Arab Today, arab today enbd aml announces dividends of 4 to 5
Last Updated : GMT 19:38:39
Arab Today, arab today
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ENBD AML announces dividends of 4 to 5%

Arab Today, arab today

Arab Today, arab today ENBD AML announces dividends of 4 to 5%

Dubai - Arabstoday

Emirates NBD Asset Management Limited (AML), the asset management arm of Emirates NBD Bank (ENBD), on Monday announced strong dividends to be distributed on its income range of funds for the first half of 2012. The dividends approved by the boards of the Jersey-based funds cover the trading period from Jan.1, 2012 to June 30, 2012. The dividends approved by boards are Emirates Mena Fixed Income Fund: 2.5 per cent, Emirates Mena High Income Fund: 2.5 per cent and Emirates Global Sukuk Fund: 2 per cent. The year-to-date (YTD) total return for the Emirates Global Sukuk fund as at Aug.9, 2012 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 4 to 5 per cent in US dollar terms. “The strong performance of our income range of funds is evidence of investor confidence both in the regional markets and in Emirates NBD’s asset management arm,” said Deon Vernooy, Head of Emirates NBD Asset Management. “Despite the downturn in the global financial scene, we have been able to consistently return high profits for our investors, as proven by the half-yearly dividend payout this year, which comes on the back of a similar performance in the first half of last year as well. Emirates NBD Asset Management offers a range of conventional and Islamic products that offer exposure to regional and global markets. With over 50 financial specialists from 14 different countries, it forms one of the largest asset management firms in the region. From gulftoday

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