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 1.5% of the annual average net assets to 10% of Gross Earnings of the Fund subject to the minimum of 0.5% of average annual net assets and maximum of 1.5% of average annual net assets.
The reduction in fee shall take effect from Thursday November 16, 2017.
The actual level of management fee shall be disclosed in the monthly Fund Manager’s Reports.