Mr. Mohammad Shoaib, CFA, the CEO of Al Meezan Investment Management Limited (“Al Meezan”) under the authority delegated by the Board of the Company is pleased to announce interim payout of Rs. 181 crores for the unit holders of following Open End Funds / Plans for the year ended June 30, 2019.
Al Meezan, the largest Shariah Compliant Asset Management Company in Pakistan with the Highest Management Quality Rating of AM1 from both PACRA and JCR-VIS Credit Rating Company is presently managing sixteen Mutual Funds, a voluntary pension scheme and several investment and administrative plans. The detail of the payout is as follows:
Cash Dividend:
| S. No. | Funds | Payout per unit – Rs | Payout as % of par value of Rs. 50 each |
|---|---|---|---|
| 1. | Meezan Islamic Income Fund (“MIIF”) | 4.0472 | 8.09 |
| 2. | Meezan Cash Fund (“MCF”) | 3.9218 | 7.84 |
| 3. | Meezan Sovereign Fund (“MSF”) | 3.5911 | 7.18 |
Bonus Units:
| S. No. | Funds/Plans | Payout per unit – Rs | Payout as % of par value of Rs. 50 each |
|---|---|---|---|
| 1. | Meezan Gold Fund (“MGF”) | 5.90 | 11.80 |
| 2. | Meezan Financial Planning Fund of Funds (“MFPF”) | ||
| I. | Conservative Allocation Plan | 10.00 | 20.00 |
| II. | Moderate Allocation Plan | 7.00 | 14.00 |
The CEO also thanks the investors for reposing their trust and confidence in the fund management capabilities of Al Meezan team. Al Meezan with its vision to make Shariah Compliant Investing a First Choice of Investors, offers a complete range of Shariah Compliant investment solutions to meet the diverse investment needs of over 100,000 investors.