Daman Asset Management

Sponsors

HBME and Daman are the Sponsors of the Trust and as such will each subscribe for and retain Units having an aggregate value equal to the lower of (a) US$20,000,000 or (b) 10% of the total commitments to the Trust.

Daman is a UAE- and GCC-focused financial services group established by Shehab Gargash and a group of prominent UAE Nationals in 2001.

The Daman group's business practices include asset management, brokerage, private equity, corporate finance and financial advisory services. Daman is the Manager of the Daman UAE Value Fund, a highly successful UAE-focused mutual fund launched in 2001, as well as the Arabian Programmed Trading Fund, which was launched in 2004. The asset management practice also has significant assets under management in its discretionary portfolio management practice area. In 2004, Daman launched a UAE brokerage operation, which serves the Dubai Financial Market and Abu Dhabi Securities Market. Daman has also announced the launch of a brokerage in the Dubai International Financial Exchange, which is the exchange housed in the Dubai International Financial Centre.

Daman’s private equity and corporate finance practice area includes the Daman Iraq Fund, which was launched in 2003 and Daman Real Estate Capital Partners Limited, which is a special-purpose company that is developing the US$450 million "Buildings By Daman" project at the Dubai International Financial Centre (“DIFC”).

For further information on Daman Asset Management please visit their website:

www.daman.ae