The National Bank of Abu Dhabi’s NBAD Cautious Income Fund will pay to its investors a semi-annual distribution equal to 3.4% of the net asset value (NAV) unit of 5.3615, being the NAV as at March 27, 2014.
The Fund has earned a total income of USD 4,556,399.97 from 26th September 2013 (Last EX-Dividend date) until 27th March 2014.
Investors who have successfully subscribed into the Fund by 26th March 2014 will be eligible for dividends. The dividend pay-out method will be based on the pay-out preference each investor in the Fund had selected at the time of subscription. Accordingly, dividend reinvestment will be based on the unit net asset value (NAV) of 3rd April 2014; while dividend pay-out in the form of cash will be paid out within 12 business days from the Ex-Dividend Date.
“Confirming our expectations, 2014 started with a positive tone for bond markets. Globally, MENA stands out with its unique value proposition for its unrivalled credit quality coupled with abundant liquidity and the Fund proves to be the pioneer investment vehicle to tap into this opportunity.” says Ali Soner Guney, the Fixed Income Fund Manager at NBAD Asset Management Group.
Moreover, NBAD’s Asset Management Group 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, Best Exchange Traded Fund 2013 and Exchange Traded Fund of 2013 by MENA Fund Manager Performance Awards, and Best Sukuk Fund 2013 by Islamic Business & Finance Award.
NBAD’s award-winning Asset Management Group controls assets in excess of AED 7.9 billion, making it one of the largest of its kind in the UAE.