Daman Funds Post Gains; Pay Dividends

Daman Funds Board meets; Both Daman Funds pay dividends in September

DUBAI: United Arab Emirates: Daman Investments PSC, a leading UAE based fund manager today announced the positive performance details during September of two funds focussed on the UAE equities markets – the Daman Islamic Fund, and the Daman Second Emirates Fund.

Mr. Shehab Gargash, Managing Director, Daman, said: “Coming out of the traditionally slow period of activity during the summer month, we are beginning to see a more positive outlook that has reflected well on the results of our funds. We expect a continued steady but cautious growth as things begin to pick up in the coming months. Our strategy remains focused towards fundamentally attractive universe of stocks that has potential to unlock value over the long term.”

DAMAN ISLAMIC FUND POSTS 3.24% MONTHLY GAIN, ACCOMPANIED WITH AED 0.75 PER UNIT DIVIDEND PAYOUT

The Daman Islamic Fund, an open-ended, Shari’ah compliant mutual fund that focuses on the UAE equities markets, closed the month of September at an NAV of AED 102.36, a monthly gain of 3.24% as compared to benchmark NBAD Islamic Index gain of 0.60% for the corresponding period.

The Fund has declared a dividend of AED 0.75 per unit to all unit holders as of 30th September 2007. This dividend payout returns an ex dividend annualized yield of 2.95% to the investors, as compared to Benchmark NBAD Islamic Index dividend yield of 1.13%.

DAMAN SECOND EMIRATES FUND POSTS 0.60% MONTHLY GAIN, ACCOMPANIED WITH AED 1.00PER UNIT DIVIDEND PAYOUT

On a further note, The Daman Second Emirates Fund, the open-ended AED 200 million fund which focuses on the UAE equities markets, closed the month of September at a net asset value of AED 107.53, reflecting a monthly gain of 0.60% as against a gain of 1.49% made by benchmark NBAD General Index.

The Fund has also declared a third quarter dividend payout of AED 1 per unit to its unit holders as of 30th September 2007. With this, the Fund has made a total dividend distribution of AED 2 per unit since Inception. This payout yields an ex-dividend annualized yield of 3.75% as against the Benchmark yield of 2.74% for the NBAD Index as of September 2007.

After the 3rd quarter dividend payout of AED 1 per unit, the Fund’s ex dividend NAV as on 1st October 2007 was AED 106.53

Daman’s first risk managed fund, the Arabian Programmed Trading Fund (APTF) designed and tailored for the GCC markets, has posted an NAV now at US$79.51 compared to US$ 79.81 on August 2007.

 

//ENDS

 

Photo caption: Shehab Gargash (centre) with Daman Funds Board, meeting held on October 2nd; declared dividends for both funds after reviewing positive performance results.

 

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 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.

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 has 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 15.72% so far.

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

 

Forfurtherdetails 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,

Yasser Fathy/ Walid El-Tigi

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 Second Emirates Fund

(As of Sep 30th 2007)

Yearbeginning information:

NAV at Inception ( April 1 2007)

AED 100.00

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

9,637.46

DATA (As of Sep 30th 2007)

Parameters Daman Second Emirates Fund FUND Benchmark NBAD Gen Index
Ex Dividend NAV, Oct 1, 2007

106.53

11,048.42
NAV, September 30 2007

107.53

10,962.77
NAV, August 31, 2007

106.88

10,801.35
Percentage Change, Sep 2007

0.60%

1.49%

Ex DividendYear To Date growth, 2007 (Since April 2007)

8.53%

13.75%
Since inception Total Performance (Since April 2007)

8.53%

13.75%
Dividend distributed during 2007 AED 2.00

NA

Dividends since Inception AED 2.00

NA

Annulaised Dividend Yield, 2007

3.75%

2.74%

 

Daman Islamic Fund

(As of Sep 30th 2007)

Year beginning information:

 

NAV at Inception  ( 01 June 2007)

AED 100.00

Fund Benchmark NBAD Islamic Index at Inception ( 01 June 2007)

9,375

DATA (As of Sep 30th 2007)

Parameters Daman Islamic Fund Fund Benchmark NBAD Islamic Index
Ex Dividend NAV, Oct 1, 2007

101.61

9,021

NAV, September 30 2007

102.36

8,994

NAV, August 31, 2007

99.16

8,940

Percentage Change, Sep 2007

3.24%

0.60%

Ex DividendYear To Date growth, 2007 (Since June 2007)

2.36%

-4.06%
Since inception Total Performance (Since June 2007)

2.36%

-4.06%
Dividend distributed during 2007 AED 0.75

NA

Dividends since Inception AED 0.75

NA

Annulaised Dividend Yield, 2007

2.95%

1.13%

 

ARABIAN PROGRAMMED TRADING FUND: APTF

Year beginning information:

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

 

DATA (September 2007)

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

79.51

6,120.42
NAV, August, 2007

79.81

6,105.07
Percentage Change, September 2007

-0.38%

0.25%

Year To Date growth, 2007

15.72%

18.11%

Fund growth since inception

20.49%

3.08%