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The Capital of Capital sees a record 211% increase in AUM at ADGM since Q1 2023

  • Assets under management increased by 211% between the first quarter of 2023 and the first quarter of 2024.
  • 107 asset and fund managers are active in ADGM and currently manage 137 funds.
  • The number of operating entities grew by 30% and the workforce saw a significant increase at the end of Q1 2024 compared to the same period last year.

ABU DHABIUAE, May 20, 2024 /PRNewswire/ — ADGM, the international financial center (IFC) of the UAE capital, continues its solid performance, paving the way for another strong year as the fastest growing financial center in the region, with a record-breaking start during the first quarter of 2024 marked by a 211% increase in assets under management (AUM) compared to the first quarter of the year 2023.

ADGM’s growth trajectory in Assets Under Management, coupled with a significant increase in the first quarter of 2024 in the number of operating entities, headcount size and other elements of the IFC ecosystem, underscore the joint efforts and strategic initiatives undertaken for its position as a leading international financial centre, and reaffirms this That of Abu Dhabi position as a global financial powerhouse and a preferred destination for regional and global entities.

Commenting on ADGM’s continued growth and strong performance: HE Ahmed Jasim Al ZaabiChairman of ADGM said,Abu Dhabi reaffirms its position as the MEASA region’s leading financial powerhouse. ADGM’s relentless pursuit of excellence, as evidenced by its initiatives and achievements, continues to drive remarkable growth and attract talent, businesses and quality investments from around the world. This year holds the promise of even greater growth for ADGM and its ecosystem, marking a significant step toward this achievement That of Abu Dhabi economic objectives and ambitions.”

Abu Dhabi: The region’s leading financial center for asset management

ADGM’s asset management industry started 2024 on a strong note, witnessing an unprecedented influx of global asset managers setting up operations in the IFC, driving the increase in the size of assets under management within ADGM to unprecedented numbers during the first three months of the year 2024, reaching a level of 2024. growth of 211% compared to the same period of 2023. By the end of March 2024the number of fund and asset managers active in ADGM reached 107, managing 137 funds.

The attractiveness of ADGM as a holistic financial center that is the only jurisdiction in the region where the direct application of English common law can be adopted has resulted in a continued increase in the number and diversity of prominent regional and global companies operating in establish ADGM. Towards the end of March 2024the total number of operating entities in ADGM has increased by 30% compared to the same period last year, up to 1950, including 291 financial services companies.

That of Abu Dhabi Quality of life ensures a strong increase in ADGM’s workforce

ADGM’s workforce has grown to more than 25,000 employees Al Maryah Islandas more talented individuals choose Abu Dhabi as their destiny to live, work and prosper.

That of Abu Dhabi The appeal extends beyond just the business possibilities. The city has been ranked as the best and safest city to live in the region, offering a high quality of life with world-class amenities and infrastructure. Out Abu DhabiADGM strengthens its attractiveness as a destination of choice for both professionals and investors.

In the Outlook 2024, an extensive survey of the ADGM community provides insight into the promising prospects for ADGM as a destination of choice. A total of 70.81% of companies expect to expand their ADGM workforce by 2024, with 29.93% expecting a significant increase and 40.88% planning moderate headcount growth. This collective optimism is reflected That of Abu Dhabi robust economic health and strong business confidence in the IFC’s favorable business environment.

Managing a seamless migration of Reem Island companies

2024 is the year of business transition Al Reem Island for ADGM, which is progressing smoothly and well on track, with several initiatives announced and implemented in the first quarter of 2024 to support the enterprise migration process.

In addition to a series of awareness sessions and focus group meetings organized by the RA of ADGM for company representatives Al Reem IslandADGM launched its information center at Shams Boutik Mall, in Al Reem Island.

The launch of the center was followed by ADGM’s first community event Al Reem Island. The community event provided ADGM with a platform to unveil a new incentive initiative tailored exclusively for businesses Al Reem Island, active in the non-financial sector and retail. Under this incentive initiative, eligible businesses on the island will be waived of all costs associated with obtaining a commercial ADGM license until October 31, 2024.

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SOURCE ADGM