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 March 31, 2021) is 16.17%
- 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 25 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
*Investors are encouraged to consult their Investment advisors prior to investing in the product.
Note: Medium Risk means Risk of Principal Erosion is Medium
Key Features
| Scheme Name | Meezan Islamic Income Fund |
|---|---|
| Scheme Type | Open-end Islamic Income Fund |
| Date of Inception | January 15, 2007 |
| Fund Size – March 31, 2021 | Rs.37.26 Billion |
| 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. A secondary objective is to take advantage of opportunities to realize capital appreciation. |
| Benchmark | 6 months average deposit rates of 3 A- rated islamic Banks |
| Minimum Investment Amount | Rs.5,000 (and Rs. 1,000 thereafter) |
| Management Fee | Up to 6.5% of Gross Earnings (min. 0.25% of avg. annual net assets max. 1.5% of avg. annual net assets) |
| Lock-in Period | None |
| Entry Load | 1.0% |
| Exit Load | Contingent Load for Type C unit investors |
| Selling and Marketing Expense | 0.4% |
| Tax Benefits | Tax credit (as per prevailing Tax Rules)* on maximum 20% of your taxable income or Rs. 20 Lac, whichever is lower. *Under Section 62 of the Income Tax Ordinance 2001 |
| Systematic Investment Plan Facility | Yes |
| Fund performance Highlights | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MIIF Returns | 11.6% | 7.92% | 4.26% | 5.09% | 5.76% | 8.15% | 11.90% | 14.45% | 7.79% | 11.77% | 7.31% |
| Benchmark Returns | 6.3% | 3.69% | 2.44% | 2.78% | 3.49% | 5.04% | 5.38% | 5.54% | 6.02% | 5.88% | 5.80% |
| MIIF Dividend ( Rupees per unit) | 5.8863 | 4.0472% | – | 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)
| Fund Name | Applicable Date | Management Fee |
|---|---|---|
| Meezan Islamic Income Fund Type B Units | 2021-06-22 | 0.50 |
| Meezan Islamic Income Fund Type B Units | 2021-06-21 | 0.50 |
| Meezan Islamic Income Fund Type B Units | 2021-06-18 | 0.50 |
| Meezan Islamic Income Fund Type B Units | 2021-06-17 | 0.50 |
| Meezan Islamic Income Fund Type B Units | 2021-06-16 | 0.50 |
| Meezan Islamic Income Fund Type B Units | 2021-06-15 | 0.50 |
| Meezan Islamic Income Fund Type B Units | 2021-06-14 | 0.50 |
| Meezan Islamic Income Fund Type B Units | 2021-06-11 | 0.50 |
| Meezan Islamic Income Fund Type B Units | 2021-06-10 | 0.50 |
| Meezan Islamic Income Fund Type B Units | 2021-06-09 | 0.50 |
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 VIS & PACRA, 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 March 31, 2021) is 12.15%
- Managed by the only Shariah compliant Asset Management Company in Pakistan with a solid track record of over 25 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.
*Investors are encouraged to consult their Investment advisors prior to investing in the product.
Note: Moderate Risk means Risk of Principal Erosion is moderate
Key Features
| Scheme Name | Meezan Sovereign Fund |
|---|---|
| Scheme Type | Open-end Islamic Government Securities Fund |
| Date of Inception | February 10, 2010 |
| Fund Size – March 31, 2021 | Rs.8.84 Billion |
| 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 | 6 Months PKISRV Rate |
| Minimum Investment Amount | Rs.5,000 (and Rs. 1,000 thereafter) |
| Lock-in Period | None |
| Management Fee | Up to 0.6% p.a.(min 0.25) |
| Entry Load | 1.0% |
| Exit Load | Nil |
| Selling and Marketing Expense | 0.4% |
| Tax Benefits | Tax credit (as per prevailing Tax Rules)* on maximum 20% of your taxable income or Rs. 20 Lac, whichever is lower. *Under Section 62 of the Income Tax Ordinance 2001 |
| Systematic Investment Plan Facility | Yes |
| Fund performance Highlights | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MSF Returns | 11.2% | 7.02% | 2.57% | 6.57% | 6.81% | 6.81% | 8.50% | 9.11% | 11.19% | 11.45% | 9.76%* |
| Benchmark Returns | 7.9% | 7.15% | 4.96% | 4.65% | 6.24% | 6.24% | 6.55% | 6.91% | 8.13% | 8.24% | 7.50% |
| MSF Dividend (Rupees per unit) | 5.6990 | 3.5911% | – | 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 March 31, 2021) is 12.31%
- 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 25 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
*Investors are encouraged to consult their Investment advisors prior to investing in the product.
