Daman fund posts record result
Dubai, October 16, 2011
Daman Investments, the leading Dubai-based investment management company, has announced record-breaking results for its Daman Second Emirates Fund (DSEF) for the month ending September 30.
It fund continued to outperform the UAE market and its respective peer group. The fund also declared a dividend payout for a record seventh consecutive quarter. For Q3 2011, the DSEF will distribute Dh 1.00 ($0.27) per unit, bringing up the total dividends since inception to Dh 18 ($4.91).
Another Daman Investments’ offering, the Daman Fifth Fund, a Dh200 million ($54 million) closed-ended fund focused on investments within the GCC markets, also registered strong performance with a year-to-date growth of 2.9 percent as the company announced the performance results of its funds for September 2011.
The Daman Islamic Fund and Daman Speculator Fund meanwhile performed steadily and largely maintained Net Asset Value, a statement from the investment management company said.
The success of these investment offerings is attributed to the Daman fund managers’ investment selection process which, at its core, based on capital preservation, it said. – TradeArabia News Service