NBAD launches liquidity management fund
Abu Dhabi, July 2, 2014
The National Bank of Abu Dhabi (NBAD) has launched the Cash Plus Fund, a fund designed to offer liquidity, capital preservation and yield enhancement.
The NBAD Cash Plus Fund allows investors to benefit from higher rates than conventional deposits and availing liquidity.
The Abu Dhbai lender said the fund, which is designed for corporates, institutions and high net worth individuals (HNWI), suits clients who would like to benefit from higher returns on cash without giving up their liquidity position.
“NBAD Cash Plus enhances cash yield through investments into sophisticated money market instruments that are otherwise not accessible to investors; and allows them to retain the flexibility to access their investments on a daily basis,” remarked Anne Durand, the fixed income fund manager at NBAD’s Asset Management Group.
“This fund is a great investment alternative at a time when yield on cash is at historically low levels and there is a constant pressure to find avenues to maximize return on liquidity,” she noted.
NBAD Cash Plus Fund is open for subscriptions in the form of private placements with a minimum subscription of Dh250,000 ($66,822) with multiples of Dh100,000 thereafter.
The fund is an open-ended, actively managed product which aims to provide a yield in excess of overnight deposits, with income distributed daily in the form of additional units, said the UAE lender.
It aims to capture the best opportunities available to investors by investing in a range of high quality money market instruments in the UAE and wider Mena region in addition to Asia and Europe, it added.
The Cash Plus Fund is designed by NBAD’s Asset Management Group, one of largest asset managers in the region with Dh9 billion under its management, said Durand.
“The launch of the NBAD Cash Plus Fund complements NBAD Asset Management’s existing award-winning range of products, and advances our strategy of offering investors opportunities and providing exceptional products to clients across the West-East Corridor,” she added.-TradeArabia News Service