The objective of JSIIF is to generate stable returns and ensure capital preservation over medium to long term, by investing primarily in quality Sukuks, Shariah-compliant Government Securities, Shariah-compliant Bank Deposits and other Shariah-compliant debt instruments.
JSIIF is an open-end Shariah Compliant Income Fund, which provides fixed-income based returns, and potential for capital growth. The Fund offers enhanced returns exceeding Bank deposit rates over the medium-term, along with the flexibility to put in or take out your money at your convenience. JSIIF is an ideal solution for short/medium-term savings.
If you are looking for a low-risk Shariah Compliant investment with competitive and stable returns than JSIIF is a perfect option for you. Therefore, Income Fund are best suited for those investors who wish to avoid stock market volatility and instability.
|Term Sheet JS Islamic Income Fund (JSIIF)|
|Launch Date||05 June, 2013|
|Fund Type||Open end Shariah Compliant Income Fund|
|Minimum Investment||1 Unit|
|Asset Manager Rating||AM2+ by PACRA|
|Fund Stability Rating||AA-(f) by PACRA|
|Front End Load||1%|
|Management Fee||Up to 2% of Average Annual Net Assets|
|Listing||Pakistan Stock Exchange|
|Shariah Advisor||Al – Hilal Shariah Advisors|
|Trustee||Digital Custodian Company Limited|
|Auditor||A. F. Ferguson & Co.|
|Benchmark||Six (6) months average deposits rate of three (3) A rated scheduled Islamic banks or Islamic windows of conventional banks as selected by MUFAP|