ABL asset management launches ABL Islamic asset allocation fund
KARACHI: ABL Asset Management is pleased to announce the launch of ABL Islamic Asset Allocation Fund (ABLIAAF), an open-end Shariah Compliant Asset Allocation Scheme. ABLIAAF provides an ideal opportunity for investors to generate competitive returns through a mix of Shariah Compliant fixed income and equity investments. The fund is now open for subscription.
ABL Islamic Asset Allocation Fund will operate under the guidelines of Al-Hilal Shariah Advisors Private Limited. The Shariah Supervisory Counsel is headed by Mufti Irshad Ahmad Aijaz, who is a renowned Shariah Scholar and is also the Chairman of SBP-Shariah Advisory Board. ABLIAAF will invest in Shariah Compliant Equity, Fixed Income, Money Market Instruments and any other instruments as permitted by the SECP and Shariah Advisor.
Mr. Alee Khalid Ghaznavi, CEO ABL Asset Management stated “ABL Funds endeavors to provide innovative investment solutions and quality services for its investors. With the launch of ABLIAAF, now we have further expanded the breadth of our offerings including Income Funds, Money Market Funds, Stock Funds, Fund of Funds, Asset allocation schemes and Pension Funds in both Islamic and Conventional manner. He further added, “The Fund offers the convenience to invest a diversified portfolio of Shariah Compliant equity and fixed income securities through a single scheme for optimal returns.”
For the past 10 years, ABL Asset Management is serving the investment needs to thousands of investors. It is the wholly owned subsidiary of Allied Bank and has Management Quality Rating of AM2++ by JCR-VIS which donates very good Management Quality. It is the only AMC in Pakistan which is ISO 27001 certified. ABL Asset Management is presently managing eleven mutual funds and several administrative plans with total Assets under Management (AUMs) excluding Fund of Funds, of around Rs. 39.30 billion (as on April 30th, 2018).