Overview
AL Habib Islamic Cash Fund (AHICF) is an open-ended shariah compliant money market fund which invests in high quality and low risk shariah compliant debt securities with maximum maturity of six months; weighted average maturity of the portfolio is limited to not surpass 90 days. The major portion of investments are made in term of deposits with Islamic banks/Islamic window of commercial banks and Shariah Compliant Government Securities. Additionally, the fund invests in high quality instruments with issue/entity rating not below “AA”.
Investment Objective
AHICF objective is to maximize possible preservation of capital and provide a competitive rate of return via investing primarily in Shariah Compliant money market securities.
For Investor's Seeking
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Short term investment avenues
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Regular and stable shariah compliant source of income shielded from volatility of long-term fixed income instruments and stock market
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High liquidity (no lock-in period, investors can withdraw their investments during cut-off timings without any penalty)
Fund Details
| Basic Facts | |
|---|---|
| Launch Date | December 20, 2021 |
| Fund Type | Open-ended |
| Fund Category | Shariah Compliant Money Market Scheme |
| Fund Manager | Mr. Ahmed Abbas |
| Management Fee | 10% of the gross earnings of the scheme |
| Front-end-Load | 3% (Management has the discretion to reduce or waive load on any transaction) |
| Back-end-Load | Nil |
| Benchmark | 70% three (3) months PKRV rates + 30% three (3) months average deposit rate of three (3) AA rated scheduled banks |
| Dealing Days | Monday to Friday |
| Cut-off Timings | a) For Regular Transactions 09:00 am to 04:30 pm |
| Pricing Mechanism | Backward Pricing |
| Allocation of Units | On Realization of Funds |
| Minimum Subscription | Initial investment of Rs. 5,000/- (Subsequently Rs. 1,000/- per transaction) |
| Fund Stability Rating | AA+(f) by PACRA |
| Rating Date | August 30, 2024 |
| Risk Profile | Very Low (Principal at Very Low) |