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NBAD has top performing mutual funds in the UAE

United Arab Emirates: Saturday, September 10 - 2005 @ 10:12

“We have 3 funds to cater for different investor appetites and requirements”, he explained “A Trading Fund, which takes advantage of short-term buying and selling opportunities in the marketplace, a Growth Fund focussed on longer term growth prospects for the UAE economy, and an Islamic Fund where all investments are filtered for Sharia principles and approved by a recognised Islamic Scholar. Our Growth Fund, launched in October 2000 has delivered returns in excess of 500% since inception. We complemented this with the launch of our Trading Fund in January 2004 and the Islamic fund in January 2005.

“In the first quarter of this year the Trading Fund and Growth Fund delivered very attractive returns to our investors of 42% and 49 % respectively. Since the lst of April, this spectacular growth has continued with the Trading Fund delivering another 60% and the Islamic Fund 74 %. We believe that our Trading and Islamic funds are the two top performing mutual funds in the UAE”.

NBAD now manages over AED 6 billion of client investments across its 3 funds. It has over 4 years experience since pioneering the concept of locally-based mutual funds in October 2000.

“The funds attract large amounts of investment. As the prospects for the UAE economy and the UAE markets continue to look attractive, we believe that the growth in our assets under management and the performance that we deliver to our clients will continue to grow” Amos said.

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Saturday, September 10- 2005 @ 10:12 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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