Aditum Investment Management Limited, a DFSA-regulated asset management firm, is to launch three additional funds expected to go live later in September 2024 under its Aditum Global Access ICC Ltd platform.
Established in partnership with Fundsmith LLP, the Fundsmith Global Equity Fund IC Open Ended Plc is currently in the initial offering phase and will invest directly into Fundsmith’s flagship global equity strategy which launched in November 2010 and has assets of $25bn as of end June 2024 .
The strategy aims to achieve long term growth by utilising the expertise of Terry Smith (pictured), who has had a 50-year career in investment and business, and his team in investing in high quality businesses on a global basis that they believe can sustain a high return on operating capital employed. The fund has an impressive track record and follows Smith’s key investment principles which includes investing into high quality companies at a fair price, not trying to time the market and being committed to a long-term investment horizon.
Aditum will also be launching two feeder funds into its own UCITS Funds, the HCM Moderate Fund Open Ended IC Plc and HCM Adventurous Fund Open Ended IC Plc. These funds will provide UAE clients with access to Aditum’s global multi-asset moderate and adventurous UCITS strategies which launched in May 2021 and September 2022 respectively and have combined assets under management of c. US$229m as of 28th August 2024. These funds, that are managed by Aditum’s fixed income and multi-asset team, headed up by Omer Chowdhry, aim to deliver a total return through investing in a diversified range of assets.
Chowdhry said “We are thrilled to be part of this exciting endeavour to build out the Aditum Global Access platform and providing access for onshore investors to a number of strategies, including our actively managed multi-asset funds.’ Mr. Chowdhry continued “It has been great to be at the forefront of this new phase in the DIFC, where locally domiciled funds are actively encouraged and exciting to see where the opportunities will take Aditum as we see increasing demand across all asset classes.”
These funds are three out of the 11 funds already incorporated under the Aditum Global Access ICC platform and follows the successful launch of four funds in collaboration with Standard Chartered Bank and Amundi in May of this year and a short dated, directly invested fixed maturity fund with Principal Global Investors acting as Investment Advisor in July 2024.
Aditum, which now has over $7bn in assets under management, is working with a number of third parties on at least 6 additional funds which will launch before the end of the year.
