Al Meezan Investment Management Limited (Al Meezan Investments) is pleased to announcean interim payout of Rs. 1.25 per unit i.e., 2.5% ofthepar value Rs. 50/-for Meezan Islamic Income Fund (MIIF) for the 1st quarter ended September 30, 2009. The payout is 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 September 30, 2009 will get 2.4876 additional units at the ex-div. NAV of Rs. 50.25 while an Income Unit holder will get Cash Dividend of Rs. 1.25 per unit.
MIIF is the first and largest Shariah compliant open end income fund in Pakistan which aims at providing a consistent and Halal income stream with main focus on long term capital preservation. The fund size of MIIF as at September 30, 2009 is Rs. 5.82 billion. The books of the Fund will re-open from Saturday October 3, 2009.
Al Meezan Investments is the only full-fledged Shariah complaint asset management company in Pakistan, with AM2- Management Quality Rating. It has Rs. 15.6 billion assets under management. Due to its prudent fund management, Al Meezan Investments has not only been able to retain its existing investors but also managed to increase the investor base. This success is reflective of the confidence and trust of both individual and institutional investors.