KARACHI: Al Meezan Investment Management Limited (Al Meezan) is pleased to announce interim dividend payout for Meezan Islamic Income Fund (MIIF) @ Rs. 2.00 per unit, Meezan Cash Fund (MCF) @ Rs. 0.40 per unit and Meezan Sovereign Fund (MSF) @ Rs. 1.30 per unit. The details of the dividend announcement for the period ended March 20, 2012 are as follows:
|
Fund |
Dividend (Rs.) per unit |
% of par value of Rs. 50/- |
Total return % (July 01, 2011-March 19, 2012) |
|
Meezan Islamic Income Fund (MIIF) |
2.00 |
4.00% |
5.59% |
|
Meezan Cash Fund (MCF) |
0.40 |
0.80% |
11.29% |
|
Meezan Sovereign Fund (MSF) |
1.30 |
2.60% |
11.75% |
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 MIIF as at March 20, 2012 will get 3.9912 additional units at the ex-dividend NAV of Rs. 50.11 while an Income Unit holder will get Cash Dividend of Rs. 2.00 per unit.
A Growth Unit holder having 100 units of MCF as at March 20, 2012 will get 0.7998 additional units at the ex-dividend NAV of Rs. 50.01 while an Income Unit holder will get Cash Dividend of Rs. 0.40 per unit.
A Growth Unit holder having 100 units of MSF as at March 20, 2012 will get 2.5912 additional units at the ex-dividend NAV of Rs. 50.17 while an Income Unit holder will get Cash Dividend of Rs.1.30 per unit.
Meezan Islamic Income Fund (MIIF) is the first Shariah compliant open-end income fund in Pakistan. At the close of the period March 20, 2012, the net assets of MIIF were Rs. 1,284 million.
Meezan Cash Fund (MCF) is the largest Shariah compliant open-end money market fund in Pakistan. At the close of the period March 20, 2012, the net assets of MCF were Rs. 7,703 million.
Meezan Sovereign Fund (MSF) is the largest Shariah compliant open-end government securities fund in Pakistan. At the close of the period March 20, 2012, the net assets of MSF were Rs. 19,918 million.
Al Meezan is one of the leading asset management companies in the private sector in Pakistan with a track record of over 16 years and assets under management of over Rs.37 billion. Al Meezan has got Management Quality Rating of "AM2" assigned by JCR-VIS, which denotes high management quality rating. Al Meezan offers a complete range of investment solutions to meet the varying investment needs of its investors which exceed 20,000 clients including over 350 institutional investors.
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