Daman declares record payout

DUBAI — Daman UAE Value Fund (DUV), yesterday announced a record dividend payout of Dh11 per share to the shareholders for the third quarter of 2005, taking the total dividend distributed so far this year to Dh 25 a share.

By A Staff Reporter

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Published: Sat 15 Oct 2005, 10:35 AM

Last updated: Thu 2 Apr 2015, 5:36 PM

For the current year, the fund has posted a year-to-date growth of 112.85 per cent.

The DUV Fund posted a 10.33 per cent growth, increasing its net asset value (NAV) to Dh524.88 on October 1, 2005 from Dh485.70 on September 1, 2005.

In contrast to Daman's DUV 10.33 per cent growth; the benchmark NBAD Index rose 7.42 per cent during this period.

During the third quarter of 2005, DUV Fund posted a growth of 3.23 per cent against NBAD Index's 3.45 per cent growth.

With the third quarter dividend of Dh11 a share, a record since the fund's inception, the total dividend this year so far works out to Dh25 a share at an annualised dividend yield of 6.33 per cent.

For the second quarter, a dividend payout of Dh8 per share was announced by Daman, rising to Dh11 per share now distributed for quarter three.

So far during its 51 months of operation, the Daman UAE Value Fund has registered consistent growth for 45 months against the benchmark NBAD Index that has risen for only 38 months during this period.

The DUV Fund has registered a growth of 488.88 per cent since its inception in July 2001

Meanwhile, Daman's first risk managed fund, designed and tailored for the GCC markets, Arabian Programmed Trading Fund (APTF) Facet Arabia recorded a 1.55 per cent rise for September 2005.

The APTF's NAV rose to $118.39 (Dh435.08) on September 29, 2005 from $116.58 (Dh428.43) on August 25, 2005. The APTF, which was launched in February 2005, has so far registered a year-to-date growth of 18.39 per cent.

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