JS ABAMCO Limited (formerly ABAMCO Limited) is pleased to announce dividend payouts for eight of our open-end funds for fiscal year ending June 30, 2007.
Payouts
In a meeting on July 7, 2007, the Board of Directors of JS ABAMCO Limited approved stock dividends of:
Rs 2,010.70/- per unit for Unit Trust of Pakistan (27.50% on the opening NAV of Rs 7,311.62/-),
Rs 53.30/- per unit for UTP- Income Fund (10.50% on the opening NAV of Rs 507.60/-),
Rs 148.63/- per unit for UTP-Islamic Fund (25.00% on the opening NAV of Rs 594.53/-),
Rs 13.36/- per unit for UTP-Aggressive Asset Allocation Fund (24.5% on the opening NAV of Rs 54.55/-),
Rs 7.55/- per unit for UTP-Fund of Funds (15.00% on the opening NAV of Rs 50.32/-),
Rs 4.50/- per unit for UTP-CPF (4.50% on the opening NAV of Rs 100.00/-),
Rs 0.20/- per unit for UTP-CPF II (0.20% on the opening NAV of Rs 100.00/-)
The Board of Directors also approved cash dividend of Rs 5.00/- per unit for UTP – A30+ Fund. This is in addition to interim cash dividend of Rs 7.50/- per unit already paid in February 2007. This makes the total dividend of Rs 12.50/- per unit which translates into 25.00% of the opening NAV.
Performance
JS ABAMCO Limited has an asset manager rating of ‘AM2+’, which is the highest rating ever received by any asset manager in Pakistan and reflects our leadership and strength in the asset management sector. Moreover, PACRA has assigned 5-star ratings for superior performance to all eligible open end funds; eligibility for ratings includes one full year of operations.
We are proud to inform that our open-end funds have done remarkably well during fiscal year 2006-2007 and we have announced an overall dividend of Rs 2,103/- million for our open end funds. UTP- A30+ fund posted total return of 37.95% during this year and outperformed the KSE-100 which posted a return of 37.87%. UTP – ISF posted a return of 22.29% for the year, outperforming Dow Jones JS Pakistan Islamic Index by 5.13% which returned 17.16% over the same period. UTP provided a return of 28.28% while UTP – AAA posted a return of 27.08% for the year. UTP – IF provided a dividend of 10.50% on the opening NAV of Rs. 507.60 while the average six month KIBOR for the year was 10.36 percent.
JS ABAMCO once again proved its commitment to product innovation with the launch of a series of open ended capital protected funds this year for the first time in Pakistan. Two of these funds have been launched successfully while the third fund of the series is expected to be available for subscription soon. The company also launched JS Pension Savings Fund recently in collaboration with Standard Chartered Bank (Pakistan) Limited and EFU Life Assurance Limited to bring a unique one stop retirement solution which takes care of all of your retirement needs through a single product.
Our consistent track record serves as a testimony to our commitment to provide maximum value to the unit holders in terms of investment performance and services. We are proud to be a part of Jahangir Siddiqui Group and we will continue to strive to be the best asset management company in Pakistan.
