Abu Dhabi: The National Bank of Abu Dhabi’s NBAD Mena Bond Fund will pay its investors a semi-annual distribution equal to 1.75 per cent for USD share class and 1.61 per cent for the AED share class of the Net Asset Value (NAV) per unit of $5.0533 and Dh5.0881, being the NAV as at March 27, 2014.
Accordingly, each unit in the Fund will receive a dividend pay-out of $0.089 for the USD share class and Dh0.082 for the AED share class.
The Fund earned a total interest equivalent to $2.119 million for USD share class and Dh948,858 for the AED share class in the period from September 26, 2013 until March 27, 2014.
Investors who have successfully subscribed into the Fund by March 26, 2014 will be eligible for dividends. The dividend pay-out method will be based on the pay-out preference each investor in the Fund had selected at the time of subscription.
Accordingly, dividend reinvestment will be based on the unit net asset value (NAV) of April 9, 2014 while dividend pay-out in the form of cash will be paid out within 60 business days from the Ex-Dividend Date of March 31, 2014.
“2014 started with a positive tone for bond markets. Globally, Mena stands out with its unique value proposition for its unrivalled credit quality coupled with abundant liquidity and the Fund proves to be the pioneer investment vehicle to tap into this opportunity,” said Ali Soner Guney, the Fixed Income Fund Manager at NBAD Asset Management Group.
