The fund is targeting annual returns of 5% by investing in a range of bonds and money market instruments in the UAE and wider Mena region. It is open to both institutional and retail investors with a minimum investment of $500.

 

“The Cautious Income Fund is set to become a flagship fund for NBAD,” said Alan Durrant, CIO and general manager of NBAD’s asset management group. “Our fixed income team has delivered strong returns for institutional clients in 2011 and I am delighted that these skills are now available for everyone to access through this fund.”

 

The launch plans were first announced in September 2010, and in February 2011, Durrant told Mena FM that it would be brought to market before the summer.