Dubai – United Arab Emirates: The Net Asset Value (NAV) of the Daman UAE Value Fund as of October 31, 2004 was AED 194.45, a decline of 2.61 per cent for the month of October. During 2004, the Fund has posted growth of 37.66 per cent.
The benchmark National Bank of Abu Dhabi Index also declined during October, falling 1.33 per cent during the month. On the year, the Index has grown 40.17 per cent.
Another offering from Daman is the IFA Khaleeji Fund, which was launched in association with IFA and Univest groups of Kuwait on 3rd March, 2004. The NAV of the IFA Khaleeji Fund as of 31st October, 2004 was US$ 103.33, per share, a decline of 0.67 per cent against the month of September where the NAV stood at US$ 104.03 per share. The regional Fund provides a single entry vehicle for regional and international investors into the six GCC markets and Iraq.
About Daman UAE Value Fund:
Daman UAE Value Fund is a closed-ended, offshore mutual fund focused on the UAE stock market. It was launched on 1st July 2001 with shares valued at a par value of AED 100.00. The Fund commissions an independent audit of its Net Asset Value (NAV) at the end of each month, and releases monthly NAV statements. The Fund has never missed quarterly dividends, the most recent being AED 4.00 per share for the Third Quarter of 2004.
Daman UAE Value Fund is a Mauritius-registered public company. The Fund’s governance structure is designed to ensure maximum transparency and accountability to shareholders.
For further details please contact: Daman Corporate Communications
Tel: 971 4 332 41 43
Fax: 971 4 332 42 40
Or, Arabia PR FZ LLC
Tel: + 971 4 391 12 00
Fax: + 9714 390 45 11