Gulfmena Investments, which is shifting from asset manager to service provider, is helping a US-Malaysian firm to launch a product in Saudi. It says European AMs are eyeing Dubai.
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In a show of bravado, the Russian fund manager defies collapsing domestic markets to tap into Gulf cash.
The securities firm now offers its clients trading access to the Dubai International Financial Exchange.
The Gulf business will report into Hong Kong on the back of rising Asia-Middle East investment flows.