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Barjeel Geojit gets SCA nod to manage investment funds

Sheikh Sultan Sooud Al Qassemi: The company will play a vital role in nation-building endeavour to position the UAE as a financial powerhouse

Barjeel Geojit, a leading financial services provider in the UAE, announced its foray into fund investment management following the go-ahead from the Securities and Commodities Authority.

A pioneer in promoting financial products and services in the UAE, Barjeel Geojit is among first such intermediaries in the mainland to receive the SCA licence for managing investment of funds.

Addressing a Press conference on Tuesday in Dubai, Sheikh Sultan Sooud Al Qassemi, chairman of Barjeel Geojit Financial Services, said the SCA has initiated a significant regulatory overhaul by introducing various new fund structures. “This streamlined process has empowered Barjeel Geojit to launch new funds, contributing to the development of the local Fund Management industry. I am delighted that Barjeel Geojit will play a vital role in this nation-building endeavour to position the UAE as a financial powerhouse.”

C. J. George, managing director of India-based Geojit, which has over $11 billion assets under management, said the new activity would kick start with the launch of India centric ‘Fund of Funds’ (FoF). “This is a basket of existing funds which are meticulously curated from regulated jurisdictions to help investors from the UAE benefit from the promising Indian capital markets.”

“Ranked among the world's fastest-growing economies, India presents a compelling growth narrative for investors in the UAE. By investing in a single fund comprising top-performing funds across diverse sectors and segments of the Indian markets, investors can capitalize on India's growth trajectory. This fund launch will be followed by many more such funds focussed on local and global markets,” said George, adding that the UAE and other GCC countries offer tremendous growth opportunities in the sector.

K.V. Shamsudheen, director of Barjeel Geojit, said the India focused fund holds significant potential for investors from this region as the country is on track to become a $5 trillion economy. “Our investors have the opportunity to leverage on the growth story of both the UAE and global markets. This milestone event marks a celebration of the trust placed in us by our investors, partners and regulators.”

Barjeel Geojit also has plans to launch varied types of funds to suit the multiple investment appetite. These include equity funds, debt funds, real estate funds and more based on the growing demand and investment needs of the market. The company is also keen to foray into the end-of-service benefit funds, recently announced by the Ministry of Human Resources and Emiratisation and SCA, said Shamsudheen.

Krishnan Ramachandran, CEO of Barjeel Geojit, said through the local investment funds, the company seeks to extend its reach to a much larger audience, and aim to be a leading facilitator in their wealth-building journey.

“We have a skilled and professional team alongside an in-house team dedicated to researching, tracking and evaluating macro-economic indicators, capital markets and financial sectors. We have employed robust risk management processes and adhere to a multi-layered investment management structure encompassing advisory, decision making, execution, fund accounting and control,” said Ramachandran.

Established in 2001 to help UAE residents manage their financial investments across multiple asset classes including equities and mutual funds, Barjeel Geojit offers access to investment options in global/Indian markets to its 50,000 customers.