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Arif Habib Investments Limited’s Metrobank – Pakistan sovereign fund –perpetual (MSF-Perpetual) financial results for the year ended 30th June 2011

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by September 21, 2011 Financial Results

Karachi: We are pleased to inform you that the Board of Director of Arif Habib Investments Limited (AHI), the Management Company of MSF (Perpetual) in its meeting held on 20th September 2011, at 04:00 p.m. at MCB House, 15- Main Gulberg Lahore, has approved the following financial results for the year ended 30th June 2011:

 

2011

2010

(Rupees)

Income
Income from investments in government securities 200,905,419 185,438,489
Capital loss on sale of government securities (19,386,459)  (4,494,252)
Gain on redemption of units of Sub-Scheme  – 412,352
Unrealised appreciation / (diminution) in value of investments’ classified
As at fair value through profit or loss’ 7,907,240  (5,485,854)
Income from reverse repurchase transactions of government securities  322,895 891,737
Dividend Income 1,800,835
Profit on bank deposits 2,347,677 2,870,822
———–  ———–
Total Income 193,897,607 179,633,284
Operating Expenses
Remunerations o the Management Company 20,345,500 13,330,424
Remunerations of Trustees 1,914,238 2,773,353
Annual Fee – Securities and Exchange Commission of Pakistan  1,213,157 1,196,616
Brokerage  403,300 292,176
Bank charges 167,467 82,344
Printing and publication charges 159,542 137,053
Fees and subscriptions 148,918  61,759
Legal and professional charges 93,098 145,889
Auditors’ remuneration 468,227 405,180
 ———–  ———–
Total operating Expenses 24,913,447 18,414,774
Net income from operating activities 168,984,160 161,218,510
Element of income / (loss) and capital gains / (losses) included in the prices
Of units issued less those in units redeemed  47,263,343  (14,639,948)
———–  ———–
Net income for the year before taxation 216,247,503  146,524,562
Taxation  –  –
———–  ———–
Net income for the year after taxation 216,247,503 146,524,562
Other comprehensive income for the year
Unrealised surplus in value of investments classified as ‘available for sale’- net 1,860,219
Reclassification of unrealised diminution upon disposal of investments 3240,541
———–  ———–
classified as ‘available for sale’
Total comprehensive income for the year 219,488,044 148,384,781

 

Earnings per unit

EPU is not disclosed as the determination of weighted average units for calculating EPU in not practicable.

Metrobank -Pakistan Sovereign Fund –December 2012 (MSF-12/12) Financial Results for the Year Ended 30th June 2011

We are pleased to inform you that the Board of Director of Arif Habib Investments Limited, the Management Company of MSF (12/12) in its meeting held on 20th September 2011, at 04:00 p.m. at MCB House, 15- Main Gulberg Lahore, has approved the following financial results for the year ended 30th June 2011:

 

2011 2010
(Rupees)
Income
Income from investments in government securities 13,822,122 5,908,222
Income from reverse repurchase transactions  – 31,500
Profit on bank deposits 227,527 144,352
Capital loss on sale of government securities (2,827)
Unrealised diminution in value of investments classified as at fair value through profit or loss’  (1,344,275) (449,374)
 ———-  ———-
Total Income 12,702,547 9,634,700
Operating Expenses
Remuneration of the Management Company 1,384,140 745,523
Remuneration of Trustees 135,985 139,683
Annual Fee – Securities and Exchange Commission of Pakistan 86,433 63,612
Brokerage 1,300 5,975
Printing and publications  101,149 8,555
Fees and subscriptions 3,215  8,010
Bank charges  17,366
Legal and professional charges   6,546 9,219
Auditors’ remuneration 35,004 20,732
  ———-  ———-
Total expenses  1,680,240 1,001,309
———-  ———-
Net income from operating activities 11,022,307 8,633,391
Element of income / (loss) and capital gains/ (losses) included in the prices of units issued less those in units redeemed  (1,377,375) 15,090,985
———-  ———-
Net income for the year before taxation 9,644,932 23,724,376
Taxation
 ———-  ———-
Net income for the year after taxation 9,644,932  23,724,376
Other comprehensive income for the year
Unrealised surplus in value of
investments classified as ‘available for sale- net 25,907
Reclassification of unrealised diminution upon disposal

of investments

 25,186  –
classified as ‘available for sale’
 ———- ———-
Total comprehensive income for the year 9,670,118 23,750,263

 

Earnings per unit

EPU is not disclosed as the determination of weighted average units for calculating EPU in not practicable.

