UBL Fund Managers Limited has announced the launch of its new open-end fixed-income mutual fund, 'United Growth & Income Fund' (UGIF). The fund is targeted towards medium to long term investors, who may be hesitant due to stock market volatility but seek greater investment potential.
The objective of UGIF is to provide attractive returns on investment, keeping a balance of income and growth, and endeavouring to preserve the capital over long term. The fund will achieve this by investing in portfolios of high quality fixed income instruments like Government Bonds, Term Finance Certificates, Reverse Repo, and other related fixed income instruments. The fund, subject to approval from the Securities and Exchange Commission of Pakistan (SECP), may also invest in fixed income instruments outside Pakistan.
UGIF offers two investment options. Depending on the needs, investors can choose between UGIF 'Growth Units' or UGIF 'Income Units'.
'Growth Units' are suitable for long-term investors (3 years or more) who seek growth in their savings to meet their future expenditures.
Returns from Income Units would supplement investor's current income while preserving the capital: ideal for both corporate and individual investors. With UGIF, investors can enjoy tax-free returns (subject to government regulations).
UBL Fund Managers Limited is a wholly owned subsidiary of United Bank Limited (UBL) and has a track record of successfully managing open-end fund schemes for the last three-and-a-half years.