Strong H2 2012 Dividend Payments Announced For Income Funds Managed By Emirates NBD Asset Management

Boards of Jersey-based funds approve dividend payouts for H2 2012
Total 2012 dividends touch between four and five per cent
Income fund suite returns strong performance

Emirates NBD Asset Management Limited, the asset management arm of Emirates NBD Bank PJSC, today announced strong dividends to be distributed on its income range of funds for the second half of 2012, in line with the dividend payments delivered in the first half of the year.

Full year dividends approved by the boards of the Jersey-based funds covering the trading period from January 1 to December 31, 2012 are as follows:

• Emirates Mena Fixed Income Fund: 5% (based on December 31, 2012 NAV, second half 2.5%)
• Emirates Mena High Income Fund: 5% (based on December 31, 2012 NAV, second half 2.5%)
• Emirates Global Sukuk Fund: 4% (based on December 31, 2012 NAV, second half 2%)

The dividend payouts were approved following the exceptional year-to-date (YTD) total return for the income range funds. As at December 31, 2012, the YTD return for the Emirates Global Sukuk fund stands at 10.64%, while the YTD total return for the Emirates Mena Fixed Income Fund was 15.23%. The Emirates Mena High Income Fund also registered a significantly strong return at 8.30%.

The performance of all three Funds has been strong when compared to their peers during the year, with both the fixed and high income suites delivering significant capital growth. Overall, the annualised income distributions of the three funds for the first six months of 2012 were in the range of 4 to 5 per cent in US Dollar terms.

“The income range of funds managed by Emirates NBD Asset Management, appeals to investors looking for attractive income combined with capital growth as part of a diversified portfolio,” David Marshall, Senior Executive Officer, Emirates NBD Asset Management. “The positive performance of the open-ended funds in a challenging global financial scenario, underlines our team’s ability and validates our investment process.”

“Our funds provide a perfect vehicle for income-seeking investors in both the conventional and Sharia compliant space, through funds investing in regional debt instruments, as well as in a conventional high yielding equity-based product.” he added.

Emirates NBD Asset Management manages a range of conventional and Islamic products that offer exposure to regional and global markets across most asset classes. With a team of financial specialists from around the globe, it forms one of the largest asset management firms in the region.

Emirates Global Sukuk Fund
The Emirates Global Sukuk Fund is a US Dollar denominated, Sharia compliant open ended fund invests in a diversified portfolio of Sukuk issued by companies locally and globally. The primary investment objective of the Fund is to achieve high income as well as capital growth.

Emirates MENA Fixed Income Fund
The Emirates MENA Fixed Income Fund is a US Dollar denominated open ended fund, which aims to achieve a high level of income as well as capital growth, predominantly through a diversified portfolio of MENA debt securities of varying maturities along with cash and other ancillary instruments.

Emirates MENA High Income Fund
The Emirates MENA High Income Fund is an open ended fund which aims to provide a high level of income from a managed portfolio of MENA assets. The fund will primarily invest in equities, but also take exposure to other suitable asset classes such as fixed income instruments, deposits and ancillary assets. Income will be distributed on a semi-annual basis with a target rate of USD 3 month LIBOR plus 300-500bps.

Emirate:  Dubai

Date: Jan 28, 2013

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