Emirates NBD Asset Management Limited, the asset management arm of Emirates NBD, a leading bank in the area, has won 'Real Estate Fund of the Year' at the 2016 MENA Fund Manager Performance Awards, for the second successive year.

The USD $461million Emirates Real Estate Fund, led by Tim Rose, Head of Real Estate at Emirates NBD Asset Management (Emirates NBD AM) is the largest and longest recognized fund managed by the company. The fund is a Shari'a certified open-ended portfolio, structured with the goal of producing rental income and attaining capital appreciation in the mid-to-long term, through a diverse selection of straight held property possessions, primarily in the UAE. The fund has a tested performance history of delivering a constant efficiency, with an unlevered +48 % return over the past four years and 6.53 % return in 2015 *. The fund paid a dividend of 5.75 % to income investors in 2015, continuing its strong income generation track record.

Commenting on the acknowledgment, Tariq Bin Hendi, Chief Executive Officer, Emirates NBD Asset Management said, "We are delighted to win this award for the 2nd year running. This is a fantastic testament to the quality and continual efficiency of the Emirates Real Estate Fund, which has actually been in presence for over a decade and has actually delivered constant go back to financiers, both in regards to routine dividend payments and long term development.".

Recent modifications to enhance the quality of the portfolio held by the Emirates Real Estate Fund portfolio include the sale of 2 structures in Sharjah, the repair of Arabian Oryx Tower in Tecom and the acquisition of 110,000 sqft of commercial offices in the Burj Daman Building within the DIFC.

The MENA Fund Manager Performance Awards exist to firms based upon general performance, in addition to qualitative and structural requirements. The evaluating panel represents the industry's leading institutional and personal investors, in addition to market professionals. The 7th edition of the Awards represented the single largest gathering of regionally-based fund supervisors in the market's calendar.