Dawood Capital Management Limited’s financial result of first Dawood Mutual Fund for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of Dawood Capital Management Limited (DCM) Manager of First Dawood Mutual Fund in their meeting held on Wednesday September 7, 2011 at 11:30 a.m. at 5-B, 5th Floor, Lakson Square Building # 1, Sarwar Shaheed Road, Karachi, recommended the following:

(i) Cash Dividend

Board of Director of DCM Manager of First Dawood Mutual Fund has approved cash dividend of Re. 0.33 per certificate i.e. 3.30%.

And/or

(ii) Bonus Issue    NIL

And/or

(iii) Right Shares  NIL

And/or

(iv) Any other Entitlement/ Corporate Action    NIL

And/or

(v) Any other price – Sensitive Information  NIL

The financial result of the Fund is enclosed.

The Certificate Transfer Books of the fund will be closed from October 01, 2011 to October 07, 2011 (both days inclusive) the Transfer received at the Registrar Office, FD Registrar Service (SMC-Pvt) Ltd at Office # 1108, 11th Floor, Trade Centre, I.I. Chundrigar Road, Karachi at the close of business on September 30, 2011will be treated in time for the above entitlement to the transferees.

First Dawood Mutual Fund Income Statement For the Year Ended June 30, 2011

 

Note2011 2010
Rupees Rupee
(4,144,409)10,144,199
Income16,264,86732,095,559
(Loss)/Gain on Sale of Investment11,180,987-
Profit on Term Finance Certificates/Sukuks9,222,423 11,923,878
Profit on Treasury Bills 3,569,6293,052,166
Dividend Income ———–———–
Profit on Bank Balances36,093,497 57,215,802
Unrealized Gain/(Loss) on Revaluation of Investments
At Fair Value through Profit or Loss1544,197,199(74,374,487)
 ———– ———–
80,290,696(17,158,685)
Expenses
Remuneration of Management Company10,753,19313,613,215
Remuneration of Trustee902,909890,357
Annual Fee of SECP457,016444,927
Brokerage and Settlement Charges788,1493,198,329
Auditors’ Remuneration 16237,000 202,000
Fee and Subscription 573,653696,467
Bank Charges21,257 25,447
Legal and Professional Charges51,154 -
Workers’ Welfare Fund1,327,216 -
Printing Charges145,576 75,984
  ———– ———–
Total Expenses15,257,12319,146,726
———–———–
Net Income/ (Loss) for the year 65,033,573 (36,305,411)
 ———– ———–
Earnings/(Loss) per Certificate171.12 (0.63)

 

 

The annexed notes from 1 to 30 form an integral part of these financial statements.

For and on behalf of Dawood Capital Management Limited (Management Company)

First Dawood Mutual Fund Statement of Assets and Liabilities As at June 30, 2011

 

Note

 20112010
RupeesRupees
Assets
Bank Balances

4

26,309,731 57,810,740
Investments

5

515,056,888413,327,403
Advances, Deposits and other Receivables

6

12,540,617 16,215,429
 ———– ———–
Total Assets553,907,236487,353,572
Liabilities
Remuneration Payable to Management Company

7

935,229768,377
Remuneration Payable to Trustee

8

76,448 67,902
Annual Fee Payable to SECP

9

457,016 444,927
Creditors, Accrued and Other Liabilities

11

2,443,5311,110,927
Dividend Payable

12

282,450282,450
 ———– ———–
Total Liabilities4,194,6742,674,583
 ———– ———–
Net Assets549,712,562484,678,989
 ———–———–
Certificate Holder’s Equity
Issued, Subscribed and Paid-up Capital

13

580,750,000580,750,000
Unappropriated Losses(31,037,438) (96,071,011)
———–———–
549,712,562484,678,989
 ———– ———–
Contingencies and Commitments

14

Number of Certificates58,075,00058,075,000
 ———– ———–
Net Asset Value per Certificate (face value per certificate Rs. 10/-)9.478.35

 

The annexed notes from 1 to 30 form an integral part of these financial statements.

For and on behalf of Dawood Capital Management Limited (Management Company)

 

For more information, contact:
Dawood Capital Management Limited
5B Lakson Square Building # 1, Sarwar Shaheed Road,
Karachi – 74200,
Pakistan.
UAN: 111-DAWOOD (111-329-663)
Tel: (92-21) 3562-1001-06
Fax: (92-21) 3562-1010
Email: dcm@edawood.com
Web: www.edawood.com