Dividends for investors in the fund, which include a number of high net worth individuals, family offices and institutions from across the region, are paid on a quarterly basis and have been calculated at 10 percent per annum.
The fund has been structured around a transaction concluded with Emirates Airlines, one of the world’s leading carriers, which was announced in January 2011 and consists of the acquisition of a Boeing 777-200ER aircraft from the airline and an agreement whereby it has been leased back to Emirates. The deal, which was undertaken in partnership with Novus Aviation and Muzun Partner Ltd., builds on opportunities in the aviation sector, which has shown to be resilient, and on the leasing sub-segment in particular where strong returns can be achieved and where further growth, both in absolute and relative terms, is expected to continue.
“We are pleased to announce the second payment of dividends to our investors across the region for our aviation leasing fund,” Mohamed Aljasim, Chief Investment Officer of CMH, said.
“This fund has provided investors with a unique opportunity to benefit from growth in the global aviation sector and in particular that of the industry in the Middle East region, which represents one of the fastest growing travel hubs in the world today. The success of this transaction and of our strategy of investing in income yielding assets continues to deliver steady and predictable cash flows for the Bank and our investors,” he added.
CMH invests in sectors that are of fundamental importance to the development of the region’s economies and the Bank has made significant investments in key sectors including transportation, infrastructure, energy, power, financial services, real estate and capital markets.