KASB Funds Limited’s financial results for the year ended June 30, 2011, for AMZ Plus income fund under the management

Karachi: We have to inform you that the Board of Directors KASB Funds Limited (KFL) (Management Company or AMZ Plus Income Fund in its meeting held on Thursday, September 15, 2011 at 04:00 pm (PST) at the Board Room, 5th Floor, Trade Centre, I.I. Chundrigar Road, Karachi, approved the Condensed Financial Statements (Audited) of AMZ Plus Income Fund for the year ended June 30, 2011.

The financial results of AMZ Plus Income Fund for the year ended June 30, 2011 are enclosed as Annexure – A to this letter.

Annexure – A

Income Statement for the Year Ended 30 June 2011

 

2011

2010

(Rupees in ’000’)

Income
Mark-up / interest income13,85546,936
Loss on sale of investment(16,130)(13)
Provision for impairment against investments classified as ‘held to maturity’(2,875) -
Provision for impairment against investments classified as ‘available for sale’(27,481) (55,089)
Provision for dividend receivable on preference shares-(2,505)
Element of income and capital gain included in prices of units sold less those in units redeemed – net7,0215,047
 ————
 (25,610)(5,624)
Expenses
Remuneration of the management company-5,060
Remuneration of the trustee-679
Annual fee to SECP-255
Amortization of preliminary expenses and
floatation costs- 630
Custody and settlement charges3021
Auditors’ remuneration 492336
Legal and professional charges175265
Fees and subscription40140
Printing expense73-
————
8107,386
 ————
Net loss for the year(26,420) (13,010)
 ————
Net asset value per unit- Rupees 59.9166.48

 

For more information, contact:
KASB Funds Limited
5th Floor, Trade Centre,
I. I. Chundrigar Road,
Karachi – 74200, Pakistan
UAN: +92 21 111 535 535
Fax: +92 21 3262 4635