- Net returns of 231.95% in 2014
- World’s best-in-class fund last year
Dubai- United Arab Emirates: Dubai-based Daman Investments, one of the UAE’s leading investment management companies and its GCC focused, absolute return Daman Fifth Fund has been ranked as the world’s best alternative mutual fund for last year in the prestigious 2015 Preqin Global Hedge Fund Report.
Compiled independently using data collected by dedicated teams of research analysts, the report is read by thousands of professionals operating throughout the hedge fund industry.
With annualized net returns of a staggering 231.95 percent in 2014, Daman Fifth Fund outperformed most hedge fund strategies and was the best alternative mutual fund in the global markets last year as per Preqin, recording an average net return of 72.62 percent in the period between 2012-2014.
“Being assessed as the best-in-class amongst leading international funds in terms of performance in a report that examines detailed statistics of over 5,200 funds is telling of Daman’s ability to create market-leading and standards-setting, strategic financial products,” said Daman Investments’ Managing Director Mr. Shehab Gargash.
The fund was launched in 2010 with Mr. Shehzad Janab, Head of Asset Management as the Fund Manager. Daman Fifth Fund’s objective is to achieve capital appreciation over the medium term through undervalued GCC blue chip securities.
Mr. Shehzad Janab added, “the fund is asset class agnostic and during its early years was overweight in short duration fixed income instruments. We next switched into equities in 2012 and have kept our overweight in equities ever since, and continue to view equities as the favored asset class for the foreseeable future.”
The fund is regulated by the Emirates securities and commodities Authority as well as the UAE Central Bank.
About Daman Investments PSC (www.daman.ae)
Daman Investments PSC is a private joint stock company based in Dubai, UAE. From its early beginnings in 1998, the group has grown rapidly into a non-bank financial services company now widely recognized as an authority in its core markets, the Gulf Cooperation Council and Iraq.
Known for offering innovative investment products and services to both regional and international clients, Daman provides investment management and development capital investment opportunities as well as brokerage operations through its subsidiaries. Daman is committed to the principles of ethical business practice and operational transparency. All Daman’s various operations are regulated by the United Arab Emirates Central Bank, the Emirates Securities and Commodities Authority (ESCA) and the Dubai Financial Services Authority (DFSA).