The Daman Second Emirates Fund, a UAE-registered open-ended fund focussed on the UAE equities markets, recorded an annualised dividend yield of 3.39 per cent for 2008. 

The fund, regulated by the UAE Central Bank with an initial offered unit price of Dh100 ($27.2) and a targeted size of Dh200 million, closed July at a net asset value (NAV) of Dh118.01 per unit.

A statement from Daman Investments, a Dubai-based private joint stock company, said the fund has made total dividend payouts of Dh5 per unit since inception and the annualised dividend yield for 2008 presently stands at 3.39 per cent.

"For the month, the fund recorded a decline of 1.03 per cent, as against the NBAD General Index rise of 0.37 per cent.-TradeArabia News Service