(MENAFN- Khaleej Times) Abu dhabi islamic bank (adib) has launched a new capital-protected note after the huge success and high demand to the first car manufacturing note issued by the bank earlier this year.
the note which matures in 18 months provides 100 per cent capital protection at maturity to minimise risk with an expected return of up to 10 per cent. the note is currently open for subscription with a minimum amount of $30000. the note offers the opportunity to invest in the world’s leading car manufacturers including toyota motors hyundai kia motors bmw and tata motors.
the automobile sector has performed well in 2013 and during the first quarter of 2014 sustained by recovering demand in asia and the united states. despite the share price rises in 2013 the majority of sell-side analysts retain ‘buy’ recommendations on the major auto stocks. for example a recent jpmorgan research note predicted a cyclical upturn for the global auto industry with bmw performing well because of the popularity of its new models while hyundai is expected to see its market share rise due to its newest sonata model.
— haseeb?khaleejtimes.com
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