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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
Collective Investment Rules (CIR) [VER25/07-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
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Financial Markets Tribunal

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(1 version)
Jul 11 2010 onwards

CIR 3.1.9

Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) A FundG is a Hedge FundG if it is a FundG which has some or all of the following characteristics:
(a) it has a broad mandate giving its Fund ManagerG flexibility to shift strategy;
(b) it is aimed at achieving absolute returns rather than returns relative to the market;
(c) it employs some or all of the following techniques:
(i) the pursuit of absolute returns or "alpha" rather than measuring their investment performance relative to the market;
(ii) the use of short selling;
(iii) the use of DerivativesG for investment purposes;
(iv) the use of economic or debt leverage as well as leverage embedded in financial instruments such as DerivativesG ;
(v) the acquisition of distressed debt with a view to its realisation at a profit; or
(vi) the acquisition of "high yield" debt SecuritiesG .
(2) A FundG is a Fund of Hedge FundsG if it is dedicated to investing in a number of Hedge FundsG or Sub-FundsG of one or more Hedge FundsG that meet the criteria in (1).
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]