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Shuaa Capital rebounds, reports successful closure of equity fund

The Dubai market gauge DFMGI closed a roller coaster trading dau 0.14% higher at 1,464.57 points. Emaar Properties gained 1.40% to reach Dhs2.89. Investment bank Shuaa Capital edged up 2.92% to hit Dhs0.669. Earlier in the day, Shuaa said that it has successfully closed its SHUAA Partners Fund 1. "During the Fund's vintage period, from 2005 to 2012, public equity markets in the UAE (MSCI UAE Index) posted a decline of 78%. Following the sale of two remaining investments, SHUAA Partners Fund 1 has generated an IRR of 7.6% over its investment period," Shuaa said in a statement to the DFM. Logstics provider Aramex did not benefit from the market's last-minute swing into the green and ended 0.60% lower at Dhs1.74. Nine shares advanced, 12 declined and 5 closed flat. Some 70.5m shares were traded, valued at Dhs54.2m.