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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.
|Launch Date||August 20, 2010|
|Category||Open Ended Shariah Compliant Income Fund|
|Risk Profile||Very Low|
|Fund Size||Rs 5,171 million as at 31st January 2020|
|Dealing Time|| Mon – Thr: 9:00 A.M to 5:00 P.M |
Friday: 9:00 A.M to 5:30 P.M
Saturday: 9:00 A.M to 1:00 P.M
|Minimum Investment|| Growth Units – Rs.10000/- |
Income Unit Rs.100,000/-
|Management Fees||7% of Net Income (min 0.5% p.a, max 1.25% p.a.)|
|Load|| Front End Load (Individual): without life Takaful 0.5%. With life Takaful 3% (Nil on investment above Rs. 26 million) |
Front End Load (Other): 0.5% (Nil on investment above Rs. 16 million)
Back End Load: NIL
|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||Muhammad Ali Bhabha, CFA, FRM|
|Asset Management Rating||AM1 by PACRA (Very High Quality)|
* Benchmark return during January 2020 was 6.8% p.a. Since inception return from 20-Aug-10 till 31-Jan-20 was 8.1% p.a. vs. benchmark return of 5.7% p.a. Last one year return till 31-Jan-20 was 11.5% p.a vs benchmark return of 5.6%p.a. Returns for fiscal year 2019, 2018, 2017, 2016 and 2015 were 8.8% , 5.2% , 5.9% , 5.5% , 7.4% respectively vs benchmark returns of 3.7% , 2.4% , 3.1% , 4.9% , 6.7% .; 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: 11.1949 / Redemption: 11.1320