Daman Second Emirates Fund Continues Outperformance Streak

Daman funds post steady overall performance at the start of Q4 2011

DUBAI (United Arab Emirates): Daman Investments PSC, the leading Dubai-based investment management company, has announced the performance results of its funds: the Daman Second Emirates Fund, the Daman Islamic Fund, the Daman Speculator Fund, and the Daman Fifth Fund for the month ending October 31, 2011.

The Daman Second Emirates Fund continued its outperformance streak as October 2011 closed, registering a month-to-date percentage growth of 0.09% as against the drop of -1.67% as seen in the NBAD General Index.

Other Daman funds also logged overall positive results last month by preserving their Net Asset Values and surpassing their respective indices.

DAMAN SECOND EMIRATES FUND

Daman Second Emirates Fund (DSEF), a UAE-registered, open-ended fund focused on UAE equities, concluded the month of October 2011 with another favourable performance as it announced results going above and beyond benchmark figures. With this month’s positive run, the fund’s year-to-date growth rose from 4.73% in September to 4.83%, surpassing the NBAD General Index’s -4.38%. Annualised dividend yield also increased to from 2.12% to 3.36% this month, as against the benchmark’s 4.42%. The fund’s Net Asset Value (NAV) is now pegged at AED 108.98.

DAMAN SPECULATOR FUND

The Daman Speculator Fund ended the first month of Q4 2011 at a NAV of AED 79.10, spelling a month-to-date change of -1.46% as against ESCA Index’s decline of -1.73%. Year-to-date return is now pegged at -10.07%, while total performance since inception stands at -18.15%.

DAMAN ISLAMIC FUND

The Daman Islamic Fund’s Net Asset Value stood at AED 96.21 per share as of October 31,2011, maintaining its value from AED 96.86 in September and recording a slight movement of -0.60%. Since the beginning of 2011, the fund has clocked in a year-to-date performance of -2.72%.

DAMAN FIFTH FUND

The Daman Fifth Fund, a GCC-focused equity fund launched in February 2010, listed a drop of -0.95% at the end of last month, with its NAV moving from AED 99.35 per unit to AED 99.05 in October 2011. With last month’s results, the fund sustains a positive year-to-date growth of 2.59% and demonstrates stability with a total performance of -0.95% since its inception.

 

//ENDS

 

About Daman Investments PSC 

Daman Investments PSC is a private joint stock company based in Dubai. 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 the Arab World.

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 intends to become a public corporation in 2012.

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 focused 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. 

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.

For further details please contact:

About the Daman Fifth Fund

The Daman Fifth Fund is a GCC-focused, UAE-registered closed-ended fund regulated by the United Arab Emirates Central Bank. The fund offers a unique advantage in terms of innovative investment approaches and strategies, which target undervalued stocks of blue-chip companies within the GCC region. Launched in February 2010, the fund will have an initial offered unit price of AED 100 per share and a projected subscription size of 2,000,000 units worth AED 200 million. Daman Investments is the Manager of the fund.

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