FINAL DISTRIBUTION FOR THE YEAR / PERIOD ENDED JUNE 30, 2018
This is to inform you that the Board of Directors of UBL Fund Managers Limited on July 02, 2018 recommended the following distribution for the year / period ended June 30, 2018:
|AlActAP – X under AlFPF – II||A final Cash Dividend at Re.0.0368 per unit i.e. 0.04%|
|AlAIF||A final Cash Dividend at Rs.3.4854 per unit i.e. 3.49%|
|AlCF||A final Cash Dividend at Rs.5.0197 per unit i.e. 5.02%|
|AISF||A final Cash Dividend at Rs.3.0521 per unit i.e. 3.05%|
|UCPF – III||A final Cash Dividend at Re.0.4900 per unit i.e. 0.49%|
|UGIF||A final Cash Dividend at Rs.4.4223 per unit i.e. 4.42%|
|UGSF||A final Cash Dividend at Rs.4.9688 per unit i.e. 4.97%|
|UIOF||A final Cash Dividend at Rs.4.7439 per unit i.e. 4.74%|
|ULPF||A final Cash Dividend at Rs.5.5510 per unit i.e. 5.55%|
|UMMF||A final Cash Dividend at Rs.5.1412 per unit i.e. 5.14%|
|UAPPP – II under UFPF||A final Cash Dividend at Re.0.1258 per unit i.e. 0.13%|
The above entitlement will be credited to unit holders, whose names appeared in the register of unit holders at the close of business on June 29, 2018.
Element of Income
The Commission has defined the element of income as “the difference between Net Asset Value on the issuance or redemption date, as the case may be, of units and the Net Asset Value at the beginning of the relevant accounting period.”
On the basis of above definition at the time of dividend distribution, cash payment will be made on units outstanding on the date of book closure, representing income earned for the period / year by the unit holder (on individual basis) and will not include any element of income contributed by the unit holder during the period / year at the time of purchase of units. However, in order to maintain same NAV and unit price the amount representing element of income would be refunded in the same proportion as dividend bears to accounting income available for distribution as also mentioned in the SECP’s notification in “Element of Income”.
Following procedure have been followed for every open-end fund:
Dividend amount for each unit holder will relate to the period the units were issued for that unit holder.
It may also be noted that:
- Whatever payout ratio the open end fund decides, the same will also be applicable to refund of element of income.
- The refund of element of income (return of capital will be in the form of additional units issued at zero price) will result in increase of number of units outstanding while the purchase amount remains the same.If an investor invested on Rs. 105 and the closing NAV for the year is Rs. 110 and opening is Rs. 100. If the 100% distribution is made by the fund that the investor would get Rs. 5 as dividend and and 5 as capital repayment in form of bonus units. The tax on dividend would be deducted on Rs. 5 only.
If an investor invested on Rs. 105 and the closing NAV for the year is Rs. 110 and opening is Rs. 100. If the 100% distribution is made by the fund that the investor would get Rs. 5 as dividend and and 5 as capital repayment in form of bonus units. The tax on dividend would be deducted on Rs. 5 only.