The Board of Directors of Al Meezan Investment Management Ltd. (Al Meezan) in its meeting held on July 7, 2011 declared dividends for its three open end funds i.e., Meezan Islamic Fund (MIF), Meezan Islamic Income Fund (MIIF) and Meezan Sovereign Fund (MSF) for the period ended June 30, 2011.
The total amount of final dividends declared amounts to Rs1,080,387,661 (i.e. over Rs1080 million). Interim payouts were made during the year for open- end funds and the total dividends being distributed for all funds amount to over Rs2810 million. CFA Mohammad Shoaib thanked the investors in reposing their trust and confidence in the fund management capability of Al Meezan team, which has made it the largest asset management company in the private sector with assets under management of over Rs29 billion as at June 30, 2011.
Al Meezan has been awarded ‘Best Islamic Asset Management House in Pakistan’ (Islamic Finance Awards) by Asset Triple A Awards, Hong Kong for excellence in the industry. Al Meezan has also been rated AM2 by JCR-VIS denoting High Quality Management.
