INVESTMENT COMPANY EXTENDS ITS DFSA LICENSE TO INCLUDE INVESTMENT MANAGEMENT SERVICES
Dubai, UAE, 01 February 2010: The National Investor (“TNI”), Abu Dhabi’s leading investment company, is augmenting its DIFC-based business to include investment management services in line with the extension of its DFSA license. The relocation of the management of TNI’s public and private equity funds, to the strictly regulated jurisdiction, is part of an effort to further institutionalise the firm’s asset management offering.
Walid Hayeck, Director and Head of Asset Management said: “It makes sense for us to manage our funds from the leading international financial centre in the Middle East, to best serve our institutional clients. The regulatory body of the DIFC, the Dubai Financial Service Authority (DFSA), is an internationally respected regulator. The Authority’s regime of regulations for asset management and financial services is based on high standards of ethical conduct, integrity, transparency and professionalism. The regulatory system has been modeled on the highest international standards, which suits TNI’s fund proposition. The move has been welcomed by our institutional and private clients alike.”
Yahya Jalil, Senior Executive Officer of TNI (Dubai) Limited and Head of Private Equity commented: “TNI has had a DIFC-based, private equity advisory team since 2006. The license upgrade allows investment management of both the private equity and asset management funds from this office. Our high profile MENA Equity Fund, MENA Real Estate Active Fund and the UAE Blue Chip Fund will now be supervised from the Centre.”
The TNI asset management division was launched in 2005 and it currently manages regional equity and balanced funds in addition to discretionary portfolios.
On TNI’s regional network Jalil continues: “Although our Saudi and Dubai-based businesses are growing, we are still very much an Abu Dhabi company and our roots and much of our business, including real estate and investment banking operations, continues to grow from there.”
About The National Investor: The National Investor (“TNI”) is an Abu Dhabi-based investment company with over 14 years of proven track record in investment banking and investment management services. It is one of the leading capital markets players in the Middle East and North Africa (“MENA”) region and an active investor in the local stock markets. The firm was incorporated in 1994 as an investment company, and is licensed and regulated by the Central Bank of the UAE.
TNI has offices in Abu Dhabi, DIFC and Saudi Arabia. For more information visit: www.tni.ae
About The National Investor Asset Management: The Asset Management business was launched in 2005 and currently has nearly AED 1 billion (USD 272 million) in funds and discretionary portfolios under management. Since inception, the division has been awarded “Best Asset Management House” by Banker Middle East three years in a row from 2006 to 2008. Both of TNI’s flagship funds, TNI UAE Blue Chip Fund and TNI MENA Real Estate Active, have consistently outperformed their respective benchmarks and peer groups, and recently have been assigned “A” rating by Standard & Poor’s.
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