Dubai
Al Hilal Bank said its sukuk fund, which was launched in March 2012, distributed a 3.93 per cent dividend to all registered unit holders as at February 8.
The distribution equalled 3.93 per cent of the Fund’s net asset value (NAV) based on the initial NAV of $10. The positive performance of the fund amid a low interest rate environment and global uncertainty reflects the fund management expertise, the asset manager said in an emailed statement.
The Bank’s first fund, the GCC Equity Fund, was launched in 2011 and has performed strongly, despite highly volatile market conditions, delivering a healthy double-digit return of 23.16 per cent since inception.
