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