Aditum, SCB partner on new fund structure; 4 funds launched, 10 approved

Aditum Investment Management (Aditum), an asset management firm regulated by the Dubai Financial Services Authority (DFSA), has launched four public funds.

These funds, incorporated as cells of its incorporated cell company (ICC) structure in the Dubai International Financial Centre (DIFC), mark a milestone as the first fund structure available to UAE investors under the new regulatory regime for public funds.

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, 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.”

Aditum aims to provide investors with diversified investment opportunities

David Marshall, senior executive officer at 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 can gain access to more diversified investment opportunities through a single fund platform. The partnership with Standard Chartered has been instrumental in delivering this vision.”

The ICC structure accommodates not only Aditum’s funds but also offers an efficient solution for locally domiciled funds managed by international investment managers to be offered to UAE investors.

To date, Aditum has incorporated 10 funds within this structure, with four receiving the first subscriptions in May and an additional fund currently at the stage of incorporation.

The firm plans to follow these launches with a global fixed-income strategy and an Islamic multi-asset fund in the coming weeks.