MUSCAT -- Al Hilal MENA Fund (AHMF) successfully concluded its inaugural AGM in which RO 25 baiza dividend declared, was approved.
AHMF is the first and only Sharia compliant, balanced fund within the entire MENA region. The fund managed by Ahlibank asset management is also the first and only Sharia Compliant fund sponsored by a bank in Oman. Fund returns since inception amounts 15 per cent, inclusive of RO 25 baiza cash dividend pay-out in March 2014. For the year 2014, fund has posted commendable returns of 8 per cent as on May 8, 2014.
AHMF invests into equities, sukuks and wakala of the region. The current investments represent geographical coverage spanning Oman, Qatar, United Arab Emirates (UAE) and Saudi Arabia. In Oman, the fund has investment holdings into Corporate ideally suited to facilitate growth of the Omani youthful labour force into a skilled resource and augment economic prosperity of the nation. AHMF diversified sector exposure constitutes investments into petro chemical, industrial chemical, oil and gas exploration, industrial manufacturing, logistics, finance and real estate.
Commenting on the performance of the fund, Chairman CB Ganesh (Chairman of the Fund and Dy. CEO of ahlibank SAOG), expressed his delight in informing the dividend pay-out of 25bps in its inception year.
Deputy Chairman, Shakil A Rahman Tambe, commended Ahlibank for their successful fund management and administration services. He also added, "for investors seeking to manage their investments in a Sharia compliant manner; Al Hilal MENA Fund (AHMF) is an ideal investment opportunity with its attractive return potential and commendable dividends which have begun from the inception year".
AHMF is available for subscription on a daily basis via the Al Hilal banking services branches (7) and Ahlibank branches (12) situated across Oman.
© Oman Daily Observer 2014
