403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Daman funds outperform in Q2 amid volatile markets
(MENAFN- Khaleej Times) Daman Investments, a UAE-based fund manager, announced record Q2 fund dividends despite volatile market conditions.
The flagship Daman Second Emirates Fund, which is focused on the UAE market, paid its 22nd consecutive quarterly dividend.
The UAE's lifting of restrictions on the ownership of etisalat shares, opening up the region's second largest telecommunications provider to foreign investors for the first time, was a boon to Abu Dhabi Securities Exchange General Index, with the stock surging 15 per cent, its biggest advance this year.
The GCC-focused Daman Fifth Fund continued to outperform regional markets and peers by posting a 54 per cent increase in performance during the first half of 2015, which comes on the back of 232 per cent increase in 2014.
By comparison, the Dubai Financial Market and Abu Dhabi Securities Market rose 8.29 per cent and 4.29 per cent over the same six-month period respectively, with GCC markets seeing increased volatility toward the end of Q2 2015 on the back of the ongoing Greek financial crisis, uncertainty in Chinese equities and continued low oil prices.
The Dubai Financial Market ended the month of June at 4,086.8, increasing 4.2 per cent, while the Abu Dhabi and Qatar markets closed the month higher at 4,732.2 rising 4.3 per cent and 12,201.0, adding 1.3 per cent respectively. The Saudi Market closed the month at 9,086.9 falling 6.2 per cent.
"The performance of our funds is a reflection of Daman Investments' deployment of unique investment strategies that have enabled us to perform well even in the most challenging of environments," Daman Investments chairman Shehab Gargash said.
"We continuously track the performance of Daman Investments funds, monitoring for risks and carefully timing and diversifying investments to maximise potential upsides," Shehzad Janab, head of asset management and advisory of Daman Investments, said. "Our Daman Fifth Fund in particular exemplifies the benefits of this strategy, having increased by 750 per cent since its launch in 2010."
Daman Investments is licensed and regulated by the Central Bank of the UAE and the Emirates Securities and Commodities Authority.
The flagship Daman Second Emirates Fund, which is focused on the UAE market, paid its 22nd consecutive quarterly dividend.
The UAE's lifting of restrictions on the ownership of etisalat shares, opening up the region's second largest telecommunications provider to foreign investors for the first time, was a boon to Abu Dhabi Securities Exchange General Index, with the stock surging 15 per cent, its biggest advance this year.
The GCC-focused Daman Fifth Fund continued to outperform regional markets and peers by posting a 54 per cent increase in performance during the first half of 2015, which comes on the back of 232 per cent increase in 2014.
By comparison, the Dubai Financial Market and Abu Dhabi Securities Market rose 8.29 per cent and 4.29 per cent over the same six-month period respectively, with GCC markets seeing increased volatility toward the end of Q2 2015 on the back of the ongoing Greek financial crisis, uncertainty in Chinese equities and continued low oil prices.
The Dubai Financial Market ended the month of June at 4,086.8, increasing 4.2 per cent, while the Abu Dhabi and Qatar markets closed the month higher at 4,732.2 rising 4.3 per cent and 12,201.0, adding 1.3 per cent respectively. The Saudi Market closed the month at 9,086.9 falling 6.2 per cent.
"The performance of our funds is a reflection of Daman Investments' deployment of unique investment strategies that have enabled us to perform well even in the most challenging of environments," Daman Investments chairman Shehab Gargash said.
"We continuously track the performance of Daman Investments funds, monitoring for risks and carefully timing and diversifying investments to maximise potential upsides," Shehzad Janab, head of asset management and advisory of Daman Investments, said. "Our Daman Fifth Fund in particular exemplifies the benefits of this strategy, having increased by 750 per cent since its launch in 2010."
Daman Investments is licensed and regulated by the Central Bank of the UAE and the Emirates Securities and Commodities Authority.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment