The National Bank of Abu Dhabi (NBAD) has been awarded the Best Asset Management House in Middle East by International Takaful Awards.
Takaful, which awarded the accolade based on financial achievement and client survey, recognised NBAD's Asset Management Group for itssuperior performance and its commitment to innovate and offer Shari'a-compliant products.
"Being named the Best Asset Manager is a result of our Group's commitment to provide innovative products and excellent client service," said Alan Durrant, the Group Chief Investment Officer of NBAD and General Manager of Asset Management Group.
"Adding this accolade to the list of other awards that AMG has recently won confirms that we continue to deliver innovative products which meet the highest expectations of investors and contribute to the development of the asset management industry in the country."
NBAD's Asset Management Group launched this year Sukuk Income Fund, which invests in a range of Islamic Fixed Income instruments (sukuk) and money market investments in the UAE and wider MENA region. The Fund aims to deliver attractive profit rates in a diversified fashion and hedge against downside risk.
NBAD's Asset Management Group, one of the largest asset managers in the region, has won several awards recently. Earlier this year, for instance, it won "Best Regional Fund" at Banker Middle East Product Awards 2012, "Best Fund Management Company" by Arab Achievements Awards 2012 and the UAE Asset Manager of the Year in MENA Fund Manager Performance Awards, presented by Mena Fund Manager magazine. NBAD has also been awarded the UAE Best Asset Manager of the Year Award from Global Investor Magazine, published by Euromoney.
NBAD's Asset Management Group delivered 9.26% returns for its fixed income for unconstrained institutional clients in 2011, despite tough conditions in financial markets.
Mark Watts, the Head of Fixed Income at NBAD's Asset Management Group, received the award on behalf of the bank.
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