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Daman Speculator Fund Grows by 2.04 Per Cent

DUBAI — Daman Investments PSC has announced its performance results for the month of September 2008 for three of its funds; the Daman Speculator Fund, the Daman Second Emirates Fund and the Daman Islamic Fund.

All Daman funds outperformed the market indices for the month, a Press Release from Daman Investments states.

The Daman Speculator Fund: a trendsetting UAE-registered open-ended fund focussed on the dynamic and vibrant nature of the UAE equity markets closed the month of September at an ex-dividend Net Asset Value (NAV) of Dh102.04 as of September 25, a change in month to date ex-dividend NAV of 2.04 per cent and registering a total return of 3.04 per cent since inception in July 2008.

On the dividend front, the fund has declared Dh1.00 per unit as dividend, and the current annualised dividend yield for 2008 stands at 4.70 per cent.

The Daman Second Emirates Fund: a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focussed on the UAE equities markets, closed the month of September at a Net Asset Value (NAV) of Dh92.97 per unit as of September 30, 2008, a decline of -10.51 per cent, as against NBAD General Index drop of -12.03 per cent.