UBL Funds achieves biggest public offering

KARACHI: UBL Fund Managers Limited (UBL Funds), pioneer for unique Fund-of-Funds products, achieves biggest public offering and celebrates the successful closing of its latest Islamic Active Allocation Plan - the Al-Ameen Islamic Active Allocation Plan-VIII (AIActAP-VIII), a statement said on Tuesday.

With a total initial investment of over Rs5.3 billion, AIActAP-VIII is now the biggest Active Allocation Plan in the industry in Pakistan. The plan is under Al-Ameen Islamic Financial Planning Fund – II (a Shariah-compliant fund of funds scheme), it added.

The investment policy of Al-Ameen Islamic Active Allocation Plan Series is approved by Shariah advisers Mufti Muhammad Hassaan Kaleem and Mufti Muhammad Najeeb Khan, where the plans actively allocates investments between Islamic equity and Islamic income / money market mutual funds, based on the investment committee’s research-backed outlook on asset classes for a total duration of two years, with an aim to achieve potentially high returns, the statement said.

The first offering of the series, AIActAP-I, which has yielded an absolute return since inception of more than 43 percent as of May 31, 2017, is nearing maturity.

Yasir Qadri, chief executive officer of UBL Funds, said: “The Al-Ameen Islamic Active Allocation Plan series has been well received by investors.”

“The series has offered lucrative returns to our customers, while understanding their risk portfolios.” He said, “The launch of these public offerings is the illustration of the outstanding performance of our previous Al-Ameen Islamic Active Allocation plans.

UBL Fund Managers is offering a wide array of investment opportunities for its customers, comprising short- and long-term plans. “Also, being the first of its kind, we are proud that this initiative will reflect positively on the investors and the financial market in general,” he added.