Jun 20 2009
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Daman Investments launches Proprietary Systematic Trading account products for GCC equities & global exchange traded futures
Dubai: Daman Investments , the parent company of Daman Securities LLC, announced the introduction of a new proprietary Daman Systematic Trading System methodology that offers an alternative opportunity in portfolio fund management. The announcement was a real time demonstration of the system held in a private invitation forum for a select group of investors and senior industry professionals.
Introducing the new products, Shehab Gargash CEO of Daman Investments said: "We are very pleased to introduce this new system which we have developed and tested for the past year. The performance results have been consistently impressive and we feel that this is a product tailored to today's market conditions. We have a strong performance driven track record and believe that the new Systematic Trading Accounts are an ideal addition to our range of products and initiatives."
The system was presented in a real time trading environment by Gerard O'Neill, Head of Systematic Trading at Daman and Peter Barr, Investment Manager. When asked about the unique elements of the system, Mr. O'Neill said: "The Systematic Trading Accounts work on algorithmic driven formulas that have been developed and tested in our markets for the past 12 months. They have proven to be reliable, consistently meeting our expectations and provide a cost effective alternative to portfolio management. Both are discretionary, absolute return products (The Daman Diversified Managed Futures Account and the Daman GCC Systematic Trading Master Account) and provide strong signals indicating ideal trading opportunities whether the market is up or down. We are not dependent on a buoyant Bull market to drive profitability with this methodology. Both Accounts have defined targets, tailored objectives that avoid style drift and include clear built-in stop loss guidelines."
Daman Investments PSC is a private joint stock company based in Dubai and capitalized at AED 200 million. From its early beginnings in 1998, the group has grown rapidly into a non-bank financial services company now widely recognized as an authority in its core markets, the Gulf Cooperation Council and Iraq.
Known for offering innovative investment products and services to both regional and international clients, Daman provides investment management and development capital investment opportunities as well as domestic and regional brokerage operations through its subsidiaries. Daman is committed to the principles of ethical business practice and operational transparency. All Daman's various operations are regulated by the United Arab Emirates Central Bank, the Emirates Securities and Commodities Authority (ESCA) and the Dubai Financial Services Authority (DFSA). Daman is well positioned for its clients as their gateway to the new Arab World economy.
ABOUT THE DAMAN SYSTEMATIC TRADING ACCOUNTS
An Absolute Return driven Systematic identification of superior risk-adjusted trading opportunities, the Daman Systematic Trading Accounts have been developed as a proprietary product for current trading conditions and the GCC equities markets.
All trading decisions are systematic based upon predefined rules of a proprietary model. Strategies are thoroughly tested and statistically evaluated before implementation. Implemented strategies are continually monitored and evaluated to ensure they are within expected performance boundaries. The application of pre-determined risk for a particular trading opportunity is the strategy driving Systematic Trading Account portfolio success.
Minimum entry to Daman Diversified Managed Futures Account is USD 100,000. and the Daman GCC Systematic Trading Master Account is AED 200,000. Subscriptions and redemptions are Monthly and advised 3 working days before month end. Please refer to the Client Agreement for Discretionary Investment Management for the "Risk Guidelines."
About the Daman Second Emirates Fund (www.damanfunds.com)
The Daman Second Emirates Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focussed on the UAE equities markets. The fund has an initial offered unit price of AED100 and a targeted size of AED 200 million. Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.
About the Daman Islamic Fund
The Daman Islamic Fund is a Shari'ah based; Open ended UAE-registered Mutual Fund regulated by the United Arab Emirates Central Bank. The Fund will invest primarily in Shari'ah Compliant securities listed on the UAE financial exchanges. The Fund will have an initial offered unit price of AED100 and a targeted size of AED 200 million. Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and will seek to achieve a combination of capital growth and regular dividend income.
About the Daman Speculator Fund
The Daman Speculator Fund is a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank. The fund will have an initial offered unit price of AED 100 per share and a targeted size of AED 200 million. Daman Investments seed capital in the fund is AED 5 million.
Subscriptions are weekly with monthly redemptions. The Net Asset Value will be calculated and published weekly. The fund is open to all nationalities as well as non-UAE residents and seeks to exploit the dynamic potential of the UAE and GCC equity markets.
© Press Release 2009
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