UBL launches Al-Ameen Islamic Plan

KARACHI: UBL Fund Managers Limited (UBL Funds) announced the launch of Al-Ameen Islamic Active Allocation Plan–VII, under the Al-Ameen Islamic Financial Planning Fund-II. This Plan is now open for subscription, a statement said on Friday.

The investment policy of Al-Ameen Islamic Active Allocation Plan-VII (AIActAP-VII) is approved by Shariah Advisers Mufti Muhammad Hassaan Kaleem and Mufti Muhammad Najeeb Khan, it added.  The plan actively allocates investments between Islamic equity and Islamic income / money market mutual funds, based on the fund manager’s outlook on these asset classes, with an aim at achieving potentially high returns, the statement said.  The plan has a term of two years and is ideal for investors who wish to benefit from the equity market and desire active management of their investment portfolios, it added.