Dubai Financial Market announces listing of a new equity fund to invest in MENA equities

Dubai Financial Market (DFM) has announced listing a new open-ended equity fund on the market on March 26, 2006.

United Arab Emirates: Saturday, March 25 - 2006 at 15:34
PRESS RELEASE

Essa Kazim, Director General of Dubai Financial Market

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The fund, which is managed by National Bank of Dubai, has a primary objective to seek capital growth by investing in a portfolio of MENA Equities and Equity linked securities.

The initial subscription in the fund is AED 100,000, while the subsequent subscription is AED 50,000. The minimum client holding should remain at AED 100,000 or above.

Essa Kazim, Director General of DFM, said:

'This recent listing brings the total number of listed funds on DFM to 11 and total number of securities listed on the market to 50.'

The fund is given the symbol (NBD MENA). The symbol will appear on DFM screens, trading systems, and publications.

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About Dubai Financial Market
Dubai Financial Market was established as a public institution having its own independent corporate body. DFM is operating as a secondary market for trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market. The Market commenced operations on 26th March 2000.

For further information, please contact:
Tim Harrison
Tarek Fleihan
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556

Posted by Lara Lynn Golden, News Editor
Saturday, March 25 - 2006 at 15:34 UAE local time (GMT+4)

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This Article was updated on Saturday, March 10 - 2007

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