Daman plans overseas fund launch

UAE-based Daman Investments has announced plans to launch a number of new overseas funds designed to give GCC-based investors the “protections of more robust regulatory regimes outside the UAE”.

The fund range, which will be managed by Daman Investments, is expected to launch “early in the New Year” says Daman and will replace its existing fund range.

Daman claims that the move will give greater transparency and an independent oversight function to meet the expectations of individual and institutional investors interested in the Mena region.

“We are very aware of the regional markets’ thirst for better governance and we have witnessed a quantum shift in this direction over recent years,” said Ahemd Khizer Khan, CEO of Daman Investments.

Daman expects its current funds will be wound down before the end of the year, namely its Daman Islamic Fund, Daman Speculator Fund, Daman Second Fund and Daman Fifth Emirates Funds.

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