Meezan Islamic Income Fund is Pakistan’s first Shariah compliant income fund scheme. The purpose of Meezan Islamic Income Fund is to provide investors with a safe and stable stream of Halal income on their investments and to generate superior long term risk adjusted returns.
Investment Objective & Philosophy
The Fund’s primary objective is to provide investors with a competitive and stable rate of current income in a Shariah compliant way. It also aims to take advantage of opportunities to realize capital appreciation.
The Fund aims to provide the investors with a total return consistent with a broadly diversified portfolio of long, medium and short term, high quality Islamic income Instruments such as Sukuks (Islamic bonds), Certificates of Investment, commercial papers, government securities and bank placements.
Key Benefits
- Meezan Islamic Income Fund is Pakistan’s first Shariah Compliant open-end Income Fund.
- It may provide diversification opportunity when added to a hybrid investment portfolio thus resulting in lower risk and healthy return on your investment
- Average Annualized return since inception (January 15, 2007 till June 30, 2017) is 14.35%
- Strong long-term performance track record both in absolute terms and relative to its benchmark
- Managed by the only Shariah compliant Asset Management Company in Pakistan with a solid track record of over 20 years, and under the supervision of the Shariah Supervisory Board of Meezan Bank headed by Justice (Retd.) Mufti Muhammad Taqi Usmani
This product is suitable for investors who are seeking* :
- Protection of investments from stock market volatility, while providing diversification to the overall investment portfolio
- Long term regular income solution
- Moderate risk and return potential (Yellow)
*Investors are encouraged to consult their Investment advisors prior to investing in the product.
Note: Risk is represented as:
LowMediumHigh
Key Features
| Scheme Name | Meezan Islamic Income Fund |
|---|---|
| Scheme Type | Open-end Islamic Income Fund |
| Date of Inception | January 15, 2007 |
| Fund Size – June 30, 2017 | Rs. 11,781 million |
| Objective of the scheme | The Fund’s primary objective is to provide investors with a high and stable rate of current income consistent with long term preservation of capital in a Shariah compliant way. |
| Benchmark | Average bank deposit rate of three Islamic banks |
| Minimum Investment Amount | Rs.5,000 (and Rs. 1,000 thereafter) |
| Lock-in Period | None |
| Management Fee | 1.5% |
| Entry Load | 0.5% |
| Exit Load | Contingent Load for Type C unit investors |
| Tax Benefits | Tax credit (as per prevailing Tax Rules)* on maximum 20% of your taxable income or Rs. 1,500,000, whichever is lower. *Under Section 62 of the Income Tax Ordinance 2001 |
| Systematic Investment Plan Facility | Yes |
| Fund performance Highlights | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|
| MIIF Returns | 5.1% | 5.76% | 8.15% | 11.90% | 14.45% | 7.79% | 11.77% | 7.31% |
| Benchmark Returns | 2.8% | 3.49% | 5.04% | 5.38% | 5.54% | 6.02% | 5.88% | 5.80% |
| MIIF Dividend ( Rupees per unit) | 2.50* | 2.50* | 3.40 | 5.78 | 6.75 | 3.97 | 6.25 | 3.135 |
*Interim Dividend for the period (July 1, 2016 – June 20, 2017)
Note: For details on Tax Credit, please Click Here
Meezan Sovereign Fund is Pakistan’s first Shariah compliant government securities fund. The purpose of Meezan Sovereign Fund is to safeguard the principal investment amount of an investor along with providing stable and healthy returns.
Investment Objective & Philosophy
The Fund’s primary objective is to provide maximum possible preservation of capital and a reasonable rate of return by investing primarily in Shariah compliant Government Securities.
MSF primarily invests in government securities, which enjoy the highest possible rating of “AAA”. The fund has been awarded stability rating of ‘AA(f)’ by JCR-VIS, which denotes high degree of stability in net asset value of the fund.
Key Benefits
- The first Shariah compliant open-end government securities fund in Pakistan
- Provides maximum preservation of principal amount along with stable and consistent returns on the investment
- Average Annualized return since inception (February 10, 2010 till June 30, 2017) is 11.09%
- Managed by the only Shariah compliant Asset Management Company in Pakistan with a solid track record of over 20 years, and under the supervision of the Shariah Supervisory Board of Meezan Bank headed by Justice (Retd.) Mufti Muhammad Taqi Usmani
This product is suitable for investors who are seeking* :
- Stable returns and want to avoid volatility of other fixed income instruments and stock market
- To minimize the risks while maximizing liquidity.
- Low risk and return potential (Blue)
*Investors are encouraged to consult their Investment advisors prior to investing in the product.
