Overview
AL Habib Islamic Income Fund is an open-ended Shariah Compliant Income Fund which provide the investors with a rate of return consistent with a broadly diversified portfolio of long, medium, and short term, high quality Shariah Compliant fixed income instruments. Major portion of investments comprises of cash in Islamic banks or Islamic window of conventional banks, GoP Ijarah Sukuk, Islamic deposits, Sukuks etc. There is no lock-in period, investors can withdraw their investment during cut-off timings without any penalty.
Investment Objective
AHIIF is a Shariah Compliant income scheme, which aims to provide competitive risk adjusted returns to its investors by investing in diversified portfolio of long, medium, and short term shariah compliant instruments while taking into account liquidity considerations.
For Investors’ Seeking
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Shariah compliant medium to long term income and capital growth
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Avoid stock market volatility
Risk Profile
| Basic Facts | |
|---|---|
| Launch Date | January 23, 2017 |
| Fund Type | Open-ended |
| Fund Category | Shariah Compliant Income Scheme |
| Fund Manager | Mr. Ahmed Abbas |
| Shariah Advisor | Mufti Ismatullah |
| Management Fee | Up to 10% of the gross earnings of the scheme |
| Front-end-Load | 1.00% (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) Monday to Thursday 4:00 pm; Friday 4:30 pm b) Same Day Redemption Monday to Friday 9:30 am |
| Pricing Mechanism | Forward Pricing |
| Allocation of Units (NAV) | Form Based |
| 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 (Principal at Medium Risk) |