The recent move by the SECP for discounting the TCF's portfolio has given the opportunity for the new individual and corporate investors to earn the best even returns for the investments to be made in income funds operating the country.
This was stated by Wajid Waheed Khan, C.O.O. Noman Abid Investment Management Limited (NAIML). He further remarked that income funds for the first time in the history are trading at discount which enables the new investor to purchase the units at low/discount prices and earn upto 15.5 percent returns on their investment. These returns may go higher when considering the tax rebate benefit which is being given exclusively to mutual fund investors.
Highlighting the performance of Reliance Income Fund (RIF), Khan further said, that the Reliance Income Fund (RIF) has secured fifth position in the mutual fund industry on the basis of quarterly results announced by NAIML on giving consolidated returns of 12.13 percent for three months performance ending the quarter 30th, September 2008.
However when compared, the last six month performance from the respective quarter, RIF has been able to secure fourth position in the industry. He remarked that RIF is committed to continue the practice of out performing the peer in the current year by managing the funds in such a manner which will ensure protected investments and stable returns. Such returns when compared will not be less than the rates of banks deposits and government risk free securities.-PR