best performing mutual fund in uae
The National Bank of Abu Dhabi’s UAE Distribution Fund (UDF) ‘Mizaat’ has become one of the biggest and best performing mutual funds in a short span of time, with the best performance in the UAE during 2006 and through June 2007. ‘Mizaat’, one of the most popular investment products launched in February 2006 managed to collect close to a billion dirhams in subscriptions in its first two weeks.
‘Mizaat’s’ investment goal is long-term growth of capital with safety. It invests the fund’s assets primarily in a balanced portfolio of equity securities, fixed income securities, and real estate assets, and may invest in GCC equities, international bond markets, and the UAE real estate sector.
“We truly believe this is one of the major factors in Mizaat’s exceptional performance, a diversified approach that is not overly reliant upon stocks. It has a tailored mix of outstanding real estate and fixed income investments that served as a cushion for investors during the recent market declines,” commented Mr. Nazem Al Kudsi, Chief Investment Officer
The fund managed to outperform the market by 22% in time period from inception in 2006 through the first half of 2007 and handily beating its competitors