Meezan Family of Funds announces Interim Payout of Rs. 5,250 million during FY 2013-14
Al Meezan Investment Management Ltd. (Al Meezan) has announced interim payouts of Rs.3,566 million for its unit holders in nine open-end funds last week. This makes total distribution of Rs. 5,250 for 11 months of the current financial year ending June 30, 2014 after incorporating interim payouts of Rs.1,684 million made earlier during the year.
Total assets under management of Al Meezan grew from Rs. 45.38 billion to Rs. 54.5 billion, depicting a remarkable growth of 20.09% from FY 2013 to date.
Mr. Mohammad Shoaib, CFA, CEO of Al Meezan thanked the investors for reposing their trust and confidence in the fund management capabilities of Al Meezan team and, making it the leading asset management company in the private sector.
The details of the interim payouts made last week and todate in current fiscal year are as follows:
| Funds | Interim Payouts1(Rs. per unit on face value of Rs. 50) | Payout as a % of opening Ex- NAV at beginning of the year | Bonus Units per 100 Units held on May 29, 2014*** | Previous interim payouts during the year (Rs. per unit on face value of Rs. 50) | Fund Return % for FYTD 2014* |
| Equity Funds | |||||
| Meezan Islamic Fund | 7.65 | 17.03 | 15.4733 | – | 28.57 |
| Al Meezan Mutual Fund # | 2.40 | 19.06 | 17.5824 | – | 28.95 |
| KSE Meezan Index Fund | 9.80 | 17.03 | 15.8833 | – | 24.88 |
| Balanced and Capital Protected Funds | |||||
| Meezan Balanced Fund # | 2.25 | 17.23 | 17.0584 | – | 18.77 |
| Meezan Capital Protected Fund – II | 5.65 | 10.81 | 10.7722 | – | 11.57 |
| Income Funds | |||||
| Meezan Islamic Income Fund | 1.28 | 2.55 | 2.5600 | 3.50 | 10.13 |
| Meezan Sovereign Fund | 1.05 | 2.10 | 2.0891 | 2.64 | 8.72 |
| Money Market Funds | |||||
| Meezan Cash Funds | No payout | 2.92 | 7.11 | ||
| Fund of Funds | |||||
| Meezan Financial Planning Fund | |||||
| Aggressive | 4.25 | 8.05 | 7.1453 | – | 21.59 |
| Moderate | 3.90 | 7.56 | 6.9519 | – | 16.89 |
| Conservative | 2.05 | 4.00 | 3.7084 | – | 12.16 |
| Meezan Capital Preservation Fund – III** | 0.44 | 0.88 | 0.8542 | – | 3.72 |
*For the period ended June 4, 2014
**The fund was launched on January 31, 2014
*** Proportionate will apply to actual holdings. Bonus units will be reflected in your account statement
1 For the period ended May 29 ,2014
#Face Value-Rs. 10
-Unit holder who have opted for cash payout will receive cash dividend accordingly
Meezan Islamic Fund (MIF)
Meezan Islamic Fund (MIF) is Pakistan’s largest open-end equity fund in the private sector, with net assets under management Rs. 15,743 million. The fund has declared an Interim Payout of Rs.7.65 per unit for FY 2013-14. The FYTD return of the Fund was 28.57%.
Al Meezan Mutual Fund (AMMF)
Al Meezan Mutual Fund (AMMF), is a Sharia’h compliant open-end equity fund in the private sector in Pakistan with the longest track record. This Fund was converted from closed end to open end on August 05, 2011. Net Assets under management of the Fund are Rs. 2,776 million. The fund has declared an Interim payout of Rs.2.40 per unit for FY 2013-14. The FYTD return of the Fund was 28.95%.
KSE Meezan Index Fund (KMIF)
KSE Meezan Index Fund (KMIF) is Pakistan’s first Sharia’h compliant open-end index tracker Fund. Net Assets under management of the Fund are over Rs. 901 million. The Fund has declared an Interim Payout of Rs.9.80 per unit for FY 2013-14. The FYTD return of the Fund was 24.88%.
Meezan Islamic Income Fund (MIIF)
Meezan Islamic Income Fund (MIIF) is Pakistan’s first Sharia’h compliant open-end income fund. Current Assets under management of the fund are Rs.4.836 million. The fund has declared an interim payout of Rs. 1.28 per unit. This is in addition to an interim payout of Rs. 3.50 per unit, taking the total payout to Rs. 4.78 per unit for FY 2013-14. The FYTD return of the Fund was 10.13%.
Meezan Balanced Fund (MBF)
Meezan Balanced Fund (MBF) is Pakistan’s first Sharia’h compliant closed-end balanced scheme which was converted to an open end fund with effect from July 01, 2013. Net Assets under management of the fund are Rs. 1,925 million. The fund has declared an Interim payout of Rs.2.25 per unit. The FYTD return of the Fund was 18.77%.
Meezan Capital Protected Fund-II (MCPF-II)
Meezan Capital Protected Fund-II (MCPF-II) is Pakistan’s second in series of Sharia’h compliant Capital Protected Funds. Nett Assets under management of the fund are Rs. 537 million. The fund has declared an Interim payout of Rs.5.65 per unit. The FYTD return of the Fund was 11.57%.
Meezan Sovereign Fund (MSF)
Meezan Sovereign Fund (MSF) is Pakistan’s first and the largest Sharia’h compliant open-end Government securities fund. Current Assets under management of the fund are Rs. 21,419 million. The Fund has declared an interim payout of Rs. 1.05 per unit. In addition to an interim dividend of Rs. 2.64 per unit taking the total payout to Rs. 3.69 per unit for FY 2013-14. The FYTD return of the Fund was 8.72%.Meezan Cash Fund (MCF)
Meezan Cash Fund (MCF) is Pakistan’s first and the largest Sharia’h compliant open-end money market fund. Current Assets under management of the fund are Rs. 3,735 million. The fund has not declared an interim payout but has previously provided interim dividend of Rs. 2.92 per unit for FY 2013-14. The FYTD return of the Fund was 7.11%. Meezan Financial Planning Fund (MFPF)
Meezan Financial Planning Fund (MFPF) is Pakistan’s first Sharia’h compliant open-end fund of funds. Current Assets under management of the fund are Rs. 893 million. The Fund has declared the following interim payout for its three allocation schemes.
| MFPF | Payouts* (Rs. Per Unit on face value o Rs. 50) | Total Return FYTD 2013-14 to date |
| MFPF- Aggressive Allocation Plan | 4.25 | 21.59% |
| MFPF- Moderate Allocation Plan | 3.90 | 16.89% |
| MFPF- Conservative Allocation Plan | 2.05 | 12.16% |
*For the period ended May 29, 2014
Meezan Capital Preservation Fund-III
Meezan Capital Preservation Fund (MCPF) is Pakistan’s largest open- end Shariah Compliant Fund of Funds Scheme. The fund was launched on January 31, 2014. Current Assets under management of the fund are Rs. 3,084 million. The fund has declared an Interim payout of Rs.0.44 per unit for 119 days. The total return of the fund from January 31 2014 to date stands at 3.72%.
By the grace of Almighty Allah and the valuable support and patronage of our investors, Al Meezan is the largest private sector asset management company in Pakistan with total assets under management of over Rs. 54 billion. It has AM2 rating by JCR-VIS denoting High Quality Management. Al Meezan offers a complete range of investment solutions to meet the varying investment needs of its investors which exceed 26,000 including over 400 institutional investors. Al Meezan is currently in the process of launching its second capital preservation fund namely, Meezan Capital Preservation Fund II.