Shariah Compliant Money Market Scheme
Alhamra Islamic Money Market Fund (Formerly: MCB Pakistan Frequent Payout Fund)
WHAT IS Alhamra Islamic Money Market Fund (Formerly: MCB Pakistan Frequent Payout Fund)?
Alhamra Islamic Money Market Fund (Formerly: MCB Pakistan Frequent Payout Fund) is a Shariah Compliant Money Market Scheme which aims to provide investors with reasonable rate of return.
The Objective of the Fund is to provide a reasonable rate of return with a maximum possible capital preservation by investing primarily in liquid Shariah Compliant money market securities.
Alhamra Islamic Money Market Fund is an Open-ended Shariah Compliant Money Market Scheme which primarily invests in Shariah Compliant Authorized Investments. Alhamra Islamic Money Market Fund will make investments in line with its authorized investments. The Fund will be investing in a range of liquid Shariah compliant money market and Shariah compliant debt instruments.
Who should invest?
Investors with higher liquidiy needs are encouraged to invest in ALHIMMF.
*Note: MCB Pakistan Frequent Payout Fund (An Open-ended Asset Allocation Scheme) has been renamed as Alhamra Islamic Money Market Fund (An Openended Shariah Compliant Money Market Scheme) with effect from August 21, 2020 (Date of Conversion). In order to provide information to the Unit Holder fairly, this Fund Manager’s Report is prepared from the Date of Conversion.
||16th November 2015
Converted into Shariah Compliant Islamic Money Market Fund with effective from 21st August 2020
||An Open End Scheme
||Awais Abdul Sattar, CFA
|Asset Manager Rating
||AM1 (AM One) by PACRA (6-Oct-2020)
||Pakistan Stock Exchange
||Digital Custodian Company Limited (Formerly MCB Financial Services Limited)
||KPMG Taseer Hadi & Co. Chartered Accountants
||Three months average deposit rates of three (3) AA rated Islamic Banks or Islamic windows of Conventional Banks as selected by MUFAP.
Latest Expense ratio of the Fund is updated in the FMR (Fund Manager’s Report).