Promotion Mix of Pepsi Essay

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Annual Report 2010
Askari Income Fund

Invest with AIM

A Wholly Owned Subsidary of

Title Inside


The leading quality investment advisor providing excellent returns in a dynamic market place, based on the superior expertise of a committed team of professionals who value

“service to the customer”
Askari Investment
Management Limited

Good people.
Sound advice.
Great returns.


Fund’s Information


Directors’ Report


Fund Managers
Report 08

Trustee Report to the Unit Holders 13

Income Statement 19

Statement of Compliance with the Code of

Statement Of Comprehensive Income 20

Corporate Governance 14

Review Report to the Unit Holders on The
Statement of
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This will likely improve Pakistan’s visibility on the international financial markets, thus leading to increased foreign flows. The real expected GDP growth rate for the next fiscal year is 4.5% .The sectoral growth rates are expected to be 3.8% for agriculture,
4.9% for industry and 4.7% for services sectors. The fiscal deficit is estimated to be 4.0% of GDP but the achievement of the fiscal deficit target could be difficult because of the ambitious revenue target and uncertainty over the external financial inflows arising from sources such as Coalition Support Fund and Kerry-Lugar Act and due to the possible impacts of recent floods in the Country. Further, with the
Capital Gains Tax (CGT) implemented, the market may continue to be dull for the next couple of months.

Performance of the Fund

Returns of AIF for the year ended 30 June 2010 were negative 7.09% with the fund size at Rs 1.3 billion as compared to Rs 3.1 billion last year. The adverse performance and loss to the Fund is mainly attributable to the provisions for diminution in value of debt securities and other assets including TFCs, Sukuks, Term Finance Agreements, Leased Asset and Properties (acquired against settlement of investments) due to their non performing status and/or the valuation impacts. Further during the year, the Fund suffered additional losses due to sale of certain TFCs at lower than carrying value in order to meet redemption requests of the Unit Holders of the Fund. The