Arif Habib Investments Limited’s Metrobank – Pakistan sovereign fund –perpetual (MSF-Perpetual) financial results for the year ended 30th June 2011

Karachi: We are pleased to inform you that the Board of Director of Arif Habib Investments Limited (AHI), the Management Company of MSF (Perpetual) in its meeting held on 20th September 2011, at 04:00 p.m. at MCB House, 15- Main Gulberg Lahore, has approved the following financial results for the year ended 30th June 2011:

 

2011

2010

(Rupees)

Income
Income from investments in government securities200,905,419185,438,489
Capital loss on sale of government securities(19,386,459) (4,494,252)
Gain on redemption of units of Sub-Scheme -412,352
Unrealised appreciation / (diminution) in value of investments’ classified
As at fair value through profit or loss’7,907,240 (5,485,854)
Income from reverse repurchase transactions of government securities 322,895891,737
Dividend Income1,800,835-
Profit on bank deposits2,347,6772,870,822
———– ———–
Total Income193,897,607179,633,284
Operating Expenses
Remunerations o the Management Company20,345,50013,330,424
Remunerations of Trustees1,914,2382,773,353
Annual Fee – Securities and Exchange Commission of Pakistan 1,213,1571,196,616
Brokerage 403,300292,176
Bank charges167,46782,344
Printing and publication charges159,542137,053
Fees and subscriptions148,918 61,759
Legal and professional charges93,098145,889
Auditors’ remuneration468,227405,180
 ———– ———–
Total operating Expenses24,913,44718,414,774
Net income from operating activities168,984,160161,218,510
Element of income / (loss) and capital gains / (losses) included in the prices
Of units issued less those in units redeemed 47,263,343 (14,639,948)
———– ———–
Net income for the year before taxation216,247,503 146,524,562
Taxation - -
———– ———–
Net income for the year after taxation216,247,503146,524,562
Other comprehensive income for the year
Unrealised surplus in value of investments classified as ‘available for sale’- net-1,860,219
Reclassification of unrealised diminution upon disposal of investments3240,541-
———– ———–
classified as ‘available for sale’
Total comprehensive income for the year219,488,044148,384,781

 

Earnings per unit

EPU is not disclosed as the determination of weighted average units for calculating EPU in not practicable.

Metrobank -Pakistan Sovereign Fund –December 2012 (MSF-12/12) Financial Results for the Year Ended 30th June 2011

We are pleased to inform you that the Board of Director of Arif Habib Investments Limited, the Management Company of MSF (12/12) in its meeting held on 20th September 2011, at 04:00 p.m. at MCB House, 15- Main Gulberg Lahore, has approved the following financial results for the year ended 30th June 2011:

 

20112010
(Rupees)
Income
Income from investments in government securities13,822,1225,908,222
Income from reverse repurchase transactions -31,500
Profit on bank deposits227,527144,352
Capital loss on sale of government securities(2,827)-
Unrealised diminution in value of investments classified as at fair value through profit or loss’ (1,344,275)(449,374)
 ———- ———-
Total Income12,702,5479,634,700
Operating Expenses
Remuneration of the Management Company1,384,140745,523
Remuneration of Trustees135,985139,683
Annual Fee – Securities and Exchange Commission of Pakistan86,43363,612
Brokerage1,3005,975
Printing and publications 101,1498,555
Fees and subscriptions3,215 8,010
Bank charges 17,366-
Legal and professional charges  6,5469,219
Auditors’ remuneration35,00420,732
  ———- ———-
Total expenses 1,680,2401,001,309
———- ———-
Net income from operating activities11,022,3078,633,391
Element of income / (loss) and capital gains/ (losses) included in the prices of units issued less those in units redeemed (1,377,375)15,090,985
———- ———-
Net income for the year before taxation9,644,93223,724,376
Taxation--
 ———- ———-
Net income for the year after taxation9,644,932 23,724,376
Other comprehensive income for the year
Unrealised surplus in value of
investments classified as ‘available for sale- net-25,907
Reclassification of unrealised diminution upon disposal

of investments

 25,186 -
classified as ‘available for sale’
 ———-———-
Total comprehensive income for the year9,670,11823,750,263

 

Earnings per unit

EPU is not disclosed as the determination of weighted average units for calculating EPU in not practicable.

