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Daman’s funds declare record cash dividends as the UAE markets cap a stellar year 2014 promises to be another outstanding year .
DUBAI, UAE, February 4th, 2014: Daman Investments PSC, one of the leading UAE-based regional investment management companies, announced today dividends for the fourth quarter of 2013 on all its funds shall be payable as follows:
Fund Net Asset Value
as of December 31, 2013 Q4 Dividend in AED Per Unit 2013 Dividend Yield Per Unit
Daman Second Emirates Fund 138.29 2.5 4.97%
Daman Islamic Fund 129.99 2.5 4.31%
Daman Speculator Fund 104.67 2 1.95%
Daman Fifth Fund 149.69 2.5 4.42%
UAE Market Yields
Dubai Financial Market 2.33%
Abu Dhabi Securities Market 3.93%
The flagship Daman Second Emirates Fund will be paying out a record 16th consecutive quarterly dividend. The Funds investment objectives include achieving capital appreciation as well as maintaining attractive dividend yields.
Commenting on the announcement, Mr. Shehab Gargash, Managing Director of Daman Investments PSC said, “As we had previously forecasted, the UAE markets were amongst the top performing markets globally in 2013 and we think that 2014 will be another outstanding year for the UAE markets.”
Mr. Shehzad Janab, Head of Asset Management and Advisory of Daman Investments PSC said, “As a strategy we continue to position ourselves in high yielding dividend plays, hence the dividend yields in our funds are well above current market yields.”
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