The Securities and Commodities Authority (SCA) reported a significant surge in the assets under management of companies licenced to manage portfolios and investment funds, reaching approximately Dh35 billion.
This increase reflects the SCA’s continuous efforts to advance the asset management sector in the UAE and enhance its regulatory framework, aligning with international best practices to support the UAE’s vision of becoming a leading global asset management hub.
“This year has witnessed an 83% increase in the number of companies licensed to engage in such activities, totalling 33 companies compared to 18 in January of last year,” an SCA representative said in a statement to the Emirates News Agency (WAM).
“This demonstrates the accelerated growth seen by the sector and the rising appeal for setting up local investment funds and increasing their share capital.”
The SCA projects continued growth in the asset management sector, with the number of local investment funds expected to rise to 58. The authority has received 25 new applications to start investment funds, which will further promote investments in the UAE’s financial markets.
