Karachi: February 23, 2009: The Board of Directors of Faysal Asset Management Limited (FAML) has announced an interim cash/bonus dividend of Rs. 3.20 per unit (3.20% of the par value of Rs. 100/-) for quarter ended Dec 31, 2008 for Faysal Income & Growth Fund (FIGF); and Rs. 3.20 per unit (3.20% of the par value of Rs. 100/-) for Faysal Savings Growth Fund (FSGF).
Faysal Asset Management Ltd. maintained its strong dividend paying history by announcing Rs. 3.20 per unit to its unit holders of FIGF as well as FSGF. FSGF maintained its outperforming track record among the funds completing the full half-year and yielded 12.60% for the half year ahead by over 800 bps to the second best money market fund in the industry. FSGF maintained a strong credit quality portfolio minimizing interest rate risk as well as liquidity and duration risk. FSGF is rated A(f) while FIGF maintained one of the highest credit quality ratings in the open-ended income funds of A+(f) assigned by JCR-VIS.
Faysal Asset Management Ltd. 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. Mr. Sheikh also thanked the investors for their continuous trust in the investment management services offered by FAML as indicated by the Faysal Savings Growth Fund reaching approximately Rs. 5 Billion in size alone.