Daman Investments Funds Achieve Positive Performance In A Difficult Year

Second Emirates Fund top performer in the UAE

DUBAI (United Arab Emirates): Daman Investments PSC, one of the leading UAE-based regional investment management companies, has announced another year of exceptional performance by its local and regional equity funds during 2011. The top performing fund was the Daman Second Emirates fund which ended the year with a gain of 4.9% net of all fees, the scale of the outperformance was particularly stark when compared against the representative ESCA index which lost -12% or NBAD General index which was down -7% for the year.   The fund also paid out a record eighth consecutive quarterly dividend of AED 1.00 for the fourth quarter, bringing the total dividend paid out for the year to AED 3.75.

The second best performing fund was the Daman Fifth Fund, which is a GCC centric fund, ending the year up +3.7% and again beating its respective peer group.  The other two funds namely the Daman Islamic fund -4% and the Daman Speculator Fund was down -10%.

Commenting on the announcement, Mr. Shehab Gargash, Chief Executive Officer of Daman Investments PSC said, “We continue to build a proven track record in delivering strong and consistent returns in times of market instability by focusing on our core expertise in asset management.” Daman’s Funds are managed along strategic and tactical asset allocation lines to ensure optimal diversification amongst securities in order to achieve a higher risk adjusted return with relatively low volatility.

Mr. Shehzad Janab, Daman Investments’ Head of Asset Management & Advisory, also added, “We continue to believe that the GCC equity markets offer exceptional value to the patient investor. The 2nd half of 2012 could mark a recovery in investor appetite. Negative sentiments should ease following a denouement to the euro sovereign debt crises. The robust outlook for oil prices will continue to generate enough thrust to sustain the positive growth momentum within the GCC which will translate in strong earnings growth in 2012.”

 

1 MONTH

3 MONTH

6 MONTH

9 MONTH

YTD

Fund Name

31 Dec 2011

Fund

Index

Fund

Index

Fund

Index

Fund

Index

Fund

Index

Daman Second Emirates Fund

109.06

0.80%

-0.67%

0.16%

-4.39%

-1.69%

-10.42%

4.52%

-4.85%

4.90%

-7.03%

Daman Islamic Fund

94.77

-0.61%

-1.94%

-3.59%

-4.34%

-4.02%

Daman Speculator Fund

79.11

0.74%

-1.34%

-1.44%

-5.24%

-4.17%

-10.74%

-5.92%

-8.43%

-10.06%

-11.80%

Daman Fifth Fund

100.13

0.96%

0.79%

1.19%

3.08%

3.71%

//ENDS

 

About Daman Investments PSC (www.daman.ae)

Daman Investments PSC 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 recognised 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 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).

 

For further details please contact:

Daman Corporate Communications        OR          Arabia PR FZ LLC

Nadimeh Mehra                                                              Yasser Fathy

Tel: +971 4 332 41 40                                                       Tel: + 971 4 342 35 84

Fax: +971 4 332 42 40                                                       Fax: + 9714 342 35 82

NadimehM@www.daman.ae.php7-27.phx1-1.websitetestlink.com                                                                yasser@arabiapr.com

www.daman.ae                                                               www.arabiapr.com