UBL Fund Managers Ltd, a wholly owned subsidiary of the UBL Group, is launching its first Open Ended Equity Fund in the forthcoming months. The company has been granted licence by the SECP to launch and manage open ended equity funds.
UBL is the first bank to obtain this licence through its subsidiary, without any technical collaboration with an international asset management company, demonstrating the commitment and quality of fund management skills present within the company.
''''UBL Fund Managers'''' is also the first Asset Management Company of Pakistan to be launched by a bank in 2002. Its first fund was the United Money Market Fund (UMF)--the first true money market fund in Pakistan with no sales load. The fund has been rated by JCR-VIS at ''''A+''''.
The second fixed-income open ended fund, United Growth & Income Fund (UGIF), is expected to be launched by the end of this month.
The company, currently managing over Rs 4.3 billion in assets, hopes to accommodate the emerging needs of local investors with the launch of its equity fund. It has recently also established a 24-hour toll-free number (0800-00026) with a dedicated call centre to better serve its customers'''' needs.
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