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Meanwhile, the Daman Islamic Fund recorded a month-to-date change of -0.64% and ended April at a NAV of Dhs43.06. The Daman Speculator Fund, while closing the month with a drop of 1.87%, posted an improved annualised dividend yield of 2.94% as compared to 2008 dividend yield of 2.89% recorded at the end of March 2009.
Daman Second Emirates Fund grows 0.48% - outperforms negative index
The Daman Second Emirates Fund, a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focused on UAE equity markets, followed through with its previous growth of 3.25% recorded in March 2009 as it ended April with a growth of 0.48% at a Net Asset Value (NAV) of Dhs43.45. The Fund also posted an improved year-to-date growth of 0.12% from -0.35% in the previous month. Since its inception, the Fund has distributed dividends of Dhs5.00.
Daman Islamic Fund drops 0.64% at dhs43.06 in contrast with index drop of 3.68%
The Daman Islamic Fund, a Shari'ah principle-based, UAE-registered open-ended mutual fund closed the month at a Net Asset Value of Dhs43.06 per unit as of April 30, 2009, spelling a month-to-date change of -0.64% as compared to -3.68% found on the NBAD Islamic Index. Matched up by an improved total performance of -53.19% since inception, the Fund's year-to-date growth is now calculated at 1.54% as against 4.56% witnessed on the Islamic Index.
Daman Speculator Fund - steady upward performance post march dividend distribution
The Daman Speculator Fund, launched in July 1, 2008, closed the month of April at a NAV of Dhs101.96, logging a decline of 1.87% from its ex dividend NAV of Dhs103.95 as on March 31, 2009. The Fund exhibited a stable performance following a dividend distribution of Dhs0.75 per share at the end of March. Specifically engineered to withstand turbulent economic conditions, the Fund has clocked in an improved 2009 annualised dividend yield of 2.94% as compared to 2008 dividend yield of 2.89% recorded at the end of March 2009. The Daman Speculator Fund exhibits a year-to-date growth of -0.05%, while total performance since inception is now pegged at 4.21%
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Posted by Nadeen El Ajou
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