ABAMCO Limited is expected to launch an ABAMCO Composite Fund by next month to maximise the total investment return, which would consist of a combination of capital appreciation and income.
ABAMCO's investment will be Rs 300 million while Rs 1.950 billion will be raised from banks and other financial institutions and Rs 750 million through initial public offering.
According to information gathered on ABAMCO Fund, the main objective is to enable the certificate holders to participate in a diversified portfolio of securities representing investments in the capital and money markets of the country.
Consistent with this policy, ABAMCO Composite Fund will invest primarily in equity securities and shares of large-cap companies having market capitalisation of over Rs 1 billion.
The Fund will also invest in debt securities up to a maximum of 20 percent of the net assets of the fund, including term finance certificates, bonds, convertible bonds, Euro bonds, Global Deposit Receipts and other asset-backed or mortgage-backed securities.
ABAMCO Composite Fund will only invest in shares of companies, which are either: consistently paying dividends, having growth prospects and are actively traded.
ABAMCO is presently managing three open ended mutual funds, namely Unit Trust of Pakistan, UTP-Income Fund, UTP Islamic Fund and four closed end mutual funds, namely BSJS Balanced Fund, ABAMCO Capital Fund (former 21st, 23rd and 25th ICP Mutual Funds), ABAMCO Capital Fund (former 1st, 3rd, 8th, 11th, 12th, 15th, 19th, and 20th ICP Mutual Funds) and 4th ICP Mutual Funds.
The total net assets of the funds under the management of ABAMCO are over Rs 10.4 billion.
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