Daman funds continue to yield strong dividends

Dubai: Daman Investments said it has announced record second quarter fund dividends despite volatile market conditions.

The flagship Daman Second Emirates Fund, which is focused on the UAE market, upheld its long-standing reputation for having the longest record of distributing quarterly dividends in the market, by paying its 22nd consecutive quarterly dividend, the firm said in a statement.

The GCC-focused Daman Fifth Fund, the top performing alternative mutual fund globally as ranked by Preqin, continued to outperform regional markets and peers by posting a 54 per cent increase in performance during the first half of 2015, which comes on the back of an impressive 232 per cent increase in 2014. By comparison, the Dubai Financial Market and Abu Dhabi Securities Market rose 8.29% and 4.29% over the same six-month period respectively,