Partner Carolyn Abram spoke to Citywire regarding the absence of undertaking for collective investment in transferable securities (UCITS) funds in the retail market, which has created a significant demand for new United Arab Emirates-domiciled fund solutions—prompting a series of tie-ups between global asset managers and UAE-based firms in recent months.
“The availability of locally licensed fund managers with whom a boutique sponsor can partner does provide an option representing lower upfront costs than a license application/upgrade,” said Carolyn. “We are also aware of managers who have elected to partner with a locally licensed manager to test the market, but who plan to apply for their own fund management license when their assets under management reach a target threshold.”
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