The Board of Directors of UBL Fund Managers in its meeting held on April 19, 2011 approved the financial results of funds under management for the period ended March 31, 2011. According to a press release, UBL Liquidity Plus Fund (ULPF):ULPF continued to receive exceptional investor interest during the third quarter of FY'11 as the fund size grew 19 percent to close the period at Rs 14.5 billion.
The Fund's annualised return stood at 11.68 percent on year-to-date basis, outperforming the benchmark return of 10.31 percent and marked to earn net income of Rs 1,009 million. In addition, the Chief Executive under the authority granted by the Board of Directors approved interim distributions of Rs 8.0119 per unit to the unit holders during the nine months period.
UBL Savings Income Fund (USIF): The Fund commenced its operations from October 14, 2010 and its size rapidly grew to Rs 1.29 billion as at the close of the quarter. The Fund yielded 11.98 percent p.a. on year-to-date basis and outperformed its peer group of other funds.
United Stock & Advantage Fund (USF): USF continues to offer superior returns to its investors by giving an absolute return of 38.10 percent during the nine months period as compared to KSE-100 index return of 21.47 percent and ranked among the highest yielded funds in the equity fund category in the industry.
UBL Islamic Savings Fund (UISF): UISF received exceptional investor interest since its launch in November 2010 by attaining the fund size of Rs 1.58 billion at the close of the period. The Fund's return stood at 11.98 percent p.a. outperforming the benchmark return of 7.55 percent p.a., and also topped its peer group. United Composite Islamic Fund (UCIF): The Fund maintained a healthy composite portfolio local equities and International equities and sukuks. The Fund size exhibited stability, closing the period at Rs 499 million. The income statement of the Fund showed an absolute year-to-date return of 26.5 percent-PR
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