BMA Funds signed the Trust Deed for their soon to be launched "BMA Empress Cash Fund" (BECF) at a ceremony held at BMA Funds headquarters in Karachi.
The trust deed of the BMA Empress Cash Fund (BECF) between BMA Asset Management Company Ltd (BMA Funds) and Muslim Commercial Financial Services (Pvt) Limited (MCFSL) was signed by Aamir Iqbal, Chief Financial Officer, BMA Funds, Adeel Ahmad Khan, SVP, BMA Funds, and by Khawaja Anwer Hussain, Acting CEO, MCFSL, and Faisal Amin, AVP, MCFSL.
The BECF is structured to provide a competitive level of income that is commensurate with enhanced liquidity and credit profile through investment primarily in short term deposits and money market instruments with an overall rupee-weighted average maturity of not more than 90 days.
In a released statement, Muddassar Malik, CEO of BMA Funds stated: "BMA continuously strives to satisfy the evolving requirements of our valued individual and institutional investors through the launch of innovative products which meet specific needs and fill gaps in the market. The BECF is just such a product which addresses the high value investors are currently placing on keeping their assets in liquid instruments. BMA Funds plans to launch additional innovative products this year including the BMA Capital Protected Fund (BCPF) and the BMA GEMS Fund as well."
BMA Funds, a group company of BMA Capital, was launched with the objective of providing investment management and advisory services. BMA Funds is actively engaged in the floating and managing of open and closed end funds and is amongst a handful of firms with a time-tested track record of managing investments in the capital markets of Pakistan.-PR