LAHORE - Lahore Stock Exchange has approved the application for formal listing and quotation of the Units of Pak Oman Government Securities Fund (Open end Funds managed by Pak Oman Asset Management Co. Limited). The Fund will be quoted under Open-end Fund sector of the Ready Board Quotation of the Exchange w.e.f. Thursday, August 4, 2011. With listing of the POGSF the total number of Open Ended funds listed on LSE has reached 56. The representative of the POAMCL said that the investment objective of the Fund is to provide its unit holders competitive returns from a portfolio of low credit risk with maximum possible preservation of capital via investing primarily in Government Securities. The benchmark for POGSF is 70% 6 month treasury bill PKRV rate and 30 % average most recently published 3-month deposit rates of A+ (single A+) and above rated scheduled banks. The initial price per unit of the Fund is Rs. 10. The Initial Public Offering (IPO) of the fund was held on 25, 26 & 27th of July following which the fund size has increased to more than 470 million. The representative said that the purpose of launching of this fund is to widen the menu of funds currently being offered by the POAMCL and increase the choices available to the investors. In addition, the fund has the unique feature of allowing the investors to choose from within the fund the type of payout i.e. capital appreciation in form of bonus units or income payouts in form of cash dividends.