Al Hilal Global Sukuk Fund delivers 4.36% dividend
- United Arab Emirates: Sunday, February 03 - 2013 at 11:28
- PRESS RELEASE
Al Hilal Bank is pleased to announce the first dividend payout by its flagship fund, Al Hilal Global Sukuk Fund. The Fund which was launched in March 2012, will distribute 4.36% dividend and all registered unit holders of the Fund as of December 31, 2012 will be eligible to receive the dividend distribution
Commenting on the performance, Lim Say Cheong, Head of Investment Banking, said, "The Fund has registered an outstanding return of 6.5% after only nine months and we are proud to announce the first dividend payout. We are extremely pleased that The Fund has delivered an attractive return and payout through a relatively low risk investment product, thus satisfying our clients' requirements."
The distribution will equal 4.36% of the Fund's net asset value (NAV) based on the initial NAV of $10. The positive performance of the fund amidst a low interest rate environment and global uncertainty reflects the fund management expertise of Al Hilal Bank's Investment Banking Group, the Fund Manager, and its Investment Advisor, CIMB-Principal Islamic Asset Management of Malaysia.
Al Hilal Bank currently offers 2 open ended mutual funds inclusive of the Global Sukuk Fund. The AHB GCC Equity Fund was the first to be launched in 2011, and has delivered strong performance since inception despite highly volatile market conditions. The fund delivered a healthy double digit return of 13.23% in 2012 while return since inception is up 5.22%.
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