Arif Habib Investments (AHIM) with funds under management of Rs 22.6 billion as of June 30, 2007 announced bonus distribution for their open-end funds including Pakistan Stock Market Fund, Pakistan International Element Islamic Fund, Pakistan Capital Market Fund, Pakistan Income Fund and MetroBank Pakistan Sovereign Fund.
According to a press release issued here on Thursday, the Pakistan Stock Market Fund's (PSM) Net Asset Value per unit has grown from Rs 84.29 to Rs 109.08 over the FY07, a total return of 29.41 percent. Net assets as of June 30, 2007 are Rs 3.25 billion. PSM announced a bonus distribution of Rs 25 per unit, which is 29.66 percent of the opening NAV for FY07.
The Pakistan Capital Market Fund's (PCM) Net Asset Value per unit has grown from Rs 11.53 to Rs 14.59 over the FY07, a total return of 26.54 percent. Net assets as of June 30, 2007 are Rs 1.08 billion. PCM announced a bonus distribution of Rs 25 per unit, which is 26.02 percent or the opening NAV for FY07.
The Pakistan International Element Islamic Fund's (PIIF) Net Asset Value per unit has grown from Rs 47.73 to Rs 58.89 over the FY07, a total return of 23.38 percent. Net assets as of June 30, 2007 are 1.07 billion. PIIF announced a bonus distribution of Rs 8.75 per unit, which is 18.33 percent of the opening NAV for FY07.
The Pakistan Income Fund's (PIF) Net Asset Value per unit has grown from Rs 50.11 to Rs 55.47 over the FY07, an annualised return of 10.70 percent. Net assets as of June 30, 2007 are Rs 9.41 billion. PIF announced a bonus distribution of Rs 5.25 per unit, which is 10.48 percent of the opening NAV for FY07.
A total return for the MetroBank Pakistan Sovereign Fund series was 8.60 percent for MSF (12/12), 8.67 percent for MSF (12/07) and 9.06 percent for MSF (perpetual). The bonus distribution for the MSF series is Rs 2.63 per unit for MSF (12/12), Rs 3.97 per unit for MSF (12/07) and Rs 1.79 per unit for MSF (perpetual) which is 5.10 percent, 7.93 percent and 3.99 percent respectively on the basis of the NAVs at the beginning of the financial year.
Individual benchmarks are in the process of being established for each fund. Future reporting shall include comparison with the benchmarks. In the mean while, for the benefit of public information, it may be mentioned that the KSE-100 share index delivered a total return of 37.87 percent for the financial year, the Dow Jones International Islamic Index delivered 23.67 percent for the same period and the average Six-month KIBOR for the period was 10.36 percent.
AHIM has recently launched the Pakistan Pension Fund under the Voluntary Pension System (VPS) and is one of four fund managers given permission to manage funds of the VPS. With the advent of the new financial year, the company has also launched the first of its Capital Protected series of closed-end funds. This fund has an element of international investment too.-PR
Comments
Comments are closed.