NBAD Dividend Leader fund wins top honour
Abu Dhabi, July 14, 2014
The National Bank of Abu Dhabi’s (NBAD) Mena Dividend Leader Fund has been voted ‘Newcomer Fund of the Year 2013’ by Zawya at the Mena Asset Management Conference and Awards 2014 held in Dubai recently.
Launched in March last year, the Mena Dividend Leader Fund invests primarily in equities and equity-related securities (such as convertible bonds, ADRs and GDRs), especially in dividend-paying companies domiciled in Mena countries, Turkey and India; and/or companies which derive a significant proportion of their revenues and profits from, and/or maintain a significant portion of their assets in these countries.
The fund strategically invests in fundamentally strong Mena blue chip stocks with sustainable cash flow, attractive dividend yield and capital growth potentials.
Currently the fund is one of the largest equity funds in the region with AUMs in excess of Dh1.2billion ($326.6 million) as of end of May this year.
Mark Watts, managing director and chief investment officer of NBAD’s Asset Management Group, said: “Having one of our funds win the Newcomer Fund of the Year is a genuine accomplishment and a confirmation of our team’s innovation and commitment to design financial products that meet the market’s evolving environment and demands.”
Saleem Kokhar, head of equities, said: “The fund allows investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients; it reflects the sophisticated and successful funds that NBAD offers.” - TradeArabia News Service