Al Hilal Global Sukuk Fund delivers 3.83 percent dividend

Al Hilal Bank has paid out a 3.83 percent dividend on its flagship fund, Al Hilal Global Sukuk Fund, to all registered unit holders as of January 24th, 2017.

Launched in March 2012, the fund's objective is to generate a regular stream of income as well as achieve capital growth by investing in a global universe of Sharia-compliant fixed-income securities, Sukuk, issued by sovereign, quasi-sovereign and corporate organisations.

The distribution equaled 3.83 percent of the fund’s net asset value, NAV, based on the initial NAV of US$10. The positive performance of the fund amidst a low interest rate environment and global uncertainty reflects the fund management expertise of Al Hilal Bank’s Investment Banking Group, the Fund Manager, and its Investment Advisor, CIMB-Principal Islamic Asset Management of Malaysia.

Al Hilal Bank currently offers three open-ended mutual funds inclusive of the Global Sukuk Fund. The bank’s first fund, the GCC Equity Fund, was launched in 2011 and has performed strongly despite highly volatile market conditions, delivering a healthy double digit return of 22.81 percent since inception. The GCC Equity fund was awarded Best Islamic Fund by the Banker Middle East UAE Product Awards in 2013 and 2014.

The Global Balanced Fund, launched in June 2014, aims at generating appropriate periodic revenues on its investments, giving investors a chance to receive periodic dividends and achieve long-term capital growth by investing in a globally diversified portfolio of high dividend-yield stocks and Sukuk. The fund also distributed a 1.94 percent dividend to all registered unit holders as of January 24th, 2017.

The bank plans to continue launching investment products as part of its ongoing effort in creating value and to increase diversification for its clients and investors.