Dubai-based asset manager Daman Investments has raised US$120 million from a fixed maturity plan in order to launch a bespoke fund for an unnamed GCC bank.
The move is part of Daman’s plan to expand across the region and outside of the UAE.
According to Daman, the capital commitments are indicative of the firm’s ability to develop personalised funds based on multi-asset emerging markets strategies.
This latest fund mandate comes two months after Daman was chosen by another unnamed UAE institution for a shariah-compliant fixed income strategy.
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