HBL launches al-ameen Islamic financial plan

HBL launches al-ameen Islamic financial plan

ISLAMABAD (APP): Habib Bank Fund Managers Limited announced the launch of al-ameen Islamic active allocation plan- VIII, under the al-ameen Islamic financial planning fund-II.

This plan is now open for subscription as it was approved by Shariah advisors Mufti Muhammad Hassaan Kaleem and Mufti Muhammad Najeeb Khan, a press release issued here on Wednesday said.

The plan actively allocates investments between Islamic equity and Islamic income and money market mutual funds, based on the Investment Committee's outlook on these asset classes, with an aim to achieve potentially high returns.

The plan has a term of two years and is ideal for investors who wish to benefit from the equity market and desire active management of their investment portfolios.

Chief Executive Officer, UBL Funds, Yasir Qadri said al-ameen Islamic active allocation plan series has been well received by investors.

Al-ameen Islamic active allocation plan-VIII was the eighth tranche in the series and is an ideal investment avenue for those who wish to take up a potentially high equity exposure.

"With the rapid development of China-Pakistan Economic Corridor (CPEC) and interest of foreign investors in Pakistan, the local financial market has shown quite a positive performance", headded.

Right now it is the ideal time for investors to invest especially for a longer period of time, he added.

Al-ameen Islamic active allocation plan will smartly invest and disinvest between Islamic equities and Islamic income or money Market based mutual funds, based on Investment Committee's research- backed outlook on asset classes, he added.