Al Meezan Investments announces Dividend for Al Meezan Mutual Fund
The Board of Directors of Al Meezan Mutual Fund Limited (AMMF), on Monday, August 04, 2008 approved the financial results for the year ended June 30, 2008 and announced 10% cash dividend i.e., Re. 1 per share for its Shareholders.
Al Meezan Mutual Fund Limited (AMMF) was the first fund launched by Al Meezan Investments and is one of the oldest mutual funds in the private sector. It is a closed end equity fund that invests in Shariah compliant equity instruments to provide investors with Pure Profit. During its long and illustrious journey of 12 year AMMF has been paying regular dividends to its investors. Maintaining that tradition, AMMF announced 10% cash dividend i.e., Re. 1 per share for its shareholders for the year ended June 30, 2008.
Al Meezan Investments, rated AM2 by JCR-VIS, currently has 17.4 billion total net assets under management as compared to Rs. 12.2 billion as on June 30, 2007, which reflects a substantial increase of 42.62%. This success is reflective of the confidence and trust of both individual and institutional investors.