Daman funds outperform indices
Dubai, October 25, 2008
Daman Investments, a leading UAE-based fund manager, said three of its funds - the Daman Speculator Fund, the Daman Second Emirates Fund and the Daman Islamic Fund - outperformed the market indices for September.
The company said the Daman Speculator Fund closed the month at an ex-dividend Net Asset Value (NAV) of Dh102.04 ($27.77) as of September 25, a change in month to date ex-dividend NAV of 2.04 per cent and registering a total return of 3.04 per cent since inception in July 2008.
The fund has declared Dh1 per unit as dividend, and the current annualised dividend yield for 2008 stands at 4.70 per cent.
The Daman Second Emirates Fund, a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focussed on the UAE equities markets, closed the month at a NAV of Dh92.97 per unit, a decline of -10.51 per cent, as against NBAD General Index drop of -12.03 per cent.
The Daman Islamic Fund, a Shari'ah based, open ended UAE-registered mutual fund, closed the month at a NAV of Dh81.90, a month to date decline of -9.36 per cent, as compared to NBAD Islamic Index drop of -10.16 per cent for the corresponding period. - TradeArabia News Service