The Initial Public Offering (IPO) of Meezan Capital Protected Fund-II will begin from July 5 and end on July 7, 2011. The fund has been jointly launched by Meezan Bank and its subsidiary Al Meezan Investment Management Limited. MCPF-II is an open-end mutual fund with a maturity period of three years and six weeks. The objective of MCPF-II fund was to provide investors protection of their capital, a press release issued here on Monday said.
It added that 100 percent protection of capital was available to an investor if he remains invested throughout the tenor of the fund ie for 3 years and six weeks. The fund, therefore, offered capital protection while also offering competitive returns through participation in the equity market, it said.
Chief Executive of Al Meezan Mohammad Shoaib said: "With the recent volatility in the asset markets, the foremost concern of all investors is safety of capital with an acceptable return on their investment. Under such conditions, MCPF-II offers investors the best solution of ensuring safety of capital and access to stock market returns."
The press release further said that investment in MCPF-II could be made from any branch of Meezan Bank and Al Meezan. The subscription of the fund would remain open till August 15, 2011 (six weeks period).-PR
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