The key features of the fund include access to a diversified portfolio of MENA fixed income securities, option of semi-annual income distribution, open-ended with weekly dealing and an estimated yield of approximately 6%.
The fund will be managed by Emirates NBD Asset Management (Emirates NBD AM), a provider of a full range of investment products and services and the asset management arm of the Emirates NBD group.
Moreover, the fund is a cell of Emirates Portfolio Management PCC, a protected cell company incorporated in Jersey, Channel Islands, UK.
Jamal Bin Ghalaita, group deputy CEO of Emirates NBD, said: “The launch of this fund is part of our continuous efforts at Emirates NBD to present clients with innovative financial solutions. The MENA region is currently attractive and capable of delivering high-level returns for investors. The broader economy here remains robust, supported by 60% of global oil reserves and 40% of global gas reserves.”
Deon Vernooy, head of Emirates NBD AM, said: “The launch of this fund coincides with an increase in demand for fixed income funds in the region over the past year. With recent developments in the regional fixed income fund market, the next three quarters will be an opportune time for investors. There is now increased clarity in the risk/return profiles of existing and new issues providing a more attractive platform for investment.”
