NBAD MENA Dividend Leader Fund delivers 6.3% dividends (Annualised)

The National Bank of Abu Dhabi’s(NBAD)MENA Dividend Leader Fund (MDL)will pay to its investors a semi-annual distribution equal to2.57%of the UnitNet Asset Value (NAV) of USD5.7241 for the USD share class and of AED5.7239 for the AED share class, being the NAVs as at September 26, 2013. Accordingly, each unit in the Fund will receive a dividend pay-out of USD0.1474 for the USD share classand AED0.1472 for the AED share class.

The total dividend amount of around USD3.22million covers the period from 12 March, 2013 (the inception date) to26 September, 2013.

“NBAD’s MENA Dividend Leader Fund has been a successful vehicle for investors to tap into an array of stocks and equities across markets and exchanges” says Mark Watts, CIO at NBAD’s Asset Management Group. 

 Investors who have successfully subscribed into the Fund by 25 September, 2013 or prior, will be eligible to receive the dividends.

“NBAD MDL Fund invests infundamentally strong blue chip stocks with sustainable cash flow, attractive dividend yield and capital growth potential that are traded in the MENA markets,” says Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group. “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 and has returned a total of 14.48% since its inception in March of this year.”

He adds: “This Fund allows investors an instrument 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 offer.”

Looking at the outlook for markets, Mr. Khokharsays: “We at NBAD’s Asset Management Groupexpect the fundamentals of the Fund to be positive over the coming 12 months.

Most GCC economies remain strong and in addition, elevated oil prices have provided a welcome boost to the region and we expect local economies to continue to buck the global economic trend and provide solid returns for investors.”

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.