ABL launches Islamic Allocation Fund

KARACHI: ABL Asset Management has launched the ABL Islamic Asset Allocation Fund (ABLIAAF), an open-end Shariah-compliant asset allocation scheme. ABLIAAF provides opportunity for investors to generate competitive returns through a mix of Shariah-compliant fixed income and equity investments.

The fund is open for subscription. It will operate under the guidelines of Al-Hilal Shariah Advisers Private Limited. ABLIAAF will invest in Shariah-compliant equity, fixed income, money market instruments and any other instruments as permitted by the SECP and Shariah advisers. ABL Asset Management CEO Alee Khalid Ghaznavi said, “With the launch of ABLIAAF, we have now 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.”

Published in The Express Tribune, June 5^th, 2018.

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