Arabian Programmed Trading Fund (Aptf) Records 4.19% Rise For July 2007

Defensive strategy preserves value for UAE Funds in negative month

DUBAI: United Arab Emirates: Daman Investments PSC, a leading UAE based fund manager today announced the performance details of the Daman Second Emirates Fund, the open-ended AED 200 million fund which focuses on the UAE equities markets, the Arabian Programmed Trading Fund (APTF) and the Daman Islamic Fund, a Shari’ah based, Open Ended UAE-registered Mutual Fund.

Reporting a 4.19% rise in July, Daman’s first risk managed fund, the Arabian Programmed Trading Fund (APTF) Designed and tailored for the GCC markets, the APTF NAV is now at US$81.39 compared to US$ 78.12 on June 2007. The APTF has so far registered a year-to-date growth of 18.45% as compared to 15.22% returns made by the GIC GC Index.

Despite a negative month for both the Daman Second Emirates Fund and the Daman Islamic Fund during July, both funds significantly outperformed the benchmark NBAD Index which fell by nearly three and a half percent during what was a lackluster month in the traditionally slow summer season.

Daman’s Second Emirates Fund posted an 8.03% growth since inception in April 2007. Its ex- dividend net asset value (NAV) reached AED108.03 on July 31, 2007 compared to AED109.45 during the month of June, 2007, marking a decline of -1.30% against the benchmark NBAD index drop of -3.48%.

On a further note, the Daman Islamic Fund, an open-ended, Shari’ah compliant mutual fund that focuses on the UAE equities markets, ended the month of July ’07 with a NAV of AED 99.37, reflecting a monthly decline of -0.91%.

“Our cautious approach for the UAE Funds since inception has benefited the Funds by preserving value when compared to an overall UAE market decline of -3.48% for the month of July,” Mr. Gargash commented.

 

//ENDS

 

About Daman Investments PSC

Daman Investments PSC is a private joint stock company based in Dubai and capitalized at

AED 200 million. 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 domestic and regional 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). Daman is well positioned for its clients as their gateway to the new Arab World economy.

About the Daman Second Emirates Fund

The Daman Second Emirates Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank. The fund will have an initial offered unit price of AED100 and a targeted size of AED 200 million. Subscriptions will be monthly and redemptions will be quarterly. The Net Asset Value will be calculated monthly. The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.

About Arabian Programmed Trading Fund (Facet Arabia)

Arabian Programmed Trading Fund (APTF) Facet Arabia was launched in February 2005. This is the first computer model aided stock analysis fund, launched in conjunction with Facet Funds plc, an offshore funds platform regulated by Cayman Islands Monetary Authority and Commander

Asset Management Ltd, authorized and regulated by the UK’s Financial Services Authority (FSA). The fund is specifically designed with the ability to hold shares (equity) or cash. Individual positions are sold when conditions dictate and cash is held until a reinvestment opportunity arises in that particular stock. Currently the portfolio consists of 72 stocks from GCC, out of 450+ that have been evaluated. The fund has registered a year-to-date growth of 18.39% so far.

Minimum investment in this Fund is US$1 million. Redemptions will be quarterly.

About the Daman Islamic Fund

The Daman Islamic Fund is a Shari’ah based, Open ended UAE-registered Mutual Fund regulated by the United Arab Emirates Central Bank. The Fund will invest primarily in Shari’ah Compliant securities listed on the UAE financial exchanges. The Fund will have an initial offered unit price of AED100 and a targeted size of AED 200 million. Subscriptions will be monthly and redemptions will be quarterly. The Net Asset Value will be calculated monthly. The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.

 

For further details please contact: Daman Corporate Communications Tel: 971 4 332 41 43

Fax: 971 4 332 42 40

corpcomm@www.daman.ae.php7-27.phx1-1.websitetestlink.com

Or,

Arabia PR FZ LLC

Tel: + 971 4 391 12 00 Fax: + 9714 390 45 11

yasser@arabiapr.com

walid@arabiapr.com

www.arabiapr.com

 

DAMAN FUNDS – PERFORMANCE DETAILS

(As of July 31st 2007)

 

Daman Second Emirates Fund

(As of July 31st 2007)

 

Year beginning information:

NAV at Inception

AED 100.00

FUND Benchmark NBAD General Index at Inception ( 01 April 2007)

