A former member of the Soros Fund Management LLC team is striking out on his own to create a new hedge fundin Dubai.
Ahmad Zuaiter, previously a money manager, will focus on locations such as Argentina, Nigeria and Vietnam to take advantage of the emerging financial sectors and markets in those areas. Zuaiter worked at Soros Fund Management through 2006 to 2011.
The firm will be named Jadara Capital Partners LP, and will concentrate on frontier market stocks rather than established emerging market areas such as China, Russia and India. Pakistan, Zimbabwe, the United Arab Emirates, Iraq and Morocco are places of interest.
Zuaiter’s current forecast is for Jadara Capital Partners LP to start trading in the second quarter of 2014, an ambitious plan. Of the frontier market focus, he said: ““This is almost a perfect time to invest in many of these countries because of their accelerating growth and strong fundamentals. Generally speaking, frontier markets are positioned to grow at a much better rate than emerging markets.”
The emerging market sector has shown signs of a decline after a strong recovery after the 2008 economic crisis, with the lowest results for 2014 since 2009. China especially has been hit, with rising interest rates and a reduced economical output.
Dubai has become more popular in recent years as a location for hedge funds, given its central location in the Middle East and its links to other countries. For Jadara Capital Partners LP especially, it has forged strong ties with frontier markets.
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