NBP Riba Free Savings Fund (NRFSF) seeks to provide preservation of capital and earn a reasonable rate of return along with a high degree of liquidity by investing in short term Shariah Compliant Banks and Money Market/Debt securities.
NRFSF is an open ended shariah compliant income fund which aims to consistently generate a better return than the profit rates offered by standard Islamic saving options in the short to medium term. The fund invests in highly liquid, low-risk Shariah-compliant Money Market and Government securities. With no lock-in period, NRFSF is the perfect avenue to invest your savings and meeting your goals over short to medium term in a Shariah Compliant manner.
| Fund Facts | |
|---|---|
| Launch Date | August 20, 2010 |
| Category | Open Ended Shariah Compliant Income Fund |
| Risk Profile/Risk Erosion | Moderate/Principal at Moderate risk |
| Fund Size | Rs. 4,041 million as at 30th September 2021 |
| Dealing Time | Click here to view |
| Minimum Investment | Growth Units – Rs.10000/- Income Unit Rs.100,000/- |
| Management Fees | 6% of Net Income (min: 0.5% p.a., max: 1.25% average net assets during the month. p.a.) w.e.f 12-Jul-19. 0.53% p.a. of average net assets during the month. |
| Load | |
| Load with Life Insurance: Amount upto Rs.5 million: 3%, Amount over and above Rs.5 million and up to Rs.25 million: 1%, Amount exceeding Rs.25 million, load will be charged on Rs.5 million: 3% | |
| Load under Health Takaful Plan: Amount upto Rs. 4 million: 3%, Amount over and above Rs.4 million and up to Rs.25 million: 1%, Amount exceeding Rs.25 million, load will be charged on Rs. 4 million: 3% | |
| Others: 1% (Nil if greater than 25 million) | |
| Fund Stability Rating | A+ (f) by PACRA |
| Benchmark | 6-month average deposit rates of three A-rated Islamic banks/Islamic windows of conventional banks as selected by MUFAP. |
| Fund Manager | Salman Ahmed, CFA |
| Asset Management Rating | AM1 by PACRA (Very High Quality) |
* Benchmark return during September 2021 was 3.2% p.a. Since inception return from 20-Aug-10 till 30-Sep-21 was 8.0% p.a. vs. benchmark return of 5.5% p.a. Last one year return till 30-Sep-21 was 6.7% p.a vs benchmark return of 3.2% p.a. Returns for fiscal year 2021, 2020, 2019, 2018 and 2017 were 6.2% , 11.0% , 8.8% , 5.2% , 5.9% respectively vs benchmark returns of 3.6% , 6.3% , 3.7% , 2.4% , 3.1% .; Notes: 1) The calculation of performance does not include cost of front end load. 2) Taxes apply. Further, tax credit also available as per section 62 of the Income Tax Ordinance, 2001; Disclaimer: All investments in mutual funds are subject to market risks. Past performance is not necessarily indicative of future results.Please read the Offering Document to understand investment policies and the risks involved.
Offer Price: 10.6196 / Redemption: 10.5009