KARACHI, July 6: IGI Funds Limited (IGIFL), the asset management arm of the IGI Financial Services and Packages Group, announced bonus distribution for its open-end-fund, the IGI Income Fund (IGIIF).

Launched in April 2007 with a pre-IPO investment of Rs1,125 million, the net assets of the IGI Income Fund were Rs1,677 million as of June 30, 2007.

According to a press release the Net Asset Value (NAV) per unit of IGIIF has grown from Rs100 to Rs102.04 at the end of FY07. This translates into an annualised return of 9.67 per cent during the period April 14 to June 30, 2007.

The benchmark for IGIIF was the one-month Kibor which averaged at 9.40 per cent during the period under review.