Japanese fund manager Nomura Asset Management has launched an office in Dubai International Financial Centre (DIFC) after its business in the region more than doubled in the past five years.
The launch is part of a broader strategy that will see Nomura’s Middle East office promote and market international products and funds to sovereign wealth funds, pensions and other institutional investors while also managing its client relationships on a more hands-on basis and extending its services to new markets.
Tarek Fadlallah has been appointed as CEO of Nomura Asset Management Middle East in Dubai, the company said in a statement.
He said: “Our decision to open a Nomura Asset Management office in the region reflects our ongoing commitment to the Middle East. We are looking to reinforce our activities and offer investors improved access to our world class products. The development of the NAM Middle East business is a key step towards achieving this goal.”
The Japan-based global asset manager has been managing sovereign wealth fund assets for over 25 years and globally it has $291 billion of assets under management.
The firm also manages GCC stocks through its Arabian fund which was first distributed to Japanese retail investors in 2007 as well as its Frontier and Emerging Market funds, and maintains a positive long term view on the region.
NAM Middle East is a branch of NAM UK, is located within the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA).