ABL Asset Management is pleased to announce the launch of ABL Islamic Asset Allocation Fund (ABLIAAF), an open-end Shariah Compliant Asset Allocation Scheme. ABLIAAFprovides an ideal opportunity for investors to generate competitive returns through a mix of Shariah Compliant fixed income and equity investments. The fund is now open for subscription.
ABL Islamic Asset Allocation Fund will operate under the guidelines of Al-Hilal Shariah Advisors Private Limited. The Shariah Supervisory Counsel is headed by Mufti Irshad Ahmad Aijaz, who is a renowned Shariah Scholar and is also the Chairmanof SBP-Shariah Advisory Board. ABLIAAF will invest in Shariah Compliant Equity, Fixed Income, Money Market Instruments and any other instruments as permitted by the SECP and Shariah Advisor.
Mr. Alee Khalid Ghaznavi, CEO ABL Asset Management stated “ABL Funds endeavors to provide innovative investment solutions and quality services for its investors. With the launch of ABLIAAF,now we have further expanded thebreadth of our offerings includingIncome Funds, Money Market Funds, Stock Funds, Fund of Funds, Asset allocation schemes and Pension Funds in both Islamic and Conventional manner. He further added, “The Fundoffers the convenience to invest a diversified portfolio of Shariah Compliant equity and fixed income securities through a single schemefor optimal returns.”