Last week, Bloomberg Business posted an article stating Abu Dhabi, for its part, is the next regional hub for asset management. The city is managing world’s 2nd largest sovereign wealth; with only Norway leading to the Abu Dhabi Investment Authority.
ADIA, the wealth fund owned by Emirate of Abu Dhabi, employs about 130 CFAs; a person who knew the insights told. Abu Dhabi Investment Company, the next in line, has at least 51 CFAs employed. That makes them the two largest employers of CFA’s in the region — according to the Charlottesville, a Virginia-based CFA Institute.
The article also stated that Abu Dhabi, which manages 6% of the world’s proven oil reserves, has plans to bring major investments of the region to the emirate. This asset management industry will be in Abu Dhabi instead of Dubai, according to Apostolos Bantis, a Dubai-based credit analyst at Commerzbank AG.
Plans like these are making the demand of CFA holders increase. CFA candidates have a deeper understanding of subjects including securities valuation and portfolio management. Thus allowing investment firms and banks to keep them in both investment and back-office roles.
However, with the rise of demand, the graduates pursuing this 3-test program has also increased. According to CFA institute, 159,889 enrolled for the exams in June and every one out of five candidate is from Middle East and Africa.
As most of the CFA candidates are working professionals, time management is the real asset. TIPS, UAE, aiming to be a leading CFA training institute in Dubai, is trying to serve in this area through unique teaching methodologies that allows easy absorption of difficult concepts. For more details on our CFA program and our training faculty visit the following link http://tipsuae.com/courses-offered/cfa/
Reference: http://www.bloomberg.com/news/articles/2015-06-18/cfas-dominant-in-abu-dhabi-as-wealth-funds-trump-banks