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NBAD launches shariah dividend fund

ABU DHABI, September 23, 2014

The National Bank of Abu Dhabi (NBAD) has launched its NBAD Shariah Mena Dividend Leader Fund, which will invest in select dividend-paying companies traded on the most promising Mena equities markets.

The fund has been inspired by and modelled after NBAD Mena Dividend Leader Fund (MDL), said a statement.

Saleem Khokhar, head of equities at NBAD’s Asset Management Group, said: “Inspired by the success of NBAD Mena Dividend Fund, we designed a comparable product for investors who are interested in Shari’a-compliant investment. The fund will allow investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients.

“Moreover, I am confident that like its conventional paradigm, NBAD Shariah Mena Dividend Leader Fund may provide rich dividends to investors.”

The fund will invest in bourses of Saudi Arabia, UAE, Qatar, Oman, Kuwait, Egypt, Jordan, Morocco and Tunisia.

It will be actively managed by the equity desk of NBAD’s Asset Management Group.  It is UCITS IV compliant – regulated by the Central Bank of Ireland.

Northern Trust Group, a reputed service provider, will act as the fund’s administrator and custodian. - TradeArabia News Service




Tags: Mena | NBAD | equity | Shariah | dividend |

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