Note: Risk is represented as:
LowMediumHigh
Key Features
| Scheme Name | Meezan Sovereign Fund |
|---|---|
| Scheme Type | Open-end Islamic Government Securities Fund |
| Date of Inception | February 10, 2010 |
| Fund Size – June 30, 2017 | Rs. 4,334 million |
| Objective of the scheme | The Fund’s primary objective is to seek maximum possible preservation of capital and a reasonable rate of return by investing primarily in Shariah compliant government securities. |
| Benchmark | Average return on 6-month Islamic bank deposits |
| Minimum Investment Amount | Rs.5,000 (and Rs. 1,000 thereafter) |
| Lock-in Period | None |
| Management Fee | 1% |
| Entry Load | 0.5% |
| Exit Load | Nil |
| Tax Benefits | Tax credit (as per prevailing Tax Rules)* on maximum 20% of your taxable income or Rs. 1,500,000, whichever is lower. *Under Section 62 of the Income Tax Ordinance 2001 |
| Systematic Investment Plan Facility | Yes |
| Fund performance Highlights | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|
| MSF Returns | 6.6% | 6.81% | 6.81% | 8.50% | 9.11% | 11.19% | 11.45% | 9.76%* |
| Benchmark Returns | 4.7% | 6.24% | 6.24% | 6.55% | 6.91% | 8.13% | 8.24% | 7.50% |
| MSF Dividend (Rupees per unit) | 2.75* | 2.25* | 3.45 | 3.69 | 4.40 | 5.36 | 5.52 | 1.80* |
*Interim Dividend for the period (July 1, 2016 – June 22, 2017)
Note: For details on Tax Credit, please Click Here
Meezan Cash Fund is Pakistan’s first Shariah compliant money market fund. MCF aims to bring you stable and Halal returns through avoiding volatility of both long-term fixed income securities and stock markets.
Investment Objective & Philosophy
The Fund’s primary objective is to seek maximum possible preservation of capital and a reasonable rate of return via investing primarily in liquid and short term Shariah compliant money market and debt securities.
The Fund invests in high quality instruments with issue or entity rating of minimum ‘AA’, thus seeking to provide maximum capital preservation for your investment. It is an ideal parking avenue for short-term cash parking with great liquidity.
Key Benefits
- The first Islamic money market Fund in Pakistan.
- Maximum preservation of principal investment resulting in lower risk
- Average Annualized return since inception (January 15, 2007 till June 30, 2017) is 11%
- High liquidity (redemption within one-two working days)
- Managed by the only Shariah compliant Asset Management Company in Pakistan with a solid track record of over 20 years, and under the supervision of the Shariah Supervisory Board of Meezan Bank headed by Justice (Retd.) Mufti Muhammad Taqi Usmani
This product is suitable for investors who are seeking* :
- Parking avenue for short-term funds
- Stable and Halal returns avoiding volatility of both long-term fixed income securities and stock markets
- Low risk and return potential (Blue)
*Investors are encouraged to consult their Investment advisors prior to investing in the product.
Note: Risk is represented as:
LowMediumHigh
Key Features
| Scheme Name | Meezan Cash Fund |
|---|---|
| Scheme Type | Open-end Islamic Money Market Fund |
| Date of Inception | June 15, 2009 |
| Fund Size – June 30, 2017 | Rs. 3,350 million |
| Objective of the scheme | To seek maximum possible preservation of capital and a reasonable rate of return via investing primarily in liquid Shariah compliant money market and debt securities. |
| Benchmark | Average return on 6-month Islamic bank deposits |
| Minimum Investment Amount | Rs.5,000 (and Rs. 1,000 thereafter) |
| Lock-in Period | None |
| Management Fee | 1% |
| Entry Load | Nil |
| Exit Load | 0.1% (if redeemed within 3 days) |
| Tax Benefits | Tax credit (as per prevailing Tax Rules)* on maximum 20% of your taxable income or Rs. 1,500,000, whichever is lower. *Under Section 62 of the Income Tax Ordinance 2001 |
| Systematic Investment Plan Facility | Yes |
| Fund performance Highlights | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|
| MCF Returns | 6.1% | 4.59% | 7.46% | 7.08% | 8.78% | 10.71% | 11.02% | 10.09% |
| Benchmark Returns | 2.9% | 4.49% | 6.24% | 6.55% | 6.91% | 8.13% | 8.24% | 7.50% |
| MCF Dividend ( Rupees per unit) | 2.75* | 2.25** | 3.70* | 3.42 | 4.24 | 5.07 | 5.26 | 4.94 |
*Interim Dividend for the period (July 1, 2016 – June 22, 2017)
Note: For details on Tax Credit, please Click Here