Daman Islamic And Second Emirates Funds Grow 1.40% And 0.99% In February Nav

DUBAI: United Arab  Emirates: Daman  Investments PSC, the  leading Dubai-based  investment management company, has announced the performance results of three of its funds: the Daman Speculator Fund, the Daman Second Emirates Fund, and the Daman Islamic Fund, for the month of February 2009. The Daman Second Emirates Fund recorded a growth of 0.99%, and the Daman Islamic Fund, the company’s Shari’ah-compliant offering, posted a gain in Net Asset Value of 1.40%, ending at AED 42.51 for February 2009.

DAMAN SPECULATOR FUND REPORTS GROWTH OF 4.15% SINCE INCEPTION

The Daman Speculator Fund, ended the month of February at a NAV of AED102.65, a drop of 1.47% for the month. However, since inception of the Fund in July 2008, the fund has generated total returns of 4.15% as against the broader UAE market decline of -58.56%. For year to date 2009, the fund is down by 0.11% while the UAE markets were down by -2.56%.

DAMAN SECOND EMIRATES FUND SHOWS STEADY GAINS – GROWS 0.99% IN FEBRUARY

The Daman Second Emirates Fund, a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focused on UAE equity markets, closed the month of February at a Net Asset Value (NAV) of AED 41.70 per unit, spelling a commendable growth of 0.99% as against 3.00% witnessed in the NBAD General Index.

DAMAN ISLAMIC FUND POSTS 1.40% GROWTH

The Daman Islamic Fund, a Shari’ah principle-based, UAE-registered open-ended mutual fund closed the month of February at a significantly increased Net Asset Value (NAV) of AED 42.51 per unit, signifying a month-to-date growth of 1.40%. The Fund’s year-to-date growth is now rated at 0.35%, faintly underperforming against the NBAD Islamic Index’s 0.41%. However, the Fund’s total performance since inception, now quoted at -53.74%, has steadily outperformed the movement of – 56.09% observed in the Islamic Index.

 

//ENDS

 

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 Speculator Fund

The Daman Speculator Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank. The fund will have an initial offered unit price of AED 100 per share and a targeted size of AED 200 million. Daman Investments seed capital in the fund is AED 5 million.

Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and seeks to exploit the dynamic potential of the UAE and GCC equity markets.

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 and focussed on the UAE equities markets. The fund has an initial offered unit price of AED100 and a targeted size of AED 200 million. Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. 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 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 are  weekly  with  monthly redemptions. The  Net Asset Value will be  calculated and published weekly. 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.

For further details please contact:Daman Corporate Communications OR Arabia PR FZ LLC
Michele Smith Motiwalla Yasser Fathy / Walid El-Tigi
Tel:   +971 4 332 41 43 Tel: + 971 4 391 12 00
Fax:  +971 4 332 42 40corpcomm@www.daman.ae.php7-27.phx1-1.websitetestlink.com Fax: + 9714 390 45 11info@arabiapr.com
www.daman.ae www.arabiapr.com

 

DAMAN FUNDS – PERFORMANCE DETAILS

Daman Speculator Fund

(As of February 28, 2009)

Year beginning information:

NAV at Inception  ( 31 July 2008)                                                                           AED  100.00

DATA (As of February 28, 2009)

Parameters Daman Speculator Fund
NAV, February 28, 2009

102.65

Percentage Change, February 2009 -1.47%
Year To Date growth, 2009 -0.11%
Since inception Total Performance (since July 2008)

4.15%

Dividend distributed during 2008 AED 1.50
Dividends since Inception AED 1.50
Annualized Dividend Yield, 2009

3.51%

Daman Second Emirates Fund

(As of February 28, 2009)

Year beginning 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 February 28, 2009)

Parameters Daman Second Emirates Fund FUND Benchmark NBAD Gen Index
NAV, February 28, 2009

41.70

5874.87
Percentage Change, February 2009

0.99%

3.00%

Year To Date growth, 2009 -3.49%

-1.35%

Since inception Total Performance (Ex- dividend ; since April 2007) -53.30% -39.14%
Dividend distributed during 2008 AED 2.00

NA

Dividends since Inception AED 5.00

NA

Annualized Dividend Yield, 2009

9.59%

4.27%

Daman Islamic Fund

(As of February 28, 2009)

Year beginning information:

NAV at Inception ( 01 June 2007)

AED 100.00

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

9,319

DATA (As of February 28, 2009)

 

Parameters Daman Islamic Fund FUND Benchmark NBAD Gen Index
NAV, February 28, 2009

42.51

4117

Percentage Change, February 2009

1.40%

6.62%

Year To Date growth, 2009

0.35%

0.41%

Since inception Total Performance (Ex- dividend ; since April 2007) -53.74% -56.09%
Dividend distributed during 2008 AED 2.00

NA

Dividends since Inception AED 3.75

NA

Annualized Dividend Yield, 2009

9.41%

NA