ADGM’s assets under management soar 211% YoY in Q1-24

ADGM’s assets under management soar 211% YoY in Q1-24

Abu Dhabi - Mubasher: The Abu Dhabi Global Market (ADGM) reported a 211% year-on-year (YoY) surge in assets under management (AUM) during the first quarter (Q1) of 2024.

The number of asset managers operating in ADGM registered 107, managing 137 funds, at the end of March 2024, according to a press release.

The number of entities operating at the ADGM soared by 30% YoY to 1,950 in March-end, including 291 financial services entities.

Ahmed Jasim Al Zaabi, Chairman of ADGM, said: “ADGM’s unwavering commitment to excellence, demonstrated through its initiatives and achievements, continues to drive remarkable growth, attracting talent, businesses, and quality investments from across the globe."

“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,” Al Zaabi stated.

ADGM's workforce on Al Maryah Island has grown to over 25,000, reflecting Abu Dhabi's appeal as a top destination for living and working.

A 2024 survey revealed that 70.81% of companies in ADGM plan to expand their workforce, indicating strong confidence in the region’s business environment.

In Q1 2024, ADGM Academy successfully trained and placed hundreds of Emirati nationals in various professional roles, contributing to the UAE's talent pool and economic