United Bank Limited (UBL) Fund Managers, a bank subsidiary, has opened its eighth investment centre in Model Town here on Wednesday. UBL Fund Managers Chief Executive Officer (CEO) Mir Muhammad Ali inaugurated the centre, which is the second in the provincial capital.
While taking to reporters, Ali said at present the Fund is managing Rs 25 billion worth of assets and they were planning to expand their operations. UBL Funds Manager is currently the largest asset management company operating in the private sector," he added.
According to him, the company has announced a record bonus distribution of Rs 2.4 billion for the year ended June 30, 2007 for its four open ended mutual funds.
The UBL Fund Managers is the first asset management company in Pakistan to introduce the concept of specialised investment centrs. The idea behind these centres is to offer clients a relaxed and comfortable environment where they can meet with an experienced and friendly team of investment advisors and discuss their financial goals.
He told the reporters that the company was operating investment centres in six major cities of Pakistan, including Karachi, Lahore, Islamabad, Rawalpindi, Peshawar and Multan. "We will soon set up another outlet in Lahore, most probably in DHA," he added.
Responding to a question, he said it was a right time to invest in stock markets. "With a range of investment products ranging from short-term to long-term, low risk to aggressive and Islamic Shariah Compliant options, UBL Fund Managers offers wide ranging investment solutions for a broad spectrum of investors," he added.