Daman Funds Continue to Yield Strong Dividends
Daman Fifth Fund reports stellar year-to-date performance despite market volatility
Dubai, UAE July 14, 2015: Daman Investments PSC, manager of one of the world’s best-performing alternative mutual funds, and the Arab world’s leading diversified, non-banking financial services company, announced record Q2 fund dividends despite volatile market conditions.
|Fund||Net Asset Value as of June 30, 2015||Q2 2015Dividend in AED||2015Dividend Yield||2015 YTD Performance|
|Daman Second Emirates Fund||111.45||4||17.05%||-8.82%|
|Daman Islamic Fund||105.22||2||2.85%||-2.36%|
|Daman Speculator Fund||65.36||–||–||-5.40%|
|Daman Fifth Fund||209.94||50||71.5%||53.65%|
|Dubai Financial Market||5.31%||8.29%|
|Abu Dhabi Securities Market||4.68%||4.29%|
The flagship Daman Second Emirates Fund, which is focused on the UAE market, upheld its longstanding reputation for having the longest record of distributing quarterly dividends in the market, by paying its 22nd consecutive quarterly dividend. The UAE’s lifting of restrictions on the ownership of Etisalat’s shares, opening up the region’s second largest telecommunications provider to foreign investors for the first time, was a boon to Abu Dhabi Securities Exchange General Index with the telecom provider’s stock surging 15%, its biggest advance this year.
The GCC-focused Daman Fifth Fund, the top performing alternative mutual fund globally as ranked by Preqin, continued to outperform regional markets and peers by posting a 54% increase in performance during the first half of 2015, which comes on the back of an impressive 232% increase in 2014. By comparison, the Dubai Financial Market and Abu Dhabi Securities Market rose 8.29% and 4.29% over the same six-month period respectively, with GCC markets seeing increased volatility toward the end of Q2 2015 on the back of the ongoing Greek financial crisis, uncertainty in Chinese equities and continued low oil prices.
The Dubai Financial Market ended the month of June at 4,086.8, increasing +4.2%, whilst the Abu Dhabi and Qatar markets closed the month higher at 4,732.2 rising +4.3% and 12,201.0 adding +1.3% respectively. The Saudi Market closed the month at 9,086.9 falling -6.2%.
“The performance of our funds is a reflection of Daman Investments’ deployment of unique investment strategies that have enabled us to perform well even in the most challenging of environments,” Daman Investments Chairman Shehab Gargash said.
“We continuously track the performance of the Daman Investments funds, monitoring for risks and carefully timing and diversifying investments to maximize potential upsides,” Shehzad Janab, Head of Asset Management and Advisory of Daman Investments PSC said. “Our Daman Fifth Fund in particular exemplifies the benefits of this strategy, having increased by of 750% since its launch in 2010.”
About the Company (www.daman.ae)
Daman Investments is a diversified, non-banking financial services company licensed and regulated by the Central Bank of the UAE and the Emirates Securities and Commodities Authority. The Company was established in 1998 (as Al Daman Securities Establishment) to cater to the growing need for in-depth and professional financial services tailored to the UAE and wider region. Since inception, Daman has been active in developing and offering investment opportunities to institutional, high net worth and retail markets in the UAE. The Company currently employs 53 individuals across its business.
For further details please contact:
Daman Corporate Communications OR Arabia PR
Tel: +971 4 408 0363 Yasser Fathy
Fax: +971 4 332 42 40 Tel: + 971 4 342 35 84
[email protected] Fax: + 9714 342 35 82