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Dubai: Daman Investments, a UAE-based fund manager on Saturday announced strong performance by three of its funds - the Daman Second Emirates Fund, the Daman Islamic Fund and the Arabian Programmed Trading Fund.
The Daman Second Emirates Fund, an open-ended fund, closed last month at a NAV of Dh127.98 per unit, reflecting a healthy monthly gain of 7.32 per cent over the previous month.
With markets exhibiting a positive tone throughout April, the fund took advantage of its cash position as well as its existing low cost entries to enhance the value and match the market index's monthly performance.
The Daman Islamic Fund closed last month at a NAV of Dh 111.787 per unit, a gain of 2.5 per cent over the previous month.
The fund maintained its cautious approach given the unique makeup of the Islamic investment universe but actively participated in order to benefit from the month's rally.
Daman's first risk managed fund, the Arabian Programmed Trading Fund designed for Gulf markets also showed a gain of 3.25 per cent for the month.
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