Daman funds declare record cash dividends
Dubai, February 4, 2014
Daman Investments, a leading UAE-based regional investment management company, has declared a 4.97 per cent cash dividend for its investors of the flagship 'Daman Second Emirates Fund' for 2013.
Announcing the dividends for the fourth quarter, Daman said the '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.
The company said it will distribute 4.31 per cent cash dividends to the investors of Daman Islamic Fund for 2013, while Daman Speculator Fund will offer 1.95 per cent dividend along with Daman Fifth Fund which has declared 4.42 per cent dividends for 2013.
"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," remarked Shehab Gargash, the managing director of Daman Investments.
Shehzad Janab, the 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.”
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 GCC and Iraq, he added.-TradeArabia News Service