Funds Hub

Money managers under the microscope

Morning line-up: MENA, property and PE discounts

News and views on the fund industry from Reuters and elsewhere:

RTR1SGF8Time is short… – Reuters

BC offers discount – FT

Lehmans wrangle – WSJ

NewSmith pay – Telegraph

MENA funds stymied – Reuters

Western investors fear Dubai’s Wild East reputation

Photo

By Jason Benham

Glitzy Dubai’s property market is in trouble, there’s no doubt about that. Just take a look at the hundreds of motionless cranes, unfinished projects and the expats who are leaving in droves as they lose their jobs.

Dubai's future cloudedAnd prices and rents which soared during a six-year boom have crashed since late last year. According to one resident who recently moved in the City, it now costs 150,000 dirhams to rent a three-bedroom flat on the Palm, a man-made island off the coast of the emirate, around the same it would have cost to rent a one-bedroom appartment there a year ago.

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