IslamicFinance.de

ABL Asset Management has launched the ABL Islamic Asset Allocation Fund (ABLIAAF), an open-end Shariah Compliant Asset Allocation Scheme. The fund is now open for subscription. ABL Islamic Asset Allocation Fund will operate under the guidelines of Al-Hilal Shariah Advisors Private Limited. The Shariah Supervisory Counsel is headed by Mufti Irshad Ahmad Aijaz, who is a renowned Shariah Scholar. ABLIAAF will invest in Shariah Compliant Equity, Fixed Income, Money Market Instruments and other permitted instruments. ABL Asset Management CEO Alee Khalid Ghaznavi said with this launch the company further expanded its offerings including Income Funds, Money Market Funds, Stock Funds, Fund of Funds, Asset allocation schemes and Pension Funds in both Islamic and Conventional manner.

Pakistani ABL Asset Management has announced the establishment of an Islamic equity fund. The fund is expected to tap the growing market of investors who want to make their investments in stocks of Shariah-compliant companies only. In contrast with the current offer of the company - the Islamic Income Fund - the new Islamic equity fund will entail higher levels of risk and return. The date of release is not known yet but according to the company's CEO Farid Ahmed Khan, it will be rather soon.