The Securities and Commodity Organization (SCA) has announced a sharp increase in assets under management by companies licensed to manage portfolios and investment funds.
Publish dateTuesday 27 August 2024 - 19:20
To advance the asset management sector in the UAE and strengthen its regulatory environment in line with international best practices, the UAE's vision of becoming a leading global hub for asset management will be realized, according to the announcement.
The SCA said that this year we have seen an 83% increase in the number of companies licensed to carry out these activities, reaching a total of 33 companies compared to 18 in January last year.
According to the announcement, the coming period is expected to see continued growth in the asset management sector in the UAE, with the number of local investment funds expected to reach 58 as the SCA received 25 new applications to launch investment funds. has done
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Source : news agency wam
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