Abu Dhabi - Al Hilal Bank announced the dividend payout of its Al-Hilal Global Balanced Fund. The Fund, which was launched in 2014, distributed a 1.94% dividend to all registered unit holders as of January 24th, 2017.
Al Hilal Global Balanced Fund aims to generate appropriate periodic revenues on its Investments, giving the Investors a chance to receive periodic dividends, and achieve long-term capital growth by investing in a globally diversified portfolio of high dividend-yield stocks and Shariah compliant fixed-income securities (Sukuk).
The distribution equaled 1.94% of the Fund’s net asset value (NAV) based on the initial NAV of US$ 10. The positive performance of the fund amidst a low interest rate environment and global uncertainty reflects the fund management expertise of Al Hilal Bank’s Investment Banking Group, the Fund Manager, and its Investment Advisor, Credit Suisse – Asset Management.
Al Hilal Bank currently offers 3 open-ended mutual funds inclusive of the Global Balanced Fund. The Bank’s first fund, the GCC Equity Fund, was launched in 2011 and has performed strongly despite highly volatile market conditions, delivering a healthy double digit return of 22.81% since inception. The GCC Equity fund was awarded “Best Islamic Fund” by the Banker Middle East UAE Product Awards in 2013 and 2014. On the other hand, the Global Sukuk Fund, launched in 2012, aims to generate a regular stream income as well as achieve capital growth by investing in a global universe of Shariah-compliant fixed-income securities (Sukuk) issued by sovereign, quasi-sovereign and corporate organizations. The fund also distributed a 3.83% dividend to all registered unit holders as of January 24th, 2017.
The bank plans to continue launching investment products as part of its ongoing effort in creating value and to increase diversification for its clients and investors.
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About Al Hilal Bank
Al Hilal Bank was established in June 2008 with an authorized capital of AED 4 billion and is fully owned by the Abu Dhabi Investment Council, the investment arm of the Government of Abu Dhabi. The bank is Shariah-compliant and operates through a network of 24 branches strategically located across the United Arab Emirates as well as 3 other branches in major cities of Kazakhstan. Al Hilal Bank rated A+ by Fitch and A1 by Moody’s aims to become the leading financial institution in the region and is committed to increase the growth of Islamic banking by providing new direction, new technologies, and special services.
For more information:
Al Hilal Bank
Mariam Yousef Ahli
Head of Marketing and Corporate Communication
Email: myahli@alhilalbank.ae
Mob: 050 744 77 55
Habib El Joukhadar
Email: Habib.ElJoukhadar@viola.ae
Mob: 052 792 1656
© Press Release 2017
