MSF, MCF and MIIF: Al Meezan announces interim dividend

Al Meezan Investment Management Limited (Al Meezan) is pleased to announce the second interim dividends for its three fixed income funds: Meezan Sovereign Fund (MSF) - Rs 0.65per unit, Meezan Cash Fund (MCF) - Rs 1.25 per unit and Meezan Islamic Income Fund (MIIF) - Rs 1 per unit.
The payouts are in the form of Bonus Units to the Growth Unit holders and Cash Dividend to the Income Unit holders. A Growth Unit holder having 100 units of MSF as at December 30, 2010 will get 1.2813 additional units at the ex-div. NAV of Rs 50.73 while an Income Unit holder will get Cash Dividend of Rs 0.65 per unit.
A Growth Unit holder having 100 units of MCF as at December 30, 2010 will get 2.498 additional units at the ex-div. NAV of Rs 50.04 while an Income Unit holder will get Cash Dividend of Rs 1.25 per unit. A Growth Unit holder having 100 units of MIIF as at December 30, 2010 will get 1.9861 additional units at the ex-div. NAV of Rs 50.35 while an Income Unit holder will get Cash Dividend of Rs 1 per unit.
Meezan Sovereign Fund (MSF) is the first Shariah compliant open end government securities fund in Pakistan. The annualised return for half year ended December 31, 2010 was 10.76%. At the close of half year, the net assets of MSF were Rs 8,399 million. Meezan Cash Fund (MCF) is the first Shariah compliant open end money market fund in Pakistan. The annualised return for half year ended December 31, 2010 was 10.61%. At the close of half year, the net assets of MCF were Rs 6,305 million.
Meezan Islamic Income Fund (MIIF) is the first and the largest Shariah compliant open end income fund in Pakistan. The annualised return for half year ended December 31, 2010 was 8.73%. At the close of half year, the net assets of MIIF were Rs 3,029 million.
Al Meezan Investments is the largest private sector asset management company in Pakistan, with AM2 Management Quality Rating. It has over Rs 25 billion assets under management. Due to its prudent fund management, Al Meezan Investments has not only been able to retain its existing investors but also managed to increase the investor base. This success is reflective of the confidence and trust of both individual and institutional investors.

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Fund                             Dividend      % of par value

                                (Rs) per unit      of Rs 50/-

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Meezan Sovereign Fund (MSF)            0.65             1.30%

Meezan Cash Fund (MCF)                 1.25             2.50%

Meezan Islamic Income Fund (MIIF)      1.00             2.00%

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