The National Bank of Abu Dhabi’s (NBAD) MENA Bond Fund will pay to its investors a semi-annual distribution equal to2.18% for US dollar share class and 1.51% for the dirham share class of the Net Asset Value (NAV) unit of US$4.9556 and AED4.9556, being the NAV as at September 26, 2013. Accordingly, each unit in the Fund will receive a dividend pay-out of $0.1082 dollar share class and AED0.0749 for dirham share class.
The Fund earned a total interest equivalent to $2.75 millionsince March 19, 2013(the inception date) toSeptember 26, 2013.
“We are pleased to announce yet another good income figure for the fund,” said Mark Watts, the General Manager, Head and Chief Investment Officer of NBAD’s Asset Management Group. “The NBAD MENA Fund offers investor an effective mechanism to diversify their investments and generate income.”
Investorswho have successfully subscribed into the Fund by September25, 2013 or prior, will be eligible to receive the dividends.
“Our outlook for the next 12 months is positive for MENA markets and we believe that investors will comfortably outperform cash holding in 2013 as the macro outlook improves and regional liquidity remainshigh,” says Ali Soner Guney, the Fixed Income Fund Manager at NBAD.
The NBAD MENA Bond Fund is an open-ended, actively managed bonds based fund, targeting attractive profit rates with semi-annual distributions.
NBAD’s Asset Management Group is a winner of many accolades and awards. Recently, it was named the Best Asset Management House in the Middle East by International Takaful Awards for the second year running. Other awards includeFixed Income Fund Manager by Global Investor magazine, the UAE Asset Manager of the Year in MENA Fund Manager Performance Awards from Mena Fund Manager magazine, and Best Asset Manager in the UAE, also from Global Investor.
NBAD's Asset Management Group (AMG) is one of the largest asset managers in the region with AED 7.39 billion under its management as on September 26th 2013.