The United Money Market Fund (UMF) declared Rs 118 million as dividend. The United Asset Management Company, a wholly owned subsidiary of UBL, the management company of UMF, has announced dividend in excess of Rs 118 million for UMF unit holders for the year ended June 30, 2005.
The dividend will be distributed as bonus units, which translate into 4.1 units for every 100 units held. The United AMC is continuously striving to provide maximum returns to its unit holders with minimal risk.
UMF's performance during the past year can be gauged from the fact that it has grown to become one of the largest money market funds in Pakistan as it has crossed the Rs 3 billion mark, reflecting confidence of its unit holder.
UMF is the only open-ended fund in Pakistan with no sales load. The fund is rated 'A+' by the JCR-VIS and is ideal for cash management and short-term placements.
Due to its liquid nature and high yield, corporate clients can also use this fund as a current account while enjoying returns in excess of 7 percent at the same time. Details of the fund and its performance are available on the website: www.uamcl.com.-PR