The National Bank of Abu Dhabi said on Tuesday it has launched the NBAD Shariah Mena Dividend Leader Fund, which invests in select dividend paying companies traded on the equity markets in that region.
“NBAD Shariah Mena Dividend Leader Fund allows investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients,” said Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group.
NBAD Shariah Mena Dividend Leader Fund allows investors to tap into strong, dividend-paying companies that have the potential to deliver attractive and consistent levels of income with opportunity for capital appreciation.
“Moreover, I am confident that like its conventional paradigm, NBAD Shariah Mena Dividend Leader Fund may provide rich dividends to investors,” said Khokhar.
It would invest in bourses of Saudi Arabia, UAE, Qatar, Oman, Kuwait, Egypt, Jordan, Morocco and Tunisia. The Asset Management Group manages assets in excess of Dh10.4 billion, making it one of the largest of its kind in the UAE.
NBAD Shariah Mena Dividend Leader Fund is UCITS IV compliant – regulated by the Central Bank of Ireland. Northern Trust Group, a reputed service provider, acts as the Fund’s administrator and custodian.
