KARACHI, July 7: The board of directors of the Habib Asset Management Limited, the fund manager of First Habib Income Fund, in their meeting on July 6 declared a bonus dividend at the rate of 1.5 bonus units for every 100 units held by an investor as on June 30, 2007. The board also decided that no front-end load will be charged from July 9. Now an investor can buy units any time at Net Asset Value (NAV).

According to a press release, fund earned a total income of Rs17.14m. Out of this, the fund will be distributing 90.21pc i.e. Rs15.46m. The total fund size as on June 30 stood at Rs1,046m.