The volume of Assets under Advisory at AIFC has grown over five-fold compared to last year

In the first half of 2023 the number of fund managers at AIFC has grown to 30 (up from 25 in first half of 2022), with AIFC continuing to be the jurisdiction of choice for large firms. The dynamics of growth of fund management companies is the best indicator of investment appeal of a country and the figures shown is evidence that AIFC is turning into a regional investment hub.

Assets under Advisory went up by 437% in the first half of 2023, while Assets under Management increased by 43% compared with the same period last year.  Additionally, assets of investment funds saw a 199% rise and investments of brokerage clients secured an increase of 721% compared to a similar period last year.

In June this year the enhancements to the AIFC Asset Management Framework were introduced, which can be considered as a significant step in supporting the growing asset management industry in the AIFC. These enhancements are geared towards aligning AIFC with evolving global trends, catering to the needs of investors, and ensuring a competitive edge in the international financial landscape.

AIFC introduced Limited Partnerships and Protected Cell Company as new types of fund vehicles for fund incorporation. Besides, AIFC expanded the list of Specialist Funds, which means that more fund structuring options became available for fund managers: Umbrella Fund, Fund of Funds, Master-Feeder Structure.

Chief Executive Officer of AFSA Nurkhat Kushimov: “Smart and efficient investing are the fundamentals of building wealth for individuals and economies. When the groundwork such as predictable regulations is there for investments to work for people and the country, then investing becomes easy to do. And this is exactly what AFSA does – our role is to build the necessary infrastructure for unimpeded investment flows.”

AFSA is the sole jurisdiction in the region to offer businesses a comprehensive legal regime for attracting, implementing and protecting investments based on AIFC Law’s principles, norms and precedents of the law of England and Wales and standards of the world’s leading financial centres.

Reference: 

Assets under Advisory (AUA) means the market value of the client’s portfolio, for which the client seeks advice from the investment advisor.

Assets under management (AUM) is the total market value of the investments managed by a person or entity on behalf of investors.

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.

Around 2,200 firms from 78 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/ 

Contact information:

Public Relations and Communications Division of AFSA:

+7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]