Daman Speculator Fund declares Q1 dividend
Dubai, April 19, 2009
Daman Speculator Fund, the newest offering of Daman Investments' , has declared a dividend of Dh0.75 per unit for the first quarter of this year.
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.
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 per cent. Overall, all three of Daman’s investment funds have indicated a stable growth in Net Asset Value (NAV).
The Daman Speculator Fund, apart from distributing dividends of Dh0.75 per share, has reported an increase in NAV per unit, rising by 1.97 per cent to Dh104.70 as of March 31, 2009. Ex-dividend NAV is now pegged at Dh103.66 as of April 2, 2009, bringing the annualised dividend yield for 2009 to 2.89 per cent.
The Fund, which was specifically structured to withstand tumultuous economic conditions, has recorded a total performance of 6.20 per cent since its inception, indicating a considerable rise from last month’s 4.15 per cent.
The Daman Second Emirates Fund, a UAE-registered open-ended fund regulated by the UAE Central Bank and focused on UAE equity markets, closed the month of March at a NAV of Dh43.22 per unit, up 3.25 per cent over last month while outperforming the NBAD General Index pegged at 2.16 per cent.
The annualised dividend yield for the fund currently stands at 9.25 per cent, as against the NBAD General Index’s 3.34 per cent.
The Daman Islamic Fund, a Shari’ah principle-based, UAE-registered open-ended mutual fund closed the month at a NAV of Dh43.36 per unit as of March 31, signifying a month-to-date rise of 1.84 per cent.
The current annualised dividend yield stands at 9.23 per cent as against the NBAD Islamic Index at 1.13 per cent.-TradeArabia News Service