Sunday 04, March 2018 by Jessica Combes

Al Hilal Global Balanced Fund and Global Sukuk Fund dividends announced


Al Hilal Bank has announced the dividend payout of its Al-Hilal Global Balanced Fund.

The Fund, which was launched in 2014, distributed a 17.78 per cent dividend to all registered unit holders as of February 8th, 2018, constituting 100 per cent of the distributable income as verified by the Fund’s independent auditors.

Al Hilal Global Balanced Fund aims to generate 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 Shari'ah compliant fixed-income securities (Sukuk).

The distribution equalled 17.78 per cent of the Fund’s net asset value (NAV) based on the initial NAV of $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 Asset Management Division, the Fund Manager, and its Investment Advisor, Credit Suisse–Asset Management.

Al Hilal Bank CEO, Alex Coelho, said that he was delighted with the Fund’s outstanding performance over the year, adding, “This exceptional growth shines a spotlight on the strengths of our Fund Managers, and is testimony to the success of our policy of constantly revising and improving our services to meet the needs of our clients. This dividend reflects our commitment to always strive for excellence by introducing innovative and progressive products.”

Al Hilal Bank currently offers three open-ended mutual funds inclusive of the Global Balanced 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 23.16 per cent since inception. The GCC Equity fund was awarded Best Islamic Fund by the Banker Middle East UAE Product Awards in 2013 and 2014.

Meanwhile, the Global Sukuk Fund, launched in 2012 and which aims to generate a regular stream income and achieve capital growth by investing in a global universe of Shari'ah-compliant fixed-income securities (Sukuk) issued by sovereign, quasi-sovereign and corporate organisations, also distributed a 3.93 per cent dividend to all registered unit holders as of 8 February 2018.

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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