KASB Funds Limited is set to launch the KASB Capital Protected Gold Fund, the first fund in Pakistan with exposure to gold.
"This is yet another milestone for Pakistan's Mutual Fund industry and we are thrilled to be a pioneer in offering this investment opportunity to investors and particularly, to the retail investors", said Naz Khan, CEO KASB Funds (KFL) at a recent signing ceremony between KFL and Standard Chartered Bank (Pakistan) Limited (SCBPL) for distribution of the fund through the SCBPL network pan Pakistan.
Naz Khan presented a golden key to Shahid Qazi, head of Wealth Management, SCBPL, as a symbol to recognise their joint effort in unlocking the potential for innovative alternative investment opportunities for the Pakistani investor.
Elaborating further, she said "Gold as an asset class is a potentially powerful tool in an investment portfolio as it may provide protection against inflation and currency depreciation, while adding diversification to the portfolio".
Commenting on the Fund, Aalishaan Zaidi, head of Consumer Banking, SCBPL, said "KASB Gold Fund gives SCBPL customers an opportunity to invest in Gold while enjoying protection of their invested capital. This will further add a unique product to already robust Wealth Management solutions of SCBPL."
KASB Capital Protected Gold fund is a 2-year fund, which offers capital protection through placing a significant portion in deposits with scheduled commercial banks having a minimum 'AA-'rating. The remaining portion will be invested in gold through National Commodity of Exchange (NCEL). KASB Funds Ltd is rated AM3+ by JCR-VIS and in addition to this new offering, also manages 5 other funds in various categories.-PR