| Oasis opens EU headquarters in Dublin |
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Oasis Global Management, a provider of Shari’ah compliant funds, has opened its new European headquarters in Dublin. The firm’s European office will fulfil all the administration functions of the company’s funds, the finance and client service of these funds. The move will allow the South African based company it to increase its international client base.
Director of Oasis Global Management in Ireland, Nadeem Hoosen says there are a number of reasons why Dublin was chosen as the company’s European base. ‘South Africa and Ireland have good relations, and Ireland is attracting leading international financial services companies due to its attractive corporate fiscal and regulatory environment. The Regulatory environment is stringent and follows the EU regulations. This provides confidence to investors that their interests are protected. Furthermore the Irish corporate incentives are attractive with a lower corporate tax relative to other European jurisdictions,’ he said.
According to Hoosen, there were other key factors in establishing operations in Dublin. The highly skilled workforce, the convenient location, the fact that Dublin is either one or two hours difference from the head office in Cape Town were all cited. The ability for Oasis to passport its products into Europe with ease was another factor.
‘Ireland has a well established investment funds industry and offers an ideal gateway for us to trade within the European Union. The common EU regulations allow Oasis to passport products into the EU with ease. As we explore potential growth opportunities, Ireland’s highly skilled workforce make it most attractive. There is a good relationship already in place between the Irish and South African regulators,’ he said.
‘By having our own global fund management capabilities, we can offer our clients a one stop shop on diversified investment products and they know they can expect the same level of skill and performance,’ Hoosen added.
Oasis currently has two product ranges. The Oasis Crescent Range is its Shari’ah compliant product range. These sub-funds are housed in the Oasis Crescent Global Investment Fund Plc. The Oasis Range serves the conventional investment market and its sub-funds are also housed in the Oasis Global Investment Fund Plc. The fund management is done by Oasis Crescent Capital (for the Oasis Crescent Range) and Oasis Asset Management (for the Oasis Range).
The Dublin office currently has four employees, but Hoosen said that the firm are looking to grow this figure to 10 in the short term. In addition to its South African and Irish operations, Oasis also has a presence in Dubai. The new office is at 77 Sir John Rogerson’s Quay, Dublin 2. |
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