DUBAI — Dubai International Financial Centre - the mature global financial hub connecting the Middle East, Africa and South Asia (MEASA) markets with the economies of Europe, Asia and the Americas – participates at the four-day FundForum International 2015 in Monaco. The annual fund management conference, taking place from June 29 to July 2 at ‘The Grimaldi Forum', serves as a thought-leadership platform on subjects such as boutique funds, future of crowdfunding, and the adoption of technology to optimize client servicing. The gathering of fund managers, which also co-locates an exhibition center to promote networking, has drawn the attendance of more than 1,200 senior level attendees, including some 600 plus key asset managers, and over 70 leading CEOs, CIOs and boardroom leaders. A long-standing exhibitor at the forum, the platform serves as a facilitator for DIFC to leverage discussions with leading fund managers on the increasing potential of the asset management sector in Dubai and the wider region. In addition, as part of their efforts to showcase the Centre's enabling investment ecosystem, key DIFC representatives attending the forum seek to highlight the financial hub's strategic access to emerging markets, as well as efficient financial systems and conducive legal and regulatory framework. Commenting on DIFC's participation at the event, Arif Amiri, Deputy CEO, Dubai International Financial Centre Authority (DIFC Authority) said: “The FundForum International provides a unique platform on a global scale for meeting decision-makers and presenting them with DIFC's decade-long economic growth story and key competitive advantages. Dubai's increased emphasis on diversifying the economy to curtail dependence on oil has led to significant redistribution of wealth. Fund managers have been the beneficiaries in this transition of investment re-allocation. Since their introduction only a decade ago in the DIFC, the asset management industry has been incredibly successful. Growing beyond $10.4 billion in 2014, assets under management of fund managers and financial institutions in DIFC are now estimated to stand tall at $250 Billion by 2024.” Arif Amiri added: “The Middle East and North Africa region domiciles nine of the world's largest sovereign wealth funds with assets of approximately $2 trillion. At the same time, the number of High Net-worth Individuals (HNWIs) across the region, both institutional and private wealth, has advanced significantly. Rising income level combined with lower inflation rates have led to an increase in the aggregate savings of the population across the region. We, therefore, see tremendous scope for the development of long-term savings and wealth solutions catering to the increasingly affluent and aspirational young population.”— SG
