Allied Bank Mutual Fund ABL-ISF: A Great Profit Investment
ABL-ISF is an Allied Bank Islamic Stock Mutual Fund, which follows the KMI-30. KMI-30 is an Islamic index on the Pakistan Stock Exchange. This is the mutual fund created by Allied Bank Limited. If you don’t know about mutual funds, please see my post on Mutual Fund. Mutual funds can only be applied for by banks in Pakistan. and this fund is from Allied Bank Limited. In this post, we will discuss in detail the performance of this fund.
Investment Objective
Every Mutual Fund has its own objective that proceeds to make policies to achieve its objective. ABL-ISF objective is to provide capital appreciation to investors through higher, long term risk adjusted returns by investing in a diversified shariah compliant portfolio of equity instruments offering capital gains and dividends.
Profitablity
Below chart shows the profitalblity in last year
Basic Fund Information
| Fund Type | Open End |
|---|---|
| Categorey | Shariah Compliant Equity Scheme |
| Launch Date | June 12, 2013 |
| Net Asset | PKR 2,146 Mn at Sep 30, 2022 |
| NAV | 13.3057 as of 30 Sep 22 |
| BenchMark | KMI-30 |
| Dealing Days | As per PSX |
| Cutt off Time | 4:00 PM |
| Pricing Mechanism | Forward |
| Management Fee | 2% pa |
| Load | Upto 2% (Front End) |
| Trustee | Digital Custodian Company |
| Auditor | A.F. Ferguson & Co. Chartered Accountants |
| Asset Manager Rating | AM2++ |
| Risk Profile | High |
| Fund Manager | Amjad Hussain |
| Listing | Pakistan Stock Exchange |
| Total Expense Ratio | YTD (4.77%) MTD (4.88%) |
This Mutual fund follows KMI very closely and currently have grown 68% in last 8 years.
You can find complete report on this fund on sarmaya.pk
How to Apply for ABL-ISF
In order to apply in ABL-ISF, You need to have the Bank account of Allied Bank Limited. then you can visit the branh or download the Offering Documents here. Account form is availble at last page of offering Documents. You need following Documents in order to open the account
- INDIVIDUALS
- Copy of CNIC
- Know Your Customer (KYC) Form
- Copy of Zakat Affidavit (Only in case if “No” is selected in Zakat Deduction column)
- Tax Exemption Certificate (Only in case if “Yes” is selected in Tax Exemption Column)
- For Joint account holders of CNIC/Passport No. (for foreigners only)
- Copy of CNIC of Nominee (Optional)
- OTHERS/CORPORATES
- Copy of Incorporation/Registration Certificate
- Copy of Certificate for Commencement of Business
- Copy of Memorandum & Articles of Association / Trust Deed / Partnership Deed (as applicable)
- List of Authorized Signatory(ies) with specimen signatures
- Board Resolution (in case of Private/Public Limited Co.)
- Photocopies of CNIC of Directors/Trustees/Partners/Proprietors
- Any other Instructions (attached)
Principal account holder must sign in the space provided in form. The officer will not accept the form without the signature of the principal account holder.In case an investor cannot sign the form, he/she will have to visit our office/designated bank branch personally and submit one (1) recent passport size photograph which will have to be attested/verified by the Branch Manager/Customer Services Manager of the office/designated bank branch along with verification of thumb impression on the Account Opening Form. Every time the photo Account Holder wants to redeem his/her Investment, he/she will have to come personally to the office/designated bank branch and the redemption form will only be accepted when the thumb impression has been attested/verified by the office/ designated bank branch Manager/Customer Service Manager.
After completing the form the personal must visit the branch to open and activate his account.
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