KSE Meezan Index Fund
KSE Meezan Index Fund (KMIF) is an open-end Shariah Compliant index- tracker scheme. The fund enables investors to seek exposure to the KMI-30 index stocks in the same proportion as in the index.
Investment Objective & Philosophy
KMIF aims to mimic the performance of the KMI 30 index by using passive investment strategies with the objective to provide investors returns that are closely aligned with the returns of the tracked / benchmarked index. The fund only invests in stocks of companies included in the KMI 30 Index.
Key Benefits
- Only fund that aims to track the most sought after Islamic Index available in Pakistan
- A one-stop solution for putting your money into every single company that constitutes the KMI 30 Index.
- Low cost in relation to lower Management Fee charged by the fund.
- The Fund has generated a total return of 143.34% since inception (May 23, 2012 till December 31, 2020).
- Average Annualized return since inception (May 23, 2012 till December 31, 2020) is 10.88% in PKR terms.
- 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*:
- Cost efficient way to invest in KMI 30 Index
- A passive investment philosophy and do not want to be dependent on security selection and sector allocation by Fund Manager
- High risk and return potential
*Investors are encouraged to consult their Investment advisors prior to investing in the product.
Investment Growth
If you invested Rs. 100,000 in KMIF at the time of launch in May 2012, the value of your investment has increased by 143.34% to reach Rs. 243,340 as on December 31, 2020
Note: High Risk means Risk of Principal Erosion is High
Key Features
| Scheme Name | KSE Meezan Index Fund |
|---|---|
| Scheme Type | Open-end Islamic Index Tracker Fund |
| Date of Inception | May 23, 2012 |
| Fund Size – December 31, 2020 | Rs. 2.54 Billion |
| Objective of the scheme | The objective of the fund is to provide investors an opportunity to track closely the performance of the KSE-Meezan Index 30 (KMI 30) by investing in companies of the Index in proportion to their weightage. |
| Benchmark | KMI-30 Index |
| Minimum Investment Amount | Rs.5,000 (and Rs. 1,000 thereafter) |
| Lock-in Period | None |
| Management Fee | 1% |
| Entry Load | 2% |
| Exit Load | Nil |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| KMIF Returns | 0.9% | -25.0% | -11.2% | 15.9% | 13.3% | 17.1% | 26.50% | 49.60% | -2.4%* |
| KMI 30 – Index Returns | 1.6% | -23.8% | -9.6% | 18.8% | 15.5% | 20.1% | 29.90% | 54.40% | -1.9% |
| KMIF Dividend ( Rupees per unit) | – | – | – | 12.00* | 2.32* | 1.85 | 9.80 | 15.40 | N/A* |
*Launch date May23, 2012
*Interim Dividend for the period (July 1, 2016 – June 22, 2017)
Note: For details on Tax Credit, please Click Here