ABU DHABI: The National Bank of Abu Dhabi NBAD’s Sukuk Income Fund, has earned a total income of USD 798,923.60 which is equivalent to 2.33 per cent of the Net Asset Value as at 27 November 2014 which includes the intended dividend pay-out of USD 0.1203 per unit.
Eligible investors who are units holders as of the Fund’s register of 27 November 2014, which takes into consideration any subscription amounts and accounts for any redemptions requests, had successfully been accepted by the Fund by close of 26 November 2014 and scheduled for processing according to the NAV of 27 November 2014.
The dividend pay-out will be based on the pay-out preference opt-out by the investor at the time of subscription. For those investors who selected “re-invest”, the dividends will be reinvested at the NAV of 4 December2014 while for those who selected cash pay-out; the proceeds will be credited into their NBAD accounts by 16 December 2014.
“We are delighted to announce such a rewarding income figure for the fund,” said Ian Clarke, Head of Fixed Income at NBAD’s Asset Management Group: “In a market that has been challenged by the US interest rate outlook, geo-political events and declining oil prices, we are particularly pleased that Sukuk Income Fund continues to create wealth through capital appreciation and attractive income generation.” “Sukuk market stands out with its unique value proposition for its robust credit strength, macroeconomic qualities within GCC and liquidity in the Islamic space,” said Ali Soner Guney, the Fixed Income Fund Manager at NBAD Asset Management Group.”Despite some global headwinds, we target the fund to remain as a pioneer investment and diversification vehicle in 2015 with robust income with attractive capital appreciation.” NBAD’s Asset Management Group manages assets in excess of AED 11.9 billion, making it one of the largest of its kind in the UAE. It won a host of awards in recognition of its innovative and customer-centric products that continue to perform exceptionally.
For instance, it was 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.