Mr. Shehab M. Gargash, Director of the Fund said today: "The UAE market continued to exhibit strong growth leading up to the announcement of annual results and dividends for the year ended December 31, 2003." Al Daman UAE Value Fund has performed well against the benchmark NBAD Index and continued its excellent record of out performing competitor offerings during the month of January.
Mr. Gargash went on to state that "Many companies and particularly the banking sector are reporting record profits, which investors expect to be reflected in prices that will gradually reflect these positive results. As a result the outlook for UAE securities continues to appear attractive, at least for the first half of 2004."
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Daman UAE Value Fund begins the year with a 3.82 per cent rise
- United Arab Emirates: Tuesday, February 24 - 2004 at 12:26
- PRESS RELEASE
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Daman UAE Value Fund announced today that the Net Asset Value of the Fund increased to AED 154.86 in the month of January 2004, a rise of 3.82 per cent from the post dividend Net Asset Value of AED 149.06 as at January 1, 2004.
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Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, February 24 - 2004 at 12:26 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Tue Dec 14 2004.
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About Daman UAE Value Fund
Daman UAE Value Fund is a closed-ended, offshore mutual fund focused on the UAE stock market. It was launched on July 1, 2001 with shares valued at a par value of AED 100.00. The Fund commissions an independent audit of its Net Asset Value (NAV) at the end of each month, and releases monthly NAV statements. The Fund has announced ten quarterly dividends totaling AED 23.25/share, the most recent being AED 2.75/share for the Fourth Quarter of 2003.
Daman UAE Value Fund is a Mauritius-registered public company. The Fund's governance structure is designed to ensure maximum transparency and accountability to shareholders.
For more information, please contact Keith Reid, Daman Securities
Tel: + 971.4.332.4140 Fax:+ 971.4.332.4240
Daman UAE Value Fund is a closed-ended, offshore mutual fund focused on the UAE stock market. It was launched on July 1, 2001 with shares valued at a par value of AED 100.00. The Fund commissions an independent audit of its Net Asset Value (NAV) at the end of each month, and releases monthly NAV statements. The Fund has announced ten quarterly dividends totaling AED 23.25/share, the most recent being AED 2.75/share for the Fourth Quarter of 2003.
Daman UAE Value Fund is a Mauritius-registered public company. The Fund's governance structure is designed to ensure maximum transparency and accountability to shareholders.
For more information, please contact Keith Reid, Daman Securities
Tel: + 971.4.332.4140 Fax:+ 971.4.332.4240
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