Aditum and Standard Chartered Bank Launch First-of-its-Kind Fund Structure in DIFC

Aditum Investment Management (Aditum) has made a significant move in the asset management industry by launching four public funds, marking a milestone as the first fund structure available to UAE investors under the new regulatory regime for public funds.

These funds, incorporated as cells of its incorporated cell company (ICC) structure in the Dubai International Financial Centre (DIFC), aim to provide investors with diversified investment opportunities through a single fund platform.

Supported by Standard Chartered as fund administrator and custodian, the launch underscores the bank’s commitment to providing comprehensive and best-in-class fund administration and custodial solutions.

Scott Dickinson, the bank’s MD and regional head of Financing and Securities Services for Africa and the Middle East, emphasized the importance of supporting Aditum in launching this pioneering fund structure, highlighting Standard Chartered’s commitment to providing investment managers with top-notch solutions while supporting the UAE government’s vision of promoting the country as a global hub for asset management.

David Marshall, senior executive officer at Aditum, expressed his excitement about the new fund structure, stating that it represents a significant advancement for the asset management industry in the UAE. He also highlighted the partnership with Standard Chartered as instrumental in delivering this vision.

The ICC structure not only accommodates Aditum’s funds but also offers an efficient solution for locally domiciled funds managed by international investment managers to be offered to UAE investors. Aditum has already incorporated 10 funds within this structure, with plans to launch a global fixed-income strategy and an Islamic multi-asset fund in the near future.