KASB Funds Limited’s financial results for the year ended June 30, 2011, for KASB capital protected gold fund under the management

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Karachi: We have to inform you that the Board of Directors of KASB Funds Limited (KFL) (Management Company of KASB Capital Protected Gold 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 Capital Protected Gold Fund for the year ended June 30, 2011.

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

KASB Capital Protected Gold 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
Income from term deposit receipts – capital protection segment	45,014	11,469
Profit on bank and other deposits	7,611	3,389
Capital gain on sale of investments	8,769	4,779
Unrealized diminution in fair value of investments classified as at fur value through profit or loss	(807)	(102)
	———	———
Total Income	60,587	19,535
Expenses
Remuneration of KASB funds Limited –
Management Company	8,519	2,298
Remuneration of Central Depository Company of Pakistan Limited – Trustee	700	198
Annual fee – The Securities and Exchange Commission of Pakistan	365	98
Transaction costs on securities	221	52
Settlement and bank charges	182	44
Legal and professional charges	53	40
Fees and subscription	300	180
Auditors remuneration	432	246
Amortization of preliminary expenses and
floatation costs	1,026	289
Provision for Workers’ Welfare Fund	364	281
Provision for Zakat	5,908	1,667
running and other expenses	130	82
	———	———
Total expenses	18,200	5,475
	———	———
	42,387	14,060
Net realized element of income/ (loss) and capital gains / (losses) included in prices  of units issued less those in units redeemed	(471)	(1)
	———	———
Net income for the year period	41,916	14,059
	———	———
	As at
	June 30
	2011	2010
Net asset value per unit	109.49	103.10

 

Note:

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