AWT Islamic Income Fund
Overview
AWT Islamic Income Fund focus on providing investors with a steady stream of Shariah-Compliant income. The fund invest in short term and long term Shariah-Compliant debt instruments like Sukuks which are issued by corporations and government securities such as Ijarah Sukuk. AWT Islamic Income fund also maintains on monthly average at least 25% of its net assets in cash and/or near cash instruments to meet liquidity requirements.
Fund Objective
The investment objective of the Fund is to generate competitive risk adjusted returns by investing in short, medium and long-term Shariah Compliant fixed income instruments
| Fund Details | |
| Fund Type | Open End |
| Category | Islamic Income Scheme |
| Inception Date | 4th March 2014 |
| Pricing Mechanism | Forward |
| Benchmark | 6 month average deposit rates of three (3) A rated scheduled Islamic Banks or Islamic windows of Conventional Banks as selected by MUFAP. |
| Management Co. Rating | AM3++ by PACRA (5th Aug 2022) |
| Fund Stability Rating | A+(f) by PACRA (13-Oct-22) |
| Management Fee | 0.75% |
| Load | 2% (Front-end) 0% (Back-end) |
| Risk Profile | Low |
| Listing | Pakistan Stock Exchange |
| Trustee | Central Depository Company of Pakistan |
| Auditor | Yousaf Adil (Chartered Accountant) |
| Legal Advisor | Rizwan Faiz Associates. |
| Fund Manager | Wahaj Ahmed |
| Shariah Advisors | Mufti Abdul Zahid Farooqi |
| Minimum Investment | PKR. 1000 |
