The move is in line with the new SCA regulation which restricts promotion of foreign funds to professional investors
Standard Chartered said it had partnered with leading international companies to provide best-in-class products to its retail clients, including Amundi, Aditum Investment Management and ClearStream. These products are domiciled in Dubai International Financial Centre (DIFC).
Owen Young, managing director and regional head of wealth management for Europe,Africa and the Middle East at Standard Chartered, said: “At Standard Chartered, we are committed to supporting our clients’ financial goals and aspirations.
“By being among the first few institutions to offer locally domiciled funds to our retail customers in the UAE, we are delivering on our promise to provide innovative and best-in-class investment solutions that cater to their diverse needs while supporting the UAE government’s vision of making the country a global financial hub.”
Salmaan Jaffery, chief business development officer, DIFC Authority, said: “Providing retail clients with access to locally domiciled funds not only provides greater investment opportunities, but access to companies and assets that are likely familiar to the local market. As a result, customers are given an additional means of diversification, while supporting Dubai’s financial services industry. We commend Standard Chartered’s innovative approach towards supporting their retail clients’ requirements, and the local economy.”
As part of this, Standard Chartered has launched four funds domiciled in DIFC and these are now available to retail clients, including the Signature CIO Balanced Fund, Signature CIO Growth Fund, Signature CIO Income Fund, and Signature CIO Conservative Fund.
Source: international-adviser