Note: Low Risk means Risk of Principal Erosion is low
Key Features
| Scheme Name | Meezan Cash Fund |
|---|---|
| Scheme Type | Open-end Islamic Money Market Fund |
| Date of Inception | June 15, 2009 |
| Fund Size – March 31, 2021 | Rs.14 Billion |
| 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 | 3 Months average deposit rates of 3 AA rated Islamic Banks |
| Minimum Investment Amount | Rs.5,000 (and Rs. 1,000 thereafter) |
| Lock-in Period | None |
| Management Fee | Up to 0.6% p.a.(min 0.10) |
| Entry Load | Nil |
| Exit Load | 0.1% (if redeemed within 3 days) |
| Selling and Marketing Expense | 0.4% |
| Tax Benefits | Tax credit (as per prevailing Tax Rules)* on maximum 20% of your taxable income or Rs. 20 Lac, whichever is lower. *Under Section 62 of the Income Tax Ordinance 2001 |
| Systematic Investment Plan Facility | Yes |
| Fund performance Highlights | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCF Returns | 10.95% | 7.84% | 4.27% | 6.07% | 4.59% | 7.46% | 7.08% | 8.78% | 10.71% | 11.02% | 10.09% |
| Benchmark Returns | 5.37% | 3.37% | 2.58% | 2.90% | 4.49% | 6.24% | 6.55% | 6.91% | 8.13% | 8.24% | 7.50% |
| MCF Dividend ( Rupees per unit) | 5.4787 | 3.9218% | – | 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
Meezan Rozana Amdani Fund is an Open Ended Shariah Compliant Money Market Scheme.
Investment Objective & Philosophy
The objective of the Fund is to meet liquidity needs of investors by providing investors a daily payout through investment in Shariah Compliant money market instruments.
The Fund shall be subject to such exposure limits as are specified in the Rules, the Regulations and directives issued by SECP from time to time. The Fund will make daily payout to the unit holders, which will be reinvested.
Key Benefits
- Competitive Halal Returns
- Provides higher returns then bank saving account
- Good Avenue for short term investments
- Daily Dividend Units Distributed into investor’s account
- Easy Online Investment & redemption Facility Available
- Easy access through Mobile Application & Member Service Area
Note: Low Risk means Risk of Principal Erosion is low
Key Features
| Scheme Name | Meezan Rozana Amdani Fund |
|---|---|
| Categorization of the Fund | Shariah compliant Money Market Scheme |
| Date of Inception | December 26, 2018 |
| Fund Size – March 31, 2021 | Rs. 45.52 billion |
| Benchmark | Three (3) months average deposit rates of three (3) AA rated Islamic banks. |
| Minimum Investment | Initial PKR 5 Lakhs/- or above Subsequent PKR 500,000/- or above |
| Payout Policy | The fund on a daily basis shall distribute all net profit (after deducting unrealized gains and all expenses of the fund) as dividend and that dividend shall be reinvested after deducting applicable taxes. |
| Front & Bank End Load | Nil |
| Management Fee | Up to 3.5% of gross earnings subject to minimum floor of 0.10% of net assets p.a and maximum cap of 0.75% of net assets p.a |
| Target Towards |
|
| Fund Name | Applicable Date | Payout | Management Fee |
|---|---|---|---|
| Meezan Rozana Amdani Fund*** | 2021-06-22 | 0.0101 | 0.20 |
| Meezan Rozana Amdani Fund*** | 2021-06-21 | 0.0298 | 0.20 |
| Meezan Rozana Amdani Fund*** | 2021-06-18 | 0.0100 | 0.20 |
| Meezan Rozana Amdani Fund*** | 2021-06-17 | 0.0100 | 0.20 |
| Meezan Rozana Amdani Fund*** | 2021-06-16 | 0.0100 | 0.20 |
| Meezan Rozana Amdani Fund*** | 2021-06-15 | 0.0100 | 0.20 |
| Meezan Rozana Amdani Fund*** | 2021-06-14 | 0.0294 | 0.20 |
| Meezan Rozana Amdani Fund*** | 2021-06-11 | 0.0098 | 0.20 |
| Meezan Rozana Amdani Fund*** | 2021-06-10 | 0.0098 | 0.20 |
| Meezan Rozana Amdani Fund*** | 2021-06-09 | 0.0097 | 0.20 |
Risk Disclaimer: All Investments in mutual Fund are subject to market risks. The NAV of Units may go down or up based on the market conditions. The investors are advised in their own interest to carefully read the contents of the Offering Document, in particular the Investment Policies mentioned in clause 2, Risk Factors mentioned in clause 2.4, Taxation Policies mentioned in Clause 7 and Warnings and Disclaimer mentioned in Clause 9 before making any investment decision.