The Unit holders of Meezan Islamic Income Fund (MIIF/ the Fund) and the General Public are informed that Al Meezan Investment Management Limited, the management company of the Fund has decided to reduce charging of management fee from 10% to 6.5% of Gross Earnings of the Fund subject to minimum of 0.5% and maximum of 1.5% of average annual net assets.
The reduction in fee will take effect from Monday March 18, 2019.
The actual level of management fee shall be disclosed in the monthly Fund Manager’s Reports.