Faysal Asset Management Ltd -- Still Growing Strong
The Board of Directors of Faysal Asset Management Limited has announced an interim cash/bonus dividend of Rs. 2.75 per unit (2.75% of the par value of Rs. 100/-) for Faysal Savings Growth Fund, FSGF. The Net Income of the fund improved by over 107% when compared with the same period of previous year. FSGF is rated “A” by JCR-VIS.
FSGF has a highly liquid portfolio with 93% of its net assets in short term liquid instruments and ‘A’ or better rated commercial banks. It also has a very minimum exposure of 4% in TFCs with no exposure in CFS. The management company has further reduced the duration of the portfolio as well as enhancing the credit quality to manage a money market fund in the light of international standards. FSGF Annualized MoM (Oct 08): 13.40%
Faysal Asset Management is a leading asset management company with the support & collective wisdom of large international financial institutions like Islamic Investment Company of the Gulf and Faysal Bank Ltd. Mr. Salman H Sheikh, CEO of Faysal Asset Management Limited, stated that in the current global and local financial crises, FAML has proven their continued strength and growth due to its risk-averse prudent investment management strategies.