Al Meezan an­nounces div­i­dend

The Financial Daily - - MONEY & FOREX -

Shab­bir Kazmi KARACHI: Al Meezan In­vest­ment Man­age­ment (Al Meezan) has an­nounced the third in­terim div­i­dends for its three fixed in­come funds namely Meezan Sov­er­eign Fund (MSF), Meezan Is­lamic In­come Fund (MIIF) and Meezan Cash Fund (MCF).

The pay­outs are in the form of Bonus Units to the Growth Unit hold­ers and Cash Div­i­dend to the In­come Unit hold­ers. A Growth Unit holder hav­ing 100 units of MSF as at March 28, 2011 will get 4.1992 ad­di­tional units at the ex-div­i­dend NAV of Rs50.01 while an In­come Unit holder will get Cash Div­i­dend of Rs2.10 per unit. MSF is the first Shariah com­pli­ant open end gov­ern­ment se­cu­ri­ties fund in Pak­istan. The an­nu­al­ized re­turn for the pe­riod from Jan­uary 01 to March 28, 2011 was 11.77 per cent. The cur­rent net as­sets of MSF are Rs10,159 mil­lion.

See # 3 Page 11

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