KARACHI, Feb 12: JS Investments Limited (formerly JS Abamco Limited) — the largest private sector asset management company with over Rs37 billion under management — announced financial results for the half year ended Dec 31, 2007, at the meeting of the board held on Monday.

The results pertained to the management company and fund under management of JS Investments Limited: JS Value Fund Limited (formerly BSJS Balanced Fund Limited) announced cash dividend at Rs3 (30 per cent) per share of the face value of Rs10 each. UTP-Large Cap Fund will pay Re1 (10 per cent) per certificate of face value of Rs10 each.

The above translates into a year to date cash payout of Rs685.28 million. In addition, the board announced maiden cash payout of Rs1.50 (15 per cent) per share of JS Investments Limited.

Mr Najam Ali, CEO, stated in a press release that for the period under review, JS Value Fund was the best performing mutual fund of the industry, recording a 26 per cent increase in its Net Asset Value (NAV).

The NAV of UTP-Large Cap Fund increased by 4.86 per cent while that of JS Growth Fund decreased by 1.24 per cent against a decline of 1.63 per cent in benchmark KSE-30 index.

During the 1H08, JS Investment earned a net profit after tax of Rs112.99 million (EPS Rs1.13), which was 44.8 per cent higher than corresponding period of last year.

Assets Under Management (AUM) of JS Investments posted a record growth of 21 per cent during this period, closing at Rs35.5 billion on Dec 31, 2007. In comparison to this, the total AUMs of mutual fund industry grew by about 17 per cent during the period under review.