Al Hilal fund gives 1.94% dividend

Al Hilal Bank has announced the dividend payout of its Al Hilal Global Balanced Fund. The fund, which was launched in 2014, distributed a 1.94 per cent dividend to all registered unit holders as of January 24, 2017.

The fund aims to generate appropriate periodic revenue, giving investors a chance to receive dividends and achieve long-term capital growth by investing in a globally diversified portfolio of high dividend-yield stocks and Shariah-compliant fixedincome securities, or sukuk.

The distribution equalled 1.94 per cent of the fund’s net asset value (NAV), based on the initial NAV of $10.