If you are looking for a cash management solution for parking short term liquidity, Meezan Cash Fund (MCF) is the ideal product for it. Being the first ever Shariah compliant money market fund in Pakistan, MCF aims to bring you very stable returns avoiding volatility of both long-term fixed income instruments and stock markets.
Launched by Al Meezan Investments, the largest Shariah compliant asset management company in Pakistan, MCF invests in high quality instruments with issue or entity rating of ‘AA’ and above, thus seeking to provide maximum capital preservation for your investment. With a stability rating of ‘AA(f)’, MCF provides you ease of entry and exit2 with no hidden charges.
Features
- The first Shariah compliant1 Money Market Fund in Pakistan
- ‘AA(f)’ stability rating by JCR-VIS
- Aims to provide maximum preservation of principal amount
- Readily encashable within two working days
- No front end and back end load2
- No exposure to long-term fixed income instruments and stock market
- Ideal parking avenue for short-term funds
- Flexibility to get payment on monthly, quarterly or semi-annual basis
- Attractive Tax free returns3
- Tax credit upto Rs. 60,000/- (for salaried person) or Rs. 75,000/- (for self employed) 4
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1 Monitored by Shariah Supervisory Board of Meezan Bank, headed by eminent Shariah scholar Justice (Retd.) Mufti Muhammad Taqi Usmani.
2 Back end load @ 0.1% if redeemed within first 3 days of investment
3 Under applicable tax laws
4 As per Section 62 of Income Tax Ordinance 2001, on investment upto Rs. 300,000/- tax credit of Rs. 60,000/- or 75,000/- can be availed if taxable income is Rs. 8,650,000 and tax rate is 20% or 25% subject to that the investment is held for a period of one year.
Risk disclosure
All investments in mutual funds are subject to market risks. The NAV of units may go up or down based on the market conditions past performance is not necessarily indicative of future results. Please read Offering Document to understand the investment policies and risks involved.