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Financial Results

UBL Fund Managers Limited’s financial results for the year ended 30 June 2011

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

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