Dubai – Mubasher: Dubai International Financial Centre (DIFC) said that fund managers in the UAE are expecting a 1081% increase in assets from $1.6 billion in 2016 to $18.9 billion by 2020.

Dubai continues to enhance its position as a pioneer financial centre in the Middle East, Africa and South Asia, DIFC said in a report.

The total assets under management in the Middle East, Africa and South Asia reached $436.5 billion by the end of 2016, the report added, noting that this figure is likely to increase to $678.9 billion by 2020.

GCC fund managers expect their assets under management to rise from $45.8 billion in 2016 to $110.9 billion by 2020.

DIFC realises the growth opportunities in the fund management sector during the next five years, CEO of DIFC Authority Aref Amiri said.

That is why DIFC implemented improvements on its organisational structure, which included modifications on “collective investment funds” system, and legislative referendums, Amiri added.