Daman’s funds declare record cash dividends as UAE markets cap stellar year
Daman Investments PSC, one of the leading UAE-based regional investment management companies, announced dividends for the fourth quarter of 2013 on all its funds.
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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