Daman fund outperforms NBAD index

Daman Investments, the Dubai-based investment management company, yesterday said its open-ended Daman Second Emirates Fund, which is focused on UAE equities, outperformed the index, rising 0.48 per cent against 0.47 per cent decline in NBAD General Index in April. Its net asset value stood at Dh43.45 per unit.

Meanwhile, the Daman Islamic Fund recorded a drop of 0.64 per cent and ended April at a NAV of Dh43.06.

The Daman Speculator Fund, while closing the month with a drop of 1.87 per cent, posted an improved annualised dividend yield of 2.94 per cent as compared to 2008 dividend yield of 2.89 per cent recorded at the end of March.

The Daman Second Emirates Fund, also an open-ended fund, followed through with its previous growth of 3.25 per cent in March as it ended April with a growth of 0.48 per cent at a NAV of Dh43.45.

The fund also posted an improved year-to-date growth of 0.12 per cent from -0.35 per cent in the previous month. Since its inception, the fund has distributed dividends of Dh5.

The Daman Islamic Fund closed at a net asset value of Dh43.06 per unit as of April 30, falling 0.64 per cent as compared to 3.68 per cent drop on the NBAD Islamic Index. Matched up by an improved total performance of -53.19 per cent since inception, the fund's year-to-date growth is now calculated at 1.54 per cent as against 4.56 per cent witnessed on the Islamic Index.

The Daman Speculator Fund closed at a NAV of Dh101.96, logging a decline of 1.87 per cent from its ex-dividend NAV of Dh103.95 as on March 31.

The fund exhibited stable performance following a dividend distribution of Dh0.75 per share in March. The fund has clocked in an improved 2009 annualised dividend yield of 2.94 per cent as compared to 2008 dividend yield of 2.89 per cent recorded at the end of March 2009. The Daman Speculator Fund exhibits a year-to-date growth of -0.05 per cent, while total performance since inception is 4.21 per cent.

 

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.