Meezan Bank and its subsidiary Al Meezan Investment Management Limited (Al Meezan) have announced the launch of Meezan Capital Protected Fund-II (MCPF-II), the only Shariah-compliant Capital Protected Fund of Pakistan. The Initial Public Offering (IPO) of Meezan Capital Protected Fund-II is from July 5 – 7, 2011. The subscription of the fund would remain open till August 15, 2011 (six weeks period).
MCPF-II is an open-end mutual fund with a maturity period of three years and six weeks. The objective of MCPF-II fund is to provide investors protection of their capital. 100% protection of capital is available to an investor if he remains invested throughout the tenor of the Fund i.e. for 3 years and six weeks. The Fund therefore offers capital protection while also offering competitive returns through participation in the equity market.
Chief Executive of Al Meezan, Mohammad Shoaib, CFA, commented, “With the recent volatility in the asset markets, the foremost concern of all investors is safety of capital with an acceptable return on their investment. Under such conditions, MCPF-II offers investors the best solution of ensuring safety of capital and access to stock market returns.”
Al Meezan has been in operation since 1995 and has one of the longest track record of managing mutual funds in the private sector in Pakistan. Al Meezan Investment is the largest private sector asset management company in Pakistan with assets under management of over Rs.29 billion on behalf of retail and institutional clients and enjoys “AM2” rating denoting ‘High Quality Management’ by JCR- VIS Rating Company.