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Overview

PIML Islamic Income Fund focus on providing investors with a steady stream of Shariah-Compliant income. The fund invest in short term and long term Shariah-Compliant debt instruments like Sukuks which are issued by corporations and government securities such as Ijarah Sukuk. PIML Islamic Income fund also maintains on monthly average at least 25% of its net assets in cash and/or near cash instruments to meet liquidity requirements.

Fund Objective

The investment objective of the Fund is to generate competitive risk adjusted returns by investing in short, medium and long-term Shariah Compliant fixed income instruments.

Past Performance


 

 

 

 

 

 

 

 

 

 

Fund Details

Fund TypeOpen End
CategoryIslamic Income Scheme
Inception Date4th March 2014
Pricing MechanismForward
Benchmark6 month average deposit rates of three (3) A rated scheduled Islamic Banks or Islamic windows of Conventional Banks as selected by MUFAP.
Management Co. RatingAM3+ by JCR-VIS (15 Dec 2016)
Fund Stability RatingA(f) by PACRA (14th July 2017)
Management Fee0.75%
Load2% (Front-end) 0% (Back-end)
Risk ProfileLow to Moderate Risk
ListingPakistan Stock Exchange
TrusteeCentral Depository Company
of Pakistan Ltd.
AuditorKPMG Taseer Hadi & Co.
Legal AdvisorMohsin Tayebaly & Co.
Fund ManagerKhawar Salman
Shariah AdvisorsAl-Hilal Shariah Advisors (Pvt.) Limited.
Shahriah ScholarMufti Irshad Ahmed Ijaz
Minimum InvestmentPKR. 100

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