Karachi: We have to inform you that the Board of Directors of IGI Funds Limited, the Management Company of IGI Aggressive Income in their meeting held on Tuesday, August 23, 2011, has approved the financial statements of IGI Aggressive Income Fund for the year ended June 30, 2011. The Financial Results are as follows;
IGI Aggressive Income Fund (Formerly POBOP Advantage Plus Fund)
Income Statement
For the year ended 30 June 2011
2011 |
2010 |
|
(Rupees in `000) |
||
Income | ||
Financial income | 80,784 | 97,500 |
Net capital (losses) / gains on sale of investments classified as `at | ||
fair value through profit or loss – held for trading | (19,495) | 2,508 |
Net unrealised appreciation / (diminution) in fair value of | ||
investments classified as `at fair value through profit or loss- held | ||
for trading’ | 7,623 | (18,923) |
Provision for non performing term finance certificates and sukuk | ||
certificates classified as held for trading and interest accrued | ||
thereon | (135,374) | (200,158) |
Provision for impairment of placement with financial Institution | (2,000) | (28,000) |
Reversal for impairment in valuation of investments classified | ||
as `held to maturity’ | – | 106,318 |
Element of Income [(losses) and capital gains / (losses) included in | ||
prices of units sold less those in units redeemed – net | 3 | (9,271) |
——- | ——- | |
Total Income | (68,459) | (50,026) |
Expenses | ||
Remuneration to the Management Company | 15,106 | 19,076 |
Remuneration to the Trustee | 1,399 | 1,833 |
Annual fee to the Securities and Exchange Commission of Pakistan | 566 | 715 |
Brokerage expense | 136 | 73 |
Bank and settlement charges | 17 | 185 |
Amortisation of deferred formation cost | 665 | 746 |
Auditors’ remuneration | 533 | 670 |
Legal and professional charges | 421 | – |
National Clearing Company of Pakistan Limited charges | 30 | – |
CDS transaction fee | 6 | – |
Annual listing fee | 40 | – |
Printing charges | 99 | – |
Stability rating fee | 200 | 158 |
Workers’ Welfare Fund | – | 103 |
Others | 43 | – |
——- | ——- | |
Total expenses | 19,261 | 23,559 |
——- | ——- | |
Net loss for the year | (87,720) | (73,585) |
For more information, Contact:
Abdul Qadir
Company Secretary
IGI Aggressive Income Fund Limited
7th Floor, The Forum Suite No. 701-713,
G-20, Khayban-e-Jami Block – 9,
Clifton, Karachi – 75600,
Pakistan.
UAN: +92-21-111-367-444
Fax: +92-21-3530-6742