Daman UAE Value Fund (DUV) registers over 108 per cent growth so far this year

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 64 per share since inception, the most recent being AED 11.00 per share for the third 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.

About Arabian Programmed Trading Fund (Facet Arabia)

Arabian Programmed Trading Fund (APTF) Facet Arabia was launched in February 2005. The first GCC computer model aided stock analysis fund, APTF introduced a systematic, non-emotional approach to risk managed investment.

Launched in conjunction with Facet Funds plc, an offshore funds platform regulated by Cayman Islands Monetary Authority and Commander Asset Management Ltd, authorized and regulated by the UK's Financial Services Authority (FSA), APTF is a Cayman Islands-registered Fund which will utilize Commander Asset Management's proprietary risk analysis programme model in order to effectively advise on the timing of the purchase and sale of individual stocks chosen by Daman.

The fund is specifically designed with the ability to hold shares (equity) or cash. Individual positions are sold when conditions dictate and cash is held until a reinvestment opportunity arises in that particular stock. Currently the portfolio consists of 64 stocks from GCC, out of 450+ that have been evaluated. The fund has registered a year-to-date growth of 19.47% so far.

Minimum investment in this Fund is US$1 million. Redemptions will be quarterly.