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Meezan Paaidaar Munafa Plan(s)

Meezan Paaidaar Munafa Plan-II

Investment Objective

The “Meezan Paaidaar Munafa Plan-II “(MPMP-I)” is an allocation plan under “Meezan Fixed Term Fund” with an objective to provide investors with a competitive rate of return, for fixed tenure by investing primarily in Shariah Compliant TDRs and money market placements/ Instruments for a specific duration.

Investment Strategy

The allocation plans under this Fund shall primarily invest in Islamic government securities, cash in bank accounts, money market placements, deposits, certificate of deposits (COD), certificate of Musharakas (COM) and TDRs, as per their respective authorized investible avenues, and as approved by SECP & Shariah Advisor. The allocation plans under this Fund shall be subject to such exposure limits as are specified in the Rules, the Regulations and directives issued by SECP from time to time. The Scheme shall make investments in such a manner that the original amount of investment is protected at maturity/ Initial Maturity while having the potential to yield fixed rate/return.

Meezan Paaidaar Munafa Plan II will be the second Allocation Plan after Meezan Paaidaar Munafa Plan I.

Benefits at a Glance

  • Competitive Halal Returns (Investment in Shariah Compliant Islamic Instruments)
  • No Front-End Load
  • Very Low Risk Product; suitable for investors looking for short to medium term investment horizon
  • Professional Management of your savings by experienced fund managers with a proven track record
  • Easy Access through Mobile Application and Meezan Funds Online
  • Easy Online Investment and Redemption Facility available
  • Under the supervision of a reputable Shariah Advisor; Dr. Imran Ashraf Usmani

Fund Facts

Fund Type

Open End

Fund Category

Open End Islamic CIS

as per SECP’s Circular No.3 of 2022

Launch Date

11-Sep-22

Fund Size

2,555 Mn

as of November 30th , 2022

Benchmark

3 months

Three (3) months average deposit rates of three (3) AA rated scheduled Islamic Banks or Islamic Banking Windows as Selected by MUFAP at the time of plan launch

Minimum and Subsequent Investment

Rs. 500,000

& its multiples

Minimum Redemption Amount

Rs. 500,000

& its multiples

Risk Profile

Very Low

Unit Types

-

Management Fee

Up to 5%

of the gross earnings of the Scheme, calculated on a daily basis, subject to a minimum of 0.10% of the average daily net assets of the Scheme

Actual Rate of Management Fee

-

Contingent Load

-

In case of redemption before maturity date, contingent load shall be deducted from redemption amount subject to applicable expenses*

Trustee

CDC

Central Depository Company

Listing

PSX

Pakistan Stock Exchange

Fund Manager

Faizan Saleem

Asset Manager Rating

AM1

by VIS & PACRA
* Contingent load shall commensurate with net loss incurred due to early redemption

Authorized Investments

Authorized Investments Entity/Instruments Rating Maximum Exposure Minimum Exposure
A. Shariah Compliant GOP Issued/guaranteed Securities. N/A 100% 0%
B. Cash at Bank (excluding TDRs) with licensed Islamic Banks or Islamic Branches/Windows of Conventional Banks, Shariah Compliant Government Securities including GoP Ijarah Sukuk not exceeding 90 days maturity. AA 100% 0%
C. Shariah compliant placements with maturity not exceeding six (6) months, including but not limited to Bank deposits with licensed Islamic banks and/or Islamic branches/windows of Conventional banks & DFI’s. AA 100% 0%
D. Shariah compliant placements with maturity not exceeding six (6) months, including but not limited to placement of funds with Islamic Microfinance Banks, NBFC’s and Modarabas. AA 25% 0%
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Fund Performance

FY22* FY21 FY20 FY19 FY18 FY17 FY16 FY15
MPMP-II - - - - - - -
Benchmark - - - - - - -