• 15 Feb

    UAE's Al Hilal global Sukuk fund delivers 3.83% dividend

    Al Hilal Bank announced the dividend payout of its flagship fund, Al Hilal Global Sukuk Fund. The Fund, which was launched in March 2012, distributed a 3.83% dividend to all registered unit holders as of January 24th, 2017.

    Al Hilal Global Sukuk Fund’s objective is to generate a regular stream income as well as achieve capital growth by investing in a global universe of Shariah-compliant fixed-income securities (Sukuk) issued by sovereign, quasi-sovereign and corporate organizations.

    The distribution equaled 3.83% of the Fund’s net asset value (NAV) based on the initial NAV of US$ 10. The positive performance of the fund amidst a low interest rate environment and global uncertainty reflects the fund management expertise of Al Hilal Bank’s Investment Banking Group, the Fund Manager, and its Investment Advisor, CIMB-Principal Islamic Asset Management of Malaysia.

    Al Hilal Bank currently offers 3 open-ended mutual funds inclusive of the Global Sukuk Fund. The Bank’s first fund, the GCC Equity Fund, was launched in 2011 and has performed strongly despite highly volatile market conditions, delivering a healthy double digit return of 22.81% since inception. The GCC Equity fund was awarded “Best Islamic Fund” by the Banker Middle East UAE Product Awards in 2013 and 2014. On the other hand, the Global Balanced Fund, launched in June 2014, aims at generating appropriate periodic revenues on its Investments, giving the Investors a chance to receive periodic dividends, and achieve long-term capital growth by investing in a globally diversified portfolio of high dividend-yield stocks and Shariah compliant fixed-income securities (Sukuk). The fund also distributed a 1.94% dividend to all registered unit holders as of January 24th, 2017.

    The bank plans to continue launching investment products as part of its ongoing effort in creating value and to increase diversification for its clients and investors. 

     

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