Meezan Islamic Fund (MIF) is not only the largest Shariah compliant equity fund but also the largest Equity Fund in private sector in Pakistan.
||Central Depository Company
|Front End Load
||5 Star by JCR-VIS
It is our flagship fund and has been rated 5-Star by JCR-VIS. MIF was launched on 8th August 2003 as the first open end mutual fund of Al Meezan. MIF operates with a clear and well defined investment objective – To invest only in Shariah compliant instruments. Under all applicable rules and regulations of the SECP, the fund ensures an investment policy that is strictly in accordance with approved Islamic principles and Riba-Free.
MIF invests in combination of income and growth stocks of Shariah compliant companies with demonstrated track record of profitability and stable dividend payout history.
Salient Features of MIF
- Risk Diversification
MIF reduce the risk of volatility of prices by investing your money in a well defined portfolio of securities.
- Cost Efficiencies
The per unit research and execution costs of a fund manager are also lower due to the large size of portfolio under management.
- Professional Management
Our fund managers are trained investment professionals. Their knowledge provides you and opportunity to earn greater risk adjusted returns. Also by investing in MIF, you pass on the job of continuous monitoring and evaluation of investment opportunities to the Fund manager.
- Tax Credit
Investment in MIF enables you to get tax benefit upto Rs. 100,000/- in case of salaried person or upto Rs 125,000/- in case of non salaried person on investments upto Rs. 500,000/- under applicable tax laws, if investment is held for a period of one year.
- Healthy Return
Apart from tax benefit, MIF also provides you a healthy return on your investment.
A minimum investment of Rs. 5,000 makes MIF an affordable investment for small investors. Subsequent investments can be made with a minimum amount of Rs. 1,000. There is no cap on maximum amount of investment
Besides providing all the other benefits associated with investment in mutual funds, MIF gives added comfort of being backed by strong sponsors, professional fund managers, credible Shariah advisors and a carefully selected portfolio of investments which ensure financial prudence as well as Shariah Compatibility.
All investments in MIF are screened for Shariah compliance based on the criteria approved by the Meezan Bank’s Shariah Supervisory Board, which is headed by eminent Shariah scholar Justice (Retd.) Mufti Muhammad Taqi Usmani. For reviewing Shariah Criteria please click here
. With such a strong and reputed Islamic foundation, Al Meezan uses its fund management expertise to satisfy your investment needs for Halal and Riba-Free returns.
Being an open end mutual fund, its units can be purchased or redeemed on a continuous basis. Thus, the investor will have the freedom to enter the fund by purchasing units at the offer price and to exit the fund by redeeming units at the redemption price on any of the dealing days. The par value of MIF is Rs. 50/- per unit, while the prevailing rates are based on Net Asset Value (NAV) of the day of transaction.