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211% surge in Assets Under Management at Abu Dhabi Global Market in Q1 2024

211% surge in Assets Under Management at Abu Dhabi Global Market in Q1 2024
20 May 2024 16:44


Abu Dhabi Global Market (ADGM), continues its solid performance paving the way for another strong year as the fastest-growing financial centre in the region, with a record-breaking start during the first quarter of 2024 marked by an increase of 211 percent in Assets Under Management (AUM) compared to the first quarter of the year 2023.

The growth trajectory of ADGM in AUM, coupled with a significant increase during Q1 2024 in the number of operational entities, the size of the workforce and other elements of the IFC ecosystem, underscore the concerted efforts and strategic initiatives undertaken to strengthen its standing as a leading international financial centre, and reaffirms Abu Dhabi’s position as a global financial powerhouse and a destination of choice for regional and global entities.

Chairman of ADGM, Ahmed Jasim Al Zaabi, commented, “Abu Dhabi once again affirms its position as the leading financial powerhouse of the MEASA region. 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,” he added.

ADGM's asset management sector began 2024 with vigour, witnessing an unprecedented influx of global asset managers establishing operations in the IFC, and pushing the surge in the size of Assets Under Management within ADGM during the first three months of the year 2024 to unprecedented figures reaching a growth of 211 percent compared to the same period of 2023.

By the end of March 2024, the number of fund and asset managers operating in ADGM reached 107, managing 137 funds.

The attractiveness of ADGM as a holistic financial hub which stands as the sole jurisdiction in the region to adopt the direct application of English common law, has resulted in ongoing increase in the number and diversity of prominent regional and global firms establishing in ADGM.

By the end of March 2024, the total number of operational entities in ADGM increased by 30 percent compared to the same period last year, to reach 1950 including 291 financial services entities.

ADGM's workforce has grown to over 25,000 individuals, working on Al Maryah Island, as more talented individuals choose Abu Dhabi as their destination to live, work, and thrive.

During Q1 2024 the ADGM Academy has achieved further success in training and placing hundreds of Emirati nationals in professional job profiles across various companies in the UAE.

Through rigorous and comprehensive training programmes, the academy has equipped these individuals with the necessary skills and knowledge to excel in their chosen fields.

As a result, they have seamlessly integrated into the workforce, contributing to the growth and success of their respective companies, and bolstering the talent pool in the UAE.

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