Fund Performance

DEWS publishes audited financial statements for FY 2025

DEWS reports net investment gains of USD 113.4m for members in FY2025, more than double the gains reported in FY 2024 (USD 41.8m).

By Nisha Braganza

DEWS, the first official EOSB Plan in the DIFC, has reported USD 113.4m in net investment gains for members in FY2025, more than double the gains reported in FY 2024 (USD 41.8m) according to its latest audited financial statements.

AUM growth

Assets under Management (AUM) grew 42% over the year reaching USD 1.12b (excluding cash at bank). The increase in AUM was driven approximately two-thirds by net contributions (USD 236.8m) and one-third by net investment gains (USD 113.4m).

Where the money sits

The default option (Mercer Multi Asset Balanced Growth Fund) accounts for 54% of AUM (USD 607.9m) as at 31 December 2025, down from 76% in 2020. The gradual decline likely reflects members becoming more familiar with the Plan's other investment options that have built longer performance track records over time. Other diversified funds account for 29% of total AUM, equity-based funds 10%, and money market and fixed income funds the remaining 7% combined.

Separately, Shariah-compliant assets (which cut across fund categories) represent a smaller 7% share of total AUM.

Membership growth

Active membership grew 13% over the year, from 47,888 to 54,091, with DIFC-based employees driving most of the growth (up 15.5%, to 43,229) compared to Dubai Government members (up 3.9%, to 10,862).

H1 2026

AUM is estimated to have grown a further by 17% in H1 2026, reaching ~USD 1.32b as at 30 June 2026, as reported in the Q2 2026 GCC EOSB Monitor. This excludes cash and the National Bonds Mudarabah, for which comparable data is not publicly available. Despite the ongoing geopolitical uncertainty, all DEWS funds finished H1 2026 in positive territory.

Takeaways

Six years in, DEWS offers a useful benchmark for the newer EOSB schemes emerging across the GCC, illustrating how funded, professionally managed workplace savings plans can compound over time.

Looking ahead, market volatility will continue to test EOSB investment strategies in 2026, but the positive performance across all DEWS funds during H1 is encouraging. These schemes are designed for long-term investing, where regular contributions and diversified portfolios help smooth market volatility over time. Importantly, members can generally remain invested after leaving employment, reducing the need to exit investments during periods of market stress. As always, past performance is not indicative of future returns, and members should consider their own circumstances when making investment decisions.