Logo
SearchLeft   Search Right SearchRightCorner
 
       




   
Tab Left Corner
 
NewMIF
0800-HALAL
Tab Right Corner
 
Meezan Islamic Fund
Meezan Islamic Fund (MIF) is not only the largest Shariah compliant equity fund but also the largest Equity Fund in private sector in Pakistan.
Fund Statistics:
Fund Type Equity
Launch Date 8-Aug-03
Trustee Central Depository Company
Benchmark DJIMPK
Auditors A.F. Ferguson
Management Fee 2 %
Front End Load 2.25%
Listing KSE
Rating 3 Star by JCR-VIS
It is our flagship fund and has been rated 3-Star by JCR-VIS.  MIF was launched on 8th August 2003 as the first open end mutual fund of Al Meezan Investments. 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 MIIF
  • 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. 60,000/- in case of salaried person or upto Rs 75,000/- in case of non salaried person on investments upto Rs. 300,000/- 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.
  • Affordability

    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 Investments 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.
Performance History
Description 2003-2004* 2004-2005 2005-2006 2006-2007 2007-2008
Dividend Per Unit (Rs.) *1 7.5 17.5 17.5 15.6 10
% of Opening NAV  15.00% 32.15% 29.81% 26.61% 16.70%
% of Face Value (i.e., Rs. 50 / unit) 15.0% 35.0% 35.0% 31.2% 20.0%
* from August 2003 to June 2004 *1 Stock dividend to Growth Unit holders and Cash dividend to Income Unit holders
  • The Fund size has increased till June 30, 2008 by 1061% since inception
  • Net Assets stand at Rs. 6,035 million as on June 30, 2008,depicting 64% grwoth on year on year basis
  • Cumulative return of 190% since inception as on June 30, 2008.

 

Corporate Profile | Our Services | Mutual Funds | Investment Plan | Knowledge Centre | Careers
© 2008, Al Meezan Investment Management Ltd.   Login
Powered by Plexus (Pvt.) Limited
Footer