9,637.46

 

DATA (July 31st 2007)

Parameters Daman Second Emirates Fund FUND Benchmark NBAD Gen Index
Ex Dividend NAV, July 31, 2007

108.03

10,905.82
Ex Dividend NAV, July 01, 2007

109.45

11,332.96
Percentage Change, July 2007

-1.30%

-3.48%

Year To Date growth, 2007 (Since April 2007)

8.03%

13.16%
Fund growth since inception (Since April 2007)

8.03%

13.16%
Dividend distributed during 2007 AED 1.00

NA

Dividends since Inception AED 1.00

NA

Annualised Dividend Yield, 2007

3.70%

2.80%

Daman Islamic Fund

(As of July 31st 2007)

Year beginning information:

NAV at Inception

AED 100.00

UAE NBAD Index at Inception ( 01 June 2007)

11,422.02

 

DATA (July 31st 2007)

Parameters Daman Second Emirates Fund UAE NBAD Index
NAV, July 31, 2007

99.37

10,905.82
NAV, June 30, 2007

100.29

11,332.96
Percentage Change, July 2007

-0.91%

-3.48%

Year To Date growth, 2007 (Since June 2007)

-0.63%

-4.52%

 

Fund growth since inception (Since June 2007)

-0.63%

-4.52%

Dividend distributed during 2007

NA

NA

Dividends since Inception

NA

NA

Annualised Dividend Yield, 2007

NA

2.80%

 

ARABIAN PROGRAMMED TRADING FUND: APTF:

Year beginning information:

 

NAV at Dec 2006 US $ 68.71
GIC GCC INDEX ( March 2005) 5,181.78

DATA (July 2007)

Parameters APTF  (US $) GIC GCC Index
NAV, July, 2007  81.39

5,970.31

NAV, June, 2007  78.12 5,666.84
Percentage Change, July 2007  4.19%

5.36%

Year To Date growth, 2007  18.45% 15.22%
Fund growth since inception  -18.61%

0.55%

 

DUBAI: United Arab Emirates:Daman Investments PSC, a leading UAE based fund manager today announced the performance detailsof the Daman Second Emirates Fund, the open-ended AED 200 million fund which focuses on the UAE equities markets, the Arabian Programmed Trading Fund (APTF) and the Daman Islamic Fund,a Shari’ah based, Open Ended UAE-registered Mutual Fund.

Reporting a 4.19% rise in July, Daman’s first risk managed fund, the Arabian Programmed Trading Fund (APTF) Designed and tailored for the GCC markets, the APTF NAV is now at US$81.39 compared to US$ 78.12 on June 2007.The APTF has so far registered a year-to-date growth of 18.45% as compared to 15.22% returns made by the GIC GC Index.

Despite a negativmontfobotthDamaSeconEmirateFunanthDamaIslamiFund durinJulybotfundsignificantlout performethbenchmark NBAD Index which fell by nearly threand a halper cendurinwhawas a lackluster month in the traditionallslosummer season.

Daman’SeconEmirateFunposted an 8.03% growth since inceptioiApri2007Itex- dividend net asset value (NAV) reached AED108.03 on July 31,2007 compared to AED109.45 during the month of June, 2007, marking a decline of 1.30% against the benchmark NBAD index drop of -3.48%.

On a further note, the Daman IslamiFundaopen-endedShari’ah compliant mutual fund that  focuseothUAequitiemarketsendethmontoJuly ‘0with a NAV of AED99.37, reflecting a monthly decline of -0.91%. 

“OucautiouapproacfothUAFundsincinceptiohabenefited thFundbpreserving  valuwhecomparetaoveralUAmarkedecline of-3.48% for the month of July,” Mr. Gargash commented.

 

//ENDS

About Daman Investments PSC

Daman Investments PSCis a private joint stock company based in Dubai and capitalized at AED 200 millionFrom itearly beginning i1998, the group has grown rapidly into an on-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 region and international clients, Daman provides investment management and development capital investment opportunities as well as domestic and regional brokerage operations  through its subsidiaries. Daman is committed to the principles of ethicalbusiness practice and operational transparency. All Damans various operations are regulated by the United AraEmirates Central Bank, the Emirates Securitieand Commodities Authority (ESCA) and the Dubai Financial Services Authority (DFSA). Daman is well positioned for its clients as their gateway to the new AraWorld economy.


