NBAD MENA Dividend Leader Fund has announced a semi – annual dividend of over 2.65% for the period from 1st October 2015 to 31st March, 2016.
Eligible investors who had successfully subscribed into the Fund by 31st March, 2016 were entitled for a semi-annual dividend distribution which equals to 5.58% for USD share class, 5.56% for the AED share class, 5.37% for the EURO share class and 5.59% for the DHABI (USD) Share Class of the net asset value (NAV) as at 31st March, 2016. Accordingly, each unit in the Fund will receive a dividend payout of USD 0.130 for USD share class, AED 0.129 for the AED share class, EUR 0.107 for the EURO share class and USD 0.907 for the DHABI share class .
The dividend payout will be based on the payout preference selected by the investor at the time of subscription. For those who selected the re-investment option, the dividends will be reinvested on 14th April, 2016 and for those who have selected the cash payout option, the proceeds will be credited into their NBAD bank account by the 18th April, 2016.
NBAD’s MENA Dividend Leader Fund invests in an array of stocks and equities across markets and exchanges. The fund aims to provide its clients with a regular income stream while investing in blue chip equities with relatively lower volatility. MDL Fund is UCITS- IV compliant and follows stringent risk spreading rules.
“The global economic environment continues to be a challenging with the knock-on impact on financial assets. In spite of such challenges, the fund is pleased to announce its semi-annual dividend distribution of 2.75%. The yield on the fund remains above 5.5%, backed by relatively stable earnings growth. The fund also has the credit of being the number one fund in the MENA region in the first quarter of 2016”. Says Rameshwar Tiwary, Senior Fund Manager at NBAD’s Global Asset Management.
The fund investment process aims to capture attractively priced companies that have the ability & willingness to increase their dividend overtime and also offering the potential for capital appreciation.
NBAD’s Global Asset Management manages assets in excess of AED 8.3 billion, making it one of the largest of its kind in the UAE.