UAE: Emirates NBD Asset Managment, the asset management arm of Emirates NBD, has announced that its Emirates Islamic Money Market Fund has attracted more than US$100 million from investors in the 18 months since the fund was launched.
The fund has also achieved four times the total return compared to overnight deposits during the same period.
“Asset growth of the fund is a reflection of the interest shown by international and local investors to the higher profits that can be achieved from investing in Islamic bank deposits,” said Deon Vernooy, its senior executive officer.