About the Daman Second Emirates FundThe Daman Second Emirates Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank. The fund will have an initial offered unit price of AED100 and a targeted size of AED 200 million. Subscriptions will be monthly and redemptions will be quarterly.The Net Asset Value will be calculated monthly.

The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.

 

About Arabian Programmed Trading Fund (Facet Arabia)

Arabian Programmed Trading Fund (APTF) Facet Arabia was launched in February 2005. This is the first computer model aided stock analysis fund, launched in conjunction with Facet Funds plc,an offshore funds platform regulated by Cayman Islands Monetary Authority and Commander Asset Management Ltd, authorized and regulated by the UK’s Financial ServiceAuthority (FSA). The fund is specifically designed with the ability to holshares (equity) or cash. Individual positions are sold when conditions dictate and cash is heluntil a reinvestment opportunity arises in that particular stock. Currently the portfolio consists of 72 stocks from GCC, out of 450+ that have been evaluated. The fund has registered a year-to-date growth of 18.39% so far.Minimum investment in this Fund is US$1 million. Redemptions will be quarterly. 

About the Daman Islamic Fund

ThDamaIslamiFunis a Shari’abasedOpeendeUAE-registereMutuaFunregulated bthUniteAraEmirateCentraBankThFunwilinvesprimarilin Shari’aCompliant securitielisteothUAfinanciaexchangesThFunwilhavainitiaoffereunipricof AED10and a targetesizoAED20millionSubscriptionwill be monthly anredemptionwill bquarterlyThNeAsset ValuwilbcalculatemonthlyThfuniopetalnationalities awelanon UAresidentanwilseetachieve a combinatioocapitagrowtanregular dividend income.


For further details please contact: Daman Corporate Communications Tel: 971 4 332 41 43Fax: 971 4 332 42 40corpcomm@www.daman.ae.php7-27.phx1-1.websitetestlink.com 

Or,

 Arabia PR FZ LLCTel: + 971 4 391 12 00 Fax: + 9714 390 45 11yasser@arabiapr.com;walid@arabiapr.com www.arabiapr.com


 DAMAN FUNDSPERFORMANCE DETAILS(AsofJuly31st2007) Daman Second Emirates Fund(AsofJuly31st2007)Year beginning information:

NAV at Inception AED 100.00
FUND Benchmark NBAD General Indexat Inception(01 April 2007) 9,637.46

   DATA (July31st2007)

Parameters Daman Second Emirates Fund FUND BenchmarkNBAD Gen Index
Ex Dividend NAV,July31, 2007 108.03 10,905.82
Ex Dividend NAV,July01, 2007 109.45 11,332.96
PercentageChange,July2007 -1.30% -3.48%
Year To Dategrowth, 2007 (Since April 2007) 8.03% 13.16%
Fund growthsince inception (Since April 2007) 8.03% 13.16%
Dividend distributed during 2007 AED 1.00 NA
Dividends since Inception AED 1.00 NA
Annualised Dividend Yield, 2007 3.70% 2.80%

  Daman Islamic Fund(AsofJuly31st2007)Year beginning information:

NAV at Inception AED 100.00
UAE NBAD Index at Inception ( 01 June 2007) 11,422.02

   DATA (July31st2007)

Parameters Daman Second Emirates Fund UAE NBAD Index
NAV,July31, 2007 99.37 10,905.82
NAV,June 30, 2007 100.29 11,332.96
PercentageChange,July2007 -0.91% -3.48%
Year To Dategrowth, 2007 (Since June 2007) -0.63% -4.52%


 

Fund growthsince inception (Since June 2007) -0.63% -4.52%
Dividend distributed during 2007 NA NA
Dividends since Inception NA NA
Annualised Dividend Yield, 2007 NA 2.80%

 

 

ARABIAN PROGRAMMED TRADINGFUND: APTF:

Year beginning information:

NAV at Dec2006 US$ 68.71
GIC GCCINDEX( March2005) 5,181.78

 

 

DATA (July2007)

 

Parameters APT(US$) GIC GCC Index
NAV,July, 2007 81.39 5,970.31
NAV,June,2007  78.12  5,666.84
PercentageChange,July2007  4.19%  5.36%
Year To Dategrowth, 2007  18.45%  15.22%
Fund growthsince inception -18.61% 0.55%