Al Mal Capital PSC (the “company”), a company regulated by the Securities and Commodities Authorities as a financial services company and a subsidiary of Dubai Investments PJSC, has reported exceptional performance of its Al Mal UAE Equity Fund and Al Mal MENA Equity Fund in 2023. The fund's strong performance, backed by prudent investment strategies and market expertise, has enabled Al Mal Capital PSC to declare a 4% dividend for its valued unitholders of both the funds.
Al Mal UAE Equity Fund has reported YTD growth of 16.0% as of the 30th of September 2023 as compared to the index growth of 7.2% in the same period resulting in outperformance of 8.8% in the first nine months of the year. On the other hand, Al Mal MENA Equity Fund has reported YTD growth of 15.5% as of the 30th of September 2023 as compared to the index growth of 0.8% in the same period resulting in outperformance of 14.7% in the first nine months of the year.
Naser Nabulsi, Vice Chairman and CEO of Al Mal Capital PSC, commented on the announcement saying: " Al Mal equity strategies has consistently demonstrated resilience and growth, delivering exceptional returns for its investors. This outstanding performance is a testament to the dedication and expertise of the fund managers, who have successfully navigated the ever-changing financial landscape to create substantial value for the unitholders. A well-diversified portfolio has been instrumental in achieving strong risk-adjusted returns, allowing the funds to perform admirably in various market conditions.
Al Mal Capital REIT ("AMCREIT") has also achieved notable success. AMCREIT recently announced a significant dividend distribution of AED 12.252 million for the period ended 30th June 2023, underlining its commitment to providing attractive returns to unitholders. This dividend is in line with the targeted 7% annualized distribution and reinforces the Company’s commitment to delivering value to the REIT investors.
Since its launch and the subsequent listing on the Dubai Financial Market (DFM) in January 2021, Al Mal Capital REIT has been growing its asset portfolio through steady acquisitions. Notable acquisitions include Al Shola Schools in November 2021 and Wesgreen International School (2 campuses) in February 2023. With the completion of the Wesgreen acquisition, AMCREIT has successfully deployed 0.95% of the unitholders’ equity raised as part of the initial public offering. In line with the defined strategy, AMCREIT is focused on growing its real estate portfolio around the targeted sectors of social infrastructure (education and healthcare) and industrials, offering a long-term sustainable income stream to its unitholders.
Naser Al Nabulsi added: "AMCREIT has showcased a robust performance in the initial half of the 2023 financial year. The acquisition of our second asset led to the nearly full deployment of our investors' capital and expanded the REIT’s asset portfolio to its current size of AED 578 million. We maintain a positive outlook for the remainder of the year, as we continue to execute our investment strategy aimed at fortifying our portfolio in specified sectors, with a commitment to delivering sustainable returns to our valued investors and stakeholders at AMCREIT."
At Al Mal Capital PSC, the core competencies span across corporate advisory, asset management, capital markets, and direct investments. With a substantial AED 2.2 billion in assets under management, Al Mal Capital has a remarkable track record of effectively managing its clients’ assets and is a highly regarded financial services firm.