Metrobank -Pakistan Sovereign Fund (MSF) Financial Results for the Year Ended 30th June 2011

We are pleased to inform you that the Board of Director of Arif Habib Investments Limited, the Management Company of MCB DAF in its meeting held on 20th September 2011, at 04:00 p.m. at MCB House, 15- Main Gulberg Lahore, has approved the following financial results for the year ended 30th June 2011:

 

2011

2010

(Rupees)

Income
Income from investment in government securities214,727,541195,346,711
Capital loss on sale of government securities(19,389,286)(4,494,252)
Unrealised diminution in value of investments
Classified as ‘at fair Value through profit or loss (1,572,708)(14,101,758)
Income from reverse repurchase transactions of government securities 322,895923,237
Profit on bank deposits2,575,2043,015,174
 ———–  ———–
Total income196,663,646130,669,112
Operating Expenses
Remuneration of the Management Company21,729,64014,075,947
Remuneration of Trustees2,050,2232,913,036
Annual Fee – Securities and Exchange Commission of Pakistan1,299,5901,260,228
Brokerage404,600298,151
Bank charges184,83582,344
Printing and publication charges 169,691145,508
Fees and subscription152,13359,769
Legal and professional charges99,744155,088
Auditors’ remuneration503,231425,912
 ———–———–
Total operating expenses26,593,58719,416,083
———–———–
Net income from operating activities170,069,959161,273,029
Element of Income / (loss) and capital gains / (losses) included in the prices of units issued less those in units redeemed 47,252,735(14,688,687)
 ———– ———–
Net Income for the year before taxation217,322,594146,584,342
Taxation - -
 ———– ———–
Net Income for the year after taxation217,322,694146,584,342
 ———–———–
Other comprehensive income/ (loss) for the year
Unrealised surplus in value of investments classified as ‘available for sale’ – net-1,886,126
Reclassification of unrealised deficit upon disposal of investments
classified s ‘available for sale’3,265,727 -
———–———–
Total comprehensive income for the year220,588,421148,470,468

 

Pakistan Income Fund (PIF) Financial Results for the Year Ended 30th June 2011

We are pleased to inform you that the Board of Director of Arif Habib Investments Limited, the Management Company of PIF in its meeting held on Tuesday, 20th September 2011, at 04:00 p.m. at MCB House, 15- Main Gulberg Lahore, has approved the following financial results for the year ended 30th June 2011:

 

2011

2010

(Rupees)

Income
Capital gain on sale of investment -net 3,50426,711
Income from term finance and sukuk certificates106,739158,455
Income from governments securities151,243113,030
Income from placements6737,317
Income from certificates of investments-1,856
Income from term deposit receipts7,23619,981
Income from reverse repurchase transactions-1,160
Profit on bank deposits 3,0438,562
 ——- ——-
272,438 337,072
Unrealised (diminution) / appreciation in value

of investments ‘at fair value through profit or loss’ -net

(2,801)13,403
‘revision against non performing exposures(1,934) (2,471)
Reversal of income from term finance and Sukuk certificates - (382)
 ——-——-
Total income 267,704347,622
Expenses
Remuneration of the Management Company29,66734,815
Remuneration of Central Depository company of

Pakistan Limited-Trustee

2,7633,321
Annual fee – Securities and Exchange Commission of Pakistan1,4831,741
Securities transaction cost223690
Settlement and bank charges4751,229
Fees and subscription258 258
Legal and professional charges77 83
Auditors’ remuneration533496
Printing and related costs172141
  ——- ——-
Total expenses35,65142,774
Element of income/ (loss) and capital gains/ (losses) included in prices of units issued less those in units redeemed (15,924)(21,131)
——-——-
Net income for the year216,218283,717

 

Earnings / (loss) per unit has not been disclosed us in the opinion of the management, determination of weighted average number of units for calculating earnings / (loss) per unit is not practicable.

Pakistan Strategic Allocation Fund Financial Results for the Year Ended 30th June 2011

We are pleased to inform you that the Board of Director of Arif Habib Investments Limited, the Management Company of PSAF in its meeting held on 20th September 2011, at 04:00 p.m. at MCB House, 15- Main Gulberg Lahore, has approved the following financial results for the year ended 30th June 2011:

 

2011

2010

(Rupees)

Income
Capital gain on sale investments- net172,621288,515
Income from government securities 54,537 47,059
Income from placements with financial institutions 616 6,015
Income from term finance certificates -4,906
Income from reverse repurchase transactions - 3,227
Dividend income82,867119,414
Profit on bank deposits8,14416,183
Other income - 70
 ——- ——-
318,785485,389
Impairment loss on financial assets classified as ‘available for sale’ (1,972)(1,589)
Element of income / (loss) and capital gains/ (losses) included in prices of units issued less those units redeemed(225,425)-
Unrealised appreciation / (diminution) on revaluation of investments

‘at fair value through profit or loss’ – net

 72,803(29,777)
 ——- ——-
Total income164,191454,023
Operating expenses
Remuneration of the Management company31,27155,593
Remuneration of Central Depository Company of
Pakistan Limited – Trustee2,1222,439
Annual fee – Securities and Exchange Commission of Pakistan1,4852,477
Securities transaction cost5,482  6,281
Conversion cost7,600 -
Custody, settlement and bank charges6121,031
Fees and subscription 644345
Printing and related cost298 289
Auditors’ remuneration383384
Amortization of preliminary and flotation costs -731
——-——-
Total operating expenses49,897 69,570
 ——- ——-
Net income for the year 114,294384,453
Taxation  - -
 ——- ——-
Net income after taxation114,394384,453
Other comprehensive income for the year
Unrealised (diminution) / appreciation in value of investments
Classified ‘available for sale’ (36,626)10,152
 ——- ——-
Total comprehensive income for the year722,892394,605

 

Earnings per unit (EPU) is not disclosed as the management is of the opinion that calculation of weighted average.

