Daman’s funds declare record cash dividends

Daman’s funds declare record cash dividends as the UAE markets cap a stellar year

2014 promises to be another outstanding year

DUBAI, UAE, February 4th, 2014:  Daman Investments PSC, one of the leading UAE-based regional investment management companies, announced today dividends for the fourth quarter of 2013 on all its funds shall be payable as follows:


Fund


Net Asset Value
 as of December  31,   2013


Q4 Dividend in AED Per Unit


2013 Dividend Yield Per Unit

Daman Second Emirates Fund

138.29

2.5

4.97%

Daman Islamic Fund

129.99

2.5

4.31%

Daman Speculator Fund

104.67

2

1.95%

Daman Fifth Fund

149.69

2.5

4.42%

 

UAE Market Yields

Dubai Financial Market

2.33%

Abu Dhabi Securities Market

3.93%

 

The flagship Daman Second Emirates Fund will be paying out a record 16th consecutive quarterly dividend. The Funds investment objectives include achieving capital appreciation as well as maintaining attractive dividend yields.

Commenting on the announcement, Mr. Shehab Gargash, Managing Director of Daman Investments PSC said, “As we had previously forecasted, the UAE markets were amongst the top performing markets globally in 2013 and we think that 2014 will be another outstanding year for the UAE markets.”

Mr. Shehzad Janab, Head of Asset Management and Advisory of Daman Investments PSC said, “As a strategy we continue to position ourselves in high yielding dividend plays, hence the dividend yields in our funds are well above current market yields.”

End

About Daman Investments PSC

Daman Investments PSC (“Daman”) is a private joint stock company based in Dubai, UAE. 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 (GCC) 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 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 Securities and Commodities Authority (SCA) and the Dubai Financial Services Authority (DFSA).

 

For media inquiries, please contact:

Daman Investments PSC:

Arwa Hamdieh

Corporate Affairs & Communications Manager

T: +97144080401

F: +97143324240

E: arwah@www.daman.ae.php7-27.phx1-1.websitetestlink.com