Dubai-based investment firm launched its $54 million fund

Daman Investments, a private sector UAE-based investment management firm, announced the launch of the Daman Fifth Fund which is a $54 million closed-ended fund.

According to the firm, the Daman Fifth Fund is a new mutual fund that will focus on blue-chip equities listed on the GCC financial exchanges, debt products and commodities, and targets an Internal rate of Return of 25% per year.

Daman Investments is listed in the Middle East Investors Directory with the code OR15.

Their full release follows