KARACHI, Oct 27: PICIC Asset Management Company Ltd — investment adviser to PICIC Investment Fund (PIF) and PICIC Growth Fund (PGF) –- on Thursday announced results of the funds for 1Q05 ending Sept 30.

In a press statement, the management company stated that during the quarter under review, total income increased to Rs774 million as compared to a loss of Rs112 million in the corresponding period last year, showing a growth of 791 per cent, which also included realized capital gains on account of NRL privatization.

PIF declared an interim cash dividend at 10 per cent (Re1 per certificate), resulting in a cash payout of Rs284 million for the quarter. PGF declared an interim cash dividend at 15 per cent (Rs1.5 per certificate) and an interim bonus at 20 per cent, resulting in a payout of Rs551 million.