Karim Raffa

Companies pushing investments and online trading seems to have increased exponentially in the UAE. And we’re starting to see the scams being exposed. It’s very sad that they take advantage of people and their life savings. I seem to be getting more of these calls everyday asking me if I know anything about trading the stock market. I mostly laugh and say I’m not interested. But these people don’t stop with me. They’re taking shots in the dark, calling people off a list and finding people to scam. Please be careful who you follow and who you put your money with. If you don’t have the time to understand investing, fixed deposits are your best bet right now. https://lnkd.in/dnyqmTXK

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The integration of the most in-demand protocol in our hedge fund pool. Accelerated demand so that we onboard hedge funds every week and launch unique transactions. For example, we collateralize Pendle PT tokens for Ethena and LRT opportunities. We offer leverage of up to 4x to help hedge funds maximize profits on this type of collateral for delta-neutral positions. We maintain security through over-collateralization using a walled-garden approach and a unique Pendle PT liquidation mechanism that is not locked into maturity and allows for open-term transactions.

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I was fortunate to have led the launch of  the first multi-manager currency fund issued from a quasi-sovereign institution in the GCC in 2007. It began with an in-depth market analysis to understand the region's unique financial landscape. My strategy involved diversifying across multiple managers, with transactional transparency, to mitigate risk and enhance returns, a concept relatively new to the GCC at the time. - Building this fund required assembling a team of top-tier analysts and managers who shared a commitment to innovation and excellence. - We focused on a blend of quantitative analysis and discretionary strategies, leveraging cutting-edge technology to optimize performance. This approach not only appealed to institutional investors but also set a new benchmark in the region for currency fund management. The impact of this fund went beyond immediate financial gains — it established a new standard in the GCC's investment landscape and demonstrated the potential for sophisticated financial products in the Kuwait and the GCC region. Speaking of which, do you think AI is disrupting the FinTech industry?

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QIA earlier today announced that it is set to acquire a 10% stake in China Asset Management Co. (ChinaAMC), which ranks as China’s second-largest mutual fund company. QIA sees Japan as key market, it did double its investments in Japan since 2021. EB Capital Gestao de Recursos Ltda, backed by billionaire Marcelo Claure, plans to seek 50% Saudi capital to launch a $600 million fund to support the South American country’s climate and energy sector. After BlackRock, Goldman Sachs regional HQ in Riyadh The UAE, one of the Middle East’s largest economies, agreed on Tuesday to forge deeper trade and business cooperation with Malaysia after the two countries’ non-oil trade hit $4.7bn in 2023, maintaining the record-setting levels achieved a year earlier https://lnkd.in/e93M5pfv

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Highlights from our Seminar at the Beirut Arab University with Randa Al Rifai, MSc and Michael Ghannam presenting and demonstrating Empowch to a very engaged audience. The appetite for Web3, blockchain and crypto is very strong in Lebanon. #EmpowchSeminar #Web3Lebanon #BlockchainEducation #CryptoAdoption #LebanonTechScene

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In the dynamic world of #finance in the UAE, there's something truly magical about the art of #connection and #communication. It's not just about exchanging words; it's about forging genuine bonds and sharing meaningful experiences with the #future torchbearers of our industry. Imagine sitting across from a young finance enthusiast, their eyes gleaming with ambition and curiosity. It's in those moments of connection that we realize the true power of #communication. It's about passing on knowledge, sure, but more importantly, it's about nurturing trust and understanding. Why is this so crucial? Well, think about it. In an industry built on trust and integrity, clear communication is our lifeline. It's what builds bridges between generations, fosters transparency, and ensures that the values we hold dear are passed down from one cohort to the next. And let's not forget about #innovation. The #finance sector is evolving at lightning speed, and it's the fresh perspectives of our future leaders that will drive us forward. By opening up channels of communication, we're not just teaching; we're learning. We're learning from their unique experiences, their bold ideas, and their unwavering determination to make a difference. It starts with listening. Really listening. It's about putting aside our preconceptions and taking the time to understand what makes the next generation tick. Whether it's over a cup of coffee or a virtual brainstorming session, creating space for authentic conversations is where the magic happens. And let's not forget about diversity. Our industry thrives on it. By embracing different perspectives, backgrounds, and ideas, we enrich our collective experience and pave the way for innovation to flourish. It's about creating a culture where everyone feels valued, respected, and empowered to contribute their unique voice to the conversation. Finally, let's draw inspiration from the visionary #leaders who have shaped our nation. From the wisdom of His Highness Sheikh Zayed bin Sultan Al Nahyan to the innovation of His Highness Sheikh Mohamed bin Zayed, their legacy reminds us of the importance of unity, collaboration, and shared purpose. As we #empower the next #generation of #finance leaders, let's carry forward their spirit of #leadership and #determination. So here's to the future. To the bright minds and bold #ideas that will propel our industry forward.

