The investment objective of the Meezan Daily Income Fund is to earn potentially high returns through investment as per respective Allocation Plans by investing in Shariah Compliant Fixed Income instruments.
Investment Strategy
The allocation plans under this fund shall primarily invest in Islamic Fixed Income instruments as per their respective authorized investible avenues, and as approved by the 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.
Key Benefits
Attractive Halal returns as compared to other investment avenues
No Front-End Load
Over 29 years track record of managing your investments
Fund Facts
Fund Type
Open End
Fund Category
Income
Launch Date
26th Apr, 2024
Fund Size
7.80 Bn
as on October 31st, 2024
Benchmark
6 Months
average deposit rate of three (3) A rated scheduled Islamic Banks or Islamic windows of conventional banks as selected by MUFAP.
Risk Profile
Moderate
Unit Types
B
Management Fee
The Plan shall charge a Management
Fee of up to 1% per annum
Actual Rate of Management Fee
0.80%
Front End Load
Nil
Bank End Load
Nil
Trustee
CDC
Central Depository Company Pakistan Limited
Listing
PSX
Pakistan Stock Exchange
Fund Manager
Faizan Saleem
Asset Manager Rating
AM1
by VIS & PACRA
Minimum Investment Amount
Rs. 200,000 & its multiples
Fund Performance
FY24*
FY23
FY22
FY21
FY20
FY19
FY18
FY17
FY16
MSSP
18.86%
-
-
-
-
-
-
-
-
Benchmark
11.04%
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-
-
-
-
-
-
-
* 65 Days of Operations
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