DUBAI: United Arab Emirates: Daman Investments PSC, the leading Dubai-based investment management company, has announced the performance results of its funds: the Daman Second Emirates Fund, the Daman Islamic Fund, the Daman Speculator Fund, and the Daman Fifth Fund for the month of July 2010.
DAMAN SECOND EMIRATES FUND ANNOUNCES DIVIDEND PAYOUT OF AED 0.50 PER UNITThe Daman Second Emirates Fund, a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focused on UAE equity markets, is the top performing Daman fund year to date as of July 2010. While it has decreased by -2.75% for the year, the the NBAD General Index which is off around -6% YTD in 2010. Given the continued strong performance the fund declared a second quarter dividend of AED 0.50 per unit, bringing up the fund’s total dividend to AED 14 since its inception. This is the second consecutive quarter the fund has paid out a dividend and the dividend yield for the fund as of 2010 stands at an annualized 2.84%
DAMAN ISLAMIC FUND ANNOUNCES DIVIDEND PAYOUT OF AED 0.50 PER UNITThe Daman Islamic Fund, a Shari’ah principle-based, UAE-registered open-ended mutual fund, continues to beat its benchmark by a wide margin as of year to date July 2010. The fund was down -4% whilst the NBAD Islamic index was down -9.5%. The fund declared a second quarter dividend of AED 0.50 per unit, giving it an annualized dividend yield of 2.97%.
DAMAN SPECULATOR FUNDThe Daman Speculator Fund, launched in July 1, 2008, also beat its benchmark index as of year to date end of July 2010. The Fund was down -8.03%, outperforming its benchmark ESCA index which is down -10.63%. Moreover, since its inception in 2008 the fund has recorded a decline of -6.03% against the ESCA index which is down -58.73%. The funds annualized dividend yield year to date stands at 1.10%.
DAMAN FIFTH FUND
The Daman Fifth Fund, an AED 200 million closed-ended fund focused on investments within the GCC markets, concluded the month of July at a NAV of AED 97.59, relatively flat with a modest decline of 0.06% as compared to June 2010 figures. The fund’s performance since its inception in April 2010 now stands at -2.41%.