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Wednesday, September 30th, 2020

KASB Funds Limited’s financial results for the year ended June 30, 2011, for KASB stock market fund under the management

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by September 16, 2011 Financial Results

Karachi: We have to inform you that the Board of Directors of KASB Funds Limited (KFL) (Management Company of KASB Stock Market Fund in its meeting held on Thursday, September 15, 2011 at 04:00 pm (PST) at the Board Room, 5th Floor, Trade Centre, I.I. Chundrigar Road, Karachi, approved the Condensed Financial Statements (Audited) of KASB Cash Fund for the year ended June 30, 2011.

The financial results of KASB Cash Fund for the year ended June 30, 2011 are enclosed as Annexure – A to this letter.

KASB Stock Market Fund

Income Statement For the year ended June 30, 2011

 

For the Period from July 20,

2011

2009 to June 30

2010

Rupees in 000

Income
Capital gain on sale of investments 31,157 83,468
Dividend income 8,652 9,290
Profit on bank deposits 4,430 3,080
Unrealized appreciation / (diminution) in fair

value of investments classified as at fair value

through profit or loss

 9,802  (18,272)
 ———  ———
Total Income 54,041 77,566
Expenses
Remuneration of KASB Funds Limited –

Management Company

6,267 7,327
Remuneration of Central Depository Company of

Pakistan Limited – Trustee

700 702
Annual fee – The Securities and Exchange
Commission of Pakistan 198 252
Transaction costs on securities 1,985 3,081
Settlement and bank charges 283 295
Legal and professional charges 848 468
Fees and subscription 140 140
Auditors’ remuneration 448  476
Amortization of preliminary expenses

and floatation costs

520 520
Printing expenses 120 96
Provision for Workers’ Welfare Fund 1,486
(Reversal) / provision against
non-performing investment (605) 16,000
——— ———
Total expenses 10,540 30,843
 ———  ———
 43,501 46,273
Net element of income / (loss) and capital gains /

(losses) for the year included in prices of units

issued less those in units redeemed

 (21,281)  27,562
——— ———
Net income for the year 22,220 74,285
  ——— ———

As at

June 30

2011 2010
Net asset value per unit 29.37 36.53

 

Notes:

1. Earning per unit (EPU) has not been disclosed as in the opinion of the management, determination of weighted average number of units for calculating EPU is not practicable. However, net asset value per unit has been disclosed above.

For more information, contact:
KASB Funds Limited
5th Floor, Trade Centre
I.I. Chundrigar Road
Karachi – 74200, Pakistan
UAN: +92-21-11535-535
Fax: +92-21-3262-4635

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