Dubai Group to Host First World Pension Forum in the Middle East
Event to Promote Long Term Partnerships between Western Institutional Investors and Region
Dubai: 3 November, 2008 – Dubai Group, the leading diversified financial services company of Dubai Holding, today announced it is hosting the Middle East’s first World Pension Forum (WPF) in Dubai, titled ‘Pearls of the Gulf’.
To be held from 17 – 20 November, the forum will also include a one-day event in Abu Dhabi on 19 November, 2008.
Founded in 1992, the World Pension Forum hosts various conferences around the world to help US pension fund managers make knowledgeable investment decisions and allocate funds to potential investment destinations.
The World Pension Forum in the Middle East will include more than 80 participants from the US, as well as government officials and senior executives of leading UAE companies. The forum will facilitate the development of long term partnerships between the funds and the Middle East.
The forum aims to offer insight into the new patterns of global trade and people flows, the expanded role of sovereign wealth, and the erection of first-class infrastructure. The event will also give UAE-based companies an opportunity to share their success stories with the delegates.
Soud Ba’alawy, Executive Chairman, Dubai Group said:
Dubai Group is proud to host the first World Pension Forum in the Middle East, and welcomes investors from around the world to promote better information exchange in the financial services industry. Given the current scenario worldwide, this forum comes as a timely event and will offer key insights into our financial markets, particularly the role that this region is playing in the global economy.
Organizations such as the World Pension Forum provide opportunities to foster long term partnerships and open doors for business opportunities around the world. WPF pursues a shared vision with Dubai Group to bridge capital flows between the East and the West.
Philip Schaefer, President of the World Pension Forum said:
We are thrilled to be bringing our delegation of institutional investors to the United Arab Emirates for the first time. The region has shown what can be accomplished with dynamic, visionary leadership. We plan to return often.
Over the past few years, pension funds and other Western institutional investors have been eagerly exploring opportunities in the Middle East to capitalize on the region’s extraordinary growth story.
Investors that are members of the World Pension Forum include CalPERS, CalSTRS, the Kennedy Family Trust, New York State Teacher’s Retirement System as well as major state pension funds and foundations.
In January 2008, The Economist reported that Morgan Stanley estimates pension funds worldwide hold over US$20 trillion in assets, the largest for any category of investor ahead of mutual funds, insurance companies, currency reserves, sovereign wealth funds, hedge funds, or private equity.
Notes to Editor
About Dubai Group
Dubai Group is the leading diversified financial services company of Dubai Holding. Focused on banking, investments and insurance regionally and globally, Dubai Group has offices in Dubai, London, New York, Pittsburgh, Istanbul, Kuala Lumpur and Hong Kong. Through its subsidiaries and affiliates, Dubai Group has business interests in 26 countries that employ 13,450 individuals. Run by high-calibre industry veterans with proven track records, Dubai Group entities include Dubai Investment Group, Dubai Capital Group, Dubai Financial Group, Dubai Banking Group, Dubai Insurance Group, Dubai Ventures Group, and Noor Investment Group. Dubai Group plays a pivotal role for the realisation of Dubai Strategic Plan by leading the development of the financial industry in the region. For more information, please visit www.dubaigroup.com
For further information, please contact:
Huda Buhumaid
Managing Director Marketing & Communications
Dubai Group - A member of Dubai Holding
Tel: +9714 3189710
Mob: +97150 6507704
Email: huda.buhumaid@dubaigroup.com
Or
Maliha Aqeel
Account Manager, Finance Practice
Jiwin Public Relations
Tel: +9714 3613598
Mob: +97150 6331976
Email: maliha.aqeel@jiwin.ae