Dubai: Al Mal Capital, which manages Dh2.2 billion in assets, has declared a 4 per cent dividend for unit holders of two of its funds — Al Mal UAE Equity Fund and Al Mal MENA Equity Fund — as they have outperformed their respective benchmarks so far this year.
Al Mal UAE Equity Fund grew 16 per cent year-to-date till September 30 compared with the index’s 7.2 per cent growth in the same period. Al Mal MENA Equity Fund grew 15.5 per cent in the same period, outperforming its index by 14.7 per cent, the company said in a statement on Monday.
“Al Mal equity strategies has consistently demonstrated resilience and growth, delivering exceptional returns for its investors,” Naser Nabulsi, Vice-Chairman and CEO of Al Mal Capital PSC, said in the statement. “This outstanding performance is a testament to the dedication and expertise of the fund managers, who have successfully navigated the ever-changing financial landscape to create substantial value for the unit holders. A well-diversified portfolio has been instrumental in achieving strong risk-adjusted returns, allowing the funds to perform admirably in various market conditions.”
The company’s real estate investment trust, too, has delivered good returns to investors this year. Al Mal Capital REIT (AMCREIT) recently announced that it has distributed Dh12.252 million in dividends to its unit holders for the period ended June 30.
Since its launch and subsequent listing on the Dubai Financial Market in January 2021, Al Mal Capital REIT has shored up its asset portfolio through steady acquisitions. Some of them include that of Al Shola Schools in November 2021 and Wesgreen International School (two campuses) in February 2023. Following the Wesgreen acquisition, AMCREIT has successfully deployed 0.95 per cent of the unit holders’ equity raised as part of the initial public offering. AMCREIT is focused on growing its real estate portfolio around the targeted sectors of social infrastructure (education and health care) and industrials.
Naser Al Nabulsi said: “AMCREIT has showcased a robust performance in the initial half of the 2023 financial year. The acquisition of our second asset led to the nearly full deployment of our investors’ capital and expanded the REIT’s asset portfolio to its current size of Dh578 million. We maintain a positive outlook for the remainder of the year, as we continue to execute our investment strategy aimed at fortifying our portfolio in specified sectors.”