The Funds were quoted under 'Open-end Fund' sector of the Ready Board Quotation of the Exchange, and in this regard a briefing was organised by the Bank.

The investment objective of the HBL-Islamic Money Market Fund is to seek high liquidity, competitive return and maximum possible preservation of Capital for investors by investing in low risk Shariah Compliant securities.

The performance benchmark for the Fund is an average of most recently published three-month deposit rates offered by any three Islamic banks. The initial price per unit of the Fund is Rs 100 with CDC acting as its Trustee.

While, the investment objective of the HBL-Islamic Stock Fund is to achieve long term capital growth by investing mainly in Shariah Complaint equity securities.

The performance benchmark for this Fund is KMI-30 (KSE-Mezan Index-30). The initial price of the Fund is Rs 100 with CDC acting as its trustee. The IPO for both the Funds was held on May 9-10, 2011.

The HBL Asset Management, a wholly owned subsidiary of Habib Bank Limited, is currently managing four open end funds by the name of HBL Income Fund, HBL Multi Asset Fund, HBL Money Market Fund and HBL Stock Fund. All these funds are listed on the Lahore Stock Exchange.