Tag Archives: (Al Meezan)

Al Meezan announces fourth interim dividend payout for three funds

Karachi: Al Meezan Investment Management Limited (Al Meezan) on May 24, 2011 has announced Fourth Interim dividend payout for its three funds; Meezan Islamic Income Fund (MIIF) – Rs. 1.00 per unit, Meezan Sovereign Fund (MSF) – Rs. 0.88 per unit and Meezan Cash Fund (MCF) – Rs. 0.85 per unit.

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 MIIF as at May 23, 2011 will get 1.9861 additional units at the ex-div. NAV of Rs. 50.35 while an Income Unit holder will get Cash Dividend of Rs. 1.00 per unit. A Growth Unit holder having 100 units of MSF as at May 23, 2011 will get 1.7593 additional units at the ex-div. NAV of Rs. 50.02 while an Income Unit holder will get Cash Dividend of Rs. 0.88 per unit. A Growth Unit holder having 100 units of MCF as at May 23, 2011 will get 1.6990 additional units at the ex-div. NAV of Rs. 50.03 while an Income Unit holder will get Cash Dividend of Rs. 0.85 per unit.

Meezan Islamic Income Fund (MIIF) is the first and the largest Shariah compliant open end income fund in Pakistan. The annualized return for the period from April 01 to May 21, 2011 was 15.95%. The current net assets of MIIF are Rs. 2,540 million.

Meezan Sovereign Fund (MSF) is the first Shariah compliant open end government securities fund in Pakistan. The annualized return for the period from April 01 to May 21, 2011 was 12.19%. The current net assets of MSF are Rs. 10,716 million.

Meezan Cash Fund (MCF) is the first Shariah compliant open end money market fund in Pakistan. The annualized return for the period from April 01 to May 21, 2011 was 11.76%. The current net assets of MCF are Rs. 5,786 million.

Al Meezan Investments is the largest asset management company in the private sector in Pakistan with total assets under management of over Rs.28 billion and AM2 rating by JCR-VIS denoting High Quality Management. Al Meezan offers a complete range of investment solutions to meet the varying investment needs of its investors which exceed 18,000 clients including over 300 institutional investors.