Daman second Emirates fund and Daman Islamic Fund both distributed Dhs1 dividend for first quarter 2008

Marking its first full year of operation, the Daman Second Emirates Fund posted overall gross performance returns of 23.66%.

Both funds have also distributed dividends every quarter since inception, including Dhs1 for the first quarter of 2008.

Daman Second Fund celebrates YTD Gross performance returns 23.66%

The Daman Second Emirates Fund, which was launched on April 2007, as a UAE-registered open-ended fund focusing on the UAE equities markets has celebrated the completion of its first full year of operation marking gross returns of 23.66%.

During the month of March, the fund posted a net asset value (NAV) of Dhs120.66 per unit as of March 31st 2008.

Making consistent quarterly dividend payouts since inception, the Fund has declared, in the first quarter of 2008, a dividend of Dhs1 per unit for investors as of March 31 2008.

With this, the Fund has made total dividend payouts of Dhs4 per unit since inception and marks the ex-dividend NAV as of April 1 2008 to stand at Dhs119.66 per unit

Daman Islamic Fund distributes Dhs1 divedend for Q1 08-yields higher than index gross returns of 11.03% since inception

On a further note, Daman Investments has announced the results of its Shari'ah based fund the Daman Islamic Fund which is an open ended UAE-registered mutual fund that invests primarily in Shari'ah compliant securities listed on the UAE financial exchanges.

Since inception in June 2007, the Daman Islamic Fund has yielded gross returns of 11.03%. In comparison, the performance of the benchmark NBAD Islamic Index for the same comparable period was 7.62%.

As of March 31 2008, the fund declared Dhs1 per unit as the 2008 first quarter dividend payout for investors. With this, the Fund has made total dividend payments of Dhs2.75 per unit since inception with an ex-dividend NAV as of April 1 2008 to stand at Dhs108.28 per unit ex-dividend.

Upon the dividend distribution, the fund closed the month of March at an ex-dividend net asset value (NAV) of Dhs109.28.

Daman Arabian Programmed Trading Fund tops GIC index

Daman's first risk managed fund, the Arabian Programmed Trading Fund (APTF), outperformed the GIC GCC index for the month of March 2008 with a decline of -4.85% as against a -5.64% drop made by the benchmark index.

The Net asset value (NAV) of the fund now stands at $87.65.