The UAE asset management sector is experiencing substantial growth, with a notable 83% increase in the number of licensed companies and a rise in total portfolio value to AED 35 billion ($9.5 billion).
The Securities and Commodities Authority (SCA) reported this surge, attributing it to ongoing efforts to enhance the sector and align it with international best practices. This aligns with the UAE’s goal of establishing itself as a leading global hub for asset management.
As of this year, the number of licensed asset management companies has risen to 33, up from 18 in January 2023. This increase reflects the sector’s accelerated growth and the growing interest in setting up local investment funds and expanding their capital.
The SCA projects continued growth for the sector, with expectations that the number of local investment funds will reach 58. The authority has received 25 new applications to establish investment funds, which is anticipated to boost investment in the UAE’s financial markets.
Overall, these developments highlight the UAE’s advancing position in the global asset management landscape.
