The Interregional Center for Strategic Analysis stated in a recent report that the UAE topped the list of attracting asset management companies and experts regionally, supported by its legislative and regulatory structure of international standards.
The Center confirmed in a new research paper that Abu Dhabi and Dubai have consolidated their position among the most prominent global cities in attracting companies operating in the asset and wealth management sector, while the attractive business environment in the country in general has enhanced the provision of access to the markets of the Gulf region and the region in general in the sector, According to the Emirates Today website.
According to Abu Dhabi Global Market data, the volume of managed assets grew by 56 percent in 2022, while the number of asset management companies that moved to the market increased significantly, making it one of the fastest leading and growing international financial centers in the region.
The Dubai International Financial Center recently attracted more than 300 companies in the wealth and asset management sector, consolidating its position as the largest financial center in the Middle East, Africa and South Asia, while the volume of wealth managed through the center exceeds $450 billion.
The Interregional Center for Asset and Wealth Management confirmed that the role of asset managers has emerged globally coinciding with the outbreak of the global financial crisis in 2008, when the need arose for them to invest money on behalf of investors in various sources, including investment opportunities in government financing through sovereign wealth funds and financial systems. Pensions, insurance companies, and financing the private sector through purchasing stocks or bonds, etc., in order to avoid the risks of investing in a specific investment activity.
The center indicated that asset managers manage more than 100 trillion euros globally according to 2021 statistics, while the United States market represents the largest market, with a share of about 50 percent, followed by Europe with a share of 30 percent, while the asset managers market has grown in... Asia by 12 percent, a higher rate than Europe.