UBL Funds Announces Payouts for Funds

KARACHI: UBL Fund Managers Limited announced payouts from its open-end funds for the period ended June 30, 2011. UBL Funds is a wholly owned subsidiary of United Bank Limited, and currently managing assets of Rs. 29 billion (as of July 10, 2011). The company enjoys a ‘High Management Quality’ rating of ‘AM2’ by JCR-VIS Credit Rating Company. The equity fund managed by the company, United Stock Advantage Fund (USF), announced a final payout of 25.01 units for every 100 units held by the Unit Holders. The Fund gave an absolute return of 35.57% in the FY10-11. On the other hand the principal protected fund, UBL Capital Protected Fund -II (UCPF -II) announced a final payout of 6.78 units for every 100 units held. The Fund has given an absolute return of 6.78% in the FY10-11.

On the Shariah-compliant side, United Composite Islamic Fund (UCIF) announced a final payout of 20.63 units for every 100 units held by the Unit Holder. UCIF has given an absolute return of 26.4 1% in the FY10-11. The United Islamic Income Fund (UIIF) announced a final payout of 7.52 units for every 100 units held by the Unit Holders. The money market scheme managed by the company, UBL Liquidity Plus Fund

(ULPF) announced its fourth interim payout of 3.1183 units for every 100 units held by the Unit Holder. This proportion will apply to actual holdings of Unit Holders. ULPF has given a return of 11.85% p.a. in the FY10-11. Two of the most recently launched income funds also announced interim payouts for the period ended June 28, 2011. UBL Savings Income Fund (USIF) announced bonus units of 8.2936 units for every 100 units held by the Unit Holder while the Shariah-compliant scheme, UBL Islamic Savings Fund (UISF) announced bonus units of 7.4434 units for every 100 units held by the Unit Holder. USIF has given a return of 12.05% p.a. since its launch in October 2010, whereas UISF has given a return of 12.03% p.a. since its launch in November 2010.

Islamabad, 15th July, 2011:- Mr. Liaqat Ali, Director (Administration), BPS-19 officer of the Central Directorate of National Savings has been retired from government service on 14-07-2011 after rendering more than 41 years of service. In this connection, an impressive farewell party was arranged in his honour at Islamabad Hotel, Islamabad. A large number of officers of National Savings all over the country participated in the function.

The Director General, National Savings Mr. Zafar M. Sheikh was the chief guest of the party. All the senior officers and Director General National Savings admired the services of the retiring officer and congratulated him on successful career of civil service. He was also hon6ured with gift hamper and honorary shield by the Director General. All the participants see him off with prayers from the core of their hearts. – brecorder