It represents an annual profit of 6.4% after 3 months of their launch
"Shuaa" Distributes First Cash Dividend to Investors in "Nojoom" Funds
Jassim Al-Siddiqi: "The launch of the two funds was part of our strategic endeavors to increase permanent capital instruments."
Shuaa Capital announced yesterday that it will distribute the first cash dividends to investors in two of its Sharia-compliant funds, indicating that it will distribute 1% cash dividends for the last quarter of last year.
The company stated, in a statement, that this is the first cash dividend for the two funds, three months after their launch, and represents a 6.4% profit return to investors.
It reported that the “Active Nojoom Fund” and “Nojoom Balanced Fund” showed strong risk-adjusted performance during the first three months of their launch, as they achieved annual returns of 9% and 11.9%, respectively.
The company stated that the "Active Nojoom" and "Nojoom Balanced" funds, which were launched in the Abu Dhabi Global Market, during October 2020, are investing in a global portfolio of Sharia-compliant stocks, fixed income investments, and money market instruments.
"The launch of the two funds was part of our strategic endeavors to increase permanent capital instruments and stimulate recurring revenue growth, and for this we are pleased to distribute cash dividends only three months after the launch of the two funds," said Jassem Al-Siddiqi, CEO of the Shuaa Capital Group.
It is noteworthy that following the launch of the two "Nojoom" funds in October 2020, with a total volume of $ 75 million, the recently launched Sharia-compliant funds and the discretionary portfolios managed by Shuaa reached $ 100 million on December 31, 2020. It is expected that they will provide The new funds are a wider choice for insurance and retirement fund investors, family offices, and high net worth individuals, while providing a long-term investment horizon.
They also provide a platform to assist investors in investing capital in the long term, generating regular and stable income from dividends, and further diversifying their investments.
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