The paths of these two stars have intersected on several occasions due to their association with the luxury brand Bulgari
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The company on Sunday announced the performance results of its Daman Second Emirates Fund, Daman Islamic Fund, the Daman Speculator Fund, and the Daman Fifth Fund for the month of July 2010.
The Daman Second Emirates Fund, a UAE-registered open-ended fund regulated by the UAE Central Bank and focused on UAE equity markets, is the top performing Daman fund to date as of July 2010.
While it has decreased by -2.75 per cent for the year, the NBAD General Index which is off around -6 per cent year-to-date in 2010.
Given the continued strong performance the fund declared a second quarter dividend of Dh0.50 per unit, bringing up the fund’s total dividend to Dh14 since its inception.
This is the second consecutive quarter the fund has paid out a dividend and the dividend yield for the fund as of 2010 stands at an annualised 2.84 per cent.
The Daman Islamic Fund, a Shariah principle-based, UAE-registered open-ended mutual fund, continues to beat its benchmark by a wide margin as of year to date July 2010.
The fund was down by four per cent whilst the NBAD Islamic index was down by 9.5 per cent.
The fund declared a second quarter dividend of Dh0.50 per unit, giving it an annualised dividend yield of 2.97 per cent.
The Daman Speculator Fund, launched in July 1, 2008, also beat its benchmark index as of year to date end of July 2010.
The fund was down by 8.03 per cent, outperforming its benchmark ESCA index which is down by 10.63 per cent.
Moreover, since its inception in 2008 the fund has recorded a decline of 6.03 per cent against the ESCA index which is down by 58.73 per cent. The fund’s annualised dividend yield year to date stands at 1.10 per cent.
The Daman Fifth Fund, a Dh200 million closed-ended fund focused on investments within Gulf Cooperation Council markets, concluded the month of July at a NAV of Dh97.59, relatively flat with a modest decline of 0.06 per cent as compared to June 2010 figures.
The fund’s performance since its inception in April 2010 now stands at -2.41 per cent.
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