Daman UAE Value Fund today announced a record dividend payout of AED8.00 per share and growth by 36.56% for the second quarter of 2005.
This announcement was made to the board members and shareholders during the 4th Annual General Meeting (AGM) held in Dubai on Wednesday, June 29th, 2005. .
This quarterly dividend payout follows another trend-setting performance by the UAE Value Fund, which closed the second quarter with an ex-dividend NAV of AED 517.47 per share against AED 454.74 on June 1, 2005.
Mr. Shehab Gargash, Managing Director, Daman, said: “Our quarterly dividend distribution policy is a logical extension of our overall strategic investment policies that always put our individual investor interests first. Even in a volatile situation, as we witnessed in the last month, we are proud to report that our investors have gained incrementally through the period every month and quarter.”
Contrasted against the benchmark NBAD Index, this dividend payout works out to an annualized yield of 5.41% on the ex-dividend NAV as against 0.81% for NBAD.
The UAE Value Fund’s year-to-date growth has been placed at an exciting 105.73% during 2005. The Fund has yielded investors a remarkable 470.47% return since inception in 2001 with a total dividend distribution since inception currently standing at AED53.00 a share.
Arabian Programmed Trading Fund ( APTF)
For the Daman managed Arabian Programmed Trading Fund (APTF), the NAV (as on June 23, 2005) stood at US$115.73 against a NAV of US$106.48 as on May 26, 2005, representing a sizeable jump of nearly 8.69%. This is against a 12.98% return on the benchmark GIC Composite Index for June 2005.
Since its launch in March 2005, the APTF has registered a solid growth of 15.73% YTD.
Daman has a history of introducing innovative products and vehicles that have, to date, provided investors with sustained positive returns. “The APTF is a uniquely innovative product that is well suited for the turbulent period ahead in the burgeoning regional markets” added Mr. Shehab Gargash.
