Al Meezan Investment Management Ltd (Al Meezan) has announced the launch of country's first Shariah Compliant Government Securities Fund - Meezan Sovereign Fund (MSF). The fund will be available for initial public subscription from February 10, 2010 to February 12, 2010 (both days inclusive). During the initial launch period investor will get an opportunity to invest in the fund at the par value of Rs 50/- per unit.
The Offering Document and Trust Deed of the fund are available on website www.almeezangroup.com. However, Investors may also get information about MSF by dialling 0800-HALAL (42525). The launch of MSF is another milestone for Al Meezan. Being the first Shariah compliant Sovereign Fund in Pakistan, MSF aims to provide maximum capital preservation along with Halal and competitive returns by primarily investing in a portfolio of Shariah compliant government securities thus minimising the risks while maximising liquidity.
MSF is ideal for investors who have low risk appetite and want to avoid volatility of other fixed income instruments and stock markets. MSF primarily invests in government securities, which enjoy the highest possible rating of AAA. As a result, the fund has been awarded stability rating of 'AA+(f)'by JCR-VIS, which denotes the high degree of stability in net asset value of the Fund.-PR
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