Daman funds cap 2014 with record cash dividends

January 19, 2015 10:31 am

Daman Investments PSC, one of the leading UAE-based regional investment management companies, has reiterated its commitment to go public early this year following a bumper Q4 in 2014 for which it will once again pay record high dividends on investments funds.

“Our strong conviction that the UAE markets are set for a bounce back coupled with our strong performance are the two ingredients that give us the confidence in the market’s potential and self-belief in our abilities in order to continue working diligently towards our IPO,” said Mr. Shehab Gargash, Managing Director of Daman Investments PSC.

Daman Funds continue to be the GCC’s leading dividend-yielding funds with annualized returns in the triple digits, vastly outperforming the market.

Highlights include the flagship Daman Second Emirates Fund which will be paying out a record 20th consecutive quarterly dividend and the Daman Fifth Fund, which will be distributing a record AED 150 per unit dividend for the same quarter, bringing the annual dividend yield to 74.25 per cent, amongst the highest in the world. Boasting a staggering 231.91 per cent return, Daman Fifth Fund was the GCC’s highest performing fund in 2014 according to Bloomberg and Zawya.

Daman Funds’ consistently strong performance is in line with Daman’s investment philosophy which aims to deliver strong alpha via rigorously tested investment strategies. Daman Funds have achieved these superior returns through their unique insights developed over more than a decade of experience in GCC markets. Daman adheres to stringent risk management guidelines while keeping a vigilant eye on returns.

Mr. Shehab Gargash added: “Daman’s unique investment strategies have enabled the funds to greatly outperform the market and that’s a tangible demonstration of our in-house expertise and know-how which gives us our edge in a highly competitive market.”

Mr. Shehzad Janab, Head of Asset Management and Advisory of Daman Investments PSC said: “Daman’s Funds have had a strong finish to the year in 2014 maintaining their top flight status in volatile market conditions.” He also added further: “The sharp decline in the price of oil coupled with high margin lending has added further steam to the recent selloff and we expect the markets to rally in the first quarter as investors begin to refocus on fundamental factors such as valuations, earnings and dividends – which are expected to be much higher this year.”