Faysal Islamic Cash Fund
Fund Objective
The Objective of the Fund is to seek maximum possible preservation of capital and a reasonable rate of return via investing primarily in Shariah Compliant money market securities.
Brief Terms of FICF are presented below
| Fund Name | Faysal Islamic Cash Fund |
| Fund Type | Open Ended |
| Pricing Mechanism | Backward |
| Category | Shariah Compliant Money Market Scheme |
| Risk Profile | Low |
| Tenure | Perpetual |
| Management Fee | Management Company shall be entitled to anaccrued remuneration equal to an amount notexceeding 1% of Average Annual Net Assets, within allowed expense ratio limit. |
| Minimum Investment | PKR 5,000/ |
| Front end Load | Up to 2% |
| Back end Load(as Deferred Sale Load) | Up to 1% |
| Benchmark | Three (3) months average deposit rates of three(3) –AA rated Islamic Banks or Islamic windowsof Conventional Banks as selected by MUFAP. |
| Auditor | A.F Ferguson & Co, Chartered Accountant |
| Legal Advisor | Mohsin Tayebaly & Co. |
| Trustee | Central Depository Company of Pakistan Limited (CDC) |
| Back office Accounting Services | IT Minds Limited |
| NTN | 8268911-8 |
Key Benefits
Stable and Halal competitive returns.
Short term cash parking with high liquidity in a Shariah Compliant manner.
Professional management of your savings
Highly liquid investment over short-term period
No-lock-in period, withdraw investment at any point without any penalty
Frequently dividend units distributed into investor’s account
Easy online Redemption & Conversion facility available
Tax benefit as per section 62 of Income Tax Ordinance 2001
Frequently Asked Questions
What is Faysal Islamic Cash Fund?
The Objective of the Fund is to seek maximum possible preservation of capital and a reasonable rate of return via investing primarily in Shariah Compliant money market securities.
What is Fund strategy?
The Strategy of the Fund is to meet liquidity needs of investors by providing investors frequent payout (regular profits) through investments in high quality Shariah Compliant money market instruments.
Investment Committee
| Mr. Khaldoon Bin Latif | Chief Executive Officer |
| Mr. Ayub Khuhro | Chief Investment Officer |
| Mr. Faisal Ali Khan | Chief Financial Officer |
| Syed Shahid Iqbal | Head of Fixed Income |
| Mr. Mustajab Alam | Fund Manager |
| Mr. Umer Pervez | Director Research |
| Mr. Khurram Salman | Head of Compliance and Internal Audit |
| Mr. Imad Ansari | Head of Risk |
