The asset management sector in the UAE is booming, with the number of licensed companies increasing by 83 per cent and the total value of portfolios reaching AED 35B ($9.5B).
The Securities and Commodities Authority (SCA) announced a significant rise in Assets Under Management by firms authorised to manage portfolios and investment funds, totalling approximately AED 35B.
According to the SCA, this growth is a result of its continuous efforts to develop the asset management sector in the UAE and enhance its regulatory framework to align with international best practices. This approach supports the UAE’s vision of becoming a leading global centre for asset management.
The SCA stated that this year has seen an 83 per cent rise in the number of companies licensed to conduct such activities, reaching 33 firms compared to 18 in January of the previous year.
This highlights the sector’s rapid expansion and the growing interest in establishing local investment funds and increasing their share capital.
The SCA has received 25 new applications for starting investment funds, which will further support the investments of these companies in the UAE’s financial markets.