SHUAA ICC funds outperform global benchmarks in 2022

SHUAA ICC funds outperform global benchmarks in 2022

SHUAA GMC also plans to launch a fund in Q1 2023 with a focus on Saudi Arabia and GCC

Looking to launch a dedicated Shariah-compliant money market fund in Q2 2023

Expansion of the ICC fund offering in line with SHUAA’s strategy to diversify and grow its recurring fee income base

United Arab Emirates: SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, has affirmed its position as one of the leading regional asset managers, outperforming global industry benchmarks and strong growth in Assets Under Management (“AUM”) across its Incorporated Cell Company (ICC) fund range, domiciled in Abu Dhabi Global Market (ADGM) and managed by SHUAA GMC Limited (“SHUAA GMC”), the wholly-owned FSRA-regulated subsidiary of SHUAA.

The business’ reputation as an asset manager of choice was cemented with a 210% growth in total AUM over a two-year period, increasing from USD 74 million to over USD 230 million despite challenging market conditions. In addition to strong inflows, ICC multi-asset funds delivered stellar performances.

Nujoom Aggressive Fund capped performance at -0.5% in 2022, with Nujoom Balanced Fund at -9.8%, resulting in both funds beating the global benchmark which ended 2022 at -12.3%. Moreover, the Global Sukuk Fund, which launched