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Looking forward to the IMpower Incorporating FundForum in Monaco where I will moderate the panel on: "How tokenisation, blockchain are revolutionising fund issuance and distribution: Reshaping how investment products reach clients"   with a great line up of panelists Nadine T. Simon Keefe Rémi Cuinat Christophe Lepitre Tune in and hear from real case experiences and the impact on the funds industry from short to middle and long term #blockchainrevolution #innovationdriver

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Thank you Asharq Business اقتصاد الشرق for hosting in your studio Syz Group yesterday live from #dubai. Always great to discuss about international markets with Maya Hojeij. In a nutshell: - A few interesting things in the second revision of 2024 Q1 US GDP: 1) The Real GDP growth was revised down in Q1 to 1.3% annualized, from 1.6% in the advance estimate. Most of that revision fell on consumption; 2) GDP Price Index (Q/Q) Q1 is 3.0% vs. estimates of 3.1% -> while it means that inflation is sticky, the fact that it is NOT higher than estimates sounds like a relief for bond markets (hence the drop in bond yields following then numbers release). - Macro view: The broad economic picture therefore remains quite positive for the time being and is most likely to remain supportive as we head toward the summer. A combination of positive economic growth, supportive fiscal policy, abating inflationary pressures and monetary policy easing (including a stabilization in liquidity conditions) would indeed be a favorable environment for the remaining of 2024. However, lingering inflationary pressures in the US, and question marks around domestic consumption in the US and China are potential downside risks that will have to be watched closely in the coming weeks. - Investment strategy: we continue to favor #equities over #bonds. • Overall, momentum in the markets continues to be led by large-cap technology, but we have seen some early broadening across cyclical sectors and especially in international markets, which have played some catch-up in recent weeks. We see the scope for continued broadening, as inflation potentially moderates further, earnings growth continues to deliver, and AI gains are ultimately felt across sectors. Link to interview: https://lnkd.in/gUfChXaG

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Thank you Bloomberg TV Middle East to host Syz Group this morning live in their studio in #dubai for their new show Horizons Middle East & Africa (with a special thanks to Sarah Halls). It was great discussing about #us #equity market, #assetallocation and the #fed with TV anchor Joumanna Bercetche. In a nutshell: - No surprise to see "hawkish" Fed member Kashkari reiterating the "higher for longer rates" view yesterday. We still believe that the next rate move by the Fed will be a cut - but this might indeed take time. Still, let's keep in mind that the signal by #FOMC last week was rather dovish (QT tapering timing and amount surprising positively the market) and that financial conditions remain loose and supportive for irks assets. Indeed, M2 money supply last week turns positive for first time since late 2022. - Another positive for #stocks is Q1 #earnings season better than expected results (7% above estimates in aggregate) + positive guidance. As highlighted by Joumanna, the stock reaction has not been that great - due to high #valuations. But overall it is a positive to see positive earnings revision at this time of the year; - Two other tailwinds for stocks: presidential cycle (the summer is historically positive) + share buybacks; - Bottom-line: decent economic growth + monetary policy which is expected to turn dovish + positive earnings revision is overall positive for risk assets - including equities. Link to TV interview: https://lnkd.in/dQeUDfEE

