UBL Fund Managers Limited (UBL Funds), pioneer for unique Fund-of-Funds products, celebrates the successful closing of its latest Islamic Active Allocation Plan, the Al-Ameen Islamic Active Allocation Plan-VIII (AIActAP-VIII), a Plan under 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 Pakistan.
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, where 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 31st May 2017, is nearing maturity.
Yasir Qadri, Chief Executive Officer UBL Funds, said, "The Al-Ameen Islamic Active Allocation Plan series has been well received by investors. The series has offered lucrative returns to our customers, while understanding their risk portfolios." He further added "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 is 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 will reflect positively on the investors and the financial market in general."
The Active Allocation Plan series invests in Al-Ameen Islamic Dedicated Equity Fund to take exposure to Equities, while investing in Al-Ameen Islamic Sovereign Fund (AISF) and/or Al-Ameen Islamic Cash Fund (AICF) to take exposure in the Income/Money Markets.-PR
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