IGI Aggressive Income Fund Limited’s financial results of income fund for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of IGI Funds Limited, the Management Company of IGI Aggressive Income in their meeting held on Tuesday, August 23, 2011, has approved the financial statements of IGI Aggressive Income Fund for the year ended June 30, 2011. The Financial Results are as follows;

IGI Aggressive Income Fund (Formerly POBOP Advantage Plus Fund)

Income Statement

For the year ended 30 June 2011

 

2011

2010

(Rupees in `000)

Income
Financial income  80,78497,500
Net capital (losses) / gains on sale of investments classified as `at
fair value through profit or loss – held for trading(19,495) 2,508
Net unrealised appreciation / (diminution) in fair value of
investments classified as `at fair value through profit or loss- held
for trading’7,623(18,923)
Provision for non performing term finance certificates and sukuk
certificates classified as held for trading and interest accrued
thereon(135,374)(200,158)
Provision for impairment of placement with financial Institution (2,000) (28,000)
Reversal for impairment in valuation of investments classified
as `held to maturity’ -106,318
Element of Income [(losses) and capital gains / (losses) included in
prices of units sold less those in units redeemed – net 3 (9,271)
——-——-
Total Income(68,459)(50,026)
Expenses
Remuneration to the Management Company15,106 19,076
Remuneration to the Trustee1,3991,833
Annual fee to the Securities and Exchange Commission of Pakistan566715
Brokerage expense13673
Bank and settlement charges17185
Amortisation of deferred formation cost665746
Auditors’ remuneration533670
Legal and professional charges421-
National Clearing Company of Pakistan Limited charges30-
CDS transaction fee 6-
Annual listing fee40-
Printing charges99 -
Stability rating fee200158
Workers’ Welfare Fund-103
Others43-
——- ——-
Total expenses19,261 23,559
 ——-——-
Net loss for the year(87,720) (73,585)

 

For more information, Contact:
Abdul Qadir
Company Secretary
IGI Aggressive Income Fund Limited
7th Floor, The Forum Suite No. 701-713,
G-20, Khayban-e-Jami Block – 9,
Clifton, Karachi – 75600,
Pakistan.
UAN: +92-21-111-367-444
Fax: +92-21-3530-6742