July 18, 2024

Aditum And Standard Chartered Forge Partnership On Unique Fund Structure

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Aditum and Standard Chartered partner on first-of-its-kind fund structure wherein Ten funds approved; four already funded
Aditum And Standard Chartered Forge Partnership On Unique Fund Structure. Standard Chartered Building. Image Courtesy: - Standard Chartered

Aditum Investment Management Limited (“Aditum”), a leading DFSA-regulated asset management firm, recently announced the launch of four (4) public funds incorporated as cells of its Incorporated Cell Company fund structure in the Dubai International Financial Centre (DIFC).

Aditum And Standard Chartered Forge Partnership On Unique Fund Structure.

According to Industry sources, aided by Standard Chartered as fund administrator and custodian, this launch marks a major milestone as the first fund structure to be made available to UAE investors under the new UAE regulatory regime for public funds. 

The launch of the Aditum Global Access ICC Plc underscores Aditum’s commitment to innovation and adaptability in a dynamic regulatory environment, reinforcing its position as a leader in the asset management sector.

From L To R – Scott Dickinson, Managing Director and Regional Head of Financing and Securities Services for Africa and the Middle East And David Marshall, Senior Executive Officer, Aditum

Scott Dickinson, Managing Director and Regional Head of Financing and Securities Services for Africa and the Middle East, stated: “Supporting Aditum in launching this pioneering fund structure underscores Standard Chartered’s commitment to providing investment managers with comprehensive and best-in-class fund administration and custodial solutions while supporting the UAE government’s vision of promoting the country’s status as a global hub for asset management. Our extensive experience and comprehensive licensing, onshore UAE and the DIFC, to both conventional and Shariah-compliant variants have enabled us to cater to investment managers’ interests for a one-stop-shop provider of world-class solutions.”

David Marshall, SEO, Aditum added: “Our fund structure represents a significant advancement for the asset management industry in the UAE. By providing this robust yet flexible structure, UAE investors are able to gain access to more diversified investment opportunities through a single fund platform. The partnership with Standard Chartered has been instrumental in delivering this vision.”

Industry sources also added that aside from accommodating Aditum’s own funds, the structure offers an efficient and readily available solution for locally domiciled funds managed by international investment managers to be offered to UAE investors. To date, Aditum has incorporated ten (10) funds within this structure, with four (4) funds receiving the first subscriptions in May and an additional one (1) fund currently at the stage of incorporation. It intends to follow up these launches with a global fixed-income strategy and Islamic multi-asset fund in the coming weeks.

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