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Al Joud GCC Equity Issues Second Class Shares
ABU DHABI - Abu Dhabi Investment House (ADIH) has announced issuance of second-class shares that will be paying out dividends under its existing Shari’a-compliant Al Joud GCC Equity Fund, which currently re-invests its dividends back into the market.
“The issuance of the new class of shares for Al Joud comes after ADIH conducted its due diligence in confirmation that now is an excellent time to invest within the GCC as valuations are very attractive, while the fundamentals of GCC economies and prospects of blue chip companies that Al Joud invests in are very sound”, Wael Mattar, head of ADIH Investment Advisory Group said.
Al Joud’s management team will be the same portfolio management team that has successfully managed funds that were exited within the ADIH portfolio such as Al Arabi Private Equity Fund and the Lagoon Fund.
The team has built a solid track record in identifying and purchasing relatively undervalued securities — based on extensive research.
Mattar further said, “With a solid track record that has surpassed expectations, we have demonstrated our team’s experience and are confident that the opportunities we offer our clients will grow from strength to strength.”
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