PICIC Asset Management Company Limited’s growth fund financial results for the year ended June 30, 2011

Karachi: We are pleased to inform you that the Board of Directors of PICIC Asset Management Company Limited (PICICAMC) in their 47th meeting held on September 09, 2011 at 12:00 a.m. at Karachi approved the audited financial statements of PICIC Growth Fund for the year ended June 30, 2011 and also approved the following:

 

1. Cash DividendFinal cash dividend @ 25.5%(i.e. Rs 2.55 per certificate)
2.Bonus CertificateNil
3.Right CertificateNil

 

The financial results of PICIC Growth Fund for the year ended June 30, 2011 are enclosed as per Annexure – A and Annexure – B.

The final cash dividend for the financial year ended June 30, 2011, will be paid to the certificate-holders whose names will appear in the register of members of PICIC Growth Fund, at close of business on Thursday, September 29, 2011. The Certificate Transfer Register of PICIC Growth Fund will remain close from September 30, 2011 to October 6, 2011 (both clays inclusive) for determining the enticement of final, cash dividend. Transfers received by our Registrar: Noble Computer Services (Pvt.) Limited, Mezzanine Floor, House of Habib Building (Siddiqsons Tower) 3-Jinnah Cooperative Housing Society, Main Shahrah-e-Faisal Karachi-75350, at close of business on Thursday, September 29, 2011 will he treated in time for the purpose of payment of dividend to the transferees.

PICIC Growth Fund Income Statement for the Year Ended June 30, 2011        Annexure A

 

2011

2010

Rupees in ‘000

Income
Capital loss on sale of investments – net850,844903,509
Dividend income460,178244,075
Net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through profit or loss’

44,791(480,082)
Profit on bank deposits65,146101,587
Other income -19
 ——————
Total Income1,420,959769,108
Operating Expenses
Remuneration of the Management Company155,191151,707
Remuneration of Central Depository Company of Pakistan – Trustee5,2555,168
Annual fee – Securities and Exchange Commission of Pakistan7,3727,206
Securities transaction costs25,55437,209
Auditors’ remuneration575563
Other expenses4,3794,303
 ——————
Total expenses198,326206,156
Net income from operating activities1,222,633562,952
Provision for Workers’ Welfare Fund(24,453)(11,259)
——————
Net income for the year before taxation1,198,180551,693
Taxation- -
 ——————
Net income for the year after taxation1,198,180551,693
 ——————
Earnings per certificate

Rupees

With net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through profit or loss’

 4.231.95
——————
Without net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through profit or loss

4.07 3.64

 

 

PICIC Asset Management Company Limited

PICIC Growth Fund Income Statement for the Year Ended June 30, 2011        Annexure B

 

20112010
Rupees in ‘000
Net income for the year after taxation1,198,180551,693
Other comprehensive (loss) / income for the year
Net unrealised (diminution) / appreciation on re-measurement of investments classified as ‘available for sale’(23,745) 429,690
——————
Total comprehensive income for the year1,174,435981,383

 

 

We are pleased to inform you that the Board of Directors of PICIC Asset Management Company Limited in their 47th meeting held on September 09, 2011 at 12:00 a.m. at Karachi approved the audited financial statements of PICIC Investment Fund for the year ended June 30, 2011 and also approved the following:

 

1. Cash Dividend.Final cash dividend @ 12.5% (i.e. Rs 1.25 per certificate)
2. Bonus Certificate Nil
3.Right CertificateNil

 

The financial results of PICIC Investment Fund for the year ended June 30, 2011 are enclosed as per Annexure – A and Annexure – B.

The final cash dividend for the financial year ended June 30, 2011, will be paid to the certificate-holders whose names will appear in the register of members of PICIC Investment Fund, at close of business on Thursday, September 29, 2011. The Certificate Transfer Register of PICIC Investment Fund will remain close from September 30, 2011 to October 6, 2011 (both clays inclusive) for determining the enticement of final, cash dividend. Transfers received by our Registrar: Noble Computer Services (Pvt.) Limited, Mezzanine Floor, House of Habib Building (Siddiqsons Tower) 3-Jinnah Cooperative Housing Society, Main Shahrah-e-Faisal Karachi-75350, at close of business on Thursday, September 29, 2011 will he treated in time for the purpose of payment of dividend to the transferees.

