UBL Fund Managers Limited, one of Pakistan's leading asset management company, announced the launch of its new savings scheme; UBL Savings Income Fund (USIF). The scheme will open for public subscription from October 12, 2010. UBL Savings Income Fund (USIF) is an open-end income scheme that is designed especially for investors who are looking to earn a stable and competitive stream of income on their savings in the short to medium-term.
The scheme helps investors achieve this objective by investing in instruments such as Government securities, bank deposits and safe investment securities - ensuring the preservation of capital. The scheme does not invest in instruments such as Term Finance Certificates (TFCs)/Sukuks, and also has no exposure to the stock market. The Chief Executive Officer of UBL Fund Managers, Mir Muhammad Ali, CFA commented on the occasion that "UBL Savings Income Fund (USIF) provides an ideal savings opportunity for investors who want more out of their savings.-PR
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