Dubai: The National Bank of Abu Dhabi NBAD’s Sukuk Income Fund, has earned a total income of $798,923.60 which is equivalent to 2.33 per cent of the Net Asset Value as at November 27 2014, which includes the intended dividend payout of $0.1203 per unit.
Eligible investors who are unit holders ON the Fund’s register of November 27, which takes into consideration any subscription amounts and accounts for any redemptions requests, had successfully been accepted by the Fund by close of November 26 and scheduled for processing according to the NAV of November 27.
The dividend payout will be based on the payout preference opt-out by the investor at the time of subscription. For those investors who selected “reinvest”, the dividends will be reinvested at the NAV of December 4 while for those who selected cash payout; the proceeds will be credited into their NBAD accounts by December 16.
“In a market that has been challenged by the US interest rate outlook, geopolitical events and declining oil prices, we are particularly pleased that Sukuk Income Fund continues to create wealth through capital appreciation and attractive income generation,” said Ian Clarke, Head of Fixed Income at NBAD’s Asset Management Group.
“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 Dh11.9 billion, making it one of the largest of its kind in the UAE.
