FYI...sedikit optimisme perkembangan Sharia Hedge Fund di 2009. Regards,
Arlyana Abubakar Senior Economic Analyst Foreign Debt Analysis and Investor Relation Division International Directorate Bank Indonesia Islamic hedge funds may have the edge GCC 23rd January 2009: Islamic hedge funds will benefit from the developments in the Gulf Cooperation Council (GCC) and emerging trends in the investment sector. They may be able to perform better than conventional ones in 2009, said the global head of hedge fund research at Thomson Reuters Lipper, Aureliano Gentilini. Some quarters in the GCC plan to boost spending and run a budget deficit in a bid to better manage a possible global market recession even though the outlook is not good for oil prices, and this can act as a catalyst to insulate stock markets in the region from disturbances, he added. For example, Dubai and Saudi Arabia adjusted their gross domestic product (GDP) growth estimates due to the financial crisis, but both still have healthy non-oil GDP growth this year. Gentilini said the Shariah compliant funds can benefit from the region’s investment liquidity profile. The UAE’s investment arms, such as the Abu Dhabi Investment Authority, have more than US$900 billion in assets, and the figure is set to increase as the region prepares to rely less on oil and gas-related revenues. He also said that these hedge funds can take advantage of the strong liquidity drivers in the GCC as well as demand from firms and institutions for absolute return investment vehicles that could provide returns associated with major market trends. From: [email protected] [mailto:[email protected]] On Behalf Of Yoga Prakasa Sent: Thursday, January 22, 2009 3:18 PM To: [email protected] Subject: [ekonomi-syariah] Sharia Hedge Fund Setahu saya, hedge fund adalah dana investasi yang menggunakan strategi khusus. Dia berbeda dengan mutual fund (reksa dana) karena tidak memenuhi syarat sebagai penawaran publik. Jadi hanya investor2 yang mumpuni saja yang ditawarkan hedge fund ini (penawaran terbatas) supaya tidak melanggar aturan penawaran publik tersebut. Nah, karena tidak masuk sebagai penawaran publik maka dia terlepas dari pengawasan otoritas bursa. Hal inilah yang menjadi kritikan, tidak hanya dari Mahathir, tapi dari pembuat kebijakan di negara maju sekalipun karena jumlah dana dan strategi2 yang dilakukan hedge fund tersebut dapat menimbulkan bencana ekonomi, seperti yang dituduhkan Mahathir terhadap George Soros (dan hedge fundnya). Dan oleh karena terlepas dari pengawasan otoritas bursa itulah sehingga strategi2 hedge fund tidak dapat dicegah dan dipertanggungjawabkan (tidak ada akuntabilitas). Strategi yang diterapkan beragam mulai dari yang kompleks (seperti transaksi CDS - perdagangan asuransi gagal bayar dari obligasi subprime, dimana instrumen CDS adalah derivatif dari sebuah produk derivatif) sampai yang sederhana namun menipu (seperti yang dilakukan Madoff dengan skema Ponzi-nya). Sedangkan Shariah Hedge Fund seperti yang diberitakan sebelumnya adalah hedge fund yang menganut strategi Shariah-compliant (sesuai Syariah) jadi "gerakan"-nya dibatasi aturan2 Syariah. Dan menurut berita itu pula transparansinya ditegakkan dengan menginformasikan posisinya kepada pusat data publik. Mengenai boleh tidaknya strategi yang digunakan shariah hedge fund masih tanda tanya karena jarang sekali dibahas di forum publik. Demikian sepengetahuan saya. Wallahualam, Yoga Prakasa www.indrayudha.net --- In [email protected]<mailto:ekonomi-syariah%40yahoogroups.com>, "vajar" <delap...@...> wrote: > > ass, saya salut ma Mahathir, berani & tegas. tapi yg perlu > diperhatikan adl "Stop hedge funds, derivatives and currency trading. > Stop banks from lending non-existent money by the billions.". > Jgn maen hedge funds dan derivativenya atopun valas... > > nah yg ingin saya tanyakan, knp sih beliau meminta permainan hedge > funds dihentikan? Lalu, apa bedanya hedge funds versi konvensional dg > yg versi syariah semacam yg diberitakan pak Arlyana Abubakar, Dubai > Shariah Hedge Fund? > > jzk > > -vajar- > > > ________________________________ "This e-mail (including any attachments) is intended solely for the addressee and could contain information that is confidential; If you are not the intended recipient, you are hereby notified that any use, disclosure, copying or dissemination of this e-mail and any attachment is strictly prohibited and you should immediately delete it. This message does not necessarily reflect the views of Bank Indonesia. Although this e-mail has been checked for computer viruses, Bank Indonesia accepts no liability for any damage caused by any virus and any malicious code transmitted by this e-mail. Therefore, the recipient should check again for the risk of viruses, malicious codes, etc as a result of e-mail transmission through Internet.”
