SHUAA managed Nujoom funds announce first dividend

  • The maiden dividend represents annualized yield of 6.4% for the investors
  • SHUAA’s Nujoom Aggressive Fund and Nujoom Balanced Fund delivered strong first three months, with both achieving an annualized rate of return of 9.0% and 11.9% respectively
  • Following the launch of Nujoom funds in October 2020 with USD 75 million of commitments, SHUAA’s latest Sharia-compliant funds and discretionary portfolios under management reach USD 100 million by 31 December 2020
Jassim Alseddiqi, Group Chief Executive Officer of SHUAA Capital

United Arab Emirates: SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, today announced the first dividend for investors in two of its Sharia-compliant funds, offering a 1% cash dividend for the fourth quarter of 2020. The dividend is first dividend from the funds and within three months of their launch and translates to a 6.4% dividend yield for the investors. The Nujoom Aggressive Fund and Nujoom Balanced Fund have both delivered a strong risk adjusted performance in their first three months, achieving an annualized rate of return of 9.0% and 11.9% respectively. 

Established on the Abu Dhabi Global Market (ADGM) in October 2020, the Nujoom Aggressive Fund and the Nujoom Balanced Fund invest in a global portfolio of Sharia-compliant equities, fixed income investments and money market instruments. 

Having launched with initial commitments of USD 75 million, the funds have continued to attract significant investor interest in their first three months of operations. Following the launch of the Nujoom funds, SHUAA’s ICC funds and discretionary portfolios under management crossed USD 100 million mark as of 31 December 2020.

Commenting on the performance, Jassim Alseddiqi, Group Chief Executive Officer of SHUAA Capital, said: “We launched these funds as part of our strategic drive to increase our permanent capital vehicles and grow our recurring revenues. It is therefore pleasing that we are already paying dividends only three months after the launch of the funds and moreover, have increased our AuM across these vehicles and managed portfolios to over USD 100 million. This performance is testament to our expertise in developing and managing sharia-compliant investments that are uniquely designed to create long-term value for investors.”  

Ajit Joshi, Head of Public & Private markets at SHUAA Capital, added: “Our new funds and managed portfolios have performed very well within the first three months of launch and the increased commitments signal strong investor confidence in SHUAA’s managed portfolios and fund offering. We hope to maintain this trajectory of high performance and remain as ever committed to meeting investors’ increasing appetite for Sharia-compliant investment products.” 

The funds are expected to widen the choices available to insurance and pension investors, family offices, and HNIs with a long-term investment horizon. Furthermore, the funds also serve as a platform for investors to deploy long-term capital, generate stable periodic dividend income and further diversify their investments. 

Nujoom funds – both are Qualified Investor Fund domiciled in the ADGM, registered with the Financial Services Regulatory Authority (FSRA) and managed by SHUAA GMC Limited, a wholly owned subsidiary of SHUAA that is regulated by the ADGM FSRA.

About SHUAA Capital psc:

SHUAA Capital psc (DFM: SHUAA) is a leading asset management and investment banking platform, with c. USD 14 billion in assets under management and with offices throughout the Middle East and the United Kingdom. SHUAA Capital psc is recognized for its strong track record and pioneering approach to investing through a differentiated, innovative and global product offering focused on public and private markets, debt and real estate. 

The asset management segment, one of the region’s largest, manages real estate funds and projects, investment portfolios and funds in the regional equities, fixed income and credit markets; it also provides investment solutions to clients, with a focus on alternative investment strategies. The investment banking segment, provides corporate finance advisory, transaction services, private placement, public offerings of equity and debt securities, , while also creating market liquidity on OTC fixed income products. The firm is regulated as a financial investment company by the Emirates Securities and Commodities Authority.