The Middle East, Africa, and South Asia (MEASA) region’s global financial hub, Dubai International Financial Centre (DIFC), has made a number of initiatives that strengthen its standing as the most desirable location for wealth and asset management firms.
Over 400 wealth and asset management firms operating in DIFC
The DIFC is still seeing an influx of asset and wealth management companies. By the end of 2023, the Center had 350 businesses operating in this area; by then, that number had expanded to over 400, outpacing the financial free-zone market in the United Arab Emirates by a factor of 10.
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There are currently 60 pure play hedge funds that operate within DIFC, including 44 “billion-dollar club” funds, as the Centre’s hedge fund ecosystem continues to flourish.
Multi-strategy hedge funds, fund platforms, investment management regulatory hosting solutions, and global asset managers are among the most recent permitted joiners, demonstrating the unmatched depth and breadth of the DIFC’s wealth and asset management ecosystem.
Aster Capital Management, Bluecrest, JNE Partners, Polen Capital Management, Principal Investor Management (DIFC) Limited, TCW Investments, Tudor Capital, Westbeck, and Allfunds are just some of the companies that go by those names.
The DIFC Funds Centre creates sector depth and supports talent
DIFC will debut an exclusive environment in the first quarter of 2025, propelled by a rapid expansion and a unique pipeline that includes hedge fund spinouts, fund platforms, and boutique asset management companies.
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By GlobalDataBusinesses and talent who want to grow, prefer access to a variety of adaptable working alternatives, and value peer-to-peer networking will find the DIFC Funds Center ideal. Candidates for wealth and asset management are encouraged to sign up for the waitlist right away, since spots are filled on a first-come, first-served basis.
The DIFC Funds Centre is the most recent effort aimed at developing the wealth and asset management industry, following partnerships with the Alternative Investment Management Association (AIMA), Deal Catalyst, HFM, and the Standards Board for Alternative Investments (SBAI).
Positive predictions for asset and wealth management in Dubai and the DIFC
The UAE’s AUM increased by 9% in 2023, receiving wealth inflows from Dubai and the region, including millionaires, centimillionaires, family offices, and significant financial players. Dubai is home to 62% of these HNWIs and is predicted to have the highest net gain of millionaires in 2024.
The city has extensive public and private capital pools, making it a dependable and business-friendly environment.
Salmaan Jaffery, chief business development officer, DIFC Authority, said: “DIFC’s wealth and asset management community continues to experience rapid growth which outperforms the market and differentiates our position as the region’s preferred financial centre for the sector. More than 400 firms in the sector now operate from DIFC, and to support the demand from hedge fund spinouts, fund platforms and boutique asset management firms, we are delighted to launch the DIFC Funds Centre.”
