KARACHI, April 20: UBL Fund Mangers Limited — a wholly-owned subsidiary of UBL and the management company of United Market Fund (UMF) and United Growth and Income Fund (UGIF), announced the financial results of UMF and UGIF for the period from July 1, 2005 to March 31, 2006.

UMF demonstrated higher returns to its unit-holders by 9.88 per cent per annum for the first quarter of 2006 as compared to 8.89 per cent yield for the second half of 2005, says a press release.

The net asset value of UGIF has increased by 11.53 per cent per annum since its public launch.