Strong dividends announced for Emirates NBD income funds

DUBAI - Emirates NBD Asset Management Limited, the asset management arm of Emirates NBD Bank, on Monday announced strong dividends to be distributed on its income range of funds for the second half of 2012, in line with the dividend payments delivered in the first half of the year.

By (Staff Report)

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Published: Tue 29 Jan 2013, 11:12 PM

Last updated: Sat 4 Apr 2015, 9:42 AM

Full year dividends approved by the boards of the Jersey-based funds covering the trading period from January 1 to December 31, include Emirates Mena Fixed Income Fund: five per cent (based on December 31, 2012 NAV, second half 2.5 per cent); Emirates Mena High Income Fund: five per cent (based on December 31, 2012 NAV, second half 2.5 per cent; Emirates Global Sukuk Fund: four per cent (based on December 31, 2012 NAV, second half two per cent).

The dividend payouts were approved following the exceptional year-to-date total return for the income range funds. As at December 31, 2012, the YTD return for the Emirates Global Sukuk fund stands at 10.64 per cent, while the YTD total return for the Emirates Mena Fixed Income Fund was 15.23 per cent. The Emirates Mena High Income Fund also registered a significantly strong return at 8.30 per cent.

The performance of all three funds has been strong when compared to their peers during the year, with both the fixed and high income suites delivering significant capital growth. Overall, the annualised income distributions of the three funds for the first six months of 2012 were in the range of four to five per cent in US Dollar terms.

“The income range of funds managed by Emirates NBD Asset Management, appeals to investors looking for attractive income combined with capital growth as part of a diversified portfolio,” David Marshall, senior executive officer, Emirates NBD Asset Management. “The positive performance of the open-ended funds in a challenging global financial scenario, underlines our team’s ability and validates our investment process.”

“Our funds provide a perfect vehicle for income-seeking investors in both the conventional and Sharia compliant space, through funds investing in regional debt instruments, as well as in a conventional high yielding equity-based product.” he added. Emirates NBD Asset Management manages a range of conventional and Islamic products that offer exposure to regional and global markets across most asset classes. With a team of financial specialists from around the globe, it forms one of the largest asset management firms in the region.

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