UBL Funds launch Al-Ameen Islamic Active Allocation Plan

ISLAMABAD: UBL Fund Managers Limited announced the launch of the Al-Ameen Islamic Active Allocation Plan- IX, under the Al-Ameen Islamic Financial Planning Fund-II.

The investment policy of Al-Ameen Islamic Active Allocation Plan-IX was approved by Shariah Advisors Mufti Muhammad Hassaan Kaleem and Mufti Muhammad Najeeb Khan.

This plan was now open for subscription, said a statement received here on Thursday.

The announcement of the launch was made after the closing of their eighth tranche of the Islamic Active Allocation Series, the Al-Ameen Islamic Active Allocation Plan-VIII, with a closing IPO of over Rs 5.3 billion.

The plan actively allocates investments between Islamic equity and Islamic income or money market mutual funds, based on the investment committee's research with an aim to achieve potentially high returns.

The plan has a term of two years and was ideal for investors who wish to benefit from the equity market and desire active management of their investment portfolios.

In a statement Yasir Qadri, Chief Executive Officer, UBL Funds, said that Al-Ameen Islamic Active Allocation Plan series has been well received by investors.

Al-Ameen Islamic Active Allocation Plan-IX was the ninth tranche in the series and was an ideal investment avenue for those who wish to take up a potentially high equity exposure, he added.

He said that the plan will smartly invest and disinvest between Islamic Equities and Islamic Income, Money Market based mutual funds, based on Investment Committee's research-backed outlook on asset classes.