UBL Fund Managers Limited (UBL Funds) has been appointed as the official Investment Advisor for Federal Employees Benevolent (FEB) and Group Insurance Funds. The investment advisory agreement between UBL Funds and FEB was executed in early January. FEB current fund size is in excess of Rs 20 billion.
Federal Employees Benevolent and Group Insurance Funds is a government body established in 1969 and provides several welfare grants and insurance coverage to all Federal Government employees and other autonomous bodies. To manage their investment portfolio, Federal Employees Benevolent and Group Insurance Funds were in need of an Investment Advisor. For this purpose, eight Asset Management and Investment Advisory Companies were called upon to present their Investment Advisory credentials. After a long and rigorous selection process, UBL Funds was selected based on a number of quantitative and qualitative factors; including Funds and SMA performance, industry experience, investment advisory and research process, proposed portfolio etc.
Mir Muhammad Ali, CEO UBL Funds, stated "with our experience of managing various investment instruments and classes, consistent performance over time and a series of innovations in the financial industry over the last decade, we are confident that we will be able to guide them in making the right investment decisions."-PR
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