PC: Zawya
Launch of Three Additional Funds
Aditum Investment Management Limited announced today that three new funds have been added to its flagship DFSA-regulated platform, Aditum Global Access ICC Ltd. These are expected to go live in September 2024 and represent a further broadening of the Aditum platform.
Partnership with Fundsmith LLP
One of the new launched funds is set up in partnership with Fundsmith LLP. The Fundsmith Global Equity Fund IC Open Ended Plc is currently in its initial offer period. This will invest directly into Fundsmith’s flagship global equity strategy, which is already up and running since November 2010 and accumulates US$25 billion as of June 2024.
Led by one of the world’s most successful investors, Terry Smith, the strategy seeks long-term growth by investing in high-quality businesses globally that exhibit a superior return on operating capital employed. Having spent 50 years in investment and business, Terry Smith and the team adhere to some key investment principles: invest in high-quality companies but only at a fair price; never try to time markets; be prepared for, or commit to, a long-term investment horizon.
New Feeder Funds for UAE Clients
It is also launching two feeder funds into its UCITS Funds: the HCM Moderate Fund Open Ended IC Plc and the HCM Adventurous Fund Open Ended IC Plc. These funds would give UAE clients access to Aditum’s global multi-asset moderate and adventurous UCITS strategies, launched in May 2021 and September 2022, respectively. To this date, August 28, 2024, the above-mentioned funds have a combined asset under management of approximately US$229 million.
The funds are managed by the fixed income and multi-asset team at Aditum, which Chowdhry heads. They look to offer a total return through diversification across different asset classes. Chowdhry said: “We are very excited to be extending the Aditum Global Access platform and, for the first time ever, offering onshore investors access to actively managed multi-asset funds. He told that there is huge potential lying ahead for locally domiciled funds at the DIFC, where demand has been on the rise across all asset classes.
Expansion Continues for Aditum Global Access ICC Platform
The three new funds will join the 11 funds already constituted under the Aditum Global Access ICC platform. The expansion follows on the heels of the very successful launch of four funds with Standard Chartered Bank and Amundi in May 2024 as well as a short-dated fixed maturity fund with Principal Global Investors as Investment Advisor in July 2024.
With more than $7 billion of assets under management, Aditum is working on launching at least six more funds by the end of the year with several third parties, a furtherance of its assurance in the asset management industry.
