JS Investments Limited’s growth fund financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of JS Investments Limited (JSIL), the Management Company of JS Growth Fund in their meeting held on Friday, September 09, 2011 at Karachi approved the following:

Cash dividend:

A final cash dividend for the year ended June 30, 2011 at Re. 1.00 per certificate i.e.10%.

This is in addition to interim dividend already paid at Re.0.75 per certificate i.e.7.5%.

The Certificate Transfer Book of the Fund will be closed from Tuesday, October 04, 2011 to Tuesday, October 11, 2011 (both days inclusive). Transfers received at the Registrar’s Office, Technology Trade (Pvt.) Limited, Dagia House, 241-C, Block-2, P.E.C.H.S. Karachi at the close of business on or before Monday, October 03, 2011 will be treated in time for the purpose of above entitlement to the transferees.

 

Year Ended

June 30,

2011

June 30,

2010

Rupees

Income
Net gain on sale of marketable securities423,337,809134,222,723
Net unrealised gain / (loss) on investments at fair value through
profit or loss – held-for-trading80,789,713(153,886,537)
———–———–
Net gain / (loss) on investment in marketable securities504,127,522(19,663,814)
Dividend income184,340,167117,566,110
Return/ Mark-up on:
bank deposits44,701,14867,716,869
———–———–
Investment in debt securities (available-for- sale) -5,162,421
provision against mark-up on term finance certificate - (906,103)
 ———– ———–
 -4,256,318
Amortization of discount on available-for-sale investments - 1,738,982
———–———–
733,168,837171,614,465
Expenses
Remuneration to the Management Company61,817,16066,425,197
Remuneration to the Trustee2,710,8242,849,081
Annual fee to Securities and Exchange Commission of Pakistan2,936,3153,155,197
Provision against financial assets (held-for-trading) -42,649,553
Provision against financial assets (available-for-sale)13,312,80021,548,037
Securities transaction cost13,070,576 7,748,487
Auditors’ remuneration 675,000684,154
Amortization of formation cost297,000324,000
(Reversal) / provision against Worker’s Welfare Fund(480,642)480,642
Other expenses3,948,1852,198,666
 ———–———–
98,287,218148,063,014
———–———–
Profit for the year634,881,61923,551,451
 ———– ———–
Earnings per certificate – basic and diluted2.12 0.08

 

For more information, contact:
Suleman Lalani
Chief Financial Officer and Company Secretary
JS Investments Limited
7/F, The Forum,
Block 9, Clifton,
Karachi, Pakistan.
www.jsit.com
UAN: (+92-21) 111-222-626
Fax: (+92-21) 3536 1724