NBAD Launches Shari'a Dividend Fund

The National Bank of Abu Dhabi (NBAD) has launched NBAD Shari'a MENA Dividend Leader Fund, which invests in select dividend-paying companies traded on the most promising MENA equities markets.

The Fund is inspired by and modeled after NBAD MENA Dividend Leader Fund (MDL), an accomplished, award-winning fund.

“Inspired by the success of NBAD MENA Dividend Fund, we designed a comparable product for investors who are interested in Shari'a-compliant investment,” says Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group. “NBAD Shari'a MENA Dividend Leader Fund allows investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients.

“Moreover, I am confident that like its conventional paradigm, NBAD Shari'a MENA Dividend Leader Fund may provide rich dividends to investors.”

Recently, MENA Dividend Leader Fund was voted Newcomer Fund of the Year 2013 by Zawya at the MENA Asset Management Conference and Awards 2014.

NBAD Shari'a MENA Dividend Leader Fund allows investors to tap into strong, dividend-paying companies that have the potential to deliver attractive and consistent levels of income with opportunity for capital appreciation. It would invest in bourses of Saudi Arabia, UAE, Qatar, Oman, Kuwait, Egypt, Jordan, Morocco and Tunisia.

The Fund is actively managed by the Equity desk of NBAD’s award-winning Asset Management Group. In addition to the recent award won by MENA Dividend Leader Fund, NBAD’s Asset Management Group has been named Asset Manager of the Year by the prestigious Global Investor/ISF at their Middle East Summit and Awards 2013. It has also been named the Best Asset Management House 2013 by the International Takaful Award, won the Best GCC Equity Fund 2014 and Best Exchange Traded Fund of 2013 at the MENA Fund Manager Performance Awards, and the Best Sukuk Fund 2013 at the Islamic Business & Finance Award. The Asset Management Group manages assets in excess of AED10.4 billion, making it one of the largest of its kind in the UAE.

NBAD Shari'a MENA Dividend Leader Fund is UCITS IV compliant – regulated by the Central Bank of Ireland. Northern Trust Group, a reputed service provider, acts as the Fund’s administrator and custodian.

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