Muscat - Al Hilal MENA Fund (AHMF) recently held its inaugural AGM in which a 25bz dividend was approved.
AHMF is the first and only Sharia'a-compliant, balanced fund within the entire MENA region. The fund managed by Ahlibank asset management is also the only Sharia'a-compliant fund sponsored by a bank in Oman, a press release said.
The fund has posted a return of 15 per cent - inclusive of the 25bz cash dividend payout in March 2014 - since its inception. This year the fund has registered a return of eight per cent, as on May 8, 2014.
AHMF invests in equities, sukuk and wakala of the region. The current investments span Oman, Qatar, the UAE and Saudi Arabia.
In the sultanate, the fund has investment holdings in corporate entities ideally suited to facilitate growth of the Omani youth labour force into a skilled resource and augment economic prosperity of the nation. AHMF has investments in petrochemicals, industrial chemicals, oil and gas exploration, industrial manufacturing, logistics, finance and real estate.
Commenting on the performance of the fund, C B Ganesh chairman of AHMF and deputy CEO of Ahlibank, expressed his happiness in the dividend payout of 25bz in the fund's inception year.
Deputy chairman, Shakil Rahman Tambe, commended Ahlibank for the fund management and administration services. "For investors seeking to manage their investments in a Sharia'a-compliant manner, AHMF is an ideal investment opportunity with its attractive return potential and commendable dividends which have begun from the inception year."
AHMF is available for subscription on a daily basis via the Al Hilal Banking Services branches and Ahlibank branches situated across Oman.
© Muscat Daily 2014
