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NBP Islamic Money Market Funds (NMMF) provides you competitive return with maximum possible capital preservation by investing in low risk and liquid Shariah Compliant authorized instruments.
NBP Islamic Money Market Fund (NIMMF) is an open-ended Shariah Compliant Money Market Fund which offers its investors attractive, regular & stable profits compared to other saving options. The Fund invests in short term, highly liquid and low-risk Shariah-compliant investment avenues with an intent to preserve your capital. The Fund has no lock-in period & you can invest your short-term savings/ income in this Fund.
|Launch Date||February 28, 2018|
|Category||Open End Shariah Compliant Money Market Fund|
|Fund Size||Rs. 3,551 million as at 31st October 2019|
|Dealing Time||(Mon-Thurs) 9:00AM to 5:00PM|
(Friday) 9:00AM to 5:30PM
(Saturday) 9:00AM to 1:00PM
|Risk Profile||Very Low|
|Management Fees||1% of Net Income (Min 0.1% p.a., Max 1.0% p.a.)|
|Load||Front End Load: 0.5%|
Back End Load: NIL
|Fund Stability Rating||“AA (f)” by PACRA|
|Benchmark||Three months average deposit rates of three (3) AA rated Islamic Banks or Islamic windows of Conventional Banks as selected by MUFAP.|
|Fund Manager||Muhammad Ali Bhabha, CFA, FRM|
|Minimum Subscription||Growth Unit: Rs.10000/-|
Income Unit: Rs.100,000/-
|Asset Management Rating||AM1 by PACRA (Very High Quality)|
* Benchmark return during October 2019 was 5.8% p.a. Since inception return from 28-Feb-18 till 31-Oct-19 was 8.4% p.a. vs. benchmark return of 3.6% p.a. Last one year return till 31-Oct-19 was 10.5% p.a vs benchmark return of 4.3%p.a. Return for fiscal year 2019 was 8.1% vs benchmark return of 3.4% .; 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: 10.811 / Redemption: 10.7503