DEWS April 2026: Record highs after March volatility

2026 is becoming a useful example of how outcomes under EOSB Savings Schemes can differ from the traditional gratuity system (where an employee's entitlement is fixed).

For employers and employees who are not yet participating in a savings scheme, now is a good time to observe how scheme outcomes move with financial markets and can change relatively quickly.

Here's a look at how DEWS (a DIFC Plan for end-of-service benefits) is riding the tide.

DEWS registers record highs in April 2026

What initially appeared to be an early market rebound in April has translated into an increase of approximately USD 90mn in total assets under management (AUM) during the month, more than offsetting the decline recorded in March.

At the same time, most investment funds within the scheme, particularly those with higher equity exposure, reached their highest unit net asset values (NAVs) since inception.

What drove the recovery?

DEWS funds are largely exposed to US financial markets, and during April, US equities rallied as geopolitical tensions in the Middle East eased, oil prices declined and corporate earnings expectations remained strong following the first quarter reporting season.

As a result, all DEWS funds moved higher during the month:

• Money market funds: +0.2%
• Fixed income funds: up to +1.6%
• Diversified funds: up to +8.2%
• Equity-heavy strategies: up to +12.6%

The gains pushed almost all funds back into positive territory on a year-to-date basis.

What does this tell us?

Under a savings scheme, outcomes move with markets in either direction: March showed the downside, April showed the recovery. Similar swings were also observed previously in early 2025, for example.

These changes can happen quickly and at scale, which is why long-term fund performance is more meaningful than monthly fluctuations when evaluating savings scheme outcomes.

The results further highlight that employee outcomes can vary significantly depending on the investment strategy selected. Although all DEWS funds generated positive returns in April, the difference between a 0.2% gain and a 12.6% gain illustrates how investment choice can materially influence outcomes over time.

GO SAVER's April 2026 performance will be covered separately in a future update.