UBLFM managing funds worth Rs10bn

The Board of Directors of UBL Fund Managers (UBLFM), a wholly-owned subsidiary of United Bank, announced on Tuesday that it was managing overall funds of Rs10 billion with over 5,000 unit-holders to date.

The board, after holding a meeting, announced the financial results for the six months ended December 31, 2006, of various funds under its portfolio.

Accordingly, United Growth & Income Fund (UGIF) in the fixed income category recorded a yield of over 12 per cent from July to December 2006. UGIF saw an increase in unit holders by 98 per cent, with a total fund size of over Rs3.3 billion. The net income per unit increased to Rs6.14 as compared to Rs4.29 for the same period last year.