More than 200 leading executives from top asset management firms, regulators and government authorities, sovereign wealth funds and family offices across the Middle East and beyond gathered in Dubai for the AIMA Middle East Forum.

AIMA remains committed to supporting the UAE’s alternative investment industry through regulatory engagement, investor education, best practices for emerging managers, and industry advocacy.

The UAE’s growth in context:

• The UAE is home to around 90 hedge funds, with 60% managing over US$1 billion. The number of hedge fund managers registered at the Dubai International Financial Centre (DIFC) doubled in the past year. These hedge fund managers now employ more than 1,000 people. Meanwhile, over half of Abu Dhabi's International Financial Centre’s (ADGM) licensed financial firms are now asset managers.
   
• The growing number of banks and prime brokers obtaining licences also highlights the UAE’s industry expansion.
   
• In response to the UAE’s success in attracting top-tier asset managers, the country’s regulators – the Dubai Financial Services Authority and Financial Services Regulatory Authority – are reviewing investment fund regulations, including private credit.
   
• A further positive development was the introduction of a UAE fund passport; with a GCC-wide version expected soon.
   
• The UAE continues to experience rapid growth in the crypto space, driven by a combination of regulatory innovation, institutional interest and expanding market activity. It was one of the earlier countries to embrace digital asset regulation, and created the first standalone regulatory agency in the world dedicated to the oversight of digital assets.
   
• The UAE also sees AI as a pillar of its post-oil economy, aiming to be a global leader by 2031. It was the first country to appoint a Minister of State for AI.
   

AIMA members can learn more about establishing an alternative asset management business in the UAE by downloading AIMA’s new primer.

For further information on AIMA's work in the UAE or to learn about AIMA's UAE Fund Manager Network, please contact Tom Kehoe, Managing Director, Global Head of Research and Communications, or James Delaney, Managing Director, Asset Management Regulation.