Daman Speculator Fund Declares Aed 0.75 Dividend For Q1 2009

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 March 2009. The newest Daman offering, the Daman Speculator Fund, launched in July 1, 2008, has declared a dividend distribution of AED 0.75 per unit for the first quarter of 2009, effectively raising the total value of dividends since inception to AED 2.25 per share.

Meanwhile, the Daman Second Emirates and Islamic Funds performed steadily in a fluctuating market. Both funds finished the month of March with month-on-month gains, with the Second Emirates Fund surpassing the NBAD General Index of 2.16%. Overall, all three of Daman’s investment funds have indicated a stable growth in Net Asset Value (NAV).

DAMAN SPECULATOR FUND ENDS MARCH 2009 WITH NAV OF AED 104.70

The Daman Speculator Fund, apart from distributing dividends of AED 0.75 per share, has reported an increase in NAV per unit, rising by 1.97% to AED 104.70 as of March 31, 2009. Ex-divided NAV is now pegged at AED 103.66 as of April 2, 2009, bringing the annualised dividend yield for 2009 to 2.89%.

The Fund, which was specifically structured to withstand tumultuous economic conditions, has recorded a total performance of 6.20% since its inception, indicating a considerable rise from last month’s 4.15%.

DAMAN SECOND EMIRATES FUND – CLOSES MONTH UP 3.25%

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 March at a Net Asset Value (NAV) of AED 43.22 per unit, up 3.25% over last month while outperforming the NBAD General Index pegged at 2.16%.

The annualised dividend yield for the fund currently stands at 9.25%, as against the NBAD General Index’s 3.34%.

DAMAN ISLAMIC FUND  –  RISES 1.84%

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 43.36 per unit as of March 31, 2009, signifying a month-to-date rise of 1.84%. The current annualized dividend yield stands at 9.23% as against the NBAD Islamic Index at 1.13%.

//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 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 Speculator Fund

(As of March 31, 2009)

Year beginning information:

NAV at Inception ( 31 July 2008)                                                            AED   100.00

DATA

(As of March 31, 2009)

Parameters Daman Speculator Fund
NAV, March 31, 2009

104.70

Percentage Change, March 2009

1.97%

Year To Date growth, 2009

1.86%

Since inception Total Performance (since July 2008)

6.20%

Dividend distributed during 2008 AED 1.50
Dividends since Inception (as of Apr 02, 2009) AED 2.25
Annualized Dividend Yield, 2009 (as of Apr 02, 2009)

2.89%

 

Daman Second Emirates Fund

(As of March 31, 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 March 31, 2009)

Parameters Daman Second Emirates Fund FUND Benchmark NBAD Gen Index
NAV, March 31, 2009

43.22

6,001.92
Percentage Change, March 2009

3.25%

2.16%

Year To Date growth, 2009 -0.35%

0.79%

Since inception Total Performance (Ex- dividend ; since April 2007) -51.78% -37.83%
Dividend distributed during 2008 AED 2.00

NA

Dividends since Inception AED 5.00

NA

Annualized Dividend Yield, 2009

9.25%

3.34%

 

Daman Islamic Fund

(As of March 31, 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 March 31, 2009)

Parameters Daman Islamic Fund Fund Benchmark NBAD Islamic Index
NAV, March 31, 2009

43.36

4,451

Percentage Change, March 2009

1.84%

8.11%

Year To Date growth, 2009

2.19%

8.56%

Since inception Total Performance (Ex-Div ; since June 2007) -52.89% -52.52%
Dividend distributed during 2008 AED 2.00

NA

Dividends since Inception AED 3.75

NA

Annualized Dividend Yield, 2009

9.23%

1.13%