Emirates NBD Asset Management posts higher AuM in 2016

Dubai – Mubasher: Emirates NBD Asset Management saw a growth in its assets under management (AuM) by 29% year-on-year in 2016, according to a statement.

AuM rose from AED 10.65 billion ($2.99 billion) in 2015 to AED 14.14 billion ($3.85 billion) in 2016.

“Our extensive experience in emerging markets will be of importance as we seek fresh opportunities to deliver positive results in 2017,” according to Emirates NBD Asset Management’s CEO Tariq Bin Hendi.

The fund generated a net return of 7.7% for the year, closing 2016 with AuM of $149 million.

These results were backed by strong bond selection in the UAE and an underweight country allocation to Qatar.

“The fund paid a semi-annual dividend of 2.5% in December 2016, which translated into a total dividend of 5% for the year,” the statement said.  

Mubasher Contribution Time: 22-Feb-2017 08:47 (GMT)
Mubasher Last Update Time: 22-Feb-2017 10:24 (GMT)