Karachi: Al Meezan Investment Management Limited (Al Meezan) announced the launch of the Meezan Asset Allocation Plan-III (MAAP-III), under Meezan Financial Planning Fund, a Fund of Funds Scheme. It is a unique asset allocation plan for investors who wish to benefit from the equity market and want an actively managed investment portfolio with diversification. The plan has an initial term of two years and is now open for subscription.
Mohammad Shoaib, CFA, CEO of Al Meezan, while announcing the launch of the plan said “Meezan Asset Allocation Plan series has very been very well received by the investors with initial investments of Meezan Asset Allocation Plan I and II totaling approximately Rs. 2 Billion. MAAP-III is the third tranche in the series and is an ideal investment avenue for those who wish to take up to 100% exposure to equities. Al Meezan is currently managing assets of over PKR 13.2 Billion in Fund of Fund and capital preservation schemes.”
He further added that “The objective of the Plan is to earn a potentially high return through asset allocation between Shariah Compliant Equity Schemes and Shariah Compliant Income/Money Market Schemes. Our fund managers with their proven expertise will make best investment decision to optimize the returns for investors.”
Al Meezan managing investments since 1995, has one of the longest track records of 20 years in the private sector in Pakistan. With AM2+ Management Quality Rating, Al Meezan has the distinction of being the largest private sector Asset Management Company in Pakistan with total Assets Under Management (AUMs) of over Rs. 71.57 billion (as on December 31, 2015) in 12 different funds and an investor base of over 38,000 clients. Al Meezan also has to its credit Pakistan’s largest private sector Equity Fund i.e. Meezan Islamic Fund (MIF) and largest Voluntary Pension Fund i.e. Meezan Tahaffuz Pension Fund (MTPF), with AUMs of over Rs. 27.6 Billion and Rs. 5 Billion respectively (as on December 31, 2015).