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The National Bank of Abu Dhabi’s (NBAD) Cautious Income Fund will pay to its investors a semi-annual distribution equal to3.34%of the unit net asset value (NAV) of US$5.3256 being the NAV as on September 26th, 2013. Accordingly, each unit in the Fund will receive a dividend pay-out of US$0.1779.
The total Fund income amount of about US$7.98 millionwill be paid out in full covers the period from March 28th2013 to September 26th2013.
“We are pleased to announce yet another good income figure for the fund” said Mark Watts, General Manager, Head and CIO of NBAD’s Asset Management Group. “In a world full of uncertainty, we are proud to have delivered positive total returns year to date and are still comfortably outperforming cash since inception.”
The Cautious Income Fund, launched to meet the market’s demand for low risk investment products, invests in MENA region fixed income instruments. The Fund has enjoyed successful growth to become the largest of its kind in the UAE in terms of assets by reaching US$239.4million (AED879.31million) as onSeptember 26th2013. The Fund’s performance since its inception on March 1st, 2012 till date has been strong with the return of6.85% (annualised).
On the outlook for markets, Mr. Ali Soner Guney, who is the co-manager of the Cautious Income Fund, said: “Despite short term concerns about Fed tapering and issues surrounding Syria, the region remain in a strong economic position and we are very comfortable with the direction that the economies are going. We see 2014 as a year in which we deliver good income driven returns for investors.”
The Cautious Income Fund’s yield is based on the Fund’s net asset value (NAV) on September 26th2013, which stood at US$5.3256. All investors as of that day are eligible to receive dividends. Investors, at the point of subscription, may opt to re-invest the dividend into the Fund instead of receiving a payout.
The NBAD Cautious Income Fund meets the need of investors who desire a low-risk product that would hedge against the uncertainty of equities market and real estate investment.
The NBAD Cautious Income Fund is open-ended and actively managed under the NBAD Growth Fund range. It is open to institutional and personal investors at a minimum subscription amount of US$500.
The Fund invests in a range of bonds and money market instruments predominantly in the UAE and wider MENA region. NBAD’s Asset Management Group, the Fund Manager, diversifies the Fund by paying close attention to risk minimization. The vehicles of investment include government and government-related entities as well as select corporations that fit the Fund’s profile.
NBAD’s Asset Management Group (AMG) is one of the largest asset managers in the region with AED 7.39 billion under its management as on September 26th 2013.
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