Brevan Howard has significantly increased its crypto trading activities in the United Arab Emirates, crediting the country’s “sensible regulations,” according to an executive from the hedge fund during the AIM conference in Dubai on Monday.
Ryan Taylor, group head of compliance at Brevan Howard, stated, “The regulators in the UAE are hard, but they want the industry to fly. They write sensible regulations and are willing to engage with the industry to evolve those regulations.” He highlighted that the firm’s crypto trading operations account for approximately $2 billion of its total strategies, which exceed $30 billion in total assets. While Taylor emphasized the significance of the UAE’s contribution to their trading, he did not provide specific figures.
Brandon Robinson, deputy head of private markets at JPMorgan Asset Management, echoed Taylor’s sentiments, noting the emergence of new opportunities in the UAE’s equity market and beyond. He remarked, “We’re really excited about that,” as the bank continues discussions with various managers in the region.
Jonathan Beardall, head of wealth and asset management at the Dubai International Financial Centre Authority (DIFC), highlighted the unprecedented growth in the region. “We thought the growth was substantial last year, but it has continued at the same pace,” he said. Beardall noted that Dubai currently has 65 hedge funds registered, with expectations for that number to rise to 70 in the coming weeks.
According to hedge fund research firm Pivotal Path, hedge funds focused on macroeconomic trading saw a 3.6% increase for the year ending September, compared to the same period last year, further underscoring the thriving environment for hedge funds in Dubai.
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