Overview
AL Habib Islamic Savings Fund (AHISAV) is an open-ended shariah compliant income fund which provides unit-holders superior risk adjusted long term return consistent with a broadly diversified portfolio of long, medium, and short term, high quality Shariah Compliant fixed income instruments. Weighted Average Maturity shall not exceed 4 years. Major portion of investments comprises of term of deposit in Islamic banks or Islamic window of conventional banks, GoP Ijarah Sukuk, Islamic deposits, Sukuks etc. Rating of any security in the portfolio shall not be lower than "A". There is no lock-in period, unit-holders can redeem their investments during cut-off timings without any penalty.
Investment Objective
AHISAVF’s objective is to provide competitive risk adjusted returns to its investors by investing in a diversified portfolio of long, medium and short term shariah compliant debt instruments while taking into account liquidity considerations.
For Investor's Seeking
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Shariah compliant medium to long term income and capital growth
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Avoid stock market volatility
Fund Details
| Basic Facts | |
|---|---|
| Launch Date | December 20, 2021 |
| Fund Type | Open-ended |
| Fund Category | Shariah Compliant Income Scheme |
| Fund Manager | Mr. Ahmed Abbas |
| Management Fee | Up to 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 | Average of six months profit rate of 3 scheduled Islamic banks / Islamic windows of conventional banks having long term rating of ‘A ‘or higher |
| 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 | Medium (Principle at Medium Risk) |