KARACHI - The meetings of the Boards of Directors of Al Meezan Mutual Fund Limited (AMMF) and Al Meezan Investment Management Ltd., Investment Advisor of Meezan Islamic Fund (MIF), Meezan Balanced Fund (MBF), Meezan Islamic Income Fund, Meezan Cash Fund (MCF), Meezan Sovereign Income Fund (MSF) and Meezan Capital Protected Fund (MCPF-I) were held to approve financial results for the nine months ended March 31, 2011, says a press release. The net assets of the fund as at March 31, 2011 were Rs 1,658 million. AMMF was the best performing closed end fund in Pakistan during this period. Meezan Islamic Fund (MIF), Pakistans largest open end equity fund in private sector, reported a net income of Rs 898 million for the nine months ended March 31, 2011 which translates into earnings per unit of Rs 10.25. During nine months period the fund has provided 34pc returns. The net assets of the fund as at March 31, 2011 were Rs. 4,376 million. Meezan Balanced Fund (MBF), a closed end balanced scheme, earned a net income of Rs 155 million which translates into an earning per certificate of Rs 1.29 at the close of nine months ended March 31, 2011. The net assets of the fund as at March 31, 2011 were Rs 1,475 million.