Daman Investments creates a tailor-made fixed maturity fund plan and raises $120 million for well-known GCC bank
Date
4/26/2022 3:22:02 AM
(MENAFN- Weber Shandwick) Dubai, UAE, 26April 2022 – Daman Investments has raised a USD 120 million fixed maturity plan as it expands across regional markets, creating a tailor-made fund for one of the GCC’s leading regional banks,
The tailored fixed maturity plancomes as Daman Investments significantly extends its reach across GCC countries and outside of its home market in the UAE by forging relationshipswith local and regional institutions and banks at various levels.
The fund followsa series of major successful mandates that Daman has securedfrom institutional investors.
Thisnew fixed maturity plan reflects the trust that institutional investors have in the Daman Investments asset management team experience in creating and managing tailor-made funds specifically structured to meet its clients’ precise requirements. The USD 120 million maturity plan is indicative of Daman Investment’s ability to create personalized funds and its expertise in delivering on multi-asset class emerging markets strategies.
Shadi Hittini, Head of Sales-Wealth Management at Daman Investments, said; “Longevity within a market is important but not in itself the key to maintaining a competitive edge or unlocking personalized opportunities for investors. What really matters is the ability to understand the nuanced dynamics of specific national and regional markets and then transfer that understanding into the creative development of funds that meet the needs of the individual. This new USD 120 million plan reflects our very different mindset: we understand that whilethe word ‘impossible’ exists in the dictionary, it has no relevance in the way we do business.”
Ali El Adou, Head of Asset Management at Daman Investments, said: Despite the challenging global macro-economic and geopolitical environment our products have shown resilience and have beenamong the top quartile interms of performanceamong their peers in respective asset classes. This is a testimony to the fact that we have a strong and experienced investment management team- well versed to manage and navigate the products through the vagariesof market cycles.
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