Al Hilal Bank Sukuk Fund de­clares 4.36pc div­i­dend

The Pak Banker - - COMPANIES/BOSS -

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.

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