Dawood Capital Management Limited’s financial result of first Dawood Mutual Fund for the year ended June 30, 2011

September 7, 2011   Financial Results   No comments

Karachi: We have to inform you that the Board of Directors of Dawood Capital Management Limited (DCM) Manager of First Dawood Mutual Fund in their meeting held on Wednesday September 7, 2011 at 11:30 a.m. at 5-B, 5th Floor, Lakson Square Building # 1, Sarwar Shaheed Road, Karachi, recommended the following:

(i) Cash Dividend

Board of Director of DCM Manager of First Dawood Mutual Fund has approved cash dividend of Re. 0.33 per certificate i.e. 3.30%.

And/or

(ii) Bonus Issue    NIL

And/or

(iii) Right Shares  NIL

And/or

(iv) Any other Entitlement/ Corporate Action    NIL

And/or

(v) Any other price – Sensitive Information  NIL

The financial result of the Fund is enclosed.

The Certificate Transfer Books of the fund will be closed from October 01, 2011 to October 07, 2011 (both days inclusive) the Transfer received at the Registrar Office, FD Registrar Service (SMC-Pvt) Ltd at Office # 1108, 11th Floor, Trade Centre, I.I. Chundrigar Road, Karachi at the close of business on September 30, 2011will be treated in time for the above entitlement to the transferees.

First Dawood Mutual Fund Income Statement For the Year Ended June 30, 2011

 

Note 2011  2010
Rupees  Rupee
(4,144,409) 10,144,199
Income 16,264,867 32,095,559
(Loss)/Gain on Sale of Investment 11,180,987 –
Profit on Term Finance Certificates/Sukuks 9,222,423  11,923,878
Profit on Treasury Bills  3,569,629 3,052,166
Dividend Income  ———– ———–
Profit on Bank Balances 36,093,497  57,215,802
Unrealized Gain/(Loss) on Revaluation of Investments
At Fair Value through Profit or Loss 15 44,197,199 (74,374,487)
 ———–  ———–
80,290,696 (17,158,685)
Expenses
Remuneration of Management Company 10,753,193 13,613,215
Remuneration of Trustee 902,909 890,357
Annual Fee of SECP 457,016 444,927
Brokerage and Settlement Charges 788,149 3,198,329
Auditors’ Remuneration  16 237,000  202,000
Fee and Subscription  573,653 696,467
Bank Charges 21,257  25,447
Legal and Professional Charges 51,154  –
Workers’ Welfare Fund 1,327,216  –
Printing Charges 145,576  75,984
  ———–  ———–
Total Expenses 15,257,123 19,146,726
———– ———–
Net Income/ (Loss) for the year  65,033,573  (36,305,411)
 ———–  ———–
Earnings/(Loss) per Certificate 17 1.12  (0.63)

 

 

The annexed notes from 1 to 30 form an integral part of these financial statements.

For and on behalf of Dawood Capital Management Limited (Management Company)

First Dawood Mutual Fund Statement of Assets and Liabilities As at June 30, 2011

 

Note

  2011 2010
Rupees Rupees
Assets
Bank Balances

4

 26,309,731  57,810,740
Investments

5

 515,056,888 413,327,403
Advances, Deposits and other Receivables

6

 12,540,617  16,215,429
 ———–  ———–
Total Assets 553,907,236 487,353,572
Liabilities
Remuneration Payable to Management Company

7

 935,229 768,377
Remuneration Payable to Trustee

8

 76,448  67,902
Annual Fee Payable to SECP

9

 457,016  444,927
Creditors, Accrued and Other Liabilities

11

 2,443,531 1,110,927
Dividend Payable

12

 282,450 282,450
 ———–  ———–
Total Liabilities 4,194,674 2,674,583
 ———–  ———–
Net Assets 549,712,562 484,678,989
 ———– ———–
Certificate Holder’s Equity
Issued, Subscribed and Paid-up Capital

13

 580,750,000 580,750,000
Unappropriated Losses (31,037,438)  (96,071,011)
———– ———–
549,712,562 484,678,989
 ———–  ———–
Contingencies and Commitments

14
Number of Certificates 58,075,000 58,075,000
 ———–  ———–
Net Asset Value per Certificate (face value per certificate Rs. 10/-) 9.47 8.35

 

The annexed notes from 1 to 30 form an integral part of these financial statements.

For and on behalf of Dawood Capital Management Limited (Management Company)

 

For more information, contact:
Dawood Capital Management Limited
5B Lakson Square Building # 1, Sarwar Shaheed Road,
Karachi – 74200,
Pakistan.
UAN: 111-DAWOOD (111-329-663)
Tel: (92-21) 3562-1001-06
Fax: (92-21) 3562-1010
Email: dcm@edawood.com
Web: www.edawood.com

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