Al Meezan announces Meezan Family of Funds results

Meezan Islamic Fund (MIF), Pakistan’s largest open-end equity fund in private sector, reported a net income of Rs 364 million for the nine months ended March 31, 2012, which translates into earnings per unit of Rs 3.36.
During nine months period the fund has provided 17 per cent return.

The net assets of the fund as at March 31, 2012 were Rs 5,274 million.

Al Meezan Mutual Fund Limited (AMMF), an open-end equity fund, reported a net income of Rs 148 million for the period from August 5, 2011 to March 31, 2012.

This translates into earnings per share of Rs 1.11.

During nine months period the fund has provided 16 per cent return.

The net assets of the fund as at March 31, 2012 were Rs 1,642 million.

 

SHARIAH FUNDS

 

Meezan Islamic Income Fund (MIIF), the first Shariah compliant open-end income fund in Pakistan earned a net income of Rs 66 million, which translates into earnings per unit of Rs 2.72.

During the period under review the fund has provided the annualised return of 7.40 per cent.

The net assets of the fund as at March 31, 2012 were Rs 1,228 million.

Meezan Cash Fund (MCF), the first Shariah compliant open-end Money Market Fund, earned a net income of Rs 537 million for the nine months ended March 31, 2012 translating into earnings per share of Rs 3.48.

During the period under review the fund has provided the annualized return of 11.3 per cent.

The net assets of the fund as at March 31, 2012 were Rs 7,742 million.

Meezan Sovereign Fund (MSF), the first and the largest Shariah compliant open-end Government Securities Fund, earned a net income of Rs 1,415 million for the nine months ended March 31, 2012 translating into earnings per unit of Rs 3.78.

During the period under review the fund has provided the annualized return of 11.70 per cent.

The net assets of the fund as at March 31, 2012 were Rs 18,873 million.

Meezan Balanced Fund (MBF), a closed-end balanced scheme, earned a net income of Rs 143 million, which translates into an earning per certificate of Rs 1.19 at the close of nine months ended March 31, 2012.

During nine months period the fund has provided 14 per cent return.

The net assets of the fund as at March 31, 2012 were Rs 1,497 million.

Meezan Capital Protected Fund-II (MCPF-II), second in series of first Shariah compliant Capital Protected Funds in Pakistan reported net income of Rs 41.6 million which translates into an earning per unit of Rs 5.27.

The net assets of the fund as at March 31, 2012 were Rs 436 million.

Al Meezan is one of the leading asset management companies in the private sector in Pakistan with total assets under management of over Rs 39 billion and AM2 rating by JCR-VIS denoting High Quality Management.-PR

URL: http://www.brecorder.com/money-a-banking/198/1185657/

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