NBAD’s Mizaat delivers 2.50%

The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, will distribute the equivalent of  2.50% of the Fund’s net asset value (NAV) of AED 3.6377, being the NAV as of July 11, 2013. 

This represents the payout ratio of 35.59% of the Fund’s income from November 1, 2012 to July 11, 2013. All those investors who successfully subscribed to the Fund on or prior to July 9, 2013 will be eligible for the dividend distribution. 

“We are pleased that UDF continues to remain an outstanding and a market leader Fund. A testament to the success of the UDF is that it is delivering dividend to investors while providing exposure to a blend of asset classes,” said Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group. “Our strategy continues to yield very positive results for our clients. 

Mizaat was named last year the Best Regional Investment Fund in the prestigious Banker Middle East Products Award 2012, which is organized by Banker Middle East magazine. 

Mr. Khokhar also said,: “Our primary goal is to optimize benefits for our investors; we believe one way to do that is by giving them the choice to reinvest their dividend into the fund and increase their share in UDF.” 

UDF, created in 2006, is managed by NBAD’s Asset Management Group which aims to provide investors returns by investing in a blend of fixed income, real estate, and equities, with emphasis on dividend growth and stable recurring income streams. UDF managers seek returns over the medium-term via active management of asset classes, sector rotation and stock picking. UDF managers invest in the UAE and across the GCC region. 

NBAD’s Asset Management Group manages assets in excess of AED5 billion, making it one of the largest of its kind in the UAE.