Karachi, June 27:Meezan Bank and its subsidiary Al Meezan Investment Management Limited (Al Meezan) launches Meezan Capital Protected Fund-II (MCPF-II), the only Shariah compliant Capital Protected Fund series-II 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 100% protection of their capital at maturity while offering them competitive returns through participation in the equity market.
The duration of the fund is 3 years and 6 weeks from the date of subscription. The units would be available at Al Meezan Offices and all branches of Meezan Bank Limited across Pakistan.
The 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 the stock market returns.”
He further said that MCPF-II will adhere to the Shariah guidelines laid by the Shariah Supervisory Board of Meezan Bank. The Bank has an internationally renowned, very high caliber and pro-active Shariah Supervisory Board presided over by Justice (Retd.) Mufti Muhammad Taqi Usmani, a renowned figure in the field of Shariah, particularly Islamic Finance.
Meezan Bank is the first and largest Islamic Bank in Pakistan with a branch network of over 222 branches in over 60 cities across Pakistan and offers a complete range of Islamic banking products and services including free online banking for all Pak Rupee accounts at all its branches. The Bank's retail banking network is supported by 24/7 banking services that include over 180 ATMs, Internet Banking and a 24-hour Call Center.
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.
Investment in MCPF-II can be made from any branch of Meezan Bank and Al Meezan. Investors can get more details about the product through toll free number 0800-42525 (HALAL) or by calling 111-331-331. You can also visit our websites www.meezanbank.com or www.almeezangroup.com for more information or SMS INVEST at’6655’ to facilitate you. The Offering Document and Trust Deed of the fund are available on our website.