KARACHI, July 12: UBL Fund Managers announced payout of Rs2,447.57 million for the year ended June 30, including interim payout during the year, for all its open-end funds.

This distribution translates to 100 per cent of the total distributable income of each fund for the mentioned period, the Fund said in a press release.

The Fund, a subsidiary of United Bank Limited, manages assets of Rs28 billion.

The board approved distribution of Rs3.0281 per unit for United Money Market Fund (UMF) and Rs2.9794 per unit for United Growth and Income Fund (UGIF).

This was in addition to the interim dividend of Rs6.1083 per unit (for UMF) and Rs6.1988 per unit (for UGIF) declared in April 2008.

The United Stock Advantage Fund (USF) announced distribution of Rs3.01 per unit (3.01 units for every 100 units) for the year.

Among the Shariah-compliant funds distributions of Rs5.14 per unit (5.13 units for every 100 units) for UCIF and Rs2.41 (2.40 units for every 100 units) for UIIF were announced.