We are please to inform you that the Board of Directors of Arif Habib Investments Limited the Management Company of PIEIF in as meeting held on 20th September 2011 at 04:00 p.m. at MCB House, 15 – Main Gulberg, Lahore has approved the following financial results for the year ended 30th June 2011:

 

30 June

30 June

2011

2010

(Rupees in ‘000)

Income
Capital Gain / (Loss) on sale of investments – net 33,350 78,259
Exchange gain realised on sale of foreign investments -7,618
Profit on saving bank deposits4,341 4,937
Dividend income21,42920,214
Income from investment in sukuk bonds1,5803,349
Income from investment in ijarah finance1,584 -
Unrealised diminution in the value of investments – net12,826 (33,075)
  —— ——
Total income75,11081,302
Expenses
Remuneration of Management Company10,84115,197
Remuneration of Central Depository Company of
Pakistan Limited – Trustee7861,098
Annual fee – Securities and Exchange Commission of Pakistan373 522
Securities transaction cost 1,0981,710
Securities transaction charges2181,400
Fees and subscriptions 248 148
Auditors’ remuneration383517
Prating and related cost214198
Professional charges 52103
Amortisation of preliminary expenses and floatation costs1,3701,650
Other expenses56-
  —— ——
Total expenses15,63922,543
 —— ——
Net income from operating activities59,471 58,759
Net element of income / (loss) and capital gains / (losses)
included in prices of units issued less those in units redeemed1,205 9,386
————
Net income / (loss) carried forward for distribution60,67668,145

 

Earnings per unit (EPU) is not disclosed as the management is of the opinion that calculation of weighted average number of units is impracticable.

Pakistan Capital Market Fund (PCM)

Financial Result for the Year Ended 30th June 2011

We are pleased to inform you that the board of Directors of Arif Habib Investments Limited the Management Company of PCM in its meeting held on 20th September 2011 at 04:00 p.m. at MCB House, 15 – main Gulberg Lahore has approved the following financial for the year ended 30th June 2011:

 

Year Ended

Year Ended

30th June

30th June

(Rupees in ‘000)

Income17,442 90,273
Capital gain on sale of investments – net15,352 2,925
Income from investment in government securities6,45313,801
Income from term finance certificates -43
Income from placements with financial institutions2,5443,649
Income from preference shares13,89125,047
Dividend income 1,9976,342
 —— ——
Profit on bank deposits57,679142,080
Unrealized appreciation / (diminution) on re-measurement of investments classified as financial asset at fair value through profit or loss18,833(1,127)
Provision against non – performing exposure - (2,471)
 ————-
76,512138,482
Impairment loss on financial assets classified as ‘available for sale’(654) (1,032)
Reversal of income from non – performing term finance certificates
and sukuk bonds2,471(382)
—— ——-
Total income78,329 137,068
Operating Expenses
Remuneration of Arif Habib Investments Limited – Management Company8,61110,388
Remuneration of Central Depository Company of Pakistan
Limited – Trustee8611,039
Annual fee – Securities and Exchange Commission of Pakistan366463
Securities transaction cost9091,335
Bank charges 6664
Fees and subscriptions258507
Legal and professional charges  6260
Auditors’ remuneration481422
Amortisation of conversion cost5751,468
Printing Charges378 255
 —— ——-
Total Operating expenses12,56716,001
 ————-
Net income from operating activities65,762121,067
Element of income / (loss) and capital gain/ (losses) for the year
included in prices of units issued less those in units
redeemed – realized (23,137) 19,874
 ————-
Net income for the year before taxation42,625140,941
Taxation - -
 —— ——-
Net income for the year after taxation42,625140,941
Other comprehensive income
Not unrealised diminution on re-measurement of investments classified as ‘available for sale’ (8,087)(13,445)
 —— ——-
Total comprehensive income for the year34,538127,496

 

EPU is not disclosed as the determination of weighted average units for calculating EPU is not practicable.

