UBL Funds successfully completes IAA plan
KARACHI: UBL Fund Managers Limited, the pioneer for unique Fund-of-Funds products, celebrates successful closing of its latest Islamic Active Allocation Plan; the Al-Ameen Islamic Active Allocation Plan-VIII.
The plan is a part of Al-Ameen Islamic Financial Planning Fund-II (A Shariah Compliant Fund of Funds Scheme). With a total initial investment of over Rs 5.3 billion, AIActAP-VIII is now the biggest Active Allocation Plan in the industry in Pakistan, says release here on Tuesday.
The investment policy of Al-Ameen Islamic Active Allocation Plan series is approved by Shariah Advisors Mufti Muhammad Hassaan Kaleem and Mufti Muhammad Najeeb Khan. Hence, the plans actively allocates investments between Islamic equity and Islamic income/money market mutual funds, based on the investment committee's research-backed outlook on asset classes for a total duration of 2 years, with an aim to achieve potentially high returns.
The first offering of the series, AIActAP-I, which has yielded an absolute return since inception of more than 43% as of May 31, 2017 is nearing maturity.
Chief Executive Officer, UBL Funds, Yasir Qadri said that The Al-Ameen Islamic Active Allocation Plan series had been well received by investors.
The series had offered lucrative returns to our customers, with understanding their risk portfolios. The launch of these Public Offerings is the illustration of the outstanding performance of our previous Al-Ameen Islamic Active Allocation Plans.
UBL Fund Managers was offering a wide array of investment opportunities for its customers comprising of short-term and long-term plans. Also, being the first of its kind, we are proud that this initiative would reflect positively on the investors and the financial market in general, he said.
The Active Allocation Plan series invests in Al-Ameen Islamic Dedicated Equity Fund to take exposure to equities.
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