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 October at a Net asset value (NAV) of Dhs103.95 per unit as of as of October 30, 2008, a month to date rise of 1.85% and registering a total return of 4.95% since inception in July 2008
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 October at a Net asset value (NAV) of Dhs71.33 per unit as of October 30, 2008, a decline of -22.09%, as against NBAD General Index drop of -17.71%.
The Daman Islamic Fund, a Shari'ah based, open ended UAE-registered mutual fund, closed the month of October at a Net asset value (NAV) of Dhs63.85 per unit as of October 30, 2008, a month to date decline of -21.07%, as compared to NBAD Islamic Index drop of -18.09% for the corresponding period.
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Daman Speculator remains steady in October with growth of 1.85% despite market conditions
- United Arab Emirates: Saturday, November 22 - 2008 at 15:37
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Daman Investments PSC, a leading UAE-based fund manager, today announced the performance results for the month of October 2008 for three of its funds; the Daman Speculator Fund, the Daman Second Emirates Fund, the Daman Islamic Fund.
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Posted by Rana MesbahSaturday, November 22 - 2008 at 15:37 UAE local time (GMT+4)
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About Daman Investments PSC:
Daman Investments PSC is a private joint stock company based in Dubai and capitalized at Dhs200m 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 Gulf Cooperation Council and Iraq.
Known for offering innovative investment products and services to both regional and international clients, Daman provides investment management and development capital investment opportunities as well as domestic and regional brokerage operations through its subsidiaries. Daman is committed to the principles of ethical business practice and operational transparency. All Daman's various operations are regulated by the United Arab Emirates Central Bank, the Emirates Securities and Commodities Authority (ESCA) and the Dubai Financial Services Authority (DFSA). Daman is well positioned for its clients as their gateway to the new Arab World economy.
About the Daman Speculator Fund:
The Daman Speculator Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank. The fund will have an initial offered unit price of Dhs100 per share and a targeted size of Dhs200m. Daman Investments seed capital in the fund is Dhs5m.
Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and seeks to exploit the dynamic potential of the UAE and GCC equity markets.
About the Daman Second Emirates Fund:
The Daman Second Emirates Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focussed on the UAE equities markets. The fund has an initial offered unit price of Dhs100 and a targeted size of Dhs200m. Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.
About the Daman Islamic Fund:
The Daman Islamic Fund is a Shari'ah based; Open ended UAE-registered Mutual Fund regulated by the United Arab Emirates Central Bank. The Fund will invest primarily in Shari'ah Compliant securities listed on the UAE financial exchanges. The Fund will have an initial offered unit price of Dhs100 and a targeted size of Dhs200m. Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.
For further information, kindly contact:
Daman Corporate Communications
Tel: 971 4 332 41 43
Fax: 971 4 332 42 40
Or
Yasser Fathy
Arabia PR FZ LLC
Tel: + 971 4 391 12 00
Fax: + 9714 390 45 11
Daman Investments PSC is a private joint stock company based in Dubai and capitalized at Dhs200m 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 Gulf Cooperation Council and Iraq.
Known for offering innovative investment products and services to both regional and international clients, Daman provides investment management and development capital investment opportunities as well as domestic and regional brokerage operations through its subsidiaries. Daman is committed to the principles of ethical business practice and operational transparency. All Daman's various operations are regulated by the United Arab Emirates Central Bank, the Emirates Securities and Commodities Authority (ESCA) and the Dubai Financial Services Authority (DFSA). Daman is well positioned for its clients as their gateway to the new Arab World economy.
About the Daman Speculator Fund:
The Daman Speculator Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank. The fund will have an initial offered unit price of Dhs100 per share and a targeted size of Dhs200m. Daman Investments seed capital in the fund is Dhs5m.
Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and seeks to exploit the dynamic potential of the UAE and GCC equity markets.
About the Daman Second Emirates Fund:
The Daman Second Emirates Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focussed on the UAE equities markets. The fund has an initial offered unit price of Dhs100 and a targeted size of Dhs200m. Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.
About the Daman Islamic Fund:
The Daman Islamic Fund is a Shari'ah based; Open ended UAE-registered Mutual Fund regulated by the United Arab Emirates Central Bank. The Fund will invest primarily in Shari'ah Compliant securities listed on the UAE financial exchanges. The Fund will have an initial offered unit price of Dhs100 and a targeted size of Dhs200m. Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.
For further information, kindly contact:
Daman Corporate Communications
Tel: 971 4 332 41 43
Fax: 971 4 332 42 40
Or
Yasser Fathy
Arabia PR FZ LLC
Tel: + 971 4 391 12 00
Fax: + 9714 390 45 11
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