Daman Investments, a UAE-based regional investment management company, has paid a record high dividend for the second quarter of the year.

Daman Funds have upheld their longstanding reputation as the leading dividend-yielding funds in the GCC investment arena with annualised dividend yields reaching double digits, which are vastly higher than current market dividend yields, said a statement.

The funds performed the strongest, with the Daman Fifth Fund yielding returns of 168.66 per cent since the beginning of the year.

The fund was named the best performing vehicle in the GCC region in terms of YTD returns by Bloomberg and Zawya, it said.

The company aims at delivering strong alpha via rigorously tested investment strategies. Adhering to stringent risk management guidelines while keeping a vigilant eye on significant returns, Daman Funds have achieved these superior returns through its insights developed over more than a decade of experience in the GCC markets, said the statement.

Shehab Gargash, managing director of Daman Investments, said: “The compelling outperformance of Daman Funds marks a spectacular period for us and our investors and we aim to carry on providing dividend yields in line with our performance.”

Shehzad Janab, head of Asset Management and Advisory, added: “Daman Funds have had a record year as we continue to see more upsides in our markets based on the current risk reward profile.” - TradeArabia News Service