Luxembourg-domiciled fund manager VAM Funds has obtained the approval of the UAE's Securities and Commodities Authority (SCA) to register 11 of its range of funds within the region.
The Luxembourg fund management company said in a statement earlier today that it is "committed to establishing and building a permanent distribution capability in the UAE", where it believes that demand for high quality, sophisticated investment funds and products is increasing.
VAM said that it is targeting financial advisers, intermediaries and institutions in the UAE to access its range of funds.
The following 11 UCITS V funds have been registered in the UAE:
- VAM US Micro Cap Growth Fund;
- VAM US Small Cap Growth Fund;
- VAM US Mid Cap Growth Fund;
- VAM US Large Cap Growth Fund;
- VAM World Growth Fund;
- VAM Emerging Markets Growth Fund;
- VAM International Opportunities Fund;
- VAM Driehaus Fund;
- VAM Cautious Fund;
- VAM Balanced Fund;
- VAM Growth Fund.
Brendan Adams, managing director, VAM Global Management Company, said: "We are delighted with this new step in our group development as we have been present in the [UAE] region for almost a decade now.
"VAM has been in the industry for nearly two decades and, by establishing a strong presence in the UAE market, it is clearly reinforcing its global presence. We are finding that well-regulated international funds, such as those we provide through our Luxembourg UCITS V range, are increasingly in demand and being sought by advisers and investors."