NBAD MENA bond fund delivers dividend of 4.87% and 4.48%

April 17, 2014 4:11 pm

The National Bank of Abu Dhabi’s NBAD MENA Bond Fund will pay to its investors a semi-annual distribution equal to1.75%for $ share class and 1.61% for the Dhs share class of the Net Asset Value (NAV) per unit of $5.0533 and Dhs5.0881, being the NAV as at March 27, 2014.Accordingly, each unit in the Fund will receive a dividend pay-out of USD0.089 for the $ share class and Dhs0.082 for the Dhs share class.

The Fund earned a total interest equivalent to $2.119million for $ share class and Dhs948,858 for the Dhs share class in the period from September26th,2013 until March27th, 2014.

Investors who have successfully subscribed into the Fund by March 26th,2014 will be eligible for dividends. The dividend pay-out method will be based on the pay-out preference each investor in the Fund had selected at the time of subscription. Accordingly, dividend reinvestment will be based on the unit net asset value (NAV) of April9th, 2014 while dividend pay-out in the form of cash will be paid out within 60 business days from the Ex-Dividend Date ofMarch31st, 2014.

“2014 started with a positive tone for bond markets. Globally, MENA stands out with its unique value proposition for its unrivalled credit quality coupled with abundant liquidity and the Fund proves to be the pioneer investment vehicle to tap into this opportunity.” says Ali Soner Guney, the Fixed Income Fund Manager at NBAD Asset Management Group.

NBAD’s Asset Management Group named Asset Manager of the Year by the prestigious Global Investor/ISF at their Middle East Summit and Awards 2013. It has also been named the Best Asset Management House 2013 by the International Takaful Award,Best Exchange Traded Fund 2013 and Exchange Traded Fund of 2013 by MENA Fund Manager Performance Awards, and Best Sukuk Fund 2013by Islamic Business& Finance Award.
NBAD’s award-winning Asset Management Group controls assets in excess of Dhs7.9 billion, making it one of the largest of its kind in the UAE.

For further enquires, please contact:
Fadeela Khamis
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Tel: +97126111511