Daman Speculator Fund Starts The Year Strong With 1.38% Growth

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 January 2009. The newest Daman offering, the Daman Speculator Fund, launched in July 1, 2008, has presented a noteworthy performance in comparison with today’s volatile markets, recording positive figures as it closed the month of January at a Net Asset Value of AED 104.20 per unit with a monthly gain of 1.38%.

DAMAN SPECULATOR FUND POSTS YEAR-TO-DATE GROWTH OF 1.38%

The Daman Speculator Fund has recorded a rise of 1.38% in Net Asset Value from AED

102.76 per unit in December 2008, and ended the first month of the year at a NAV of AED

104.20 per unit.  The Fund’s growth brings its total performance since inception to 5.70% and its annualised dividend yield to 3.45%.

 

DAMAN ISLAMIC FUND OUTPERFORMS BENCHMARK WITH 9.55% ANNUALISED DIVIDEND YIELD

The Daman Islamic Fund, a Shari’ah principle-based, UAE-registered open-ended mutual fund closed the month of January at a Net Asset Value (NAV) of AED 41.87 per unit, spelling a month-to-date decline of 1.04%. However,  despite  the  decline,  the  Fund  displayed encouraging performance in comparison with the NBAD Islamic Index drop of 5.82% for the corresponding period. The Fund’s annualised dividend yield currently stands at 9.55% for the year 2009, significantly outperforming the NBAD Islamic Index of 1.13%.

DAMAN SECOND EMIRATES FUND AT AED 41.24 PER UNIT

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 January at a Net Asset Value (NAV) of AED 41.24 per unit.

For the first month of 2009, the Fund recorded a decline of 4.44%, as against the NBAD General Index drop of 4.22%. Since inception, the Fund has paid total dividends of AED 5.00 per unit with an annualised dividend yield currently stands at 9.70%, which is a higher yield when compared to  the NBAD General Index annualized dividend yield 4.43%.

//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 January 31, 2009)

Year beginning information:

NAV at Inception ( 31 July 2008)                                                            AED   100.00

 

DATA (As of January 31, 2009)

Parameters Daman Speculator Fund
NAV, January 31, 2009

104.20

Percentage Change, January 2009

1.38%

Year To Date growth, 2009

1.38%

Since inception Total Performance (since July 2008)

5.70%

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

3.45%

 

Daman Second Emirates Fund (As of January 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 January 31, 2009)

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

41.24

5703.79
Percentage Change, January 2009 -4.44%

-4.22%

Year To Date growth, 2009 -4.44%

-4.22%

Since inception Total Performance (Ex- dividend ; since April 2007) -53.76% -40.92%
Dividend distributed during 2008 AED 2.00

NA

Dividends since Inception AED 5.00

NA

Annualized Dividend Yield, 2009

9.70%

4.43%

 

Daman Islamic Fund

(As of January 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 January 31, 2009)

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

41.24

5703.79
Percentage Change, January 2009 -4.44%

-4.22%

Year To Date growth, 2009 -4.44%

-4.22%

Since inception Total Performance (Ex- dividend ; since April 2007) -53.76% -40.92%
Dividend distributed during 2008 AED 2.00

NA

Dividends since Inception AED 5.00

NA

Annualized Dividend Yield, 2009

9.70%

4.43%