AH Dow Jones Safe Pakistan Titans 15 Index Fund

Financial Results for the Period from 16 August 2010 to 30 June 2011

We are pleased to inform you that the board of Directors of Arif Habib Investments Limited, the Management Company of AH Dow Jones Safe Pakistan Titans 15 Index Fund (the Fund) in its meeting held on 20th September, 2011 at 04:00 p.m. at MCB House, 15 – main Gulberg Lahore has approved the following financial for the year ended 30th June 2011:

 

(Rupees in ‘000)

Income
Profit on bank deposits422
Dividend income 5,180
Gain on sale of investments – net  2,080
Unrealized Gain on securities classified as ‘at fair value through profit or loss’ 11,815
——
Total income19,497
Expenses
Remuneration of Management Company 846
Remuneration of MCB Financial Services Limited – Trustee497
Annual fee – Securities and Exchange Commission of Pakistan80
Settlement and Bank charges 155
Fees and subscriptions 419
Auditors’ remuneration323
Brokerage and FED charges 80
Annual listing Fee 75
Professional charges105
Printing and related cost142
 ——
Amortisation of preliminary expenses and floatation costs2,722
 ——
Total expenses16,775
Net income from operating activities
Net element of income and capital gains included in prices
of units issued less those in units redeemed198
 ——
Net income carried forward for distribution16,973
Other comprehensive (loss)/ income for the year -
 ——
Total comprehensive income for the year16,973

 

Earnings per unit (EPU) is not disclosed as the management is of the opinion that calculation of weighted average number of units is impracticable.

With reference to our letter No. FIN-11/12/AMC/Sept-1 dated 12th September, 2011, this is to inform you that the meeting of the Board of Directors of Arif Habib Investments Limited was held on Tuesday, 20111 September, 2011 at 4:00 p.m. at MCB House 15-Main Gulberg Lahore.

After the approval of audited annual financial statements of the Collective Investment Schemes under management of the Company, the meeting was adjourned for Thursday, 29″ September, 2011 at 4:00 p.m. at MCB House 15-Main Gulberg, Lahore. The Financial Statements of AHIL will he considered for approval by Board at the above mentioned date.

Further, it is hereby notified that in compliance with the clause xxvi of the Code of Corporate Governance, Closed Period is hereby extended till 29th September, 2011 for Arif Habib Investments Limited prior to the announcement of results for the period ended 30th June, 2011.

Pakistan Stock Market Fund

Financial Result for the year Ended 30 June 2011

We are pleased to inform you that the Board of Directors of Arif Habib Investments Limited, (The Management Company) of Pakistan Stock Market Fund, (The Management Company) of Pakistan Stock Market Fund (PSM) in its meeting hold on Tuesday, 20th September, 2011 at 4:00 p.m. at MCB House 15-Main Gulberg Lahore approved the following financial results for the year ended 30th June 2011.

 

2011

2010

(Rupees in ‘000)

Income
Capital gain on sale of investments150,391315,443
Dividend income80,37395,730
Income from government securities 21,6829,443
Profit on bank deposits4,40722,180
Income from placements with financial institutions -7,848
Impairment loss on financial assets classified as ‘available for sale’ (970) (1,874)
Unrealised appreciation in value of investments
At fair value through profit or loss – net111,03957,061
 ——-——-
Total income366,922505,831
Expenses
Remuneration of the Management Company31,08443,150
Remuneration of Central Depository Company of Pakistan Limited – Trustee 2,5543,158
Annual fee – Securities and Exchange Commission of Pakistan1,487 2,050
Securities transaction cost 3,5335,306
Settlement and bank charges 379 632
Fees and subscriptions207207
Legal and professional charges100123
Auditors’ remuneration474 401
Printing and related costs264 296
——-——-
Total expenses 40,08255,323
  ——-——-
326,840450,508
Net element of income / (loss) and capital gain/ (losses) for the year
included in prices of units issued less those in units redeemed – realized (70,885)(65,272)
——-——-
Net income for the year255,955385,236
Other comprehensive (loss)/ income for the year
Net element of income/ (loss) and capital gain/ (losses) for the year
included in prices of units issued less those in units (24,307)(23,562)
redeemed-amount representing unrealized appreciation/ (diminution)
Unrealised (diminution)/ appreciation in value of investments

classified as ‘available for sale’

 (11,489)23,210
——- ——-
Total comprehensive income for the year 220,159384,884

 

Earnings per unit (EPU) is not disclosed as determination of weighted average units for calculating EPU is not printed financial statements for distribution amongst the members of the Exchange of the Exchange will be sent later.

For more information, contact:
Muhammad Saqib Saleem
Chief Financial Officer and
Company Secretary
Arif Habib Investments Limited
8th floor, Techno City Corporate Tower,
Hasrat Mohani Road, Karachi
UAN: (+92-21) 11-11-622-24
Toll Free: 0800-622-24,
Fax: (+92-21) 32276898