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Emirates NBD Launches Fixed Income Fund
DUBAI — Emirates NBD announced on Saturday the launch of the Emirates MENA Fixed Income Fund. The fund will be managed by Emirates NBD Asset Management Limited, a provider of a full range of investment products and services and the asset management arm of the Emirates NBD group, the largest banking group in the Middle East in terms of assets.
This is an open-ended US dollar denominated fund, which aims to achieve a high level of income as well as capital growth, through investing in a portfolio of fixed-income instruments, predominantly from issuers in the MENA region.
Key features of the fund include access to a diversified portfolio of MENA fixed income securities, option of semi-annual income distribution, open-ended with weekly dealing, and an estimated yield of approximately 6 per cent.
The fund is a cell of Emirates Portfolio Management PCC, a protected cell company incorporated in Jersey, Channel Islands, United Kingdom. It is managed by Emirates NBD Asset Management, winner of the MENA Asset Manager of the Year 2009 award and a company regulated by Dubai Financial Services Authority.
“The launch of this fund is part of our continuous efforts at Emirates NBD to present clients with innovative financial solutions,” said Jamal Bin Ghalaita, Group Deputy CEO of Emirates NBD.
“The MENA region is currently attractive and capable of delivering high-level returns for investors. The broader economy here remains robust, supported by 60 per cent of global oil reserves and 40 per cent of global gas reserves,” he said.
“The launch of this fund coincides with an increase in demand for fixed income funds in the region over the past year,” said Deon Vernooy, Head of Emirates NBD AM.
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