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Forsyth Partners Withdrawal from Dubai

Following discussions with its regulator, the Dubai Financial Services Authority (DFSA), regarding its capital adequacy position, Forsyth Partners Global Distributors Ltd announces the cessation of its financial services activities in Dubai after the agreed withdrawal of its financial services licence.

Forsyth Partners (Middle East) Ltd also announces the DFSA's agreement to the withdrawal of its financial services licence. Forsyth Partners would like to thank the DFSA for its assistance during this restructuring process.

Forsyth Partners has been re-examining its business model since the start of the year, which has seen it open a European distribution operation, based in London for which it has gained FSA authorisation.

In addition, its Dublin domiciled UCITS 3 funds have recently been registered for sale in Italy and Finland. As part of this strategic review, further announcements about the Group's global distribution operations will be made shortly.

Forsyth Partners Ltd confirms that its UK based investment management, research and client service operations are unaffected by the revised arrangements in Dubai. menafn.com

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