Fund Outperforms index 11.3% in 2011
Fund Manager bullish on GCC markets
Abu Dhabi - The National Bank of Abu Dhabi's (NBAD) UAE Distribution Fund (Mizaat) has been named the Best Regional Investment Fund in the prestigious Banker Middle East Products Award 2012, which is organised by Banker Middle East magazine.
The NBAD UAE Distribution Fund (UDF), an open-ended mutual fund launched in 2006, diversified mix of equities, fixed income and real estate. The Fund also aims to distribute dividends on a semi-annual basis. The Fund outperformed its index by 11.3% last year.
This latest accolade adds to NBAD's award-winning Asset Management Group. The Group won the Best Asset Manager in the UAE Award by Global Investor magazine, published by Euromoney. It was also named UAE Asset Manager of the Year in MENA Fund Manager Performance Awards by Mena Fund Manager Magazine.
In addition, Asset Management Group was awarded Best Investment Product in the prestigious Banker Middle East Products Award 2011 organised by Banker Middle East magazine.
"We are delighted that one of our products is recognised, once again, by Banker Middle East Products Award. This prestigious award confirms our leading status in the industry. It also reflects our continuous efforts to meet the demands of investors by introducing products that enhance investors' options and contribute to developing the UAE financial markets to world class level," says Alan Durrant, the Group Chief Investment Officer of NBAD and General Manager of Asset Management Group.
"NBAD's financial products continue to outperform the market, thanks to the highly skilled, professional fund managers who have accomplished this in turbulent markets. Asset Management Group's investment strategy is backed by the most sophisticated and capable research capabilities to provide world class services to our clients," Mr. Durrant said.
NBAD's Asset Management Group has greatly enhanced the diversity of financial products in the UAE and GCC markets by introducing a number of innovative financial products that expanded investors' options.
"We are positive on the future prospects of the GCC region and in particular Saudi Arabia, UAE and Qatar as they provide a combination of strong macroeconomic and deep discounted valuations plays that will likely drive the market in 2012," says Saleem Khokhar, the Head of Equities at NBAD's Asset Management Group, who has been managing the UAE Distribution Fund (Mizaat) since 2009.
The UAE Distribution Fund is an open-ended Fund and requires an initial subscription of AED 10,000, with multiples of AED 1,000 thereafter. The fund is also available through the NBAD Smart Investment Plan, with a minimum initial subscription of AED 5,000 and multiples of AED 1,000 thereafter.
Rameshwar Tiwary, Portfolio Manager, has received the award on behalf of NBAD's Asset Management Group.
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About NBAD
The National Bank of Abu Dhabi (NBAD), The Number One Bank in UAE, was incorporated in 1968 and is listed on the Abu Dhabi Securities Exchange (ADX), under stock code (NBAD).
Ranked as one of the top 50 safest banks in the world, NBAD currently operates across 13 countries on four continents.
NBAD has a network of more than 119 branches and 500 ATMs to provide banking services to customers all over the UAE.
Besides brick & mortar branches, NBAD provides 24 hour internet banking access through NbadOnline and NbadDirect, the SMS-based payment service (Arrow) as well as account access and personalised customer support through its 24-hour Call Centre.
NBAD's overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C.; Egypt, Libya, and Sudan in Africa; UK, France, and Switzerland in Europe; Hong Kong and Jordan in Asia to Washington, D.C. in the U.S.A. Overall, NBAD has nearly 50 branches and 60 ATMs outside the UAE.
NBAD provides its customers with a wide variety of financial services targeting all segments of the consumer and corporate markets.
NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution.
For further enquires, please contact:
Ehab Khairi
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190
Email: ehab.khairi@nbad.com
Web: www.nbad.com
© Press Release 2012
