Daman Second Emirates Fund Grows 0.48% Entering Q2 09

Fund outperforms Index – continues positive March growth pattern

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 Second Emirates Fund, the Daman Islamic Fund, and the Daman Speculator Fund for the month of April 2009. The Daman Second Emirates Fund, an open-ended fund focused on UAE equities, closed the month of April at a Net Asset Value of AED 43.45 per unit, signifying a rise of 0.48% as against a percentage change of -0.47% on the NBAD General Index.

Meanwhile, the Daman Islamic Fund recorded a month-to-date change of -0.64% and ended April at a NAV of AED 43.06. The Daman Speculator Fund, while closing the month with a drop of 1.87%, posted an improved annualised dividend yield of 2.94% as compared to 2008 dividend yield of 2.89% recorded at the end of March 2009.

DAMAN SECOND EMIRATES FUND GROWS 0.48% – OUTPERFORMS NEGATIVE INDEX

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, followed through with its previous growth of 3.25% recorded in March 2009 as it ended April with a growth of 0.48% at a Net Asset Value (NAV) of AED 43.45. The Fund also posted an improved year-to-date growth of 0.12% from -0.35% in the previous month. Since its inception, the  Fund  has distributed dividends of AED 5.00.

DAMAN ISLAMIC FUND DROPS 0.64% AT AED 43.06 IN CONTRAST WITH INDEX DROP OF 3.68%

The Daman Islamic Fund, a Shari’ah principle-based, UAE-registered open-ended mutual fund closed the month at a Net Asset Value of AED 43.06 per unit as of April 30, 2009, spelling a month-to-date change of -0.64% as compared to -3.68% found on the NBAD Islamic Index. Matched up by an improved total performance of -53.19% since inception, the Fund’s year-to- date growth is now calculated at 1.54% as against 4.56% witnessed on the Islamic Index.

DAMAN SPECULATOR FUND – STEADY UPWARD PERFORMANCE POST MARCH DIVIDEND DISTRIBUTION

The Daman Speculator Fund, launched in July 1, 2008, closed the month of April at a NAV of AED 101.96, logging a decline of 1.87% from its ex dividend NAV of AED 103.95 as on March 31, 2009.   The Fund exhibited a stable performance following a dividend distribution of AED 0.75 per share at the end of March. Specifically engineered to withstand turbulent economic conditions, the Fund has clocked in an improved 2009 annualised dividend yield of 2.94% as compared to 2008 dividend yield of 2.89% recorded at the end of March 2009. The Daman Speculator Fund exhibits a year-to-date growth of -0.05%, while total performance since inception is now pegged at 4.21%.

 

//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 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.

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: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 40 Fax: + 9714 390 45 11
corpcomm@www.daman.ae.php7-27.phx1-1.websitetestlink.com info@arabiapr.com
www.daman.ae www.arabiapr.com

 

DAMAN FUNDS – PERFORMANCE DETAILS

Daman Second Emirates Fund

(As of April 30, 2009)

Since Inception 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 April 30, 2009)

Parameters Daman Second Emirates Fund FUND Benchmark NBAD Gen Index
NAV, April 30, 2009

43.45

5973.73
Percentage Change, April 2009

0.48%

-0.47%

Year To Date growth, 2009

0.12%

0.31%

Since inception Total Performance (Ex- dividend ; since April 2007) -51.55% -38.12%
Dividend distributed during 2009

NIL

NA

Dividends since Inception AED 5.00

NA

Annualized Dividend Yield, 2009

NA

4.08%

 

Daman Islamic Fund

(As of April 30, 2009)

Since Inception 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 April 30, 2009)

Parameters Daman Islamic Fund Fund Benchmark NBAD Islamic Index
NAV, April 30, 2009

43.06

4,287

Percentage Change, April 2009 -0.64%

-3.68%

Year To Date growth, 2009

1.54%

4.56%

Since inception Total Performance (Ex-Div ; since June 2007) -53.19% -54.27%
Dividend distributed during 2009

NIL

NA

Dividends since Inception AED 3.75

NA

Annualized Dividend Yield, 2009

NA

1.13%

  

Daman Speculator Fund

(As of April 30, 2009) 

Since Inception information: 

NAV at Inception  ( 1 August 2008)                                                                           AED  100.00

DATA

(As of April 30, 2009)

Parameters Daman Speculator Fund
NAV, April 30, 2009

101.96

Percentage Change, April 2009 -1.87%
Year To Date growth, 2009 -0.05%
Since inception Total Performance (since July 2008)

4.21%

Dividend distributed during 2009 AED 0.75
Dividends since Inception (as of Apr 02, 2009) AED 2.25
Annualized Dividend Yield, 2009 (as of Apr 30, 2009)

2.94%