Daman speculator fund grows 2.04% in turbulent market
Fund distributes initial quarterly dividend of AED 1 per unit; Registers total return of 3.04% since inception
Daman Investments PSC, a leading UAE-based fund manager, today announced the performance results for the month of September 2008 for three of its funds; the Daman Speculator Fund, the Daman Second Emirates Fund and the Daman Islamic Fund. All Daman funds outperformed the market indices for the month.
DAMAN SPECULATOR FUND DISTRIBUTES INITIAL DIVIDEND OF AED 1 PER UNIT – EX-DIVIDEND NAV OF AED 102.04
The Daman Speculator Fund, a trendsetting UAE-registered open-ended fund focussed on the dynamic and vibrant nature of the UAE equity markets closed the month of September at an ex-dividend Net Asset Value (NAV) of AED 102.04 as of September 25, 2008, a change in month to date ex-dividend NAV of 2.04% and registering a total return of 3.04% since inception in July 2008.
On the dividend front, the fund has declared AED 1.00 per unit as dividend, and the current annualized dividend yield for 2008 stands at 4.70%.
DAMAN SECOND EMIRATES FUND POSTS NAV OF AED 92.97 PER UNIT- OUTPERFORMS INDEX
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 of September at a Net Asset Value (NAV) of AED 92.97 per unit as of September 30, 2008, a decline of -10.51%, as against NBAD General Index drop of -12.03%.
DAMAN ISLAMIC FUND NAV STANDS AT AED 81.90 PER UNIT – OUTPERFORMS INDEX
The Daman Islamic Fund, a Shari’ah based, open ended UAE-registered mutual fund, closed the month of September at a Net Asset Value (NAV) of AED 81.90 as of September 30, 2008, a month to date decline of -9.36%, as compared to NBAD Islamic Index drop of -10.16% for the corresponding period.
