JS ABAMCO Limited, formerly ABAMCO Limited, has announced dividend payouts for eight of its open-end funds for the fiscal year ending June 30.
In a meeting held on July 7, the board of directors of JS ABAMCO Limited approved stock dividends of Rs 2,010.70 per unit for unit trust of Pakistan (27.50 percent on the opening of NAV of Rs 7,311.62); Rs 53.30 per unit for UTP-Income Fund (10.50 percent on the opening NAV of Rs 507.60); Rs 148.63 per unit for UTP-Islamic Fund (25 percent on the opening NAV of Rs 594.53); Rs 13.36 per unit for UTP-Aggressive Asset Allocation Fund (24.5 percent on the opening NAV of Rs 54.55); Rs 7.55 per unit for UTP-Fund of Funds (15.00 percent on the opening NAV of Rs 50.32); Rs 4.50 per unit for UTP-CPF (4.50 percent on the opening NAV of Rs 100) and Rs 0.20 per unit for UTP-CPF II (0.20 percent on the opening NAV of Rs 100).
The board of directors also approved cash dividend of rupees five per unit for UTP-A30+ Fund. This is in addition to interim cash dividend of Rs 7.50 per unit already paid in February. This makes the total dividend of Rs 12.50 per unit, which translate into 25 percent of the opening NAV.
The JS ABAMCO Limited has an asset manager rating of "AM2+", which is the highest rating ever received by any asset manager in Pakistan and reflects its leadership and strength in the asset management sector. Moreover, PACRA has assigned 5-star ratings for superior performance to all eligible open-end funds; eligibility for ratings includes one full year of operations. The JS ABAMCO Limited, in a press release issued here on Saturday, said that its open-end funds had done remarkably well during the 2006-07 fiscal year and it had announced an overall dividend of Rs 2,103 million for its open-end funds.
UTP-A30+ fund posted a total return of 37.95 percent during the year and outperformed the KSE-100 index, which posted a return of 37.87 percent. UTP-ISF posted a return of 22.29 percent for the year, outperforming Dow Jones JS Pakistan Islamic Index by 5.13 percent, which returned 17.16 percent over the same period. UTP provided a return of 28.28 percent, while UTP-AAA posted a return of 27.08 percent for the year. UTP-IF provided a dividend of 10.50 percent on the opening NAV of Rs 507.60 while the average six-month KIBOR for the year was 10.36 percent.
The JS ABAMCO once again proved its commitment to product innovation with the launch of a series of open-ended capital protected funds this year for the first time in Pakistan. Two of these funds have been launched successfully, while the third fund of the series is expected to be available for subscription soon. The company also launched JS Pension Savings Fund recently in collaboration with Standard Chartered Bank (Pakistan) Limited and EFU Life Assurance Limited to bring a unique one stop retirement solution which takes care of all of the retirement needs through a single product.-PR
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