CHANGE IN MANAGEMENT FEE AND ALLOCATED EXPENSES
The Unit holders of following Funds under Management of Al Meezan Investment Management Limited (Al Meezan) are informed that, effective May 08, 2021, Management Fee and Allocated Expenses in following funds are being accrued as per below mentioned schedule;
|Fund||Management Fee*||Allocated Expense|
|Meezan Cash Fund (“MCF”)||0.60%||0.25%|
|Meezan Rozana Amdani Fund (“MRAF”)||0.25%||0.25%|
* As per constitutive documents, following are the allowed limits of charging Management fees in above funds;
– MCF Up to 0.60% of average annual net assets
– MRAF Up to 3.5% of gross earnings.