NBAD launches Sharia Dividend Fund

The National Bank of Abu Dhabi (NBAD) has launched NBAD Sharia MENA Dividend Leader Fund, which invests in select dividend-paying companies traded on the most promising MENA equities markets.
The Fund is inspired by and modelled after NBAD MENA Dividend Leader Fund (MDL), is an accomplished, award-winning fund.
"Inspired by the success of NBAD MENA Dividend Fund, we designed a comparable product for investors who are interested in Sharia-compliant investment," says Saleem Khokhar, the Head of Equities at NBAD's Asset Management Group. "NBAD Sharia MENA Dividend Leader Fund allows investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients.
"Moreover, I am confident that like its conventional paradigm, NBAD Sharia MENA Dividend Leader Fund may provide rich dividends to investors." Recently, MENA Dividend Leader Fund was voted Newcomer Fund of the Year 2013 by Zawya at the MENA Asset Management Conference and Awards 2014.
NBAD Sharia MENA Dividend Leader Fund allows investors to tap into strong, dividend-paying companies that have the potential to deliver attractive and consistent levels of income with opportunity for capital appreciation. It would invest in bourses of Saudi Arabia, U.A.E., Qatar, Oman, Kuwait, Egypt, Jordan, Morocco and Tunisia.
Source: WAM