UBL Fund Managers, Pakistan's leading asset management company, as part of its vision to provide value-added investment solutions has unveiled its new product offering, 'UBL Liquidity Plus Fund' (ULPF). The Trust Deed of the Fund was signed with the Central Depository Company of Pakistan (CDC) on May 7.
The Fund is expected to open for subscription later in May 9 after completing remaining formalities. ULPF is an open-end money market fund with the aim to provide its Unit Holders competitive returns from a portfolio of low risk and short duration assets while maintaining high liquidity. A 'same day' redemption feature will also be provided to facilitate Unit Holders.
The Fund will achieve its investment objective by investing in a diversified portfolio of securities including Government Treasury Bills, and deposits with high rated banks and financial institutions. The Fund will not invest in long-term instruments like Pakistan Investment Bonds, TFCs, etc.
UBL Fund Managers Chief Executive, Mir Muhammad Ali, CFA commented on the occasion that "UBL Liquidity Plus Fund is designed to fulfil the needs of the most conservative individual and corporate investor who wants to place funds in a low risk, highly liquid, and tax-free investment avenue. For corporate investors, ULPF tied up with their existing Cash Management Systems offers the potential to realise attractive daily-returns on surplus cash holdings."
On a question where this new fund is positioned in the UBL Funds product line, he said while existing Income Funds, UGIF and UMF, would provide higher returns than ULPF in the medium to long-term, ULPF would have much lower volatility end risk.-PR
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