The National Bank of Abu Dhabi (NBAD) has launched the Cash Plus Fund, a fund designed to offer liquidity, capital preservation and yield enhancement.
The NBAD Cash Plus Fund allows investors to benefit from higher rates than conventional deposits and availing liquidity. The Fund; designed for corporates, institutions and high net worth individuals (HNWI); suits clients who would like to benefit from higher returns on cash without giving up their liquidity position.
“NBAD Cash Plus enhances cash yield through investments into sophisticated money market instruments that are otherwise not accessible to investors; and allows them to retain the flexibility to access their investments on a daily basis,” said Anne Durand, Fixed Income Fund Manager at NBAD’s Asset Management Group. “This fund is a great investment alternative at a time when yield on cash is at historically low levels and there is a constant pressure to find avenues to maximize return on liquidity,” Anne added.
NBAD Cash Plus Fund is open for subscriptions in the form of private placements with a minimum subscription of AED250,000 with multiples of AED 100,000 thereafter. The Fund is an open-ended, actively managed product which aims to provide a yield in excess of overnight deposits, with income distributed daily in the form of additional units. It aims to capture the best opportunities available to investors by investing in a range of high quality money market instruments in the UAE and wider MENA region in addition to Asia and Europe.
The Fund managers will select high quality and liquid money market instruments, including term deposits, certificates of deposit, commercial papers, floating rate notes and short term bonds from banks and corporates in the MENA region, Asia and Europe. Assets will be diversified across a range of durations and liquidity terms in order to maximise the potential for high returns, while avoiding increase in volatility or hampering daily liquidity.
In line with NBAD’s reputation as one of the World’s 50 Safest Banks and the Safest Bank in the Emerging Markets, NBAD’s Cash Plus Fund will target an extremely high quality rating of AA- at all times, providing investors with peace of mind that their overnight cash is maintained in a safe investment while earning income daily.
NBAD Cash Plus Fund is designed by NBAD’s Asset Management Group, one of largest asset managers in the region with Dhs9bn under its management. It was named Asset Manager of the Year by the prestigious Global Investor/ISF at their 2013 Middle East Summit and Awards. It has also been named the Best Asset Management House in the Middle East by International Takaful Awards two years in a row. Other awards include Fixed 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.
“The launch of the NBAD Cash Plus Fund complements NBAD Asset Management’s existing award-winning range of products, and advances our strategy of offering investors opportunities and providing exceptional products to clients across the West-East Corridor,” said Ms. Durand.
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