Algebra Capital opens an office in the DIFC

  • Licence granted to operate as an authorised firm within DIFC
  • Algebra Capital to offer financial services across MENASA regions

Algebra Capital announced today that it has been granted a license by the Dubai Financial Services Authority (DFSA) to operate as an authorised firm with in the Dubai International Financial Centre (DIFC).
Algebra Capital is a specialist emerging markets asset management company and is domiciled within the Dubai International Financial Centre (DIFC). Algebra Capital's geographic mandate extends across the Middle East, North Africa, GCC, and emerging Asian regions (MENASA).
Welcoming Algebra Capital to the Centre, Nasser Al Shaali, Chief Executive Officer (CEO), DIFC Authority, commented: “We wish Algebra Capital a fruitful future. Being based in the DIFC will provide them with the ideal opportunity to pursue their business plans which spans across the MENA and Asian regions.”
Algebra Capital will manage assets in private and public markets across all asset classes. The services will be packaged as fund solutions, discretionary mandates and structured products and the firm's clients will be a mix of institutional investors and high net worth individuals
Commenting on receiving the DFSA licence, Ziad Makkawi, the founder and CEO of Algebra Capital said: “ The DIFC upholds the highest global regulatory standards in line with other major international financial centers.The newly obtained licence enables Algebra Capital to go full throttle in its business plans and provide world-class financial services in the MENASIA regions.”
“We are delighted to receive the licence from DFSA. The entire process has been very professionally handled and we are thankful to the authorities for their guidance, help and facilitation,” said Makkawi. “Algebra Capital expects the market for asset management in the GCC alone to grow to at least USD 200 billion in the next five years, and intends to position itself as a market leader in this arena.”
Currently, global assets managed by professional Asset Managers stand at approximately USD 16 trillion. While the global ratio of Asset Under Management (AUM)s to market cap is 37 per cent, in the GCC it is only 7 per cent and less than 25 per cent in emerging markets. The potential for growth based on capital markets development is therefore outstanding.
Algebra Capital intends to capitalize on the growth in the Asset Management industry, which continues to develop at a breathtaking speed. As more and more institutions enter the market, the industry's regulators allow for the build-up of saving pools, and investors increase their reliance on professional managers.

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