Dubai Hedge Funds Surge Past 100

Dubai has become a popular place for hedge funds.

More than 100 hedge funds are now registered in Dubai's financial area, called the DIFC.

Big companies like Oak Hill Advisors and others have moved there.

These funds manage a lot of money, and many of them have more than $1 billion.

Dubai is also home to almost 500 wealth management firms, up from 350 last year.

People and companies are moving to Dubai because it doesn't tax their income, has nice weather, and is a good place to trade in different markets.

Abu Dhabi, another city in the UAE, is also growing quickly.

Both cities are building new offices and homes to welcome more firms.

Even though Dubai is not as big as places like New York or London for hedge funds, it's becoming more important, especially for new start-ups.

The UAE is working to make rules that will attract even more hedge fund managers.