Trust Deed of KASB Cash Fund was signed between KASB Funds Limited and Muslim Commercial Financial Services (Private) Limited (MCFSL). KASB Funds Limited prides itself in its management style and its steady performance over the years in spite of tough market conditions. To attend to these volatile markets, KASB Funds is now coming out with KASB Cash Fund.
The Fund has a well thought out investment objective and is meticulously planned that caters to a broader investor base. Essentially, the fund maintains a high degree of liquidity, with weighted average time to maturity of net assets not exceeding 90 days. KASB Cash Fund will be an open-ended fund allowing investors flexibility in their investment and full or partial redemption at any point in time. The IPO of the Fund is expected to take place in the 1st week of July 2009.
With the launch of KASB Cash Fund, the company now provides a wide variety of products, including a stock market fund, an income fund, Islamic income fund, a balanced fund and now a money market fund. Amongst its current funds under management, KASB Funds manages PKR 5 billion in assets.-PR