Gemini to distribute NBAD funds

Gemini Investment Management is to manage the European distribution of two Mena funds on behalf of the National Bank of Abu Dhabi (NBAD).

Gemini to distribute NBAD funds


The UK-based investment manager, which works with asset managers in the UK and globally, will be marketing the NBAD Mena bond fund and the NBAD Mena Dividend Leaders Funds across Europe.

The funds are being seeded with $100m and $50m respectively, both are open-ended and domiciled in Ireland.

The bond fund will be launched on 25th March and $200m will be transferred into it from the bank’s UAE-domiciled Cautious Income fund following the launch, of which the bond fund is a replica.

The equity fund will launch two weeks after the bond fund.

A spokesperson for Gemini said that the offerings would be attractive to investors as many UAE businesses are part owned by the government, so corporate debt has a sovereign backing.

There is also significant growth beyond oil production in the region, and commercial centres are being established across Dubai, Abu Dhabi and Oman.




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