KASB Islamic Income fund
KASB Islamic Income Fund (KIIF) is an income fund purely based on Shariah principles with no direct exposure to the stock market. For consistent income and liquidity, KIIF keeps exposure in short term instruments, while a medium to long term exposure is maintained to add growth to the portfolio.
Investment Objective
KIIF’s primary objective is to provide investors with Halal and regular income, by investing in Shariah compliant income products.
Summarised Term Sheet
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Date of Inception
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June 7, 2008
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Type
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Open-ended Islamic income fund
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Minimum Initial Investment
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Growth Units, PKR 10,000/-
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Payout Units, PKR 100,000/-
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Front-end load
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1.00%
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Back-end load
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NIL
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Shariah Advisor
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Meezan Bank Limited
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No minimum holding period
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Any time redemption as and when requested by investor
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Tax Credit
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Under current Government Regulations on investment of upto PKR 300,000/-
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Listing
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Karachi Stock Exchange
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