ISLAMABAD (Sarzameen News)- UBL Fund Managers Limited (UBL Funds) on Wednesday announced the launch of the Al-Ameen Islamic Active Allocation Plan–IX, under the Al-Ameen Islamic Financial Planning Fund – II. This Plan is now open for subscription.
The announcement of the launch was made after the Record-Breaking 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 Pkr.5.3 billion – making it the most successful Islamic Active Allocation Plan in the country to date.
The investment policy of Al-Ameen Islamic Active Allocation Plan-IX (AIActAP-IX) is approved by Shariah Advisors Mufti Muhammad Hassaan Kaleem and Mufti Muhammad Najeeb Khan.
The plan actively allocates investments between Islamic equity and Islamic income/money market mutual funds, based on the Investment Committee’s research-backed outlook on these asset 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.
Yasir Qadri, Chief Executive Officer, UBL Funds said, “The Al-Ameen Islamic Active Allocation Plan series has been well received by investors. Al-Ameen Islamic Active Allocation Plan–IX is the ninth tranche in the series and is an ideal investment avenue for those who wish to take up a potentially high equity exposure.
He further added “Right now it is the ideal time for investors to invest especially for a longer period of time. Al-Ameen Islamic Active Allocation Plan–IX 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.”
AIActAP-IX 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.