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PICIC Asset Management Company Limited’s growth fund financial results for the year ended June 30, 2011

Karachi: We are pleased to inform you that the Board of Directors of PICIC Asset Management Company Limited (PICICAMC) in their 47th meeting held on September 09, 2011 at 12:00 a.m. at Karachi approved the audited financial statements of PICIC Growth Fund for the year ended June 30, 2011 and also approved the following:

 

1.  Cash Dividend Final cash dividend @ 25.5%(i.e. Rs 2.55 per certificate)
2. Bonus Certificate Nil
3. Right Certificate Nil

 

The financial results of PICIC Growth Fund for the year ended June 30, 2011 are enclosed as per Annexure – A and Annexure – B.

The final cash dividend for the financial year ended June 30, 2011, will be paid to the certificate-holders whose names will appear in the register of members of PICIC Growth Fund, at close of business on Thursday, September 29, 2011. The Certificate Transfer Register of PICIC Growth Fund will remain close from September 30, 2011 to October 6, 2011 (both clays inclusive) for determining the enticement of final, cash dividend. Transfers received by our Registrar: Noble Computer Services (Pvt.) Limited, Mezzanine Floor, House of Habib Building (Siddiqsons Tower) 3-Jinnah Cooperative Housing Society, Main Shahrah-e-Faisal Karachi-75350, at close of business on Thursday, September 29, 2011 will he treated in time for the purpose of payment of dividend to the transferees.

PICIC Growth Fund Income Statement for the Year Ended June 30, 2011        Annexure A

 

2011

2010

Rupees in ‘000

Income
Capital loss on sale of investments – net 850,844 903,509
Dividend income 460,178 244,075
Net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through profit or loss’

44,791 (480,082)
Profit on bank deposits 65,146 101,587
Other income  – 19
 ——— ———
Total Income 1,420,959 769,108
Operating Expenses
Remuneration of the Management Company 155,191 151,707
Remuneration of Central Depository Company of Pakistan – Trustee 5,255 5,168
Annual fee – Securities and Exchange Commission of Pakistan 7,372 7,206
Securities transaction costs 25,554 37,209
Auditors’ remuneration 575 563
Other expenses 4,379 4,303
 ——— ———
Total expenses 198,326 206,156
Net income from operating activities 1,222,633 562,952
Provision for Workers’ Welfare Fund (24,453) (11,259)
——— ———
Net income for the year before taxation 1,198,180 551,693
Taxation  –
 ——— ———
Net income for the year after taxation 1,198,180 551,693
 ——— ———
Earnings per certificate

Rupees

With net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through profit or loss’

 4.23 1.95
——— ———
Without net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through profit or loss

4.07  3.64

 

 

PICIC Asset Management Company Limited

PICIC Growth Fund Income Statement for the Year Ended June 30, 2011        Annexure B

 

2011 2010
Rupees in ‘000
Net income for the year after taxation 1,198,180 551,693
Other comprehensive (loss) / income for the year
Net unrealised (diminution) / appreciation on re-measurement of investments classified as ‘available for sale’ (23,745)  429,690
——— ———
Total comprehensive income for the year 1,174,435 981,383

 

 

We are pleased to inform you that the Board of Directors of PICIC Asset Management Company Limited in their 47th meeting held on September 09, 2011 at 12:00 a.m. at Karachi approved the audited financial statements of PICIC Investment Fund for the year ended June 30, 2011 and also approved the following:

 

1.  Cash Dividend. Final cash dividend @ 12.5% (i.e. Rs 1.25 per certificate)
2.  Bonus Certificate  Nil
3. Right Certificate Nil

 

The financial results of PICIC Investment Fund for the year ended June 30, 2011 are enclosed as per Annexure – A and Annexure – B.

The final cash dividend for the financial year ended June 30, 2011, will be paid to the certificate-holders whose names will appear in the register of members of PICIC Investment Fund, at close of business on Thursday, September 29, 2011. The Certificate Transfer Register of PICIC Investment Fund will remain close from September 30, 2011 to October 6, 2011 (both clays inclusive) for determining the enticement of final, cash dividend. Transfers received by our Registrar: Noble Computer Services (Pvt.) Limited, Mezzanine Floor, House of Habib Building (Siddiqsons Tower) 3-Jinnah Cooperative Housing Society, Main Shahrah-e-Faisal Karachi-75350, at close of business on Thursday, September 29, 2011 will he treated in time for the purpose of payment of dividend to the transferees.

