The London-listed investment manager has announced its first strategic alliance outside of the UK.
Through the alliance, Abacus’ Dubai-based clients will have access to Brooks Macdonald’s range of international investment management services, including its discretionary multi-asset and direct equity and bond strategies, as well as its team of over 90 investment professionals across the UK and Channel Islands.
In addition, Brooks Macdonald will offer Abacus enhanced reporting, training and marketing support.
“This international strategic alliance is a first for Brooks Macdonald and an important step as we continue to extend our services and build on the positive momentum of our international strategy,” said Darren Zaman, chief executive, international at Brooks Macdonald.
Con Lillis, co-founder and director at Abacus, added: “The environment in Dubai is fast changing as financial regulation and client needs evolve with the times. Partnering with Brooks Macdonald – like us, a pioneer of fee-based advice – underlines how we are responding positively to these regulatory changes in Dubai, as local demand grows for quality, fee-based advice with well recognised discretionary investment managers.”
Brooks Macdonald had discretionary funds under management of £8.92 billion ($11.1 billion) as at 30 September 2016.