DUBAI: Daman Investments, a Dubai-based private joint-stock company, has been mandated for a $105 million Shariah-compliant fixed income strategy from a financial institution in UAE. 

Citing confidentiality reasons, the name of the UAE-based financial institution has not been disclosed. 

In a statement, Daman said that the company’s ability to tailor the structure around the client’s guidelines and expectations was crucial in winning this mandate. 

Commenting on the announcement, Ali El Adou, head of asset management at Daman Investments, said: “Winning this mandate reflects the recognition and the trust of institutional investors in the asset management team’s track record and experience in managing multi-asset class emerging markets strategies.”

Khalid Zuroub, head of institutional business at Daman Investments, said this mandate is the proof of clients’ trust in Daman's structuring as well as execution capabilities.

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