Al Meezan Investment Management Limited (Al Meezan) is pleased to announce an interim payout of Rs. Rs. 1.50 per unit i.e., 3% of the par value Rs. 50/- for Meezan Cash Fund (MCF) for the quarter ended March 31, 2010. The payouts are in the form of Bonus Units to the Growth Unit holders and Cash Dividend to the Income Unit holders.

 

A Growth Unit holder having 100 units of MCF as at March 31, 2010 will get 2.9721 additional units at the ex-div. NAV of Rs. 50.47 while an Income Unit holder will get Cash Dividend of Rs. 1.50 per unit.

 

Meezan Cash Fund (MCF) is the first Shariah compliant open end money market fund in Pakistan. It was launched in June 2009 with an aim of providing a stable and Halal returns avoiding volatility of both long-term fixed income securities and stock market. At the close of the quarter ended March 31, 2010, the net assets MCF were Rs. 4,802 million.

 

Al Meezan is the only full-fledged Shariah complaint asset management company in Pakistan, with AM2 Management Quality Rating managing over 18.2 billion assets under management.  Due to its prudent fund management, Al Meezan has not only been able to retain its existing investors but also managed to increase the investor base. This success is reflective of the confidence and trust of both individual and institutional investors.