December 14, 2016- Karachi: Al Meezan Investment Management Limited (Al Meezan) is pleased to announce the addition of a new fund category to it’s product suite, in the form of Meezan Energy Fund (MEF). This sector-specific equity fund has been specially structured and introduced to provide the investors with yet another unique investment avenue that aims to benefit from the growth in Pakistan’s energy sector by solely investing in the energy sector. The fund is now open for subscription.
Mohammad Shoaib, CFA, the CEO of Al Meezan Investments, while announcing the launch of the Fund said “Al Meezan has continued to address the investors’ needs by offering speciality products in differnet categories. Meezan Energy Fund as a speciality product offers a simple way to gain exposure exclusively to Pakistan’s energy sector stocks and thereby fully capture the opportunity to gain from the upside that is expected in the coming years. Likewise, in 2015 we had launched Meezan Gold Fund- Pakistan’s first Shariah compliant commdoity scheme in our products suite.”.
In the wake of the rapidly changing current global economic scenario and ongoing developments pertaining to China – Pakistan Economic Corridor (CPEC) projects in the country there was a need of energy funds in the industry. These and a host of other developments, including the gradual focus and shift towards renewal energies, do indeed present us with a great opportunity to capitalize on Investments within the sphere of energy, now and in future!
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. Al Meezan with AM2++ Management Quality Rating has the distinction of being the largest private sector Asset Management Company in Pakistan with total Assets under Management (AUMs) of about Rs. 97 billion (as on November 30, 2016) in 13 different funds and an investor base of over 49,000 clients. Al Meezan has to its credit Pakistan’s largest private sector Equity Fund i.e. Meezan Islamic Fund (MIF) and largest Voluntray 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).