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Al Meezan Investment Management Limited (Al Meezan), the asset management and investment advisory arm of Meezan Bank, specializes exclusively in the development and management of Shariah compliant investment products. Al Meezan has one of the longest and the most successful track record of managing mutual funds in the private sector, spanning over fifteen years.
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Al Meezan is presently managing the following funds:
- Meezan Islamic Fund (MIF) - open end equity fund
- Meezan Islamic Income Fund (MIIF) - open end income fund
- Meezan Cash Fund (MCF) - open end money market fund
- Meezan Sovereign Fund (MSF) - open end government securities fund
- Meezan Capital Protected Fund-I (MCPF-I) open end capital protected fund
- Meezan Tahaffuz Pension Fund (MTPF)- Voluntary Pension Scheme
- Al Meezan Mutual Fund Limited (AMMF)- closed end equity fund
- Meezan Balanced Fund (MBF)- closed end balanced scheme
The total size of the funds under management as at June 30, 2010 was over PKR 18 billion as compared to PKR 13 billion at the corresponding date last year. The increasing size of assets under management manifests the ability of the professional fund management team to consistently out-perform its peers and consequently build the investor confidence. The fund wise performance details as at June 30, 2010 is as under:
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Net Assets
PKR (Millions)
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Rating
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Return
FY - 10
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| Meezan Cash Fund |
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| Meezan Islamic Fund |
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| Meezan Islamic Income Fund |
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| Meezan Sovereign Fund |
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| Meezan Capital Protected Fund-I |
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| Al Meezan Mutual Fund |
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| Meezan Balanced Fund |
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| Meezan Tahaffuz Pension Fund |
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Al Meezan is ranked among the best performing asset management companies in Pakistan. It has achieved Management Quality Rating “AM2”, assigned by JCR-VIS. AM2 is currently the Highest Management Quality Rating to any Asset Management Company in the mutual funds industry. This rating denotes high management quality with a stable outlook. For the year 2009, Eurekahedge - world's largest independent data provider and research house has ranked Meezan Islamic Fund (MIF)- Pakistan’s largest equity fund in the private sector and Al Meezan Mutual Fund (AMMF) among the Top 10 Islamic Funds by returns for the year 2009. MIF was ranked 4th for the year 2009 while AMMF was ranked 6th among the Top 10 performing funds. The statistics have been calculated by Eurekahedge using funds’ return since inception.
The Shariah Advisor of Meezan Bank Limited, also being the Shariah Advisor of Al Meezan, supervises the operations in order to ensure Shariah compliance of the funds. In addition to the quality service, Shariah compliance and impressive performance in terms of returns to investors, Al Meezan also complies with the global best practices in asset management and has voluntarily adopted “Asset Manager Code of Professional Conduct” from CFA Institute, USA. Hence it has the distinction of being the first asset management company in Pakistan to comply with the best global practices in asset management.
Units of all open end funds are available at the offices of Al Meezan and all branches of Meezan Bank across Pakistan. For the convenience of investors, Al Meezan has placed dedicated investment officers at the selected branches of MBL. These officers provide guidance and assist the investors in meeting their investment objectives.
For further details please visit http://www.almeezangroup.com/ or call us at 0800-HALAL (0800-42525).