News

Belt & Road helps ADGM hit $25bn milestone

Profits riseAssets under management (AuM) at Abu Dhabi General Market (ADGM) have surpassed the $25 billion mark according to comments made by its chairman at a recent event in the UAE capital. Assets have grown more than fivefold since 2017 when AuM stood at $4.2 billion said Ahmed Al Sayegh. He said that the international finance centre had “successfully attracted international and local investments and drove an increased focus on the region from asset managers”. A critical factor in this growth has been China’s Belt & Road development programme, for which the ADGM has become the recognised platform for China within the Mena market, said Al Sayegh. “We have established close operations with Chinese financial institutions and enterprises looking at various financial services related activities on fintech collaborations. Our commitment to the Belt & Road Initiative is a testament to our role in building up links and connectivity to different territories’ markets.” ADGM is also working with the Shanghai stock exchange to establish the first Belt & Road international exchange in the region. ©2019 funds global mena

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