nbad\s mizaat fund delivers 25
Last Updated : GMT 15:47:27
Arab Today, arab today
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NBAD\'s Mizaat Fund delivers 2.5%

Arab Today, arab today

Arab Today, arab today NBAD\'s Mizaat Fund delivers 2.5%

Abu Dhabi - WAM

The National Bank of Abu Dhabi (NBAD), will distribute the equivalent of 2.50% of the Mizaat Fund\'s net asset value (NAV) of AED 3.6377, being the NAV as of July 11, 2013. This represents a payout ratio of 35.59% of the fund\'s income from November 1st, 2012 to July 11th, 2013. All those investors who successfully subscribed to the fund on or prior to July 9th, 2013 will be eligible for the dividend distribution. \"We are pleased that the UAE Distribution Fund (UDF) continues to remain an outstanding market leader. A testament to the success of the UDF is that it is delivering dividends to investors while providing exposure to a blend of asset classes,\" said Saleem Khokhar, the Head of Equities at NBAD\'s Asset Management Group. \"Our strategy continues to yield very positive results for our clients. Last year, Mizaat was named the Best Regional Investment Fund in the prestigious Banker Middle East Products Award 2012. UDF, created in 2006, is managed by NBAD\'s Asset Management Group which aims to provide investors\' returns by investing in a blend of fixed income, real estate, and equities, with emphasis on dividend growth and stable recurring income streams. UDF managers seek returns over the medium-term via active management of asset classes, sector rotation and stock picking. UDF managers invest in the UAE and across the GCC region. NBAD\'s Asset Management Group manages assets in excess of AED5 billion, making it one of the largest of its kind in the UAE.

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