The National Bank of Abu Dhabi’s NBAD MENA Dividend Leader Fund will pay to its investors a semi-annual distribution equal to 2.01% for USD share class and 1.98% for the AED share class of the Net Asset Value (NAV) per unit of USD 6.7355 and AED 6.7352, being the NAV as at March 27, 2014. Accordingly, each unit in the Fund will receive a dividend pay-out of USD 0.135 for the USD share class and AED 0.133 for the AED share class.
The Fund earned a total interest equivalent to USD 11.57 million for USD share class and AED 5.03 million for the AED share class since 26 September 2013 until the 27th March 2014, out which 46% will be distributed.
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 9th April 2014 while dividend pay-out in the form of cash will be paid out within 60 business days from the Ex-Dividend Date of 31th March 2014.
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 with relatively lower volatility. MDL Fund is UCITS compliant and follows stringent risk spreading rules.
“NBAD MDL Fund’s strategy to invest in fundamentally strong MENA blue chip stocks with sustainable cash flow, attractive dividend yield and capital growth potential continues to provide rich yield for investors,” says Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group. He adds: “This Fund allows investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients. The fund reflects the sophisticated and successful funds that NBAD offers.”
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 2013by 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.