INVESCO Asset Management Limited opens Dubai office

To celebrate the opening, Bob Yerbury, INVESCO UK's Chief Investment Officer, will host INVESCO's first investment meeting in Dubai on the topic of "Long Term Investment Strategies" on Monday November 21st.

INVESCO was recently granted a license from the Dubai Financial Services Authority (DFSA) to operate from the Dubai International Financial Centre (DIFC) as an authorised firm.

"Dubai is a growing market, the investing population is increasing and demanding international diversification. As a global investment manager, INVESCO sees Dubai as an important market and having a presence there is key to broadening INVESCO's international distribution."

said Nick Tolchard, Head of International Development at INVESCO.

He added: "The fact that the regulatory environment at the DIFC is modelled so closely on London and New York will provide investors with the reassurances they would expect in a credible capital market."

Dr. Omar Bin Sulaiman, Director General of the DIFC Authority, welcomed the licensing of INVESCO and the launch of its new office, saying:

"DIFC is rapidly becoming a leading world centre for asset management and wealth management companies. The infrastructure, regulation, location and free zone status of the DIFC makes it especially attractive to fund managers, private banks and wealth managers. Already the DIFC has become the region's de facto centre for the industry, and we welcome INVESCO Asset Management Limited as the latest member of the DIFC."

INVESCO's office will be based in the DIFC and will be headed by Cormac Sheedy, Associate Director of INVESCO's International Development Division. It will offer Dubai Authorised persons, Regulated Financial Institutions and Investment Professionals access to its Global Investment resources including the UK-based management team, who manage UK, international and European equities as well as fixed interest assets.

Mr Sheedy commented: "Our fund managers have a strong track record and, together with our ability to structure products that will meet the demand of the region's professional investors, we believe that INVESCO's investment expertise will answer the growing needs of this market."