Abu Dhabi-based Islamic lender Al Hilal Bank has rolled out its latest Global Balanced Fund that has been designed for investors seeking to invest in the growth and income potential of Shariah-compliant equities and sukuk from globally.
Featuring weekly subscription and redemption, the new fund is an open-ended and Shariah-compliant investment instrument which aims to deliver a steady stream of annual income to investors through coupon from sukuk, stock dividends, as well as any capital appreciation.
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Al Hilal Bank’s investment banking group will serve as investment manager of the fund while Zurich-based Credit Suisse has been appointed as the investment advisor.
HSBC Bank Middle East Limited will serve as the custodian and administrator of the fund.
Generally, the Al Hilal GCC Equity Fund invests minimum 75% of assets in equity securities, leveraging a disciplined and rigorous stock selection process. It also tries to satisfy investors’ preference for low-risk investments that guarantee stable returns and regular income.
Al Hilal Bank investment banking group head, Lim Say Cheong, said, "Driven by the strong performance of our earlier funds, we have decided to introduce yet another fund to expand our array of investment solutions and to meet our investors’ demand."
"Our new medium-risk fund will offer a globally diversified portfolio of high dividend yield stocks and Shariah-compliant fixed income securities managed by a team of high experience professionals from our Investment Banking Group."
