The fund has achieved more than quadruple the amount in total returns than would have been achieved by an investor placing money in an overnight deposit during the same period.
The fund has achieved more than quadruple the amount in total returns than would have been achieved by an investor placing money in an overnight deposit during the same period.
Deon Vernooy, Senior Executive Officer at Emirates NBD Asset Management, says: “In a low interest rate environment, investors need to focus on earning the best profit rates from their liquid assets, and the Emirates Islamic Money Market fund is an ideal vehicle for investors seeking a cash allocation in their portfolio.
“The fund was launched based on a belief that conventional and Islamic investors want a liquid strategy that is daily-dealing and captures the higher profit rates offered by Islamic banks. The broad investor base and growing international distribution shows investors want their cash to be professionally managed.”
The Emirates Islamic Money Market Fund is a Shari’a-compliant investment that aims to achieve a higher return than traditional Shari’a-compliant bank deposits of similar liquidity. The fund primarily invests in a diversified portfolio of Shari’a-compliant money market instruments, including collectives investing in such instruments.
