Daman Islamic Fund Report - July 2017

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1. Monthly Fact Sheet - July 27 , 2017 Market Commentary Fund Objective • To achieve a combination of capital growth and dividend income. • To achieve annual performance growth rate of 1215% p.a. • To distribute quarterly dividends based on performance. NAV per Unit (AED) 75.80 Month to Date % Dividends till Date (AED) Returns Since Inception % Returns Since Inception % (Including Div) Dividend Yield 3.15% 49.63 -56.70% -49.83% NA DAMNISL UH LP65122945 May Jun Jul Aug Sep Oct Nov Dec Full Year 2013 5.64% 0.64% -5.56% 10.88% 10.52% -2.62% 7.29% -6.22% 4.29% 5.48% -1.20% 9.86% 43.95% 2014 12.86% 5.19% 5.01% 17.42% 2.23% -18.22% 3.57% 5.47% -1.68% -7.20% -2.58% -8.69% 8.49% 2015 -6.58% 5.59% -4.65% 15.94% -4.19% -7.48% 0.77% -10.61% -0.64% -5.22% -7.02% -1.72% -25.07% 2016 -3.39% 7.40% 2.47% 2.76% -5.12% 0.51% 1.86% 1.04% -0.27% -3.18% -0.14% 2.32% 5.79% 2017 0.51% -1.79% -6.04% -2.28% -4.21% -0.16% 3.15% Top Holdings 2017 YTD Performance 3% 0% -3% -5% -8% -10% -13% -15% -18% -20% -10.59% Fund Allocation Cash 21.2% 31-Jul-17 Bloomberg Thomson Reuters Apr 30-Jun-17 0.20% p.a. & 0.30% p.a. respectively, of NAV Mar 31-May-17 Administration & Custody Fee Feb 30-Apr-17 1.50% p.a. of the Funds NAV Jan 31-Mar-17 Management Fee Year 28-Feb-17 June 1, 2007 Sharia Based, Open Ended UAE Focused Weekly Monthly Daman Investments PSC Daman Assets LLC Ali Al Aidarous UAE Central Bank Dahman & Co. RSM 2% of the value of the subscription amount 15% above Hurdle Rate of 10% p.a. 31-Jan-17 Inception Date Type Subscriptions Redemptions Fund Manager Administrator Legal Advisors Regulator Auditors Subscription Fee Performance Fee 31-Dec-16 FUND INFORMATION Email: amc@daman.ae Call: +971-4-4080333 Fax: +971-4-3324240 GCC equity markets closed mostly in positive territory for the period 6th July 2017 – 27th July 2017 as markets reacted positively to Q2 earnings results and a surge in oil prices. As a result, the Dubai Financial Market General Index (DFMGI) soared 6.03%, the Abu Dhabi Securities Market General Index (ADX) climbed 3.91%, the Saudi Tadawul Index (TASI) was down 0.40%, whilst the Qatar Exchange Index (DSM) jumped up 7.18%. The MSCI GCC Countries Index was up 2.49% during this period. Oil prices rallied during this period with WTI crude oil closing at $49.04, up 7.73% and Brent crude oil closing at $51.49, up 7.03%. This surge in prices came as a reaction to the news that U.S. crude inventories had declined much more than the expected decrease and that Saudi Arabia was planning to cut oil exports by another 1m barrels. Moody's maintained the UAE’s credit rating at ‘Aa2’, while upgrading its outlook to ‘Stable’ from ‘Negative’. Non-oil growth in particular was expected to increase by 3.3% in 2017, up 0.7% from 2016, due to a surge in domestic public investment and an upswing in global trade. We believe the month of August 2017 will likely witness a continuation of lackluster trading activity as the summer vacations make their mark on traded volumes. However, we do expect sporadic bouts of uptick in volumes as stocks announce their Q2 interim results. We continue to favor high beta stocks in the GCC markets and we will position ourselves accordingly to take advantage of such opportunities. ETISALAT DEYAAR GFH 17.2% 14.8% 9.7% Capital Goods 3.5% Diversified Financials 25.9% Cash 21.2% Non UAE 7.3% Insurance 3.2% Banks 7.3% Real Estate 21.7% Telecom 17.2% UAE 71.5%