Fund outperforms MSCI UAE Index benchmark 38.5%
Abu Dhabi, UAE, 28 May 2008: The National Investor (TNI), one of the region’s leading merchant banks is celebrating the third anniversary of one of its flagship funds, the TNI UAE Blue Chip Fund which has returned +22% since inception in May 2005.
The fund is primarily focused on publicly traded equities of UAE firms with large capitalization which present a steady and recurrent track record of earning growth and have a potential for capital appreciation. TNI UAE Blue Chip Fund has returned +4.8 percent year-to-date compared to its benchmark’s -3.8 percent return.
The fund’s current net asset value (NAV) is AED 12.22 and its top holdings include ArabTech, Etisalat, Aldar and Emaar. Allocations are based on fundamental research and incorporate a blend of top-down and bottom-up analysis.
The fund manager, Walid Hayeck said: “TNI UAE Blue Chip Fund is just one of a suite of GCC and MENA focused funds that TNI manages. Our consistent out performance is attracting global attention, including interesting institutional mandates and we are in the process of restructuring to accommodate such interest as soon as possible.”
|Blue Chip Fund||MSCI UAE|
|2006||-32.9 %||-44.5 %|
|2007||+54.9 %||+44.5 %|
|2008||+6.5 %||-3.8 %|
TNI UAE Blue Chip Fund:
About The National Investor: The National Investor (TNI) is a privately owned regional investment and merchant banking group. The firm comprises six strategic business units covering investment banking, private equity, asset management, real estate, principal investments, and investment research. In addition, the firm has an associate company, Gulf National Securities Centre (GNSC), which provides brokerage services as a registered member of the Abu Dhabi Securities Market (ADSM), the Dubai Financial Market (DFM), and Dubai International Financial Exchange (DIFX).