The Board of Directors of Faysal Asset Management Limited (FAML) has announced an interim cash/bonus dividend of Rs 3.20 per unit (3.20 percent of the par value of Rs 100) for half year ended December 31, 2008 for Faysal Income and Growth Fund (FIGF); and Rs 3.20 per unit (3.20 percent of the par value of Rs 1001-) for Faysal Savings Growth Fund (FSGF).
According to a press release issued here on Monday the Faysal Savings Growth Fund Portfolio on December 31, 2008 was as bank deposits 78.71 percent, commercial papers 6.95 percent, TFCs 6.36 percent, equities 2.89 percent and others 5.09 percent.
The Faysal Income Growth Fund Portfolio on December 31, 2008 was as bank deposits 94.85 percent, commercial papers 1.81 percent, others 3.34 percent. Faysal Asset Management Limited maintained its strong dividend paying history by announcing Rs 3.20 per unit to its unit holders of FIGF as well as FSGF.
FSGF maintained its outperforming track record and yielded 12.60 percent for the half year ahead by over 800 bps to the second best money market fund in the industry.
FSGF maintained a strong credit quality portfolio minimising interest rate risk as well as liquidity and duration risk. FSGF is rated A (f) while FIGF maintained one of the highest credit quality ratings in the open-ended income funds of A+(f) assigned by JCR-VIS.
Faysal Asset Management Ltd is a leading asset management company with the support & collective wisdom of large international financial institutions like Islamic investment Company of the Gulf and Faysal Bank Ltd. Salman H Sheikh, CEO of Faysal Asset Management Limited, stated that in the current global and local financial crises, FAML has proven their continued strength and growth due to its risk-averse prudent investment management strategies.-PR