Provincial Minister of Finance Tanvir Ashraf Kaira has said that the volume of Punjab Pension Fund (PPF) has been reached Rs.12.5 billion and fund has also paid a profit of Rs.1 billion to Government of the Punjab. According to handout issued here on Monday, he expressed these views while presiding over the 10th meeting of the management committee of the Punjab Pension Fund. Chairman Planning and Development Board, Secretary Finance, Secretary Services, General Manager, Punjab Pension Fund and other private members attended the meeting. During the meeting the committee reviewed financial statements of the Punjab Pension Fund for the period ended 31st March 2010 and appreciated the over all performance of the fund. The meeting was informed that the Fund is pursuing its strategy of building long term assests as currently return on such assets is relatively high. Hence at 31st March 2010 39% of total funds were invested in Pakistan Investment Bonds. Remaining funds were invested in short term instruments comprising of Treasury Bills and Bank Deposits. The Committee was further apprised that during nine months the fund had earned a gross annualized return of 13.88% and after management expenses it had earned net annualized return of 13.71 %. The committee approved financial statements of Punjab Pension Fund for the period ended 31st March 2010. The Committee also approved a budget of Rs.37 million for Punjab Pension Fund for the financial year 2010-11. General Manager told the meeting that the Fund will continue to build its portfolio of Pakistan Investment Bonds through auction and secondary market purchase. He also informed that the Fund has also started building portfolio of good quality Corporate Bonds.