Arab Today, arab today nbad dividend leader named newcomer fund
Last Updated : GMT 12:33:12
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NBAD dividend leader named newcomer fund

Arab Today, arab today

Arab Today, arab today NBAD dividend leader named newcomer fund

NBAD
Abu Dhabi - WAM

The National Bank of Abu Dhabi's (NBAD) MENA Dividend Leader Fund has been voted Newcomer Fund of the Year 2013 by Zawya at the MENA Asset Management Conference and Awards 2014.
"Having one of our funds, the MENA Dividend Leader Fund, win the Newcomer Fund of the Year is a genuine accomplishment and a confirmation of our team's innovation and commitment to design financial products that meet the market's evolving environment and demands," said Mark Watts, the Managing Director and Chief Investment officer of NBAD's Asset Management Group. "This award also confirms our leading role in facilitating the growth of the asset management business in the region." Launched in March 2013, MENA Dividend Leader Fund invests primarily in equities and equity-related securities (such as convertible bonds, ADRs and GDRs), especially in dividend-paying companies domiciled in MENA countries, Turkey and India; and/or companies which derive a significant proportion of their revenues and profits from, and/or maintain a significant portion of their assets in these countries.
The Fund strategically invests in fundamentally strong MENA blue chip stocks with sustainable cash flow, attractive dividend yield and capital growth potentials.
Currently the MENA Dividend Leader Fund is one of the largest equity funds in the region with AUMs in excess of AED 1.2billion as of end of May 2014.
"The MENA Dividend Leader Fund allows investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients; it reflects the sophisticated and successful funds that NBAD offers," said Saleem Khokhar, the Head of Equities at NBAD's Asset Management Group. "The Fund has continued to provide rich dividends to the investors, and its success is reflected by being named Newcomer Fund of the Year." This award adds to the slew of accolades awarded to NBAD's Asset Management Group. NBAD's Asset Management Group was named Asset Manager of the Year by the prestigious Global Investor/ISF at their Middle East Summit and Awards 2013. It has also been named the Best Asset Management House 2013 by the International Takaful Award. They also won the Best GCC Equity Fund 2014 and Best Exchange Traded Fund of 2013 at the MENA Fund Manager Performance Awards in addition to the Best Sukuk Fund 2013 at the Islamic Business & Finance Award.
NBAD says its award-winning Asset Management Group manages assets in excess of AED 8.3 billion, making it one of the largest of its kind in U.A.E.

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