Al Meezan announces interim payout

KARACHI: Al Meezan Investment Management Limited announced the interim payout of Rs10,600 million for the unit holders of following Open End Funds / Plans for the year ended June 30, 2020, a statement said on Tuesday.

Mohammad Shoaib, CFA, CEO of Al Meezan Investment Management Limited (“Al Meezan”) under the authority delegated by the board of the company announced the interim payout, it added.

Al Meezan, the largest and only Shariah Compliant Fund Manager in Pakistan with the highest Assets under Management (AUMs) in the industry of over Rs150,000 million (as on June 30, 2020) has maintained AM1 rating (the highest management quality rating in Pakistan awarded by JCR-VIS and PACRA Credit Rating Companies).

It is presently managing 16 mutual funds, a voluntary pension scheme and several investment and administrative plans, it added.