Fund Manager Plans Big Middle East Push From New Dubai Base

Paul Das

23 November 2005

International fund manager Invesco has set up a sales office in Dubai’s International Finance Centre. The move comes as part of a long-term commitment to distributing its offshore fund range in the Middle East region. The new office was set up by Nick Tolchard, head of international development at Invesco, and aims to work with a small number of intermediaries in three market sectors; local and global banks, local stockbrokers and family offices, and the institutional market. Invesco aim to use Dubai as a springboard for the Gulf region as whole and to build a sustainable business from this base. “There is a huge interest in international investing among local people and expatriates who understand the limitations of investing in the local market or a single asset class,” said Mr Tolchard.