The Management Company of KASB Funds Limited is pleased to announce the first-interim dividend for this financial year. The Board of Directors of the Management Company held a meeting on October 23, to finalise the dividend distribution. The Board has declared the first interim dividend amount of PKR 3.50 per unit (Par PKR 100) for KASB Islamic Income Fund (KIIF) and PKR 1.50 per unit (Par PKR 100) for KASB Cash Fund (KCF).
During the interim period, KASB Islamic Income Fund yielded a return of 11.90 percent per annum and has consistently remained a top performing fund in its category. While KASB Cash Fund which was launched in August 2009, yielded an annualised return of 8.99 percent for the same period. KASB Cash Fund is an open ended fund with a high stability rating of AA+(f) Double A Plus by JCR-VIS.
The dividend declared will be paid to the Unit Holders in form of cash and/or bonus units, in accordance with the mode of receipt of dividend opted by the respective Unit Holders of KASB Islamic Income Fund and KASB Cash Fund. The Unit Holders whose names appeared in the register of Unit Holders of KIIF and KCF at the close of business on October 22, 2009 shall be entitled to the above Interim Dividend.
Along with KIIF and KCF, KASB Funds also manages KASB Liquid Fund, KASB Balanced Fund and KASB Stock Market Fund with total assets under management of over PKR 3 billion as at September 30, 2009. KASB Funds has been assigned a strong asset management rating of AM3+ by JCR-VIS. The rating highlights company's propensity to meet high industry benchmarks by managing the risk associated with the assets under management.-PR
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