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Thank you CNBC Arabia for histing Syz Group yterday live from #dubai / #geneva. Always great to discuss about international markets with my dear friend May Ben Khadra and Hussein Sayed, CFA, CMT. In a nuthell: - Last week was NOT a good one for #US #macro data as 'growth' surprises disappointed significantly while '#inflation' surprises surprised to the upside significantly. However US stocks didn't care about US inflation surprises and rising bond yields (because a handful of mega-cap tech stocks' earnings were awesome (except META) - and that's what matters (for now). - Indeed, The Mag 7 soared 5% last week; and they now account for 31% of the entire S&P 500 index. Their share is larger than the Industrials, Consumer Staples, Energy, Materials, Utilities, and Real Estate sectors combined. This is why they remain so important for markets; - Why investors should continue running diversified global #equity portfolios? The mega-cap #tech #stocks have experienced a remarkable rally over the last two years, which, unlike the tech bubble, is NOT built on sand, as it has been driven by strong earnings growth. The opportunity in AI enablement and application appears to still have a lot of growth potential. However, the earnings outperformance and gap with the rest of the market will likely start to narrow in the back half of the year, supporting our view that the rally will broaden to other companies and sectors that have lagged. Link to video: https://we.tl/t-CbbQPIcZDX

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A major breakthrough and development for AIX as we join Abu Dhabi Securities Exchange (ADX)' Tabadul platform! I'm very upbeat on that one as it allows the investors of AIX trading participants who sign up for the scheme to trade ADX listed securities and vice-versa. The perfect antidote to the fragmentation of liquidity.

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May 8 was an important day in relations between the European Union and Saudi Arabia, as it marked the launch of the first European Chamber of Commerce in Riyadh with the support of the EU. European Chamber of Commerce in the Kingdom of Saudi Arabia (ECCKSA), the first EU Chamber of Commerce in the GCC region, promises to be the "voice of European business in the kingdom," and is "dedicated to advocating European business interests in Saudi Arabia and vice versa." Here's an overview of the most important elements of ECCKSA's mission: ✅It's committed to representing and promoting the European business community in Saudi Arabia. ✅It aims to offer a dynamic business network that opens doors to substantial commercial opportunities. ✅It wants to ensure that members’ views are heard on critical economic, business, and legislative issues. ✅It organizes key business meetings and seminars with top-tier speakers from Saudi Arabia, the GCC, and Europe, promoting coordination and dialogue on important economic issues influencing European-Saudi business ties. ✅It provides essential services to support European companies looking to set up in Saudi Arabia, including connecting them with potential clients, suppliers, and partners, and provides in-depth market intelligence and research for a comprehensive understanding of the Saudi market. I find this development interesting, and I'm curious to see how the plans to enhance economic and business relations between the EU and Saudi Arabia will develop. If you too are interested in getting to know ECCKSA better, take a look at its website and see how you can benefit from or contribute to its services. #ECCKSA #saudiarabia #riyadh #EU #EUsaudibusienssties #europe #GCC #EUforeignpolicy

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Will be speaking this evening about Crypto and Virtual Asset regulations in the UAE and wider region including India, Institutional adoption, investors, infrastructure, opportunities and all with Arushi Goel Its been quite a journey since 2018 when I started working with virtual assets in this area and now fascinating to see how the entire industry is moving into maturity with institutional grade regulation, stakeholders and business coming into fruition. #crypto #virtualassets #digitalassets

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According to an announcement in the media another #privatebank has established an office in the #UAE, this time it is NPB Neue Privat Bank AG. This brings the total number of international private banks operating in either #DIFC or #ADGM to 34. If you include local and regional private banks in the #GCC the total is boosted to a staggering 63 firms What's your opinion on private banking, an over crowded space or is there still room for more players to enter? https://lnkd.in/eppKNDRz #wealthmanagement #HNW #investing

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What have banks learnt from the fintech revolution? In this piece, I looked at how the fintech revolution failed at spelling the end of traditional banking—but forever changed it. Thank you to all the experts who spoke to me and the Dubai FinTech Summit for the invitation!

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