Gulf investors seek safe course in global turmoil
Dubai, November 15, 2008
Leading members of the Middle East's independent, institutional and sovereign wealth investment community are gathering in Dubai tomorrow (November 16) to try and plot a safe course through global financial turmoil and economic slowdown.
'With Middle East investors already extremely cautious after being burned by previous forays into Western markets, there could be no better time for an assessment of where the best opportunities for the future may lie,' said Jeremy Butcher, co-director of the Global Alternative Investment Management (GAIM) Middle East conference.
The four-day conference will kick off on Sunday at the Dubai International Convention and Exhibition Centre with more than 60 international and regional speakers lined up to identify investment opportunities in today's volatile markets.
'Gulf investors have seen portfolios savaged and are sitting on big paper losses from investments made before the global financial crisis,' Butcher added.
'With continuing turmoil now combining with the global economic slowdown, this week's conference provides a uniquely Middle Eastern perspective on how they are assessing the investment outlook both internationally, regionally and domestically.'
Participants in the GAIM Middle East event include high net worth investors; family offices; sovereign wealth funds and government investment offices; funds, endowments and foundations; portfolio, fund and investment managers; investment bankers; brokers; law and accounting firms and government executives.
Volatility and liquidity are issues to be examined in detail along with the future for environmentally driven investing; real estate dilemmas; opportunities in real assets such as commodities including gold, agriculture and infrastructure; as well as strategies for dealing with dislocated markets.
GAIM Middle East includes special addresses by James Wolfensohn, former president of the World Bank, on the responsibility of business; and Sir Win Bischoff, chairman of Citigroup, on the uncertainty of business – investment, transition and crisis.
In addition, the event features the 2nd annual Middle East Business Achievement Award and gala dinner attended by more than 800 regional business leaders, VIP guests and senior government representatives.
The awards recognise success, innovation and ethics across Middle East business. The awards and gala dinner take place on Sunday, 16 November at the InterContinental Hotel, Festival City, Dubai.
Gaim Middle East, jointly organised by IIR Middle East and IIR USA, has received high level support including Shuaa Asset Management as founding sponsor; Global Investment House as platinum sponsor; The National Investor as gala dinner sponsor, among others.-TradeArabia News Service