KARACHI, Oct 15: The board of directors of JS Investments Limited (JSIL), the oldest and the largest private sector asset management company with around Rs38.9 billion under management (as of June 30, 2008), announced interim dividends for JS Income Fund (JSIF) and JS Aggressive Income Fund (JSAIF).

The payouts pertained to the first quarter of FY 2008-09, ended Sept 30, 2008. Interim dividend of Rs3.05 per unit of par value of Rs100 (3.05 per cent) for JSIF was announced. For the unit holders of JSAIF, the board declared an interim payout of Rs2.75 per unit of par value of Rs100 (2.75 per cent).

In a statement the asset management company quoted Najam Ali, CEO of JSIL as saying: “We are proud of the fact that income funds being managed by JSIL are amongst the best performing in the industry with JS Income Fund at the top of the league table.” JSIF was stated to be one of the oldest income funds in the country with the highest 5-Star rating (Normal and Long Term) awarded by Pakistan Credit Rating Agency (PACRA). The company’s CEO said: “We are extremely encouraged by these results, which have been achieved despite turbulent economic and market conditions, and hope to continue the exceptional performance throughout the current financial year.”

The company’s statement explained that the unit holders, who had opted for cash pay out, would receive cash payment while unit holders, who opted for bonus units, would be allocated accordingly on the ex-bonus price as of Sept 30. The above entitlement would be paid to the unit holders, whose names appear in the register at the close of business on Sept 30, the company stated.