KARACHI, July 11: The JS Investments Limited, the largest private sector asset management company in Pakistan with around Rs39 billion under management, announced financial results for open-end funds for the year ended June 30.

The board of directors approved the final payouts for unit holders, by virtue of which the Unit Trust of Pakistan (UTP), which is the oldest private sector fund in Pakistan, announced payout per unit of Rs18.60, which is a payout of 12.60 per cent as per opening NAV.

JS Income Fund gave a payout of Rs3.02 per unit which is in addition to the already distributed interim dividend of Rs6.70 per unit, and equals to a total payout of 9.60 per cent for the fiscal year 2008, while the JS Aggressive Income Fund, a payout per unit of Rs2.60, which was in addition to the interim distribution already paid at Rs2.40 per unit and equals to a total payout of five per cent for 2008.

JS Fund of Funds has a payout of 10 per cent on the opening NAV, which translated into a total payout of Rs10.24 per unit. The payout per unit for JS Aggressive Asset Allocation fund was Rs2.50, which came to a total payout of 2.23 per cent as per opening NAV.

In Capital Protected Funds (CPF) series, CPF I has a payout of Rs8.01 per unit, which translated to a total payout of eight per cent as per opening NAV while CPF II a payout per unit of Rs9, equal to a total payout of nine per cent as per opening NAV, CPF III has a payout per unit of Rs5.50, which was a payout per opening NAV of 5.5 per cent and CPF IV, which was recently launched by the company, announced a payout per unit of Rs1.75 on the face value.

A company announcement said that unit holders that have opted for cash payout would receive cash payment and those who opt for bonus units would be allocated units on the net asset value as of close of business on June 30.

For the year under review, Open-End Funds under management of JSIL showed an overall growth of almost 51 per cent.

“This was achieved through a combination of prudent investment management, new product launches and diversification of retail and institutional customer base, under a well thought out and professionally executed business development strategy,” the company CEO, Najam Ali, said in a press statement.

He observed that in spite of the unprecedented economic and political turmoil witnessed during the preceding year that saw the KSE 100 and KSE 30 indexes fall by 10.8pc and 15.7pc, respectively, the JSIL funds had posted high returns for the Unit Holders.