Commodity Funds

Meezan Gold Fund

Meezan Gold Fund

Investment Objective

Meezan Gold Fund aims to provide maximum exposure to prices of Gold in a Shariah Compliant (Islamic) manner, by investing a significant portion of the Fund’s net assets in deliverable gold-based contracts available on Pakistan Mercantile Exchange (PMEX).

Investment Strategy

To meet Fund’s investment objective, at least seventy percent (70%) of Fund’s net assets, will remain invested in deliverable gold-based contracts available at a Commodity Exchange, during the year based on quarterly average investment calculated on daily basis.

Remaining net assets of the Fund shall be invested in cash and near cash instruments which include cash in bank accounts of Islamic banks and licensed Islamic banking windows of conventional banks (excluding TDR). However, at least 10% of the net assets of the Fund shall remain invested in cash and near cash instruments based on monthly average calculated on daily basis.

Benefits at a Glance

  • Affordable Investment in the form of divisible units with low initial minimum investment amount requirement
  • Security without hassle of buying, storing and transporting physical gold
  • An effective hedge against rising gold prices for long term purchase of gold jewelry
  • A convenient means of diversification for investment portfolios
  • Professional Management of your savings by experienced fund managers with a proven track record
  • Under the supervision of a reputable Shariah Advisor; Dr. Imran Ashraf Usmani

Choose this Fund If You Are Seeking

  • Capital appreciation over the long-term
  • A hedge against inflation or currency devaluation

Fund Facts

Fund Type

Open End

Fund Category

Commodity Fund

Launch Date

13th Aug, 2015

Fund Size

1,705.44 Mn

as on April 30th, 2024

Benchmark

Combination of 70% PKR base closing price of physical gold and 30% 3 Month average deposit rates of 3 AA rated Islamic Banks

Risk Profile

High

Unit Types

C

Management Fee

Up to 1.5%

Actual Rate of Management Fee

1%

Front End Load

2%

Bank End Load

Nil

Trustee

CDC

Central Depository Company Pakistan Limited

Listing

PSX

Pakistan Stock Exchange

Fund Manager

Ali Hassan Khan

CFA, FRM

Asset Manager Rating

AM1

by VIS & PACRA
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Fund Performance

FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16* FY15
MGF 52.45% 24.83% -0.65% 23.76% 30.40% 12.00% -7.20% 10.50% -
Benchmark 48.39% 22.71% 2.12% 21.31% 27.60% 12.70% -2.90% 16.00% -
* 322 Days of Operations