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Leading India fund establishes office at Dubai International Financial Centre



DIFC provides unique mix of world-class regulatory standards with prime geographic location

Kuvera Capital Partners, one of the world’s leading India investment managers*, today received approval from the Dubai Financial Services Authority (DFSA) to operate from the Dubai International Financial Centre (DIFC). The move comes as Kuvera Capital seeks to expand its absolute return product offering for the Indian market.

Anoop Villait, Joint CEO and Investment Manager at Kuvera Capital Partners, says the DIFC offers a prime location with globally recognised regulatory standards and a solid growth platform.

“The DIFC gives us superb access to our primary investment market while ensuring we are able to operate within a centre with world class regulation and business infrastructure. We plan to expand our product offering over the next six months to provide our clients with further choice in a period of expected emerging market volatility“, he said.

Kuvera Capital’s active long/short approach has an unrivalled track-record of providing low volatility returns in spite of the recent corrections seen in emerging markets around the world. To date, its Kuvera Fund has retained a nine per cent gain against the Indian market for 2006, demonstrating its ability to identify opportunities in upward and downward market cycles.

Assem O. Kabesh, Chief Business Development Officer and Board Member at the DIFC, says the centre provides investment managers with a unique domicile.

“The DIFC not only offers an attractive business environment in economic terms, with zero-tax on company profits and repatriation of capital, but an internationally-recognised regulatory regime that allows funds to market themselves to investors around the world, including in London and New York“, he said.

Mr Villait believes the Indian equity market is on the verge of a secular, long-term re-rating that will be supported by significant domestic economic development over the coming years. The short-term outlook, however, is more volatile.

“Our long-term outlook for the Indian market is positive. India’s economy is becoming increasingly diversified, with growth in sectors from services to manufacturing. The emerging Indian consumer will be a global force in the next 10 years and will support continued expansion of the domestic corporate sector. In the short term, we expect the tightening of excess global liquidity will see investors continue to avoid perceived riskier assets such as emerging market equities. However, we believe this effect will be felt less in domestic Indian consumer stocks“, he said.

Kuvera Capital Partners, regulated by the UK Financial Services Authority, has over 70 global investors, including fund of funds, institutions and family offices, invested in its Kuvera Fund.

* Kuvera Capital Partners has been shortlisted for the ’Best India Hedge Fund 2006’ award by Eurekahedge

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