News DeskThe Dubai International Financial Centre (DIFC), a leading global financial hub in the Middle East, Africa, and South Asia (MEASA) region, has solidified its position as the largest and preferred hub for wealth and asset management (WAM) companies and hedge funds. The total number of WAM firms now exceeds 370, with a significant presence from the Asia Pacific, GCC, Europe, UK, and the US.
Arif Amiri, CEO of DIFC Authority, stated, “Dubai continues to be a leading global destination for wealth and asset management firms, with over 370 now operating within DIFC. The stability and success of DIFC’s 20-year track record continue to attract the world’s best investment managers.”
The Centre’s conducive business environment and world-class infrastructure have attracted new WAM firms, including Audere Capital Limited, Banca Del Sempione Ltd, Blue Owl Capital (Dubai) Limited, and others. The return of State Street Global Advisors to Dubai further underscores the Centre’s ability to attract top talent and help clients achieve long-term business success.
DIFC’s strong performance has made it a highly competitive choice for WAM companies looking to tap into Dubai’s status as the city with the highest concentration of wealth in the region. Over 72,000 individuals in Dubai have more than USD 1mn of investable wealth, triple the number of any other city in the region. Furthermore, USD 4.7trn of capital is managed by Middle Eastern state-owned investors.
As part of its 20 Days of Finance programme to coincide with the Centre’s 20th anniversary year, DIFC is hosting the first HFM Middle East Summit exclusively for hedge fund managers this week. The Summit will bring together over 200 global leaders, including over 120 hedge fund representatives, marking the largest gathering of hedge funds in the Middle East region.
Looking to the future of WAM, a recent poll at DIFC’s thought leadership event ‘The Pursuit of Alpha’ revealed that enhancing investment decision-making and alpha generation was foremost in the mind of wealth and asset management industry professionals. Participants agreed that technology such as AI and data science also assisted in reducing operational costs and improving operational efficiency.
