Stacy Pereira
- Nasdaq partner Primrose secured an In-Principle Approval from the Financial Services Regulatory Authority of ADGM.
- The leading quant fund plans to tap into the $500 billion Family Office Market in the UAE.
- Quant managers will be able to deliver institutional-grade digital- and traditional-asset strategies to Gulf investors.
Data driven asset manager, Primrose has secured an in-principle approval from the Financial Services Regulatory Authority (FSRA) of ADGM. The nod will allow quant manager to deliver institutional-grade digital- and traditional-asset strategies to Gulf investors. This also marks the Nasdaq partner firms’ first steps towards full Financial Services Permission (FSP).
By applying for the FSP license, Primrose plans to offer Middle East investors direct access to its machine learning-powered strategies. These services will be available to family offices, sovereign entities, and institutional investors in the region. With this move, Primrose aims to connect two rapidly growing pools of capital.
Family offices in the Gulf now manage over $500 billion in assets and are showing growing interest in systematic hedge fund strategies. Primrose is well-equipped to meet this demand with transparent, risk-managed products spanning global futures, options, and digital asset derivatives.
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Moreover, the trend of “regulation-as-a-service” provides institutional investors with certainty to meet their growing demand, making hubs like Abu Dhabi a destination of choice. “Regulated market access is non-negotiable for today’s sophisticated investors. ADGM’s clear, technology-forward rulebook gives us the certainty to scale our platform while upholding the highest standards of governance and client protection,” said Linus Ong, Chief Investment Officer at Primrose Capital Management.
Primrose will work closely with the FSRA to secure its full license in the coming months. It expects to launch MENA-domiciled feeder funds in the second half of 2025, it stated in its press release. This will give Gulf investors seamless access to Primrose’s flagship Global Multi-Strategy and Digital Options programmes.
