NBP Islamic Savings Fund aims to earn a reasonable rate of return in a Shariah Compliant manner by investing in Shariah Compliant Debt securities, Money Market instruments and Bank Deposits.
NBP Islamic Savings Fund (NBP-ISF) is an open-ended Shariah Compliant income fund in which you earn halal munafa over your idle cash saving. The fund offers attractive profits compared to other saving avenues and has no lock in period – you can withdraw your savings whenever you want without penalty or any profit reduction. Your savings in this fund are invested in Money Market instruments, Bank Deposits and Debt securities, as per guidelines approved by our Shariah Supervisory Board.
This makes NBP-ISF a perfect saving solution for your short-term savings, allowing you to earn Halal Munafa with immediate access to your savings.
| Fund Facts | |
|---|---|
| Launch Date | October 26, 2007 |
| Category | Open End – Shariah Complaint Income Fund |
| Risk Profile | Low to Medium |
| Fund Size | Rs. 3,468 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 |
| Minimum Investment | Growth units – Rs.10000/- Income units -Rs.100,000/- |
| Management Fees | 6% of Net Income (min: 0.5% p.a., max: 1.0% p.a.) |
| Load | Front End Load (Individual): 1% without life Takaful, 3% with life Takaful. (Nil on investment above Rs. 26 million) Front End Load (Other): 1% (Nil on investment above Rs. 16 million) Back End load: Nil |
| Fund Stability Rating | “A-(f)” by PACRA |
| Benchmark | 6-Month average deposit rate 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 26-Oct-07 till 31-Jan-20 was 7.0% p.a. vs. benchmark return of 5.7% p.a. Last one year return till 31-Jan-20 was 11.4% p.a vs benchmark return of 5.6%p.a. Returns for fiscal year 2019, 2018, 2017, 2016 and 2015 were 8.5% , 5.1% , 5.4% , 7.4% , 9.2% respectively vs benchmark returns of 3.7% , 2.4% , 3.9% , 4.8% , 6.6% .; 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. The scheme holds certain non-compliant investments. Before making any investment decision, investors should review the latest monthly Fund Manager Report and Financial Statements. The reported returns may include provisioning and reversal of provisioning against some debt securities.
Offer Price: 10.3873 / Redemption: 10.2712
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