UNB Al Itihad Fund And Al Samaha Fund Performance

Treasury & Investment Division of Union National Bank announces the performance of its investment products for the period ending March 2014.

Al Itihad Fund posted a performance rise of 17.4%, (S&P UAE Domestic 20.5%) as of Q1-2014. The Fund’s objective is to achieve Capital appreciation by investing in best of breed collective investment vehicles in the UAE, mainly in publicly traded equities.

Al Samaha Islamic Fund, which invests in Shariah Compliant large caps across the Middle East region, achieved a return of 16.11% (S&P GCC & Egypt custom Islamic index 14.16%) as of Q1-2014. Strategic investment policies and risk diversification backed by fundamental and technical analysis placed Al Samaha Islamic Fund among the best performing Islamic Funds in the region.

Union National Bank strives to provide its clients with fully customized investment solutions, offering them tailor-made portfolios to suit an individual’s risk profile and investment objectives. UNB’s strategic and tactical asset allocation is applied to meet the return and risk objectives of each investor and to take advantage of market opportunities. Conventional UAE Discretionary portfolios’ Q1 performance reached on average 18% high (S&P UAE large and medium Cap 19.5%).

The surge of UAE markets was one of the main reasons boosting Al Samaha Fund’s performance. The net asset value of the Samaha Fund is progressively increasing to recover from the effect of the previous financial crisis and generate returns over the benchmark on a year-to-date and since inception basis.

Mr. Galal E.Khadr, Senior Vice President - Head of Treasury & Investment Division at UNB commented “UNB has followed a responsible investment strategy taking into account all risk factors and available investment opportunities which has resulted in consistent and strong growth for both Funds”.

Mr. Galal also said “There are positive changes in the GCC markets especially in the UAE which led to the recent upgrade by MSCI to emerging market status. This development coupled with the positive economic outlook, the news about the merger of Abu Dhabi and Dubai markets together with the hosting of Expo 2020 has resulted in a general improvement in investors’ sentiment and expected inflow of capital into the markets”.

Emirate:  Abu Dhabi

Date: May 15, 2014

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