Income/Money Market Funds
Meezan Islamic Income Fund’s object is to provide investors with a high and stable rate of current income consistent with long term preservation of capital in a Shariah Compliant way. A secondary objective is to take advantage of opportunities to realize capital appreciation.
The Fund shall keep an exposure in short-term instruments for the purpose of maintaining liquidity and to capitalize on exceptional returns if available at any given point in time. The portfolio shall be geared towards maximizing annual income to the extent consistent with preservation of capital. The portfolio shall comprise of short-term, medium-term and long-term investments.
| FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | |
|---|---|---|---|---|---|---|---|---|---|
| MIIF | 14.86% | 8.63% | 6.64% | 11.57% | 7.92% | 4.26% | 5.09% | 5.76% | 8.15% |
| Benchmark | 6.06% | 3.34% | 3.56% | 6.33% | 3.69% | 2.44% | 2.78% | 3.49% | 5.04% |
