Following the Board meeting on July 3, 2008, UBL Fund Managers has announced a total payout of Rs 2,447.57 million for the year ended June 30, 2008 (including an interim payout during the year) - for all its open end funds. This distribution translates to 100% of the total distributable income of each fund for the mentioned period.
On the fixed income side, the Board has approved a distribution of Rs 3.0281 per unit for United Money Market Fund (UMF) and Rs 2.9794 per unit for the United Growth & Income Fund (UGIF). This is in addition to the interim dividend of Rs 6.1083 per unit (for UMF) and Rs 6.1988 per unit (for UGIF) declared in April 2008.
Despite the recent volatility in the market, the United Stock Advantage Fund (USF) has announced a distribution of Rs 3.01 per unit (3.01 units for every 100 units) for the year 2007-2008. As compared to its benchmark the KSE-100 Index, USF has managed to outperform the index by 6.66%.
The Shariah compliant funds managed by UBL Fund Managers has also performed reasonably well during this period. The Board has announced a healthy distributions of Rs 5.14 per unit (5.13 units for every 100 units) for UCIF and Rs 2.41 (2.40 units for every 100 units) for UIIF. The Company has already distributed Rs 3.44 per unit in the case of UIIF in April 2008. UBL Fund Managers is currently managing assets of over Rs 28 billion on behalf of investors across the nation and in UAE.-PR
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