UBL Fund Managers Limited announced record bonus units for its Fixed Investment Fund series comprising of United Money Market Fund (UMF) and United Growth and Income Fund (UGIF) respectively.
This decision was taken by the Board of Directors of UBLFM in their meeting held on July 8, which also approved audited financial statements for the year ended June 30, 2006 for both its Funds.
For United Money Market Fund, unit holders will get 10 bonus units for each 100 units they held as on June 30, 2006. This payout in shape of bonus units represents over 100 percent in terms of profits earned during July 2005 to June 2006. UMF has a fund safety ranking of A+ from JCR-VIS Credit Rating Agency.
UMF was the first fund in Pakistan to offer no sales load facility to its unit holders. It is one of the largest short-term fixed income funds. The Fund is ideal for those who want to park excess funds for few day's, a week or more.
United Growth and Income Fund, launched in March 2006, has also shown fantastic results with a bonus payout of 9.25 bonus units for 100 units hold on June 30, 2006.
UBL Fund Managers is a wholly owned subsidiary of United Bank Limited-one of the largest Banks operating in Pakistan and overseas for over forty-six years.
UBLFM has been assigned a Management Quality Rating of AM3 by JCR-VIS Credit Rating Agency; which signifies a team of qualified personnel and the management initiatives to streamline operations.
UBLFM is also in final stages of launching its first open-end equity fund ie United Stock Advantage Fund (USF). The IPO for this Fund is expected in the third week of July 2006.-PR
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