Al Meezan Investment Management Limited (Al Meezan) has launched Meezan Capital Preservation Plan-II (MCPP-II), which is the sixth in the series of capital protection/preservation plans/funds launched by the company. It goes without saying that all operations of the funds under management of Al Meezan are conducted as per Shariah guidelines and principles.
The plan will use dynamic asset allocation strategy of Capital Proportion Portfolio Insurance (CPPI) for providing competitive returns while aiming to preserve the initial capital.
The CEO of Al Meezan Investments, Mohammad Shoaib, CFA, while announcing the launch of the plan said, "As more and more investors are looking to capture upside of the stock market and the same time want downside protection, Al Meezan has continued to launch capital preservation funds and plans."
The objective of the Plan is to enable investors to benefit from potentially high returns of a rising stock market by investing in Shariah-compliant stocks while preserving their capital in a declining market by investing in Shariah compliant money market funds. The plan will mature in two years.
"There is lot of appetite for such funds in the market. During 2014, Al Meezan has raised about Rs 7 billion in Capital Preservation Schemes.
Al Meezan has been managing investments since 1995 and has one of the longest track records of managing mutual funds in the private sector in Pakistan. Al Meezan has recently achieved the accolade of AM2+ Management Quality Rating which is currently the highest amongst fund managers in Pakistan. Al Meezan also has the distinction of being the largest private sector Asset Management Company in Pakistan with total Assets Under Management (AUMs) of over Rs 55 billion in 11 different funds. Al Meezan has to its credit Pakistan's largest private sector Equity Fund, ie, Meezan Islamic Fund (MIF) and largest Voluntary Pension Fund, ie, Meezan Tahaffuz Pension Fund (MTPF), with AUMs of over Rs 20 Billion and Rs 3 Billion respectively.
Speaking on this occasion, Shoaib thanked both individual and institutional investors for their confidence and trust which enabled Al Meezan to achieve these distinctions. "We will Insha-Allah continue to work diligently to meet the demands of our investors and work towards our vision of making Shariah-compliant investing first choice of investors," he added.-PR
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