Record high dividend paid for Q2 2014.
DUBAI, UAE, August 25th, 2014: Daman Investments PSC, one of the leading UAE-based regional investment management companies, has announced a record high dividend payout for the second quarter of 2014 on select funds:
|Fund||Net Asset Value as of July 30, 2014||Q2 2014 Dividend in AED||Annualized 2014 Dividend Yield||2014 YTD Performance|
|Daman Second Emirates Fund||174.97||10||18.29%||33.43%|
|Daman Islamic Fund||147.17||4||10.07%||21.82%|
|Daman Speculator Fund||102.87||–||5.83%||2.97%|
|Daman Fifth Fund||329.11||20||15.83%||168.66%|
|Dubai Financial Market||2.02%||43.59%|
|Abu Dhabi Securities Market||3.29%||18.64%|
The flagship Daman Second Emirates Fund paid out a record 18th consecutive quarterly dividend. Daman Funds upheld their longstanding reputation as the leading dividend-yielding funds in the GCC investment arena with annualized dividend yields reaching double digits, which are vastly higher than current market dividend yields.
So far this year, Daman Funds have exhibited robust performance, with the Daman Fifth Fund being one of the strongest performing funds in the region yielding returns of 168.66% since the beginning of2014. Bloomberg and Zawya have both named Daman Fifth Fund the best performing vehicle in the GCC region in terms of YTD returns.
The Funds’ performance has been in line with Daman’s investment philosophy which aims to deliver strong alpha via rigorously tested investment strategies. Adhering to stringent risk management guidelines while keeping a vigilant eye on significant returns, Daman Funds have achieved these superior returns through their unique insights developed over more than a decade of experience in the GCC markets.
Commenting on the announcement of the highly successful quarter for the company, Mr. Shehab Gargash, Managing Director of Daman Investments PSC said, “The compelling outperformance of Daman Funds marks a spectacular period for us and our investors and we aim to carry on providing dividend yields in line with our performance.”
Mr. Shehzad Janab, Head of Asset Management and Advisory of Daman Investments PSC added, “Daman Funds have had a record year aswe continue to see more upsides in our markets based on the current risk reward profile.”
About Daman Investments PSC (www.daman.ae)
Daman Investments PSC (“Daman”) 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 (GCC) 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 Securities and Commodities Authority (SCA) and the Dubai Financial Services Authority (DFSA).
For media inquiries, please contact:
Daman Corporate Communications
T: +9714 332 4140
F: +9714 332 4240