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11 November 2020

FAB awarded global custody mandate for Shuaa Capital

Abu Dhabi; 11 November 2020: FAB Securities Services has been appointed by SHUAA GMC limited, a wholly owned subsidiary of SHUAA Capital psc, the leading asset capital management and investment banking platform, to provide global custody services for its newly launched Abu Dhabi Global Market (ADGM) funds. 

The three open-ended Sharia-compliant funds have been launched under a first of its kind ICC umbrella in the ADGM.  They are targeted at qualified institutional investors, with a specific focus on insurance and pension institutional investors with a long-term investment horizon.  The funds platform is expected to be the largest of its kind to be domiciled in ADGM, and have already secured initial commitments of $75 million.  SHUAA Capital currently manages $13 billion in assets with a clear roadmap seeking to increase this to $20bn.

FAB Securities Services will help drive efficiencies for SHUAA Capital across its operations using its market leading regional direct custody network with expert local client servicing teams and its superior technology solutions - enabling SHUAA’s investment team to focus on its core competency of portfolio management.

“SHUAA Capital is delighted to expand its relationship with FAB Securities Services.  We wanted a provider that can help us navigate the complexities of the regional post-trade landscape in a responsive manner.  FAB has demonstrated this expertise as a regional leader.  We are pleased to draw on its experience and solutions”, said Ajit Joshi, Head of Public & Private markets at SHUAA Capital.

“FAB Securities Services is well positioned to support SHUAA Capital in its business aspirations. As a leading regional custodian, our strength is providing bespoke solutions to sophisticated investors. We are delighted to partner with SHUAA Capital in its continued regional expansion”, said Kashif Darr, MD and Head of Securities Services, FAB.