PICIC Investment Fund Income Statement for the Year Ended June 30, 2011   Annexure A

 

20112010
 Rupees in ‘000
Income
Capital gain on sale of investments – net456,945486,850
Dividend income216,046126,913
Net unrealised diminution on re-measurement of investments classified

as financial assets ‘at fair value through profit or loss’

 (389)(269,243)
Profit on bank deposits 36,87158,058
Other income-8
 ——-——-
Total income709,473 402,586
Expenses
Remuneration of the Management Company71,88771,816
Remuneration of Central Depository Company of Pakistan – Trustee 3,0323,029
Annual fee – Securities and Exchange Commission of Pakistan3,4153,411
Securities transaction costs13,767 20,851
Auditors’ remuneration554543
Other expenses 4,783 3,895
 ——-——-
Total expenses 97,438103,545
Net income from operating activities 612,035299,041
Provision for Workers’ Welfare Fund12,2415,981
 ——-——-
Net income for the year before taxation599,794293,060
Taxation--
 ——-——-
Net income for the year after taxation599,794293,060
——-——-
Earnings per certificate

Rupees

With net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through

profit or loss’

2.111.03
——- ——-
Without net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through

profit or loss’

2.111.98

 

 

PICIC Investment Fund Income Statement for the Year Ended June 30, 2011      Annexure B

 

2011

2010

Rupees in ‘000

Net income for the year after taxation 599,794293,060
Other comprehensive (loss) / income for the year
Net unrealised (diminution) / appreciation on re-measurement of

investments classified as ‘available for sale’

(578) 165,077
 ——- ——-
Total comprehensive income for the year599,216458,137

 

 

PICIC Energy Fund Financial Results for the Year Ended June 30, 2011

We are pleased to inform you that the Board of Directors of PICIC Asset Management Company Limited in their 47th meeting held on September 09, 2011 at 12:00 a.m. at Karachi approved the audited financial statements of PICIC Energy Fund for the year ended June 30, 2011 and also approved the following:

 

1.Cash Dividend.Final cash dividend @ 15% (i.e. Rs 1.50 per certificate)
2.Bonus Certificate Nil
3.Right Certificate Nil

 

 

The financial results of PICIC Energy Fund for the year ended June 30, 2011 are enclosed as per Annexure – A and Annexure – B.

The final cash dividend for the financial year ended June 30, 2011, will be paid to the certificate-holders whose names will appear in the register of members of PICIC Energy Fund, at close of business on Thursday, September 29, 2011. The Certificate Transfer Register of PICIC Energy Fund will remain close from September 30, 2011 to October 6, 2011 (both clays inclusive) for determining the enticement of final, cash dividend. Transfers received by our Registrar: Noble Computer Services (Pvt.) Limited, Mezzanine Floor, House of Habib Building (Siddiqsons Tower) 3-Jinnah Cooperative Housing Society, Main Shahrah-e-Faisal Karachi-75350, at close of business on Thursday, September 29, 2011 will he treated in time for the purpose of payment of dividend to the transferees.

PICIC Asset Management Company Limited

PICIC Energy Fund Income Statement for the Year Ended June 30, 2011      Annexure – A

 

2011

2010

Rupees in ‘000

Income
Capital gain on sale of investments – net206,564171,086
Dividend income88,84746,531
Net unrealised diminution on re-measurement of investments classified

as financial assets ‘at fair value through profit or loss’

20,660 (71,109)
Profit on bank deposits10,60013,551
 ——-——-
Total income326,671160,159
Expenses
Remuneration of the Management Company 27,07929,382
Remuneration of Central Depository Company of Pakistan – Trustee1,3231,259
Annual fee – Securities and Exchange Commission of Pakistan1,005930
Amortisation of preliminary expenses and floatation costs1,0002,000
Securities transaction costs3,6345,433
Auditors’ remuneration382368
Other expenses2,4201,956
 ——-——-
Total expenses 36,844 41,328
Net income from operating activities 289,827118,831
Provision for Workers’ Welfare Fund(5,797)(2,377)
——-——-
Net income for the year before taxation284,030116,454
Taxation - -
——-——-
Net income for the year after taxation284,030 116,454
——-——-
Earnings per certificateRupees
With net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through

profit or loss’

2.841.16
Without net unrealised appreciation / (diminution) on re-measurement of

investments classified as financial assets ‘at fair value through

profit or loss’

2.631.88

 

 

PICIC Asset Management Company Limited

PICIC Energy Fund Statement of Comprehensive Income for the Year Ended June 30, 2011     Annexure B

 

2011

2010

Rupees in ‘000

Net income for the year after taxation 284,030 116,454
Other comprehensive income for the year - -
——- ——-
Total comprehensive income for the year284,030116,454

 

For more information, contact:
Ahmed Raza
CFO and Company Secretary
PICIC Asset Management Company Limited
9th Floor, Muhammad House,
I.I. Chundrigar Road,
Karachi-74000,
Pakistan.
UAN: 111 PICIC (74242)
Tel: 0800-PICIC (74242)
Fax: 021-32418055-56
Email: customerservice@picicamc.com
Web: www.picicamc.com