The National Bank of Abu Dhabi (NBAD) has unveiled a new Shariah dividend fund that invests in select dividend-paying companies traded on the MENA equities markets.
Known as NBAD Shariah MENA Dividend Leader Fund, the UCITS IV compliant fund will allow investors to tap dividend-paying companies that have the potential to deliver consistent levels of income for capital appreciation.
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Managed by the Equity desk of NBAD ‘s asset management group, the fund will invest in bourses of Saudi Arabia, UAE, Qatar, Oman, Kuwait, Egypt, Jordan, Morocco and Tunisia.
Additionally, Northern Trust Group will serve as administrator and custodian for the fund.
Saleem Khokhar, head of equities at NBAD’s Asset Management Group, said: "NBAD Shariah MENA Dividend Leader Fund allows investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients.
"Moreover, I am confident that like its conventional paradigm, NBAD Shariah Mena Dividend Leader Fund may provide rich dividends to investors," he added.
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By GlobalData
