Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (374)	9/10/2005 5:18:09 AM
From: elmatador	Respond to of 217701

NBAD manages over Dh6b investments - UAE Daman's UAE Value Fund growth touches 68.78pc National Bank of Abu Dhabi (NBAD) now manages over Dh6 billion of client investments across its three funds. It has over four years experience since pioneering the concept of locally-based mutual funds in October 2000. "NBAD's suite of three local mutual funds have delivered excellent returns to investors," said Richard J Amos, general manager, Investment Banking of the National Bank of Abu Dhabi. He explained, "We have three funds to cater for different investor appetites and requirements. A Trading Fund, which takes advantage of short-term buying and selling opportunities in the marketplace, a Growth Fund focussed on longer term growth prospects for the UAE economy, and an Islamic Fund where all investments are filtered for Sharia principles and approved by a recognised Islamic Scholar." "Our Growth Fund, launched in October 2000 has delivered returns in excess of 500 per cent since inception. We complemented this with the launch of our Trading Fund in January 2004 and the Islamic fund in January 2005," he added. "In the first quarter of this year, the Trading Fund and Growth Fund delivered very attractive returns to our investors of 42 per cent and 49 per cent respectively," he maintained. "Since the lst of April, this spectacular growth has continued with the Trading Fund delivering another 60 per cent and the Islamic Fund 74 per cent. We believe that our Trading and Islamic funds are the two top performing mutual funds in the UAE," he opined. "The funds attract large amounts of investment. As the prospects for the UAE economy and the UAE markets continue to look attractive, we believe that the growth in our assets under management and the performance that we deliver to our clients will continue to grow,' Amos concluded. Daman's UAE Value Fund growth touches 68.78pc BY A STAFF REPORTER 13 August 2005 DUBAI — The Daman UAE Value Fund (DUV) has achieved a year-to-date growth of 68.78 per cent despite a severe downturn in the markets during the month of July. In July, the DFM Index fell 24 per cent since hitting a peak of 1,131 points on June 27. During the same period the Abu Dhabi market has fallen 22 per cent since its June 19 peak of 6,091 points. In contrast, the Daman UAE Value Fund's ex-dividend NAV stood at Dh422.03 on August 1, 2005 against Dh517.47 on July 1, 2005, an 18.44 per cent drop in value. The relative limitation of the drop in the fund's NAV comes pursuant to a more conservative and prudent approach to the market that the fund's managers have adopted following an unparalleled period of rapid growth over the past three and a half years. During the first quarter, Daman UAE Value Fund paid a solid Dh6 per share dividend. The second quarter performance was even better when a record dividend of Dh8 per share was announced, marking an annualised dividend yield of 6.63 per cent ytd in 2005. The Daman UAE Value Fund has paid investors dividends amounting to Dh53 per share since its inception. Meanwhile, Daman's first alternate fund, designed and tailored for the GCC market, the Arabian Programmed Trading Fund (APTF) launched in February 2005, yielded a negative return of — 7.82 per cent for July 2005 compared to the benchmark GIC Composite Index which registered a negative growth of — 8.46 per cent during this period. The NAV of APTF stood at US$106.68 on July 28, 2005, against a NAV of US$115.73 on June 23, 2005. The year-to-date growth for this fund currently stands at 6.68 per cent. Daman UAE Value Fund is a closed-end, offshore mutual fund focused on the UAE stock market. It was launched on 1st July 2001 with shares valued at a par value of Dh100. The Fund commissions an independent audit of its Net Asset Value (NAV) at the end of each month, and releases monthly NAV statements. The Fund has announced dividends totaling Dh53 per share since inception, the most recent being Dh8.00 per share for the second quarter of 2005. Daman UAE Value Fund is a Mauritius-registered public company. The fund's governance structure is designed to ensure maximum transparency and accountability to shareholders. On the other hand, Arabian Programmed Trading Fund (APTF) Facet Arabia was launched in February 2005. This is the first computer model aided stock analysis fund, launched in conjunction with Facet Funds plc, an offshore funds platform regulated by Cayman Islands Monetary Authority and Commander Asset Management Ltd, authorised and regulated by the UK's Financial Services Authority (FSA). The fund is specifically designed with the ability to hold shares (equity) or cash. Individual positions are sold when conditions dictate and cash is held until a reinvestment opportunity arises in that particular stock. Currently the portfolio consists of 72 stocks from GCC, out of 450+ that have been evaluated. Minimum investment in this Fund is US$1 million. Redemptions will be quarterly. Business section of the Khaleejtimes khaleejtimes.com