The objective of the fund is to provide investors competitive returns through investment in Shariah Compliant money market instruments.
JS Islamic Money Market Fund (JSIMMF) is an Open-ended Shariah Compliant Money Market Scheme which primarily invests in Shariah Compliant Authorized Investments.
If you are looking for a Shariah Compliant secure and stable returns, with low risk, and flexibility to access your money at anytime, then JSIMMF is an ideal option for you.
| Term Sheet JS Islamic Money Market Fund (JSIMMF) | |
|---|---|
| Launch Date | 03 September, 2020 |
| Fund Type | Open End Shariah Complaint Money Market Scheme |
| Currency | PKR |
| Minimum Investment | 500 |
| Asset Manager Rating | AM1 by PACRA |
| Fund Stability Rating | AA(f) by PACRA |
| Pricing Mechanism | Backward |
| Front End Load | 1% |
| Management Fee | Up to 1.25% of Average Annual Net Assets |
| Risk Profile | Low |
| Shariah Advisor | Al-Hilal Shariah Advisors |
| Trustee | Digital Custodian Company Limited |
| Auditor | A. F. Ferguson & Co. |
| Benchmark | 90% three (3) months PKRV rates + 10% three (3) 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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