Daman Investments has been mandated a sharia compliant fund with an Assets Under Management (AUM) of USD 105 Million (AED 400 Million) from a UAE-based financial institution. The name of the client was not disclosed for confidentiality reasons. Daman said that the team’s ability to tailor the structure around client’s guidelines and expectations with a unique proposition was the key factor. This transaction adds to the sequence of key successful relationships that Daman has been building with local and regional Institutions and Banks at various levels.
Commenting on the announcement, Ali El Adou, Head of Asset Management at Daman Investments, said: “Winning this mandate reflects the recognition and the trust of institutional investors in the asset management team’s track record and experience in managing multi-asset class emerging markets strategies.”
Speaking about customer’s sentiments, Khalid Zuroub, Head of Institutional Business at Daman Investments, said: “At Daman Investments, we offer highly bespoke solutions to institutional clients while maintaining the agility to manifest the end product with client’s desideratum. A mandate of this size is the proof of clients’ trust in our structuring as well as execution capabilities. We are looking to offering more tailored solutions this year which will help bring efficiency in the institutional coverage and deliver superior value to the clients that we closely work with.”
