Dubai Investment Fund (DIF) publishes corporate earnings for 2021 | Company News

Dubai: The Dubai Investment Fund (DIF) recorded an increase in its operating profit of AED 14.3 billion in 2021, a gain of 27% over the amount of the previous year. DIF said this growth can be attributed to higher commodity prices and returns from industries unrelated to oil production.

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Revenue was also generated by real estate gains and projects in the ESG and AI sectors which redistributed risk and revamped the control of financial discipline. In 2021, DIF’s overall revenue was AED180.7 billion ($49.2 billion), an increase of 4.25% from the previous year. At the end of the year, DIF had total assets of AED1,184.6 billion ($322.2 billion) and total equity of AED878.1 billion ($231.1 billion). ).

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“We are mindful of global headwinds such as rising inflation, supply chain disruptions, rate hikes by central banks and the rising cost of borrowing for businesses,” said Amir Shams. , managing director and managing director of DIF.

“Such earnings growth has become possible due to a combination of successful management decisions, such as expanding the company’s geography and finding new investment projects, as well as external factors, such as the resumption of economic activity due to the phasing out of covid restrictions,” he added.

“These days, we are exploring potentially productive collaborations and expansions in various high-tech sectors. We have been through difficult times in the global economy because the company is focused on technology development and frequently performs risk management assessments for its clients’ and stakeholders’ investments,” said Mohammed Al-Rashid, Director DIF investments.

DIF is one of the largest investment and asset management companies in the United Arab Emirates. It has more than $320 billion in assets under management (AUM), as well as more than 7,300 clients located in 61 different countries.

The company’s first year of operation dates back to 2001, and today it employs 920 seasoned finance professionals with an average of 17 years of expertise in their respective industries. The company was founded in Dubai and is now present in 17 countries.

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Karen J. Nelson