The National Bank of Abu Dhabi’s NBAD MENA Income growth fund has earned an equivalent to AED 4,168,984.58 an equivalent to an annualized yield of 4.4% during the period from August 8th , 2014 to February 5th , 2015.
Eligible investors who have successfully subscribed into the Fund by February 5th, 2015 are entitled for a semi-annual dividend distribution which equals to 2.0% of the net asset value (NAV) as at February 5th, 2015, accordingly, each unit in the Fund will receive a dividend pay-out of AED 0.083086.
The dividend pay-out will be based on the pay-out preference adopted by the investor at the time of subscription. For those who selected “re-invest”, the dividends will be reinvested on February 9th, 2015 based on the NAV of February 8th, 2015, for those who selected cash pay-out; the proceeds will be credited into their NBAD’s accounts on February 23rd, 2015.
“NBAD’s MENA Income and Growth Fund invests in equities, fixed income and real estate in the region. The Fund caters to investors that require a blend of income and capital appreciation on a sustainable basis. The Fund aims to achieve its objectives by investing in fundamentally strong blue chip MENA stocks with sustainable cash flow, attractive dividend yield and capital growth potential. The Fund also benefits from the regular rental income from the real estate exposure in prime location in UAE, providing steady source of income with limited volatility,” said Saleem Khokhar, Head of Fund Management & Equities at NBAD’s Global Asset Management.
“The fund investment research process aims to uncover attractively priced companies that have the ability and willingness to increase their dividend overtime” said Rameshwar Tiwary, Senior Fund Manager at NBAD’s Global Asset Management.
NBAD’s Global Asset Management (GAM) manages assets in excess of AED10.4 billion, making it one of the largest of its kind in the UAE. NBAD GAM has won a host of awards in recognition of its innovative and customer-centric products that continue to perform exceptionally. In 2015, NBAD GAM won the Best Exchange Traded Fund, the Best UAE Fund for its flagship NBAD UAE Growth Fund, the best New Fund Launch in 2014 for the NBAD Shariah MENA Dividend Leader Fund and finally, the Best MENA Fund for the NBAD Islamic MENA Growth Fund. In addition, NBAD GAM was named Asset Manager of the Year by the prestigious Global Investor/ISF at their Middle East Summit and Awards 2014. It has also been named the Best Asset Management House 2013 by the International Takaful Award. Moreover, it won the Best Exchange Traded Fund of 2013 at the MENA Fund Manager Performance Awards in addition to the Best Sukuk Fund 2013 at the Islamic Business & Finance Award and Best GCC Equity Fund 2014.