Metrobank -Pakistan Sovereign Fund (MSF) Financial Results for the Year Ended 30th June 2011

We are pleased to inform you that the Board of Director of Arif Habib Investments Limited, the Management Company of MCB DAF in its meeting held on 20th September 2011, at 04:00 p.m. at MCB House, 15- Main Gulberg Lahore, has approved the following financial results for the year ended 30th June 2011:

 

2011

2010

(Rupees)

Income
Income from investment in government securities 214,727,541 195,346,711
Capital loss on sale of government securities (19,389,286) (4,494,252)
Unrealised diminution in value of investments
Classified as ‘at fair Value through profit or loss  (1,572,708) (14,101,758)
Income from reverse repurchase transactions of government securities  322,895 923,237
Profit on bank deposits 2,575,204 3,015,174
 ———–   ———–
Total income 196,663,646 130,669,112
Operating Expenses
Remuneration of the Management Company 21,729,640 14,075,947
Remuneration of Trustees 2,050,223 2,913,036
Annual Fee – Securities and Exchange Commission of Pakistan 1,299,590 1,260,228
Brokerage 404,600 298,151
Bank charges 184,835 82,344
Printing and publication charges  169,691 145,508
Fees and subscription 152,133 59,769
Legal and professional charges 99,744 155,088
Auditors’ remuneration 503,231 425,912
 ———– ———–
Total operating expenses 26,593,587 19,416,083
———– ———–
Net income from operating activities 170,069,959 161,273,029
Element of Income / (loss) and capital gains / (losses) included in the prices of units issued less those in units redeemed  47,252,735 (14,688,687)
 ———–  ———–
Net Income for the year before taxation 217,322,594 146,584,342
Taxation  –  –
 ———–  ———–
Net Income for the year after taxation 217,322,694 146,584,342
 ———– ———–
Other comprehensive income/ (loss) for the year
Unrealised surplus in value of investments classified as ‘available for sale’ – net 1,886,126
Reclassification of unrealised deficit upon disposal of investments
classified s ‘available for sale’ 3,265,727  –
———– ———–
Total comprehensive income for the year 220,588,421 148,470,468

 

Pakistan Income Fund (PIF) Financial Results for the Year Ended 30th June 2011

We are pleased to inform you that the Board of Director of Arif Habib Investments Limited, the Management Company of PIF in its meeting held on Tuesday, 20th September 2011, at 04:00 p.m. at MCB House, 15- Main Gulberg Lahore, has approved the following financial results for the year ended 30th June 2011:

 

2011

2010

(Rupees)

Income
Capital gain on sale of investment -net  3,504 26,711
Income from term finance and sukuk certificates 106,739 158,455
Income from governments securities 151,243 113,030
Income from placements 673 7,317
Income from certificates of investments 1,856
Income from term deposit receipts 7,236 19,981
Income from reverse repurchase transactions 1,160
Profit on bank deposits  3,043 8,562
 ——-  ——-
272,438  337,072
Unrealised (diminution) / appreciation in value

of investments ‘at fair value through profit or loss’ -net

(2,801) 13,403
‘revision against non performing exposures (1,934)  (2,471)
Reversal of income from term finance and Sukuk certificates  –  (382)
 ——- ——-
Total income  267,704 347,622
Expenses
Remuneration of the Management Company 29,667 34,815
Remuneration of Central Depository company of

Pakistan Limited-Trustee

2,763 3,321
Annual fee – Securities and Exchange Commission of Pakistan 1,483 1,741
Securities transaction cost 223 690
Settlement and bank charges 475 1,229
Fees and subscription 258  258
Legal and professional charges 77  83
Auditors’ remuneration 533 496
Printing and related costs 172 141
  ——-  ——-
Total expenses 35,651 42,774
Element of income/ (loss) and capital gains/ (losses) included in prices of units issued less those in units redeemed  (15,924) (21,131)
——- ——-
Net income for the year 216,218 283,717

 

Earnings / (loss) per unit has not been disclosed us in the opinion of the management, determination of weighted average number of units for calculating earnings / (loss) per unit is not practicable.

