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.