The NAV of Daman UAE Value Fund rose to touch AED 485.70 on September 1, 2005 from AED 422.03 on August 1, 2005. The fund has recorded a remarkable year-to-date growth of 93.43% during this year.
The fund distributed a dividend of AED 8 a share for the second quarter this year with the next dividend payment expected in October. During the first quarter the dividend was AED6 a share, marking an annualized dividend yield of 5.76% in 2005. The Daman UAE Value Fund has paid investors dividends amounting to AED 53 since its inception.
So far during its 50 months of operation, the Daman UAE Value Fund has registered consistent growth for 44 months against the benchmark NBAD Index which has risen for only 37 months during this period.
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Daman UAE Value Fund exceeds 15 per cent growth in August 2005
- United Arab Emirates: Sunday, September 11 - 2005 at 10:31
- PRESS RELEASE
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In its 50th month of operations, the Daman UAE Value Fund (DUV) registered a distinct increase of 15.09 per cent in its Net Asset Value (NAV) during August 2005 despite fluctuations in the stock markets during this period, announced Daman Asset Management, managers of the fund.
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Posted by Anne-Birte Stensgaard, Senior News EditorSunday, September 11 - 2005 at 10:31 UAE local time (GMT+4)
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This article was updated on Sun Sep 25 2005.
Notes and Media Contacts »
About Daman UAE Value Fund:
Daman 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 53 per share since inception, the most recent being AED 8.00 per share for the second quarter of 2005.
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 further details please contact:
Daman Corporate Communications
Tel: 971 4 332 41 43
Fax: 971 4 332 42 40
Or, Arabia PR FZ LLC
Tel: + 971 4 391 12 00
Fax: + 9714 390 45 11
Daman 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 53 per share since inception, the most recent being AED 8.00 per share for the second quarter of 2005.
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 further details please contact:
Daman Corporate Communications
Tel: 971 4 332 41 43
Fax: 971 4 332 42 40
Or, Arabia PR FZ LLC
Tel: + 971 4 391 12 00
Fax: + 9714 390 45 11
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