The Dubai International Financial Center (DIFC) announced that Lord Abbett (Middle East) Limited, a leading asset manager, was approved by Dubai Financial Services Authority (DFSA) for its first Middle East branch. The company’s investment and client-led proposition will now be available to Middle Eastern investors. Having more than 50 years’ experience in multi-sector credit investment, Lord Abbett has an impressive depth of analytical credit research. With its DIFC presence, the company will deliver relevant investment solutions and deepen relationships with regional asset owners. In DIFC, the region’s largest hub for wealth and asset management, Lord Abbett joins more than 250 other leading wealth and asset managers. Over 100 significant domiciled funds are managed by these firms collectively, with more than 450 billion dollars in assets under management.
Through DIFC’s strategic position, wealth and asset managers can access emerging wealth across the fast-growing markets of the Middle East, Asia, and South Africa. It provides wealth and asset managers with direct access to institutional and high-net-worth investors seeking conventional and alternative investment products. An independent common law system and a robust and dynamic regulatory environment make DIFC an attractive jurisdiction for wealth and asset management firms. DIFC is home to 17 of the top 20 banks in the world, 25 of the top 30 key banks in the world, five of the top ten insurance companies, five of the most prominent asset management firms, and many more world-class law firms and advisory firms.