Daman Investments PSC, the leading Dubai-based investment management company, has announced the performance results of its highly subscribed funds, the Daman Speculator Fund, the Daman Second Emirates Fund, and the Daman Islamic Fund, for  November 2008.

The newest Daman offering, the Daman Speculator Fund launched in July 1, 2008, has presented a noteworthy performance in comparison with today's volatile markets, posting a positive monthly gain.

The Daman Speculator Fund closed the month at a Net Asset Value (NAV) of Dhs103.97 per unit as of November 30th, 2008, recording a rise of 0.02% from October. Sustaining a steady growth during turbulent financial times and focused on highly liquid securities, the Daman Speculator Fund invests in high beta securities through risk adjusted framework aimed towards rapid capital appreciation.

Since its inception in July 2008, the Daman Speculator fund has outperformed the index month on month in contrast to the market and has posted a positive total performance of 4.97% and paid its maiden dividend of Dhs1.00 per share in September, 2008. The Fund has achieved an annualized dividend yield of 4.61%.

The Daman Second Emirates Fund, a UAE-registered open-ended fund regulated by the United Arab Emirates Central Bank and focused on the UAE equity markets, closed the month of November at a Net Asset Value (NAV) of Dhs54.01 per unit.

For November, the Fund recorded a decline of 22.69%, as against the NBAD General Index drop of 22.05%. Since inception, the Fund has paid a total dividend of Dhs5.00 and its annualized dividend yield currently stands at 7.40%. This figure outperforms the year to date NBAD General Index yield of 3.67%.

The Daman Islamic Fund, a Shari'ah principle based, UAE-registered open-ended mutual fund closed November at a Net Asset Value (NAV) of Dhs49.24 per unit as of November 30, 2008, posting a month to date decline of 21.61%. While recording a decline at its close for November, the fund performed favorably compared to the NBAD Islamic Index drop of 25.03% for the corresponding period.

The Fund has declared total dividends of Dhs3.75 since inception, and has reported an annualized dividend yield of 8.12% for 2008, well over the Islamic Index yield of 1.13% for 2008.