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Emirates NBD Asset Management fixed income funds demonstrate strong performance in first year

May 11, 2011 - 01:26 -

WAM Dubai, May 11th, 2011 (WAM) -- Emirates NBD Asset Management, the asset management arm of Emirates NBD, announced today the one year anniversary returns of its three fixed income funds.

The past year witnessed asset attraction as well as robust performance for one of the top 10 asset management firms in the region.

The suite of fixed income funds includes an Islamic money market fund that has taken advantage of the higher profit rates in the region and returned nearly three per cent in the past year. This ranks it among the top 10 per cent of US Dollar Money Market funds globally. In comparison, over the same three-month period, US LIBOR returned just 0.37 per cent.

The two other bond products include the Sharia-compliant Emirates Global Sukuk Fund, which rose more than seven per cent in USD terms, and Emirates MENA Fixed Income Fund, with a focus on Middle Eastern government and company bonds, which returned more than nine per cent. These funds were aided by active management through recent market volatility, which protected the funds during downturns, and helped improve returns while dampening volatility.

Deon Vernooy, Senior Executive Officer at Emirates NBD Asset Management, said: "The first anniversary results of our fixed income funds is marked by excellent performance by our team. Our aim has always been to develop funds that exploit our skill set and offer a full suite of mutual funds for investors." The three funds were launched in March 2010, when the company expanded its fixed income suite by creating a standalone Islamic money market fund as well as a global Sukuk product. It also opened the Emirates MENA Fixed Income Fund, a conventional fixed income fund focused on the MENA credit markets.