Al Meezan Investment Management Limited (Al Meezan) is pleased to announce the launch of Meezan Capital Preservation Plan (MCPP-I), which is a plan based on the existing Meezan Financial Planning Fund of Fund (MFPF). The plan will use dynamic asset allocation strategy of Capital Proportion Portfolio Insurance (CPPI) for providing competitive returns while aiming to preserve the initial capital.
According to the CEO of Al Meezan Investments, Mohammad Shoaib, CFA, "This is the first ever Islamic capital preservation plan over a Fund of Fund in Pakistan and it is being launched on the demand of investors. We are confident that this will add a new dimension to address investors' need for capital preservation with a potential 100% exposure to the stock market."
MCPP-I objective is to enable investors to benefit from potentially high returns of a rising stock market while preserving their capital in a down-market by investing in Shariah compliant fixed income/money market based funds. The life of the plan is two years.
The past two similar schemes were Meezan Capital Preservation Fund - II (MCPF-II) and Meezan Capital Preservation Fund - III (MCPF-III) in which Al Meezan received an overwhelmingly positive response from its investors. This can be judged from the fact that in a mere span of eight months, Al Meezan is currently managing over Rs 5.3 Billion in its Capital Preservation Schemes.
All the investments of the funds will be made as per the guidelines laid down by Shariah Advisory Board of Meezan Bank Ltd. Al Meezan has been managing investments since 1995 and has one of the longest track records of managing mutual funds in the private sector in Pakistan. Al Meezan is the largest private sector Asset Management Company in Pakistan with total Assets under Management (AUMs) of over Rs 57 billion in 12 different funds and an investor base of over 26,000 clients. Al Meezan has to its credit Pakistan's largest private sector Equity Fund ie Meezan Islamic Fund (MIF) and largest Voluntary Pension Fund ie Meezan Tahaffuz Pension Fund (MTPF), with AUMs of over Rs 17 Billion and Rs 3 Billion respectively.-PR
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