KARACHI: Al Meezan Investment Management Limited (Al Meezan) announced the launch of Meezan Strategic Allocation Plan-I (MSAP-I), an allocation plan under the newly launched fund of funds scheme, Meezan Strategic Allocation Fund.
“The plan would use active asset allocation strategy for providing competitive returns on your investment. It is a unique asset allocation plan for investors, who wished to benefit from the equity market and wanted an actively managed investment portfolio with diversification. The plan has an initial term of two years and was now open for subscription,” said Al Meezan CEO Mohammad Shoaib. While announcing the launch of the plan, Shoaib said, “Previously we launched Capital Preservation and Asset Allocation Plans series, based on existing MFPF with two years duration, which was well received by the investors. The MCPP-I, one of the capital preservation plans, would mature on October 27 this year and the investors of the fund have gained a cumulative return of 26.21percent since its inception, October 14, 2016.”
He said now we have launched MSAP-I, which is the first plan under the Meezan Strategic Allocation Fund and was an ideal investment avenue for those, who wished to earn a potentially high return through active asset allocation between Shariah-compliant equity and income/money market schemes. The fund managers with their proven expertise would make prudent investment decision to optimise the returns for investors, he added.
Al Meezan has been managing investments since 1995 and has one of the longest track records of over 20 years in the private sector in Pakistan with AM2++ Management Quality Rating. The firm has the distinction of being the largest private sector asset management company in Pakistan with total assets under management of Rs 86.96 billion in 11 funds and has investor base of 47,000 clients.