Karachi: UBL Fund Managers Limited (UBL Funds) announced the launch of the Al-Ameen Islamic Active Allocation Plan-III, under the Al-Ameen Islamic Financial Planning Fund, a Fund of Funds Scheme. This Plan is now open for subscription.
The investment policy of Al-Ameen Islamic Active Allocation Plan-III (AIActAP-III) is approved by Shariah Advisors Mufti Mohammad Hassaan and Mufti Mohammad Najeeb Khan. The plan actively allocates investments between Islamic equity and Islamic income/money market classes with an aim to achieve potentially high returns. The Plan has a term of two years and is ideal for investors who wish to benefit from the equity market and desire active management of their investment portfolios.
Mir Mohammad Ali, Chief Executive at UBL Funds, said The Al-Ameen Islamic Active Allocation Plan series has been well received by investors with initial investments of Al-Ameen Islamic Active Allocation Plans I and II totalling more than Rs. 4.6 Billion. Al-Ameen Islamic Active Allocation Plan-III is the third tranche in the series and is an ideal investment avenue for those who wish to take up to 100% exposure to equities.”
He further added that The equity market in Pakistan seems risky to most investors even though the returns have proven to be higher as compared to other investment avenues. Al-Ameen Islamic Active Allocation Plan-III will smartly invest and disinvest between Islamic Equities and Islamic Income / Money Market based mutual funds, depending on the Fund Manager’s outlook on asset classes.”
AIActAP-III will be investing in Al-Ameen Islamic Dedicated Equity fund to take exposure to Equities, while investing in Al-Ameen Islamic Sovereign Fund (AISF) and/or Al-Ameen Islamic Cash Fund (AICF) to take exposure to the Income/Money Markets.