JS Investments Limited (JSIL) has announced a total payout of Rs 1,272.8 million for FY11 in selected open-end funds managed by the company. The payout in open-end funds includes the final payouts of Rs 1,087.2 million and interim dividend payouts of Rs 185.7 million announced during the year. This payout is in addition to the interim distribution of Rs 273.6 million announced earlier this year in closed-end funds managed by JS Investments.
The announcement was made by the Board of Directors of JSIL at a meeting held in Karachi on Wednesday, where the financial results for open-end funds were announced and the final distribution to the unit holders of selected funds was approved, a press release said.
The final distribution of Rs 4.50 was announced for JS Cash Fund, the money market fund offered by JS Investments, taking the total distribution for FY11 to Rs 11.00 per unit. A distribution of Rs 11.60 per unit was announced for JS Aggressive Income Fund, while a stock dividend of Rs 35.00 was announced for JS Large Cap Fund.
A distribution of Rs 42.10 per unit was announced for JS Islamic Fund, the first Shariah compliant open-end mutual fund in Pakistan. The distribution announced for JS Fund of Funds is Rs 16.00 per unit while a distribution of Rs 4.50 per unit was announced for Unit Trust of Pakistan.
In the capital protected funds category, a stock dividend of Rs 6.40 per unit was announced for JS Principal Secure Fund I, while a stock dividend of Rs 10.25 per unit was announced for JS Principal Secure Fund II. Commenting on the financial results of JS Investments, Rashid Mansur, CEO JSIL said, "I am extremely pleased to announce this year's financial results, which are a reflection of the determination of the management to create sustainable value for its investors. We, at JS Investments, take this opportunity to thank all our clients who have shown immense faith in us, and assure them of carrying the same level of commitment towards their investment needs, into the new financial year."
The bonus units will be allocated on the ex-distribution NAV. Unit holders, whose names appeared in the register of unit holders on June 30, 2011, will be entitled to the above distribution. Unit holders who have opted for cash payout will receive cash payment accordingly.-PR
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