Daily Times

KARACHI: Al Meezan Investment Management Limited (Al Meezan) is pleased to announce the launch of Meezan Asset Allocation Fund (MAAF), an open-end Shariah compliant asset allocation scheme.

MAAF aims to earn a potentially high return through asset allocation between Shariah compliant equity, fixed income and money market instruments. MAAF has an initial offering from April 18- 20, 2016 with no load and would be open for subscripion subsequently.

Al Meezan Investments CEO Mohammad Shoaib, while announcing the launch of the fund, said, “Al Meezan has continued to address the growing need of investors who are looking for wealth creation over the long term. Meezan Asset Allocation Fund is designed to help investors build wealth by seeking long-term capital appreciation, diversification across asset classes and the flexibility to change investment portfolio exposure as per the outlook.

He further added, “MAAF offers a convenient way of using the method of asset allocation to earn the benefits of diversification while saving the investor from the hassle of investing in multiple funds.”

Al Meezan has been managing investments since 1995 and has one of the longest track records of managing mutual funds in the private sector in Pakistan. Al Meezan with AM2+ management quality rating has the distinction of being the largest private sector asset management company in Pakistan with total assets under management (AUMs) of over Rs 70.76 billion (as on Mar 31, 2016) in 11 different funds and an investor base of 40,000 clients.

Al Meezan has to its credit Pakistan’s largest private sector equity fund i.e. Meezan Islamic Fund (MIF) and largest voluntray pension fund i.e. Meezan Tahaffuz Pension Fund (MTPF), with AUMs of Rs 27.4 billion and Rs 5.4 billion respectively (as on Mar 31, 2016).