PICIC Investment Fund Income Statement for the Year Ended June 30, 2011   Annexure A

 

2011 2010
 Rupees in ‘000
Income
Capital gain on sale of investments – net 456,945 486,850
Dividend income 216,046 126,913
Net unrealised diminution on re-measurement of investments classified

as financial assets ‘at fair value through profit or loss’

 (389) (269,243)
Profit on bank deposits  36,871 58,058
Other income 8
 ——- ——-
Total income 709,473  402,586
Expenses
Remuneration of the Management Company 71,887 71,816
Remuneration of Central Depository Company of Pakistan – Trustee  3,032 3,029
Annual fee – Securities and Exchange Commission of Pakistan 3,415 3,411
Securities transaction costs 13,767  20,851
Auditors’ remuneration 554 543
Other expenses  4,783  3,895
 ——- ——-
Total expenses  97,438 103,545
Net income from operating activities  612,035 299,041
Provision for Workers’ Welfare Fund 12,241 5,981
 ——- ——-
Net income for the year before taxation 599,794 293,060
Taxation
 ——- ——-
Net income for the year after taxation 599,794 293,060
——- ——-
Earnings per certificate

Rupees

With net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through

profit or loss’

2.11 1.03
——-  ——-
Without net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through

profit or loss’

2.11 1.98

 

 

PICIC Investment Fund Income Statement for the Year Ended June 30, 2011      Annexure B

 

2011

2010

Rupees in ‘000

Net income for the year after taxation  599,794 293,060
Other comprehensive (loss) / income for the year
Net unrealised (diminution) / appreciation on re-measurement of

investments classified as ‘available for sale’

(578)  165,077
 ——-  ——-
Total comprehensive income for the year 599,216 458,137

 

 

PICIC Energy Fund Financial Results for the Year Ended June 30, 2011

We are pleased to inform you that the Board of Directors of PICIC Asset Management Company Limited in their 47th meeting held on September 09, 2011 at 12:00 a.m. at Karachi approved the audited financial statements of PICIC Energy Fund for the year ended June 30, 2011 and also approved the following:

 

1. Cash Dividend. Final cash dividend @ 15% (i.e. Rs 1.50 per certificate)
2. Bonus Certificate  Nil
3. Right Certificate  Nil

 

 

The financial results of PICIC Energy Fund for the year ended June 30, 2011 are enclosed as per Annexure – A and Annexure – B.

The final cash dividend for the financial year ended June 30, 2011, will be paid to the certificate-holders whose names will appear in the register of members of PICIC Energy Fund, at close of business on Thursday, September 29, 2011. The Certificate Transfer Register of PICIC Energy Fund will remain close from September 30, 2011 to October 6, 2011 (both clays inclusive) for determining the enticement of final, cash dividend. Transfers received by our Registrar: Noble Computer Services (Pvt.) Limited, Mezzanine Floor, House of Habib Building (Siddiqsons Tower) 3-Jinnah Cooperative Housing Society, Main Shahrah-e-Faisal Karachi-75350, at close of business on Thursday, September 29, 2011 will he treated in time for the purpose of payment of dividend to the transferees.

PICIC Asset Management Company Limited

PICIC Energy Fund Income Statement for the Year Ended June 30, 2011      Annexure – A

 

2011

2010

Rupees in ‘000

Income
Capital gain on sale of investments – net 206,564 171,086
Dividend income 88,847 46,531
Net unrealised diminution on re-measurement of investments classified

as financial assets ‘at fair value through profit or loss’

20,660  (71,109)
Profit on bank deposits 10,600 13,551
 ——- ——-
Total income 326,671 160,159
Expenses
Remuneration of the Management Company  27,079 29,382
Remuneration of Central Depository Company of Pakistan – Trustee 1,323 1,259
Annual fee – Securities and Exchange Commission of Pakistan 1,005 930
Amortisation of preliminary expenses and floatation costs 1,000 2,000
Securities transaction costs 3,634 5,433
Auditors’ remuneration 382 368
Other expenses 2,420 1,956
 ——- ——-
Total expenses  36,844  41,328
Net income from operating activities  289,827 118,831
Provision for Workers’ Welfare Fund (5,797) (2,377)
——- ——-
Net income for the year before taxation 284,030 116,454
Taxation  –  –
——- ——-
Net income for the year after taxation 284,030  116,454
——- ——-
Earnings per certificate Rupees
With net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through

profit or loss’

2.84 1.16
Without net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through

profit or loss’

2.63 1.88

 

 

PICIC Asset Management Company Limited

PICIC Energy Fund Statement of Comprehensive Income for the Year Ended June 30, 2011     Annexure B

 

2011

2010

Rupees in ‘000

Net income for the year after taxation  284,030  116,454
Other comprehensive income for the year  –  –
——-  ——-
Total comprehensive income for the year 284,030 116,454

 

For more information, contact:
Ahmed Raza
CFO and Company Secretary
PICIC Asset Management Company Limited
9th Floor, Muhammad House,
I.I. Chundrigar Road,
Karachi-74000,
Pakistan.
UAN: 111 PICIC (74242)
Tel: 0800-PICIC (74242)
Fax: 021-32418055-56
Email: customerservice@picicamc.com
Web: www.picicamc.com

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