Al Hilal Bank Sukuk Fund declares 4.36pc dividend
Al Hilal Bank is pleased to announce the first dividend payout by its flagship fund, Al Hilal Global Sukuk Fund. The Fund which was launched in March 2012, will distribute 4.36% dividend and all registered unit holders of the Fund as of December 31, 2012 will be eligible to receive the dividend distribution. Al Hilal Global Sukuk Fund's objective is to generate regular income as well as achieve capital appreciation by investing in globally-diversified Shariahcompliant fixed-income securities (Sukuk) issued by sovereign, quasi-sovereign and corporate organizations. Commenting on the performance, Lim Say Cheong, Head of Investment Banking said the Fund has registered an outstanding return of 6.5% after only nine months and we are proud to announce the first dividend payout. We are extremely pleased that The Fund has delivered an attractive return and payout through a relatively low risk investment product, thus satisfying our clients' requirements. The distribution will equal 4.36% 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.