Al Meezan Investments’ Assets under Management crosses Rs. 10,000 Crore
Al Meezan Investments (Al Meezan) is pleased to announce the achievement of another milestone of Assets under Management (AUMs) of over Rs. 10,000 Crore (as on 07 Dec, 2016).
“This is a remarkable achievement and one that we all take enormous pride in. On this occasion, we thank Almighty Allah for our effective partnership with our valued investors taking Al Meezan and Shariah compliant investing to new heights year by year. We will Insha’Allah continue to work diligently to meet the demands of our investors and work towards our vision of making Shariah compliant investing first choice of investors”, said Chief Executive of Al Meezan Mohammad Shoaib, CFA.
“In 2003, when we launched our first open end fund – Meezan Islamic Fund, total assets under management of Al Meezan were Rs. 100 Crore. Over next four years, we increased our AUMs to Rs. 1,000 Crore. In the next three years, which was a very turbulent period for capital markets in Pakistan, we successfully crossed Rs. 2,500 billion mark. Subsequently 2014 was marked for crossing Rs. 5,000 Billion AUMs. Within a span of 24 months, we have been able to witness 100% growth making Al Meezan the only asset management company in the private sector to manage Assets of worth Rs. 10,000 Crore.”
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. With AM2++ Management Quality Rating, Al Meezan has the distinction of managing 14 mutual funds, several administrative plans and an investor base of over 49,000 clients. It has 14 branches in 8 major cities in Pakistan including Karachi, Lahore, Faisalabad, Islamabad, Peshawar, Multan, Abbottabad and Rawalpindi. Al Meezan has to its credit Pakistan’s largest private sector Equity Fund i.e. Meezan Islamic Fund (MIF) and largest Voluntary Pension Fund i.e. Meezan Tahaffuz Pension Fund (MTPF), with AUMs of Rs. 39.9 Billion and Rs. 7.5 Billion respectively (as on November 30, 2016).