Daman Fifth Fund declares its 13th consecutive quarterly dividend
Q1 2016
Dubai, UAE - Daman Investments PSC, one of the leading UAE-based regional investment management companies, announced today its 13th consecutive quarterly dividend for investors in its Daman Fifth Fund. A dividend payout of AED 2 per unit for the first quarter of 2016 is at the back of an impressive 7.4% return by the fund in Q1, 2016.
All of the Daman Funds have delivered superior risk-adjusted returns, beating the Emirates Securities Market index in the first quarter of 2016. This has been made possible through a time tested investment ethic and a robust set of risk management guidelines in what was a challenging market environment in Q1 2016.
The Daman Fifth Fund continues to be a leading dividend yielding fund in the GCC with its annualized 2016 dividend yield at 5.79%. The Fund's performance has been in line with Daman's investment philosophy that targets absolute returns and yields attractive dividends for its investors.
Commenting on the announcement, Mr. Shehab Gargash, Managing Director of Daman Investments PSC said: "The latest dividend is a testament to our capabilities of being a premier investment manager of choice for our investors. The Daman Fifth Fund continues to deliver solid returns making it one of the top dividend yielding funds in the region."
Mr. Farid Samji, Head of Asset Management at Daman Investments PSC said: "Despite a challenging first quarter, our funds continue to outperform their peers and market indices. Whilst trading in the regional markets has been punctuated with short term opportunistic plays derived largely from geo-political and macro-economic factors. This opportunistic pattern may prove to be a precursor to a solid performance in the stock markets in the second half of 2016."
About Daman Investments PSC (www.daman.ae)
Daman Investments PSC ("Daman") is a private joint stock company based in Dubai, UAE. 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 (GCC) 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 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 and the Securities and Commodities Authority (SCA).
For media inquiries, please contact:
Arabia PR:
Yasser Fathy
T: +971.4.342.3584
F: +971.4.342.3583
E: yasser@arabiapr.com
Press Release 2016