April 22, 2006	Saturday	Rabi-ul-Awwal 23, 1427

KARACHI, April 21: PICIC Asset Management Company on Friday approved accounts of PICIC Investment Fund (PIF), PICIC Growth Fund (PGF) and PICIC Energy Fund (PEF) for the quarter ended March 31, 2006.

For PIF, the board declared 3rd interim cash dividend of 15 per cent, and for PGF third interim cash dividend of 20 per cent.

In a press release, the company said that for the nine months ended on March 31, 2006, PIF and PGF had so far declared 40 per cent and 80 cent dividends, respectively. As on March 31, 2006 total income of PIF stood at Rs2,390 million compared to Rs1,534 million in the same period last year, a growth of 56 per cent. Net assets of PIF increased from Rs5,883 million on June 30, 2005 to Rs6,854 million on March 31, and net asset value (NAV) per certificate increased from Rs20.70 to Rs24.12.

As on March 31, 2006 total income of the PGF increased to Rs3,702 million as compared to Rs3,465 million in the same period last year, a growth of 7 per cent. The net assets of PGF increased from Rs9,047 million on June 30, 2005 to Rs11,197 million on March 31, 2006 and the NAV per certificate increased from Rs57.44 to Rs59.24 (after bonus).

During the period from January 20 to March 31, 2006, net income of PEF stood at Rs.98 million representing earning per certificate of Rs0.98. The net assets of the Fund stood at Rs1,098 million on March 31, 2006 and the NAV per certificate at Rs10.98.