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Allianz Global Investors, Daman Investments launch UAE's first onshore feeder funds for retail investors

The initiative offers a unique opportunity for retail investors to access professionally managed international funds

Allianz Global Investors (AllianzGI), one of the world’s leading active investment managers, and Daman Investments PSC, a leading provider of non-banking financial services in the UAE since 1998, have announced the UAE’s first onshore feeder funds for retail investors.

The initiative offers a unique opportunity for retail investors to access professionally managed international funds. This enables investors to diversify their portfolios through investments in a broad range of asset classes, geographies and trending sectors like Artificial Intelligence.

The two new funds being offered by AllianzGI in collaboration with Daman Investments replicate their flagship strategies focusing on:

• Income & Growth: With over $55 billion assets under management, the Allianz Income and Growth strategy takes a US-centric multi-asset approach to delivering consistent income and capital growth with lower volatility through investments in large-cap equities (with a covered call overlay), convertible securities and high-yield bonds. The fund aims to deliver a stable and sustainable monthly distribution to investors.

• Global Artificial Intelligence: With over $12 billion assets under management, the Allianz Global Artificial Intelligence fund aims to generate long-term capital growth by investing in global equity markets with a focus on artificial intelligence (AI). The goal of the fund is to navigate the changes introduced by this transformative technology. We believe that as AI evolves, it has the potential to disrupt every industry.

The funds have been established under the umbrella of Allianz Global Investors AE Feeder Funds and comply with regulation No. (01/RM) of 2023 issued by the Securities and Commodity Authority (SCA). Furthermore, the funds aim to encourage the development of a comprehensive asset management industry in the UAE over the next decade.

Malie Conway, head of Global Clients & Growth Markets at AllianzGI, comments: “We are excited to be working in this partnership to provide retail investors with access to some of AllianzGI’s best-known global investment strategies backed by Daman Investment’s deep understanding of the local market.”

Mohamed Hmidi, director of Business Development Middle East at AllianzGI, says: “'AllianzGI is proud to contribute to the growth of the asset management industry in the UAE by providing our local distribution partners and their retail clients with our global investment expertise. We are all excited to launch the first local onshore funds in the market and look forward to further expanding our presence in the region.'

Shehab Gargash, founder and chairman, Daman Investments PSC, stated: “We laud the UAE government & SCA’s efforts to introduce international best practices to further boost the Asset Management Industry. This collaboration with one of the world’s best institutions is a testament to our relentless pursuit of excellence and our dedication towards providing innovative solutions that meet the needs of investors."