DIFC Enhances Wealth and Asset Management Capabilities with New Funds Centre

The Dubai International Financial Centre (DIFC), recognized as the leading global financial hub in the Middle East, Africa, and South Asia (MEASA) region, has announced strategic updates to bolster its standing as the premier destination for wealth and asset management firms.

Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, highlighted the significant growth of DIFC’s wealth and asset management sector.

"Our community continues to outpace the market, with over 400 firms now operating at DIFC. In response to the rising demand from hedge funds, fund platforms, and boutique asset managers, we are launching the DIFC Funds Centre,"

Jaffery stated.

The DIFC has witnessed a remarkable increase in sector participation, growing from 350 firms at the end of 2023 to over 400. The Centre’s hedge fund ecosystem is thriving, with 60 hedge funds, including 44 billion-dollar entities, now based in DIFC. Recent additions include prominent names such as Allfunds, Aster Capital Management, and Bluecrest.

In light of this growth, DIFC will introduce the DIFC Funds Centre in early 2025. This innovative facility aims to provide flexible working solutions and foster networking opportunities for firms and professionals looking to expand. Applications are now open on a first-come, first-served basis.

This initiative complements DIFC’s strategic partnerships with organizations like the Alternative Investment Management Association (AIMA) and the Standards Board for Alternative Investments (SBAI), designed to further enhance the sector’s development.

According to a recent LSEG report, the UAE has become a major booking centre, experiencing a 9% growth in assets under management (AUM) in 2023. Dubai's appeal is further underscored by its status as a hub for high-net-worth individuals (HNWIs), boasting access to substantial private capital pools and a robust business environment.

The DIFC Funds Centre represents DIFC’s continued commitment to driving innovation and excellence in the wealth and asset management industry.

News Source: Emirates News Agency