Financial results of Pakistan Income Fund for quarter ended September 30, 2016

Karachi, Pakistan Income Fund informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on October 21, 2016.

The agenda of the meeting was discussion of profit and loss account for quarter ended September 30, 2016 which portrayed a profit of Rs. 10,245.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

Pakistan Income Fund (PIF) is an open end fund, which invests in corporate securities, Government securities; money market placements, TDRs and short maturity reverse repurchase transactions. PIF is a long only fund and cannot undertake leveraged investments. Under the Regulation number 58(1)(k) of NBFC and NE regulations 2008, it is only allowed to borrow up to 15% of net assets for up to 90 days to meet redemption needs.

The symbol “OEFPIF” is being used by the stock exchange for the Pakistan Income Fund.