The Objective of the Fund is to meet liquidity needs of the investors by providing daily dividend through investment in Shariah Compliant money market instruments.
JS Islamic Daily Dividend Fund (JSIDDF) is an Open-ended Shariah Compliant Money Market Scheme which primarily invests in Shariah Compliant Authorized Investments. The Fund will make daily payout to the unit holders, which will be re-invested, net of applicable taxes / fees / charges.
If you are looking for a Shariah Compliant secure and stable returns, with very low risk, and flexibility to access your money at any time, then JSIDDF is an ideal option for you.
|Term Sheet JS Islamic Daily Dividend Fund (JSIDDF)|
|Launch Date||03 September, 2020|
|Fund Type||Open End Shariah Complaint Money Market Scheme|
|Asset Manager Rating||AM2+ by PACRA|
|Fund Stability Rating||AA(f) by PACRA|
|Front End Load||1%|
|Management Fee||Up to 1% of Average Annual Net Assets|
|Shariah Advisor||Al-Hilal Shariah Advisors|
|Trustee||Digital Custodian Company Limited|
|Auditor||A. F. Ferguson & Co.|
|Benchmark||Three (3) months average deposits rates of three (3) AA rated Islamic Banks or Islamic windows of conventional Banks as selected by MUFAP|