ABL Islamic Cash Fund is an open end Shariah Compliant Money Market Scheme aims to provide you Stable competitive returns and maximum capital preservation by investing in high quality short term Shariah Compliant instruments.
The Fund’s primary objective is to provide competitive returns by investing in low risk and highly liquid Shariah Compliant money market instruments.
*Investors are encouraged to consult their Investment advisor prior to investing in the product.
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| Scheme Name | ABL Islamic Cash Fund |
|---|---|
| Scheme type | Open End Shariah Compliant Money Market Scheme |
| Date of Inception | 13 February, 2020 |
| Fund Size | PKR 25,754 as at October 31st 2023 |
| Objective of the scheme | The objective of ABL Islamic Cash Fund (ABL-ICF) is to provide competitive returns by Investing in low risk and highly liquid Shariah Compliant money market instruments. |
| Benchmark | Three months average deposit rates of three (3) AA rated Islamic Banks or Islamic windows of Conventional Banks as selected by MUFAP. |
| Minimum Investment Amount | Initial Rs.1,000 (Subsequent Rs. 500) |
| Lock-In Period | None |
| Management Fee | 2% of gross earnings subject to a minimum 0.25% upto 0.75% of NA p.a |
| Entry Load | Upto 1% |
| Exit Load | None |
| Systematic Investment Plan Facility | Yes |
| FY 22 | FY 21 | FY 20 | |
|---|---|---|---|
| ABL Cash Islamic Fund Returns | 9.79% | 6.62% | 10.03% |
| Benchmark Returns | 3.67% | 3.42% | 5.19% |
