Emirates NBD Asset Management lauded at 2012 MENA Fund Manager Performance Awards

Press release

Published January 29th, 2012 - 05:40 GMT

Al Bawaba

Emirates NBD Asset Management Limited, the asset management arm of Emirates NBD, announced today that its Emirates Global Sukuk Fund was recognised as “Specialist Fund of the Year” at the 2012 MENA Fund Manager Performance Awards.

The Emirates Global Sukuk Fund is a US Dollar denominated, Shari’a compliant, daily-traded, open-ended fund that invests in a diversified portfolio of Sukuk issued by companies locally and globally. The primary investment objective of the fund is to achieve high income as well as capital growth.

‘Emirates NBD Asset Management is very proud to have received the award for the Specialist Fund of the Year for our Global Sukuk Fund,” said Deon Vernooy, Senior Executive Officer, Emirates NBD Asset Management. “Today’s announcement is a reflection of our strong commitment to deliver superior products to our investors, through our disciplined research-driven approach to fund management. Our team is one of the most experienced in the Sukuk market and have been pioneers in developing this growing asset class.”

The Emirates Global Sukuk Fund is suitable for investors with a medium to long term investment horizon and viewed as a medium risk product. It achieves diversification by investing in a basket of Sukuk with various maturities, from a variety of issuers locally and globally. Certain share classes of the fund make income distributions on a semi-annual basis, derived from income generated by the underlying Sukuk or maturity proceeds of Sukuk.

“The global Sukuk market is one of the most exciting asset classes available to investors today, growing by over 100 per cent last year in terms of issuance volume,” said Usman Ali Ahmed, Head of Fixed Income, Emirates NBD Asset Management. “The fund is perfectly positioned to take advantage of this opportunity. Going forward there is a healthy pipeline of new issuance and we anticipate another positive year.

The Emirates Global Sukuk fund was selected as the winner of the award by a panel of judges comprising of representatives from MENA Fund Manager, leading institutional and private investors and industry experts. Adjudication was based on performance as well as qualitative and structural criteria and the winners were announced at a recent gala dinner attended by top industry players.

Emirates NBD Asset Management has won several other awards including “Equity Manager of the Year” from Global Investor in 2011, “Asset Management firm of the year” at MENA Investor Awards 2009 and “Best Fund Management Company” at the Arab Achievement Awards 2011.

Emirates NBD Asset Management is regulated by the Dubai Financial Services Authority and based in the Dubai International Financial Centre.

Background Information

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.