Al Masah Capital continues to set new benchmarks in performance as it offers a second consecutive $2 dividend payout for all of its investors through its MENA Dividend Fund. Launched only 6 months ago, the fund is targeting a payout of a 6-8% annual dividend in 4 quarterly payments. Based on current payouts of 4% in just 6 months, the target of 8% annual payout is very much in sight.
"We are achieving our objectives of paying out quarterly dividends and after only 6 months of operation we are on track and keeping to our schedule," said Shailesh Dash, CEO of Al Masah Capital.
MENA Dividend Fund is the only UCITS IV fund in the region. Al Masah Capital was one of the first regional investment companies to receive the UCITS IV license from the CSSF (Luxembourg's monetary authority). The fund follows strict risk and compliance parameters that are based on international standards and has the distinction of being one of the first regional Funds to implement the UCITS regime on local markets.
According to Dash, "In addition to having an infrastructure with global relevance and appeal, this fund also targets a specific investment strategy giving it a rather unique status. MENA markets enjoy one of the highest dividend yields in the world with an average of 4-5%. Against this, the AMCL Fund's target dividend rises to 6-8%."
"We are very pleased to make this second consecutive dividend announcement," Dash added. "This is tangible evidence of our commitment to both investors and shareholders and belief in our own abilities to match investor expectations. By paying out a $4 dividend after only 6 months, we are offering commitment, reliability and trust, all of which form the basis of our credibility."
Regional markets have further fuelled the 2013 rally with Qatar and Saudi also catching up strongly in the last quarter. "Our portfolio has done well at capturing the capital appreciation available," says Akber Naqvi, Executive Director, Al Masah Capital, "and all regional markets still provide compelling valuation opportunities. Our portfolio gains are primarily based on capital appreciation thus far and with us projecting a portfolio dividend yield of 6-8% around March, we are well placed to achieve double digit returns on an annual basis."
Al Masah Capital's investment management team has over 15 years of global and regional portfolio and fund management experience, managing AUM's in excess of $600million. By utilizing a unique combination of fundamental valuation and technical market trigger techniques, AMCL's team manages Funds and Portfolios that have consistently outperformed the market and its peers. It recently closed and returned a portfolio that had a 2 year PWC audited performance of +18% compared to a market performance of +3%.
Fund Details:
Name: AMCL MENA Dividend Fund (UCITS IV SICAV)
Duration: Open ended with weekly liquidity
Minimum investment: Class A - USD 10,000; Class C - USD 500,000
Domiciled: Luxembourg
Target return: dividend payout of 6-8% + capital appreciation = total return expected approx 15%
© Press Release 2013
