ENBD Asset Management announces dividend payouts of 5%

Emirates NBD (ENBD) Asset Management Limited, the asset management arm of Emirates NBD Bank, on Monday announced high dividend distributions on its income range of funds for the first half of 2011.The funds, which cover Islamic and regional debt instruments, as well as a high yielding equity-based product, delivered annualised income distributions of 4.5 per cent to 5 per cent in US dollar terms for the first six months of the year. All three funds have performed strongly against peers over the period with the fixed income suite delivering significant capital growth as well.The running yield of the three funds averaged 5.21 per cent, 4.8 per cent and 4.44 per cent respectively over the period.“Emirates NBD Asset Management’s services in the income space appeal to investors seeking attractive income and capital growth as part of a diversified portfolio, and includes funds focusing on regional equities, regional fixed income, regional real estate and global asset allocation,” said Jamal Bin Ghalaita, Group Deputy CEO, Emirates NBD. “The strong performance of our income range of funds is evidence of investor confidence both in the regional markets and in Emirates NBD’s Asset Management arm.”Commenting on the distributions, Deon Vernooy, Head of Emirates NBD Asset Management, said: “We are aware that, with confidence and liquidity returning, the risk free rate in the region has fallen significantly.” From / Gulf today