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Karachi: We have to inform you that the Board of Directors of Atlas Asset Management Limited (AAML), the Management Company of Atlas Income Fund (AIF), in their meeting held on Tuesday, April 24, 2012 at 11:00 a.m. at Ground Floor, Federation House, Sharae Firdousi, Clifton, Karachi announced the following results of AIF for the nine months ended March 31, 2012:
i) Cash dividend Rs. Nil
ii) Bonus issue Nil
iii ) Right issue Nil
The financial results of AIF are as follows:
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For the nine months ended |
For the quarter ended |
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|
March 31, |
March 31, |
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|
2012 |
2011 |
2012 |
2011 |
|
|
Un-audited |
Un-audited |
Un-audited |
Un-audited |
|
|
Rupees |
||||
| Income | ||||
| Interest income | ||||
| Net gain / (loss) on investments designated at | 89,697,984 | 98,948,067 | 37,123,865 | 31,535,525 |
| ———- | ———- | ———- | ———- | |
| fair value through income statement | ||||
| Net gain / (loss) on sale of investments | 191,926 | (315,819) | – | 768,336 |
| Net unrealised loss on revaluation of investments | (52,480,456) | (35,494,177) | (12,176,828) | (11,301,124) |
| ———- | ———- | ———- | ———- | |
| (52,288,530) | (35,809,996) | (12,176,828) | (10,532,788) | |
| Other income | 19,012 | – | – | – |
| Element of (loss) / income and capital (losses) / gains included in | ||||
| prices of units issued less those in units redeemed – net | (1,182,116) | (4,697,332) | 652,079 | (2,520,825) |
| ———- | ———- | ———- | ———- | |
| 36,246,350 | 58,440,739 | 25,599,116 | 18,481,912 | |
| Expenses | ||||
| Remuneration of the Management Company | 8,808,182 | 11,293,105 | 3,160,532 | 2,933,341 |
| Sindh Sales Tax on Remuneration of the Management Company | 1,409,309 | – | 505,685 | – |
| Remuneration of the trustee | 998,268 | 1,462,496 | 358,195 | 401,075 |
| SECP annual fee | 440,411 | 596,245 | 158,025 | 178,256 |
| Annual rating fee | 150,000 | 150,000 | 50,000 | 40,000 |
| Annual listing fee | 30,000 | 30,000 | 10,000 | 10,000 |
| Securities transaction cost | 139,988 | 206,026 | 46,988 | 45,428 |
| Auditors’ remuneration | 390,488 | 487,945 | 131,750 | 160,274 |
| Printing charges | 39,140 | 65,391 | 18,894 | 41,966 |
| Legal and professional charges | – | 70,000 | – | – |
| Bank charges | 19,112 | 50,879 | 5,247 | 11,936 |
| Provision for Workers’ Welfare Fund | 476,429 | 880,573 | 423,076 | 293,193 |
| ———- | ———- | ———- | ———- | |
| 12,901,327 | 15,292,660 | 4,868,392 | 4,115,469 | |
| ———- | ———- | ———- | ———- | |
| Net income for the period | 23,345,023 | 43,148,079 | 20,730,724 | 14,366,443 |
For more information Contact:
Lilly R. Dossabhoy
Company Secretary
Atlas Asset Management Limited
Ground Floor, Federation House,
Shahrah-e-Firdausi, Clifton,
Karachi- 75600, Pakistan.
Ph: (92-21) 35379501- 04
Fax: (92-21) 35379280
UAN: 111- MUTUAL (6-888-25)
Website: www.atlasfunds.com.pk