Growth : Al Meezan announces interim payout
Al Meezan has announced interim payouts of Rs3,566 million for its unit holders in nine open-ended funds last week.
KARACHI:
Al Meezan Investment Management Limited (Al Meezan) has announced interim payouts of Rs3,566 million for its unit holders in nine open-ended funds last week. This makes the total distribution of Rs5,250 for 11 months of the current financial year ending June 30, 2014 after incorporating interim payouts of Rs1,684 million made earlier during the year. Total assets under management of Al Meezan grew from Rs45.38 billion to Rs54.5 billion, depicting a remarkable growth of 20.09% from FY 2013 to date. Al Meezan CEO Mohammad Shoaib thanked the investors for reposing their trust and confidence in the fund management capabilities of Al Meezan team and making it the leading asset management company in the private sector. Al Meezan is the largest private sector asset management company in Pakistan with total assets under management of over Rs54 billion. It has AM2 rating by JCR-VIS denoting High Quality Management.
Published in The Express Tribune, June 7th, 2014.
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