pharos-financial-opens-office-in-difc

Pharos Financial opens office in DIFC

In a show of bravado, the Russian fund manager defies collapsing domestic markets to tap into Gulf cash.
Pharos Financial Advisors, a leading Moscow-based fund management firm, said on Friday that it has been granted a license by the Dubai Financial Services Authority DFSA to operate as an authorised firm within the Dubai International Financial Centre DIFC.

Pharos, part of the Pharos Financial Group of companies and a specialist emerging markets fund manager, has opened an office in Dubai despite the collapse in Russian stock prices this year, becoming the first fund manager with a RussiaCIS focus to join the DIFC.

At this stage, the Middle East, rather than Asia, is a more obvious source of cash willing to diversify into Russian shares trading at distressed valuations, Kevin Dougherty, a...
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