KASB Funds Limited’s financial results for the year ended June 30, 2011, for KASB capital protected gold fund under the management

Karachi: We have to inform you that the Board of Directors of KASB Funds Limited (KFL) (Management Company of KASB Capital Protected Gold 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 KASB Capital Protected Gold Fund for the year ended June 30, 2011.

The financial results of KASB Capital Protected Gold Fund for the year ended June 30, 2011 are enclosed as Annexure – A to this letter.

KASB Capital Protected Gold Fund

Income Statement for the Year ended June 30, 2011

 

 

For the Period

from July 20,

2011

2009 to June 30

2010

Rupees in 000

Income
Income from term deposit receipts – capital protection segment45,01411,469
Profit on bank and other deposits7,6113,389
Capital gain on sale of investments8,7694,779
Unrealized diminution in fair value of investments

classified as at fur value through profit or loss

(807)(102)
 ——————
Total Income60,58719,535
Expenses
Remuneration of KASB funds Limited -
Management Company 8,5192,298
Remuneration of Central Depository Company of

Pakistan Limited – Trustee

 700198
Annual fee – The Securities and Exchange

Commission of Pakistan

365 98
Transaction costs on securities22152
Settlement and bank charges18244
Legal and professional charges 53 40
Fees and subscription300180
Auditors remuneration432 246
Amortization of preliminary expenses and
floatation costs1,026289
Provision for Workers’ Welfare Fund364281
Provision for Zakat5,9081,667
running and other expenses13082
 ——————
Total expenses18,2005,475
 ——— ———
 42,38714,060
Net realized element of income/ (loss) and capital gains / (losses) included in prices  of units issued less those in units redeemed (471)(1)
——————
Net income for the year period41,91614,059
——— ———
As at
June 30
20112010
Net asset value per unit109.49103.10

 

Note:

Earning per unit (EPU) has not been disclosed as in the opinion of the management, determination of weighted average number of units for calculating EPU is not practicable. However, net asset value per unit has been disclosed above.

 

For more information, contact:
KASB Funds Limited
5th Floor, Trade Centre
I.I. Chundrigar Road
Karachi – 74200, Pakistan
UAN: +92-21-11535-535
Fax: +92-21-3262-4635