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 Medium-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 |
| Currency | PKR |
| Minimum Investment | 1 Unit |
| Asset Manager Rating | AM1 by PACRA |
| Fund Stability Rating | AA-(f) by PACRA |
| Pricing Mechanism | Forward |
| Front End Load | 1% |
| Management Fee | Up to 1.50% of Average Annual Net Assets |
| Risk Profile | Medium |
| Listing | Pakistan Stock Exchange |
| Shariah Advisor | Al – Hilal Shariah Advisors |
| Trustee | Digital Custodian Company Limited |
| Auditor | A. F. Ferguson & Co. |
| Benchmark | 75% six (6) months KIBOR + 25% six (6) months average of the highest rates on savings account of three (3) AA rated scheduled Islamic Banks or Islamic Windows of Conventional Banks as selected by MUFAP. |
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