Abu Dhabi Global Market records 211% surge in assets under management since Q1 2023

Abu Dhabi Global Market records 211% surge in assets under management since Q1 2023

ADGM’s asset management sector began 2024 with vigour, witnessing an unprecedented influx of global asset managers.

Published: Mon 20 May 2024, 7:45 PM

ADGM, the international financial centre of the UAE’s capital, on Monday announced that it recorded an increase of 211 per cent in assets under management compared to the first quarter of the year 2023.

Ahmed Jasim Al Zaabi, Chairman of ADGM said, “Abu Dhabi once again affirms its position as the leading financial powerhouse of the MEASA region. This year holds the promise of even greater growth for ADGM and its ecosystem, marking a significant stride towards achieving Abu Dhabi’s economic goals and ambitions.”

ADGM’s asset management sector began 2024 with vigour, witnessing an unprecedented influx of global asset managers establishing operations in the IFC, and pushing the surge in the size of assets under management within ADGM. By the end of March 2024, the number of fund and asset managers operating in ADGM reached 107, managing 137 funds.

The attractiveness of ADGM as a holistic financial hub which stands as the sole jurisdiction in the region to adopt the direct application of English common law, has resulted in ongoing increase in the number and diversity of prominent regional and global firms