Middle East fund managers 'still positive'

04/02/2010 - Dubai Investment News
Middle East fund managers 'still positive'
Posted by Bob Brunskill

Most fund managers in the Middle East are still positive about the prospects for the region, a new report has found.

The latest annual review of the sector by Standard & Poor's Fund Services found that its managers in the Middle East and North Africa are largely expecting markets to rise despite the global economic climate.

According to the report, most funds were fully invested after a period of holding larger cash reserves, and most managers were selectively going back in to the UAE.

A common view was that with the oil price at US$70 a barrel, the economies in the Middle East are poised for some stability and growth.
This week it was announced that Dubai is the top destination for international investors in the Middle East.

Commenting on the FDI Confidence Index finding in which Dubai also ranked 11th in the world, Dirk Buchta, vice-president and managing director at AT Kearney Middle East, said: "These results indicated that Dubai is considered a regional success."