Pakistan Strategic Allocation Fund Financial Results for the Year Ended 30th June 2011

We are pleased to inform you that the Board of Director of Arif Habib Investments Limited, the Management Company of PSAF in its meeting held on 20th September 2011, at 04:00 p.m. at MCB House, 15- Main Gulberg Lahore, has approved the following financial results for the year ended 30th June 2011:

 

2011

2010

(Rupees)

Income
Capital gain on sale investments- net 172,621 288,515
Income from government securities  54,537  47,059
Income from placements with financial institutions  616  6,015
Income from term finance certificates  – 4,906
Income from reverse repurchase transactions  –  3,227
Dividend income 82,867 119,414
Profit on bank deposits 8,144 16,183
Other income  –  70
 ——-  ——-
318,785 485,389
Impairment loss on financial assets classified as ‘available for sale’  (1,972) (1,589)
Element of income / (loss) and capital gains/ (losses) included in prices of units issued less those units redeemed (225,425)
Unrealised appreciation / (diminution) on revaluation of investments

‘at fair value through profit or loss’ – net

 72,803 (29,777)
 ——-  ——-
Total income 164,191 454,023
Operating expenses
Remuneration of the Management company 31,271 55,593
Remuneration of Central Depository Company of
Pakistan Limited – Trustee 2,122 2,439
Annual fee – Securities and Exchange Commission of Pakistan 1,485 2,477
Securities transaction cost 5,482   6,281
Conversion cost 7,600  –
Custody, settlement and bank charges 612 1,031
Fees and subscription  644 345
Printing and related cost 298  289
Auditors’ remuneration 383 384
Amortization of preliminary and flotation costs  – 731
——- ——-
Total operating expenses 49,897  69,570
 ——-  ——-
Net income for the year  114,294 384,453
Taxation   –  –
 ——-  ——-
Net income after taxation 114,394 384,453
Other comprehensive income for the year
Unrealised (diminution) / appreciation in value of investments
Classified ‘available for sale’  (36,626) 10,152
 ——-  ——-
Total comprehensive income for the year 722,892 394,605

 

Earnings per unit (EPU) is not disclosed as the management is of the opinion that calculation of weighted average.

We are please to inform you that the Board of Directors of Arif Habib Investments Limited the Management Company of PIEIF in as meeting held on 20th September 2011 at 04:00 p.m. at MCB House, 15 – Main Gulberg, Lahore has approved the following financial results for the year ended 30th June 2011:

 

30 June

30 June

2011

2010

(Rupees in ‘000)

Income
Capital Gain / (Loss) on sale of investments – net  33,350  78,259
Exchange gain realised on sale of foreign investments  – 7,618
Profit on saving bank deposits 4,341  4,937
Dividend income 21,429 20,214
Income from investment in sukuk bonds 1,580 3,349
Income from investment in ijarah finance 1,584  –
Unrealised diminution in the value of investments – net 12,826  (33,075)
  ——  ——
Total income 75,110 81,302
Expenses
Remuneration of Management Company 10,841 15,197
Remuneration of Central Depository Company of
Pakistan Limited – Trustee 786 1,098
Annual fee – Securities and Exchange Commission of Pakistan 373  522
Securities transaction cost  1,098 1,710
Securities transaction charges 218 1,400
Fees and subscriptions  248  148
Auditors’ remuneration 383 517
Prating and related cost 214 198
Professional charges  52 103
Amortisation of preliminary expenses and floatation costs 1,370 1,650
Other expenses 56
  ——  ——
Total expenses 15,639 22,543
 ——  ——
Net income from operating activities 59,471  58,759
Net element of income / (loss) and capital gains / (losses)
included in prices of units issued less those in units redeemed 1,205  9,386
—— ——
Net income / (loss) carried forward for distribution 60,676 68,145

 

Earnings per unit (EPU) is not disclosed as the management is of the opinion that calculation of weighted average number of units is impracticable.

