The Objective of the Fund is to provide a competitive rate of return by investing primarily in liquid Shariah Compliant money market securities.
During the month the fund posted a return of 11.95% against its benchmark return of 7.68%. WAM of the fund was 68 days at month end.
| Fund Type | An Open End Scheme |
|---|---|
| Risk Profile | Low (Principal at low risk) |
| Currency | PKR |
| Asset Manager Rating | AM1 (AM One) by PACRA (04-Oct-24) |
| Min. Subscription | PKR 500 |
| Pricing Mechanism | Backward |
| Scheme Category | Shariah Compliant (Islamic) Money Market Scheme |
| Launch Date | Â 23-May-23 |
| Listing | Pakistan Stock Exchange |
| Trustee | Central Depository Company of Pakistan Limited |
| Fund Manager | Saad Ahmed |
| Auditor | M/s. M. Yousuf Adil Saleem & Co. Chartered Accountants |
| Benchmark | 90% three (3) months PKISRV Rates + 10% three (3) months average of the highest rates on savings account of three (3) AA rated scheduled Islamic banks or Islamic windows of conventional banks as selected by MUFAP. |
| Zakat and Taxation | Zakat Deduction as per Zakat & Ushr Ordinance. Withholding Tax and Capital Gains Tax as per prevailing Income Tax Ordinance. |
Disclaimer: All investments in mutual fund are subject to market risks. Past performance is not necessarily indicative of the future results. Please read the Offering Document to understand the investment policies and the risks involved. Performance data does not include the cost incurred directly by an investor in the form of sales loads etc. The information in this literature is issued for indicative and informational purposes only and investors are advised to make their own appraisal of the investment opportunity, tax implications and consult their own financial, legal, taxation and/or other professional advisors prior to making any investment in mutual fund. The mutual fund may hold certain non-compliant investments. Before making any investment decision, investors should review the latest monthly Fund Manager Report and the Financial Statements of the mutual fund particularly the details of non-compliant investments, provision against SWWF liability and Risk Factors.