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PIML Daily Reserve Fund is an open ended money market fund with the primary objective to maintain high liquidity by investing in low risk short term instruments. Returns generated by PIML Daily Reserve Fund are likely to fluctuate much less as compared to other categories of mutual funds. This fund is ideal for new investors as it is least complicated to follow and understand and provides safer investment.

Fund Objective

The objective of PIML-Daily Reserve Fund (PIML-DRF), an Open-End money market fund, is saving optimization and creating awareness in the future, by providing them with competitive returns that constitutes low risk, and to maximize current income consistent with preservation of capital and liquidity.

Past Performance











Fund Details

Fund TypeOpen End
CategoryMoney Market
Inception Date1st January 2013
Pricing MechanismForward
Benchmark70% average of 3 Month PKRV rate +30 % 3-Month average deposit rate of three scheduled banks rated AA as selected by MUFAP
Management Co. RatingAM3+ by JCR-VIS (15 Dec 2016)
Fund Stability RatingAA(f) by PACRA (14th July 2017)
Management Fee0.75%
Load0% (Front-end) 0% (Back-end)
Risk ProfileLow Risk
ListingPakistan Stock Exchange
TrusteeCentral Depository Company of
Pakistan Ltd.
AuditorKPMG Taseer Hadi & Co
Legal AdvisorMohsin Tayebaly & Co
Fund ManagerKhawar Salman
Minimum InvestmentPKR. 100


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