April 26, 2008	Saturday	Rabi-us-Sani 19, 1429

KARACHI, April 25: JS Investments Limited or JSIL (formerly JS Abamco Limited) which holds Rs43 billion worth of assets under management, has reported an operating profit of Rs504.55 million for the nine months ended March 31, 2008, showing 51.52 per cent growth year-on-year.

Earning per share stood at Rs3.99, an increase of 88.20 per cent.

A press release issued by the Fund on Friday stated that the assets under management had grown by 44 per cent year-on-year basis and were spread across various mutual funds, pension funds and separately managed accounts.

The company announced dividend of Re1 per certificate for JS Growth Fund (formerly UTP Growth Fund). Interim dividends at Rs3 per share for JS Value Fund (formerly BSJS Balanced Fund) and Re1 per certificate for UTP Large Cap Fund had been earlier announced.

For nine months under review JS Value Fund, JS Growth Fund and UTP Large Cap Fund showed net asset value (NAV) appreciation of 59.81; 13.93 and 21.75 per cent, respectively. Unit Trust of Pakistan (UTP), the oldest private sector mutual fund in the country, which has given an average annual return of 35.45 since its inception, showed NAV appreciation of 9.63 per cent, outperforming the benchmark, which had produced return of 8.21 per cent.

The press release quoted JSIL chief executive Najam Ali as saying: “We are incredibly pleased with our performance and again put forth our expertise in consistently delivering value to our stakeholders”.

He said that the funds had performed exceptionally well despite volatile market conditions and political unrest, which evidenced expertise of 12 years in the industry.