IslamicFinance.de

Al Meezan Investments CEO Mohammad Shoaib announced the launch of the Meezan Asset Allocation Fund (MAAF), an open-end Shariah compliant asset allocation scheme. MAAF has an initial offering from April 18- 20, 2016 with no load and would be open for subscripion subsequently. MAAF aims to earn a potentially high return through asset allocation between Shariah compliant equity, fixed income and money market instruments. MAAF has an initial offering from April 18- 20, 2016 with no load and would be open for subscripion subsequently.

Meezan Bank had a huge influx of funds this year and Muhammad Asad, executive vice president and chief investment officer of Al Meezan Investment Management, stated that it is because of the Government of Pakistan's Sukuk program, which has enjoyed enormous local demand. He added that the sukuk enjoyed high levels of demand because it is tradable and offers competitive returns to the investors.
At this point Al Meezan is Pakistan's largest private sector asset management company.