The meeting of the Board of Directors of Al Meezan Investment Management Limited (Al Meezan), the Asset Management company of Meezan Balanced Fund (MBF), Meezan Islamic Fund (MIF), Al Meezan Mutual Fund (AMMF), Meezan Islamic Income Fund (MIIF), Meezan Cash Fund (MCF), Meezan Sovereign Fund (MSF), Meezan Capital Protected Fund-II (MCPF-II) and KSE Meezan Index Fund (KMIF) was held on Friday, September 21, 2012 to approve financial results for the year ended June 30, 2012.
MBF Dividend Payout- FY 2012 Meezan Balanced Fund (MBF) is the largest and only Shariah compliant closed-end balanced scheme in Pakistan. MBF announced a final cash dividend @ 19% ie Rs 1.90 per certificate of Rs 10/ each for the year ended June 30, 2012. Al Meezan has announced total dividend of Rs 228 million as cash dividend in MBF. During the period ended June 30, 2012, MBF earned a net income of Rs 254 million. At the close of the FY 12, the net assets of the fund were Rs 1,534 million. At present the net assets of the fund are Rs 1,656 million.
MCF & MSF Interim Dividend Payout- FY 2012-2013 Al Meezan is also pleased to announce interim dividend payout for Meezan Cash Fund (MCF) @ Rs 0.38 per unit and Meezan Sovereign Fund (MSF) @ Rs 1.30 per unit. The payouts are in the form of Bonus Units to the Growth Unit holders and Cash Dividend to the Income Unit holders. The details of the dividend announcement for the period ended September 20, 2012 are as follows: The details of the financial results approved for Meezan Family of Funds approved in the meeting held on September 21, 2012 is as following:
-- For the period May 18-June 30, 2012.
For the year ended June 30, 2012 the Board of Directors have already announced total dividend of Rs 3.85 billion in the form of cash and bonus for its family of funds. The detail of distribution announced in the meeting held July 09, 2012 is: Rs 888 million as bonus dividend in Meezan Islamic Fund (MIF), Rs 265 million as bonus dividend in Al Meezan Mutual Fund (AMMF), Rs 95 million as bonus dividend in Meezan Islamic Income Fund (MIIF), Rs 702 million as bonus dividend in Meezan Cash Fund (MCF), Rs 1,852 million as bonus dividend in Meezan Sovereign Fund (MSF), and Rs 49 million as bonus dividend in Meezan Capital Protected Fund-II (MCPF-II)
Al Meezan is among the leading asset management companies in the private sector in Pakistan with assets under management currently standing at over Rs 41 Bn. Al Meezan has been awarded 'Best Islamic Asset Management House in Pakistan' (Islamic Finance Awards) by Asset Triple A Awards, Hong Kong for excellence in the industry. Al Meezan has also been rated AM2 by JCR-VIS denoting High Quality Management. The company boasts of one of the largest investor base among asset management companies in Pakistan with over 21,000 investors, reflecting the trust and confidence of both individual and institutional investors.
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Total
Fund Dividend % of par return %
(Rs) value of (July 01,
per unit Rs 50/- 2012)
Sept 20,
2012)
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Meezan Cash Fund
(MCF)- 3rd Interim 0.38 0.76% 10.55%
Meezan Sovereign Fund
(MSF)- 1st Interim 1.19 2.38% 10.83%
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Fund Net Income/ Net
(loss) Assets
Period Ended June
June 30, 201 30, 2012
Rs (Mn.) Rs (Mn.)
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Meezan Sovereign Fund (MSF) 1,860 19,709
Meezan Cash Fund (MCF) 708 7,419
Meezan Islamic Fund (MIF) 1,015 5,343
Al Meezan Mutual Fund (AMMF) 315 1,681
Meezan Islamic Income Fund (MIIF) 91 1,209
Meezan Capital Protected Fund-II (MCPF-I 53 443
KSE Meezan Index Fund (KMIF)* (7) 289
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-PR
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