Assets under Management (AUM) at AIFC grew 52% in Q3 of 2023 since Q1 of the same year, reaching an all-time high of $1 bln encompassing both asset and fund managers. This constitutes an almost two-fold increase against the same period last year. The overall number of funds increased from 20 to 37 in the same period.
As of the Q3 2023, hedge funds in AIFC primarily favour public market instruments and equity securities, as well as the Kazakhstani money market. Venture Funds in AIFC show a preference for investing in Fintech and Edtech startup companies in the Asian region. In Q3 of 2023, one of AIFC's venture capital-specialised fund managers experienced a 220% increase in subscribed capital compared to Q1 of the same year. The company primarily concentrates on funding startups in the FinTech, HrTech, and EdTech sectors. Instances such as these demonstrate investors' increased willingness to engage in AIFC's venture capital activities.
Increasingly more international firms show an interest in having a presence at AIFC as AFSA onboarded its first foreign fund manager, Equilibrium Capital Ltd, a Hungary-based company that is regulated by the Central Bank of Hungary.
Commenting on this continued growth in the asset and fund management at AIFC, the Chief Executive Officer of AFSA Nurkhat Kushimov said, “The latest figures show our long-term commitment to make AIFC the “go-to” place for fund managers that strive to do business efficiently and responsibly. These developments are the result of a strategic vision and consistent steps to make that vision a reality. For example, we have just finished public consultations to include ESG funds as a separate type of Specialist Funds within our fund management sector. We expect it to be enacted early next year. This is just one of many ongoing initiatives to make the fund management ecosystem at AIFC more comfortable for business.”
Reference:
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.
Over 2,300 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]
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