Registering an impressive performance during the year 2004, the UAE Value Fund has recorded an overall 83.88% growth from when its Net Asset Value stood at AED258.34 on January 1, 2005. As of March 1st, 2005 performance during the first two months of the year show a year to date growth of 14.45%.
Since inception, the Daman UAE Value Fund has recorded remarkable growth and consistent dividend distributions that have risen from AED 2.00 per share for the first quarter of operations in mid- 2001 to AED 15.75 per share for the whole of 2004. The dividend yield was 6.09% during 2004 against 1.61% for the benchmark NBAD Index.
The Daman UAE Value Fund has registered 40 months of positive gains over its 44-month life compared to only 33 months of positive gains made by the benchmark NBAD Index during this period.
The IFA Khaleeji Fund - 7.41% increase
In the same month, another Daman offering, The IFA Khaleeji Fund, registered a 7.41% increase reaching a NAV of US$134.75 per share on March 1, 2005, up from US$125.45 per share on February 1, 2005.
The IFA Khaleeji Fund, launched on 3rd March, 2004 in association with IFA and Univest groups of Kuwait, has given investors 34.75% returns since inception.
Browse
related articles
Daman UAE Value Fund, IFA Khaleeji Fund show impressive gains in NAVs during February 2005
- United Arab Emirates: Monday, March 14 - 2005 at 11:27
- PRESS RELEASE
The Net Asset Value (NAV) of the Daman UAE Value Fund grew by an exciting 9.52 per cent from AED 269.95 per share to AED 295.66 per share during February 2005 with another Daman offering - The IFA Khaleeji Fund - posting a growth of 7.41 per cent during the month.
Related stories
Also consider reading:
Digg
Facebook
LinkedIn
Twitter
Browse
related articles
Log in to request more information from Daman UAE Value Fund
Notes and media contacts
About Daman UAE Value FundDaman UAE Value Fund is a closed-end, offshore mutual fund focused on the UAE stock market. It was launched on 1st July 2001 with shares valued at a par value of AED 100. 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 dividends totaling AED 39 per share since inception, the most recent being AED 5.00 per share for the fourth quarter of 2004.
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.
About IFA Khaleeji Fund
The open-ended IFA Khaleeji Fund, registered in the Cayman Islands, targets institutional and high net worth investors. It was launched on 3rd March 2004 with a $100 per unit price and minimum subscription set at US$500,000. The initial offer period ended on 31st March 2004. Subscriptions are accepted twice a month at NAV. Redemptions will be once every quarter. The fund invests in the equities of the Arab Gulf markets.
The fund aims to pay dividends of up to half the realised gains every quarter.
For further details please contact:
Daman Corporate Communications
Tel: 971 4 332 41 43
Fax: 971 4 332 42 40
corpcomm@daman.ae
Or
Mr. Yasser Fathy/Clarence Michael
Arabia PR FZ LLC
Tel: + 971 4 391 12 00
Fax: + 9714 390 45 11
Posted by Anne-Birte Stensgaard, Senior News EditorMonday, March 14 - 2005 at 11:27 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.
Disclaimer:
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
It looks like you are using a Mac - check out our 
Web Feeds