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Faysal Islamic Savings Growth Fund

Multiply your good deeds

Funds Overview

Faysal Islamic Savings Growth Fund an open end mutual fund, seeks to provide maximum possible preservation of capital and a reasonable rate of return via investing in Shariah Compliant money market and debt securities having good credit quality rating and liquidity.

Brief Terms of FISGF are presented below

Fund Type Open Ended
Category Islamic Income Scheme
Risk Profile Low
Stability Rating A+(f) (JCRVIS)
Launch Date June 14, 2010
Custodian/Trustee Central Depository Company of Pakistan (CDC)
Auditor Deloitte Yousuf Adil
Management Fee 10% of gross earnings (min 0.90% p.a. , max 1.50% p.a.) of average daily net assets
Front end Load Up to 2% of NAV
Back end Load Nil
Min Subscription PKR.5,000/-
Benchmark Six months average deposit rates of three A rated scheduled Islamic Banks or Islamic windows of conventional Banks
Pricing Mechanism Forward
AMC Rating AM3 (JCR-VIS)

Key Benefits

100% Shariah based Islamic Income Fund.
No minimum holding period of investment
Encashment without any penalty
Portfolio assets with good credit Quality, having minimum instrument rating of A-
Flexible Income Frequency option (refer to offering document)
Invest with as low as PKR 5,000/-
Salaried / Non-salaried Investors can avail tax credit on their investment under section 62 of Income Tax Ordinance 2001 – subject to holding of investment for 24 months from investment date
Exemption from Zakat on submission of Affidavit

FISGF Performance

Year Dividend Payout Fund's Annual Yield Benchmark's Annual Yield
FY 2009-10 0.35% 9.04% 7.70%
FY 2010-11 9.75% 10.33% 8.85%
FY 2011-12 10.35% 11.24% 8.7%
FY 2012-13 7.80% 8.28% 7.30%
FY 2013-14 7.42% 7.65% 6.92%
FY 2014-15 8.00% 8.22% 6.61%
FY 2015-16 5.50% 5.50% 4.68%
FY 2016-17 4.70% 5.30% 3.11%
FY 2017-18 4.31% 4.42% 2.44%

Investment Objective & Strategy

In line with its investment objectives, funds will be invested in Sukuks, Shariah Compliant Participation Term Certificates, Certificates of Investment, Bank Deposits, Placement of funds under Mudarabah, Murabaha and Musharikah, Istisna’a and Ijara arrangements and any other securities or instruments that may be permitted by the Commission and the Shariah Council.

Investment Committee

Mr. Khaldoon Bin Latif CEO
Mr. Ayub Khuhro CIO
Mr. Syed Shahid Iqbal SR. Fund Specialist - Fixed Income
Mr. Furqan Miriwala Head of Compliance & Internal Audit (Non-voting)
Mr.Mohammad Qasim Manager Risk

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