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 | A.F.Ferguson & Co. |
| Management Fee | Management Company shall be entitled to an accrued remuneration equal to an amount not exceeding 1% of Average Annual Net Assets, within allowed expense ratio limit. Management shall disclose actual rate of management fee charged as percentage of net assets of collective investment scheme in monthly Fund Manager Report. |
| 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 | AM2 (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 | Chief Executive Officer |
| Mr. Ayub Khuhro | Chief Investment Officer |
| Mr. Faisal Ali Khan | CFO and Company Secretary |
| Mr. Syed Shahid Iqbal | Sr. Fund Specialist - Fixed Income |
| Mr. Muhammad Akbar Latif Khan | Head of Research |
| Mr. Khurram Salman | Head of Compliance and Internal Audit |
| Mr. Mohammad Qasim | Head of Risk Management |
