TRUST DEED SIGNING CEREMONY OF NEW ISLAMIC FUNDS OF FAYSAL ASSET MANAGEMENT LIMITED (FAML)
Karachi, Wednesday, April 22, 2009: In line with their growth and expansion strategy, Faysal Asset Management Limited (FAML) is in the process of adding 2 new Islamic, Shariah Compliant funds to their existing portfolio. In this regard, a Trust Deed signing ceremony was organized at FAML head office. Present on the occasion were the Representatives from CDC, trustee of the two up-coming Islamic Funds, and the Senior Management of FAML.
The new funds are Faysal Islamic Savings Growth Fund (FISGF) and Faysal Islamic Balanced Growth Fund (FIBGF). The two new Islamic products added to our portfolio are Shariah-Compliant predecessors of the existing products, Faysal Savings Growth Fund (FSGF) and Faysal Balanced Growth Fund (FBGF) respectively, which have proven their performance over time” said Mr. Salman Haider Sheikh, CEO of FAML.
He further added that following the trailblazing success and award-winning performance of FSGF, this new unique opportunity, in the form of FISGF is being added to our product offer; the chance to invest in the same distinctive investment style of FSGF, but with a Shariah-conscious portfolio. He also emphasized that with the worldwide equity markets recovering from a knockout, now is the perfect time to invest in the stock market. FIBGF launch is strategically planned at this time in order to gain the maximum from this situation. FBGF, the predecessor of FIBGF, has been providing its unit-holders with an ideal balance of the safety of fixed income and growth of equities and now Faysal Asset Management has designed a similar product package for Shariah-conscious investors as well to cater to a larger market set.
FAML, an asset management company, was launched in 2003 within Ithmaar Bank (Bahrain) Group of Companies. FAML brings together the collective financial expertise and investment experience of Islamic Investment Company of Gulf (IICG), with its extensive global fund management experience, Faysal Bank Limited, one of Pakistan's premier commercial bank.