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Financial Results

IGI Aggressive Income Fund Limited’s financial results of income fund for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of IGI Funds Limited, the Management Company of IGI Aggressive Income in their meeting held on Tuesday, August 23, 2011, has approved the financial statements of IGI Aggressive Income Fund for the year ended June 30, 2011. The Financial Results are as follows;

IGI Aggressive Income Fund (Formerly POBOP Advantage Plus Fund)

Income Statement

For the year ended 30 June 2011

 

2011

2010

(Rupees in `000)

Income
Financial income   80,784 97,500
Net capital (losses) / gains on sale of investments classified as `at
fair value through profit or loss – held for trading (19,495)  2,508
Net unrealised appreciation / (diminution) in fair value of
investments classified as `at fair value through profit or loss- held
for trading’ 7,623 (18,923)
Provision for non performing term finance certificates and sukuk
certificates classified as held for trading and interest accrued
thereon (135,374) (200,158)
Provision for impairment of placement with financial Institution  (2,000)  (28,000)
Reversal for impairment in valuation of investments classified
as `held to maturity’  – 106,318
Element of Income [(losses) and capital gains / (losses) included in
prices of units sold less those in units redeemed – net  3  (9,271)
——- ——-
Total Income (68,459) (50,026)
Expenses
Remuneration to the Management Company 15,106  19,076
Remuneration to the Trustee 1,399 1,833
Annual fee to the Securities and Exchange Commission of Pakistan 566 715
Brokerage expense 136 73
Bank and settlement charges 17 185
Amortisation of deferred formation cost 665 746
Auditors’ remuneration 533 670
Legal and professional charges 421
National Clearing Company of Pakistan Limited charges 30
CDS transaction fee  6
Annual listing fee 40
Printing charges 99  –
Stability rating fee 200 158
Workers’ Welfare Fund 103
Others 43
——-  ——-
Total expenses 19,261  23,559
 ——- ——-
Net loss for the year (87,720)  (73,585)

 

For more information, Contact:
Abdul Qadir
Company Secretary
IGI Aggressive Income Fund Limited
7th Floor, The Forum Suite No. 701-713,
G-20, Khayban-e-Jami Block – 9,
Clifton, Karachi – 75600,
Pakistan.
UAN: +92-21-111-367-444
Fax: +92-21-3530-6742

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