gulfnews : Permal says Middle East hedge fund investments on the rise

Permal, a global player in alternate investment management with $23 billion (Dh84.4 billion) worth of assets under management, is seeing growing Middle East interest in hedge fund investments.

Local investors' portfolios are still dominated by regional equities and bonds, but they are now looking to spread risk across asset classes, seeking longer-term returns and greater downside protection. International investments and absolute return funds have been beneficiaries.

"Investors from here, particularly high net-worth individuals, institutional investors and sovereign wealth funds, are showing growing interest in alternate investment strategies. Currently about 20 per cent of our total assets are from the Middle East region," said Isaac R. Souede, chairman and chief executive of Permal Group.

* username: rupertbu