Dubai: 28 April 2013 - Carnegie Asset Management Fondsmaeglerselskab A/S, a specialist global equity asset manager, is pleased to announce the opening of its Representative Office in the Dubai International Financial Centre (DIFC). The new office marks an important stage of expansion for the firm and will be the regional hub for the development of its business in the Middle East as well as selective markets in South-East Asia.

Marc Foss has been appointed as the Principal Representative and will head the firm's Middle East and South-East Asian business based in Dubai. Marc has 16 years of experience in the region and brings extensive experience both in portfolio management and business development. Prior to joining Carnegie Asset Management, he was regional head of business development at Silk Invest in Dubai. Before that, he held senior positions at the Abu Dhabi Investment Authority and Dubai International Capital.

Commenting on the appointment, Matthias Wiegand, Head of International Clients, said: "We are very pleased to have a presence in the DIFC which is an internationally recognized and leading financial centre. This move marks an important step in our growth and will allow us to fulfill one of our strategic initiatives, namely to expand our business in both the growing markets of the Middle East and selective markets in South-East Asia.

Marc's knowledge of the region together with his investment management and sales experience will allow us to market and raise awareness of CAM's stock-picking equity strategies. His addition to the team will enable us to develop and maintain long-term institutional client relationships based on professionalism and trust which is very much at the heart of the firm's culture".

Jeffrey Singer, CEO of DIFC Authority, said: "We are pleased to welcome Carnegie Asset Management to our community of financial and professional services firms. DIFC is not just a cornerstone of the Dubai and UAE economies, but is also the centre for attracting investment, supporting economic growth across the region, and enabling global capital flow. Carnegie Asset Management offers a strong proposition to regional investors and their decision to establish a regional base in DIFC will provide them with an ideal platform to facilitate capital flows into and out of Middle East and South-East Asian markets."

About Carnegie Asset Management Fondsmaeglerselskab A/S:
Carnegie Asset Management Fondsmaeglerselskab A/S is an independent and dedicated asset management firm specializing in managing concentrated, long-term global equity portfolios for institutional clients.

The firm was established in 1986 and is headquartered in Copenhagen, Denmark with a branch in Sweden and subsidiary companies under the CAM Group in Norway and Luxembourg.  CAM has approximately 90 employees and manages around USD 13 billion for clients around the world. The company has a long and established track record as one of the leading global equity asset managers in its field.

About DIFC
The Dubai International Financial Centre (DIFC) is the financial and business hub connecting the region's emerging markets with the developed markets of Europe, Asia and the Americas.

Since its launch in 2004, DIFC, a purposely built financial free zone, has been committed to encouraging economic growth and development in the region through its strong financial and business infrastructure. Currently, DIFC's client base comprises almost 912 active registered firms, including 19 of the world's top 25 banks, 8 of the world's ten largest insurers, 6 out of 10 top law firms, 11 of the top 20 money managers in the world. Around 14 thousand employees operate in an open environment complemented by international legal and regulatory standards. DIFC offers its member companies benefits such as 100 percent foreign ownership, zero percent tax rate, with no restriction on capital convertibility or profit repatriation. DIFC has its own independent financial and ancillary services regulatory body, the Dubai Financial Services Authority (DFSA). It also has the DIFC Courts, which is an independent common law judiciary based in DIFC with jurisdiction over civil and commercial disputes in or relating to the Centre.

DIFC is built upon a modern legal, regulatory and physical infrastructure which makes it the destination of choice for Financial Services firms establishing a presence in the region.

For further information, please visit our website: www.difc.ae, or follow us on Twitter @DIFC.

For further inquiries on DIFC, please contact:
Dubai International Financial Centre
Shaima Al Zarouni
PR Manager
Tel: +971 4 362 2432
shaima.alzarouni@difc.ae

© Press Release 2013