MENA fund prospects positive

The outlook for hedge fund industry growth in the Middle East/North Africa (MENA) region is good, according to Abdul Rahman Al Baker (pictured), executive director, financial institutions supervision, Central Bank of Bahrain.

He points to several factors, including "outstanding economic growth in region" forecast to increase by 6.6% in 2009, and the increased appetite among MENA investors for alternative products. He predicts a "surge in demand of wealth management of high net worth individuals a