Pakistan Capital Market Fund (PCM)

Financial Result for the Year Ended 30th June 2011

We are pleased to inform you that the board of Directors of Arif Habib Investments Limited the Management Company of PCM in its meeting held on 20th September 2011 at 04:00 p.m. at MCB House, 15 – main Gulberg Lahore has approved the following financial for the year ended 30th June 2011:

 

Year Ended

Year Ended

30th June

30th June

(Rupees in ‘000)

Income 17,442  90,273
Capital gain on sale of investments – net 15,352  2,925
Income from investment in government securities 6,453 13,801
Income from term finance certificates  – 43
Income from placements with financial institutions 2,544 3,649
Income from preference shares 13,891 25,047
Dividend income  1,997 6,342
 ——  ——
Profit on bank deposits 57,679 142,080
Unrealized appreciation / (diminution) on re-measurement of investments classified as financial asset at fair value through profit or loss 18,833 (1,127)
Provision against non – performing exposure  –  (2,471)
 —— ——-
76,512 138,482
Impairment loss on financial assets classified as ‘available for sale’ (654)  (1,032)
Reversal of income from non – performing term finance certificates
and sukuk bonds 2,471 (382)
——  ——-
Total income 78,329  137,068
Operating Expenses
Remuneration of Arif Habib Investments Limited – Management Company 8,611 10,388
Remuneration of Central Depository Company of Pakistan
Limited – Trustee 861 1,039
Annual fee – Securities and Exchange Commission of Pakistan 366 463
Securities transaction cost 909 1,335
Bank charges  66 64
Fees and subscriptions 258 507
Legal and professional charges   62 60
Auditors’ remuneration 481 422
Amortisation of conversion cost 575 1,468
Printing Charges 378  255
 ——  ——-
Total Operating expenses 12,567 16,001
 —— ——-
Net income from operating activities 65,762 121,067
Element of income / (loss) and capital gain/ (losses) for the year
included in prices of units issued less those in units
redeemed – realized  (23,137)  19,874
 —— ——-
Net income for the year before taxation 42,625 140,941
Taxation  –  –
 ——  ——-
Net income for the year after taxation 42,625 140,941
Other comprehensive income
Not unrealised diminution on re-measurement of investments classified as ‘available for sale’  (8,087) (13,445)
 ——  ——-
Total comprehensive income for the year 34,538 127,496

 

EPU is not disclosed as the determination of weighted average units for calculating EPU is not practicable.

AH Dow Jones Safe Pakistan Titans 15 Index Fund

Financial Results for the Period from 16 August 2010 to 30 June 2011

We are pleased to inform you that the board of Directors of Arif Habib Investments Limited, the Management Company of AH Dow Jones Safe Pakistan Titans 15 Index Fund (the Fund) in its meeting held on 20th September, 2011 at 04:00 p.m. at MCB House, 15 – main Gulberg Lahore has approved the following financial for the year ended 30th June 2011:

 

(Rupees in ‘000)

Income
Profit on bank deposits 422
Dividend income  5,180
Gain on sale of investments – net   2,080
Unrealized Gain on securities classified as ‘at fair value through profit or loss’  11,815
——
Total income 19,497
Expenses
Remuneration of Management Company  846
Remuneration of MCB Financial Services Limited – Trustee 497
Annual fee – Securities and Exchange Commission of Pakistan 80
Settlement and Bank charges  155
Fees and subscriptions  419
Auditors’ remuneration 323
Brokerage and FED charges  80
Annual listing Fee  75
Professional charges 105
Printing and related cost 142
 ——
Amortisation of preliminary expenses and floatation costs 2,722
 ——
Total expenses 16,775
Net income from operating activities
Net element of income and capital gains included in prices
of units issued less those in units redeemed 198
 ——
Net income carried forward for distribution 16,973
Other comprehensive (loss)/ income for the year  –
 ——
Total comprehensive income for the year 16,973

 

Earnings per unit (EPU) is not disclosed as the management is of the opinion that calculation of weighted average number of units is impracticable.

