Emirates NBD Asset Management Limited, the asset management arm of Emirates NBD Bank, announced strong dividends to be distributed on its income range of funds for the first half of 2012, on Monday.
The dividends approved by the boards of the Jersey-based funds cover the trading period from January 1, 2012 to June 30 2012. They are as follows: Emirates Mena Fixed Income Fund: 2.5 per cent (based on June 30, NAV, annualised five per cent); Emirates Mena High Income Fund: 2.5 per cent (based on June 30, NAV, annualised five per cent) and Emirates Global Sukuk Fund: two per cent (based on June 30 2012 NAV, annualised four per cent).
The year-to-date (YTD) total return for the Emirates Global Sukuk fund as at August 9, stands at 7.42 per cent, while the YTD total return for the Emirates Mena Fixed Income Fund 10.11 per cent. The Emirates Mena High Income Fund has returned an equally strong 5.80 per cent.
The positive performance of the open-ended funds in a depressed global financial scenario, points to the expertise in fund management at the asset management division of Emirates NBD.
The funds cover Islamic and regional debt instruments, as well as a high yielding equity-based product. The performance of all three has been strong when compared to their peers over the first half of this year, with both the fixed and high income suites delivering significant capital growth.
Overall, the annualised income distributions of the three funds for the first six months of 2012 were in the range of four to five per cent in US Dollar terms.
Khaleejtimes
