Al Meezan to launch first Shariah compliant cash fund

Al Meezan Investments, Pakistan’s largest Shariah compliant asset management company is in process of launching two new open-end funds namely Meezan Cash Fund and Meezan Asset Allocation Fund in order to cater to the needs of the investors. This was announced in a press release issued by the company on signing of the Trust Deed of Meezan Cash Fund and Meezan Asset Allocation Fund.
The Trust Deeds of the funds were signed between Al Meezan Investments as the Management Company and The Central Depository Company of Pakistan (CDC) as the Trustee in a ceremony held at the Head Office of Al Meezan Investments. Al Meezan Investment was represented by its CEO, Mr. Mohammad Shoaib, CFA, and CDC was represented by Kamran Kazi, CFO & Company Secretary.
Currently, no specialized Islamic income/money market fund is available for investors. Meezan Cash Fund (MCF) will be the first Shariah compliant money market fund in Pakistan which will provide competitive returns to the investors from a Shariah compliant portfolio of assets having low risk and short term maturity while offering high liquidity.

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