With reference to our letter No. FIN-11/12/AMC/Sept-1 dated 12th September, 2011, this is to inform you that the meeting of the Board of Directors of Arif Habib Investments Limited was held on Tuesday, 20111 September, 2011 at 4:00 p.m. at MCB House 15-Main Gulberg Lahore.

After the approval of audited annual financial statements of the Collective Investment Schemes under management of the Company, the meeting was adjourned for Thursday, 29″ September, 2011 at 4:00 p.m. at MCB House 15-Main Gulberg, Lahore. The Financial Statements of AHIL will he considered for approval by Board at the above mentioned date.

Further, it is hereby notified that in compliance with the clause xxvi of the Code of Corporate Governance, Closed Period is hereby extended till 29th September, 2011 for Arif Habib Investments Limited prior to the announcement of results for the period ended 30th June, 2011.

Pakistan Stock Market Fund

Financial Result for the year Ended 30 June 2011

We are pleased to inform you that the Board of Directors of Arif Habib Investments Limited, (The Management Company) of Pakistan Stock Market Fund, (The Management Company) of Pakistan Stock Market Fund (PSM) in its meeting hold on Tuesday, 20th September, 2011 at 4:00 p.m. at MCB House 15-Main Gulberg Lahore approved the following financial results for the year ended 30th June 2011.

 

2011

2010

(Rupees in ‘000)

Income
Capital gain on sale of investments 150,391 315,443
Dividend income 80,373 95,730
Income from government securities  21,682 9,443
Profit on bank deposits 4,407 22,180
Income from placements with financial institutions  – 7,848
Impairment loss on financial assets classified as ‘available for sale’  (970)  (1,874)
Unrealised appreciation in value of investments
At fair value through profit or loss – net 111,039 57,061
 ——- ——-
Total income 366,922 505,831
Expenses
Remuneration of the Management Company 31,084 43,150
Remuneration of Central Depository Company of Pakistan Limited – Trustee  2,554 3,158
Annual fee – Securities and Exchange Commission of Pakistan 1,487  2,050
Securities transaction cost  3,533 5,306
Settlement and bank charges  379  632
Fees and subscriptions 207 207
Legal and professional charges 100 123
Auditors’ remuneration 474  401
Printing and related costs 264  296
——- ——-
Total expenses  40,082 55,323
  ——- ——-
326,840 450,508
Net element of income / (loss) and capital gain/ (losses) for the year
included in prices of units issued less those in units redeemed – realized  (70,885) (65,272)
——- ——-
Net income for the year 255,955 385,236
Other comprehensive (loss)/ income for the year
Net element of income/ (loss) and capital gain/ (losses) for the year
included in prices of units issued less those in units  (24,307) (23,562)
redeemed-amount representing unrealized appreciation/ (diminution)
Unrealised (diminution)/ appreciation in value of investments

classified as ‘available for sale’

 (11,489) 23,210
——-  ——-
Total comprehensive income for the year  220,159 384,884

 

Earnings per unit (EPU) is not disclosed as determination of weighted average units for calculating EPU is not printed financial statements for distribution amongst the members of the Exchange of the Exchange will be sent later.

For more information, contact:
Muhammad Saqib Saleem
Chief Financial Officer and
Company Secretary
Arif Habib Investments Limited
8th floor, Techno City Corporate Tower,
Hasrat Mohani Road, Karachi
UAN: (+92-21) 11-11-622-24
Toll Free: 0800-622-24,
Fax: (+92-21) 32276898

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