News Makers News From Pakistan
Karachi: We are pleased to inform you that the Board of Directors of UBL Fund Managers Limited (UBLFUND), the Management Company of USF in their meeting held on August 16, 2011 at 9.00 a.m. at UBL Fund Managers Limited, Corporate Office, 8th Floor, Executive Tower, Dolmen City, Karachi, has approved the following financial results of the Fund for the year ended June 30, 2011:
|
2011 |
2010 |
|
|
(Rupees in `000) |
||
| Income | ||
| Profit on bank balances | 4,901 | 8,816 |
| Gain on sale of securities – net | 210,603 | 467,404 |
| Dividend income | 2,450 | 81,783 |
| Unrealised gain / (lost) on revaluation of investments – net | 46,872 | (31,145) |
| Foreign exchange gain | 2,217 | 6,952 |
| Other income | 19 | 148 |
| ——- | ——- | |
| Total income | 337,062 | 533,958 |
| Expenses | ||
| Remuneration to the Management Company | 34,484 | 52,885 |
| Remuneration to the Trustee | 2,147 | 2,763 |
| Annual fee to Securities and Exchange Commission of Pakistan | 1,092 | 1,681 |
| Brokerage expenses | 3,338 | 5,125 |
| Custody and settlement charges | 909 | 2,005 |
| Auditors’ remuneration | 451 | 440 |
| Amortisation of preliminary expenses | 610 | 610 |
| Printing expense | 174 | 861 |
| Tax deducted on international dividends | 667 | 699 |
| Legal and professional charges | 99 | 102 |
| Sank charges | 68 | 109 |
| Fees and subscription | 170 | 170 |
| ——- | ——- | |
| Total operating expenses | 44,209 | 67,450 |
| ——- | ——- | |
| Operating income for the year | 292,853 | 466,508 |
| Element of income and capital gains included in prices | ||
| of units issued less those in units redeemed – net | 15,331 | 165,194 |
| ——- | ——- | |
| Net income for the year | 308,184 | 631,702 |
United Growth and Income Fund (UGIF) Financial Results for the year Ended 30 June 2011
We are pleased to inform you that the Board of Directors of UBL Fund Managers Limited (UBLFUND), the Management Company of UGIF in their meeting held on August 16, 2011 at 9.00 a.m. at UBL Fund Managers Limited, Corporate Office, 8th Floor, Executive Tower, Dolmen City, Karachi, has approved the following financial results of the Fund for the year ended June 30, 2011:
|
2011 |
2010 |
|
|
(Rupees in `000) |
||
| Income | ||
| Mark-up/ interest income | 481,560 | 1,684,511 |
| Net (loss)/ gain on investments at fair value through profit or loss | (2,498) | 24,889 |
| Net capital loss on investments classified as available-for-sale | (75,045) | (60,556) |
| Provision against non-performing debt securities | (898,401) | (230,813) |
| Element of income and capital gain included in prices | ||
| of units sold loss those in units redeemed – net | 41,702 | 6,955 |
| Other income | 10 | 378 |
| ——— | ——— | |
| Total (loss)/ income | (452,612) | 1,425,364 |
| Less: Expenses | ||
| Remuneration of the management company | 72,732 | 202,614 |
| Remuneration of the trustee | 5,484 | 14,518 |
| Annual fee to SECP | 3,630 | 10,142 |
| Amortisation of preliminary expenses and floatation cost | – | 176 |
| Custody and settlement charges | 122 | 581 |
| Bank charges | 203 | 871 |
| Auditors remuneration | 657 | 524 |
| Financial expense | 1,458 | – |
| Legal and professional charges | 392 | 1,421 |
| Brokerage expenses | 74 | 363 |
| Listing fee expense | 40 | 35 |
| Printing expense | 230 | 335 |
| Others | 92 | 261 |
| ——— | ——— | |
| Total operating expenses | 85,114 | 231,841 |
| ——— | ——— | |
| Net (loss)/ income for the year | (537,786) | 1,193,523 |
For more information, contact:
Rahim Khakiani
Company Secretary
UBL Fund Managers Limited
8th Floor, Executive Tower,
Dolmen City Building,
Block 4, Clifton, Karachi,
Pakistan.
Tel: (+92-21) 35290080-95
Fax: (+92-21) 35290070
Email: info@UBLFunds.com
Web: www.UBLFunds.com
