Meezan’s Fund IPO from 5th to 7th July

Banking and Finance

Karachi: Initial Public Offering (IPO) of Meezan Capital Protected Fund-II is from July 5-7, 2011. Subscription of the fund would remain open till August 15, 2011 (six weeks period). It has been jointly launched by Meezan Bank and its subsidiary Al Meezan Investment Management Limited.

MCPF-II is open-end mutual fund with maturity period of three years and six weeks. Object is to provide investors protection of their capital. 100% protection of capital is available to an investor if he remains invested throughout tenor of Fund i.e. for 3 years and six weeks. Fund offers capital protection while also offering competitive returns through participation in equity market, a press release said Monday.

Chief Executive of Al Meezan, Mohammad Shoaib, CFA said, “With recent volatility in asset markets, foremost concern of all investors is safety of capital with acceptable return on their investment. Under such conditions, MCPF-II offers investors best solution of ensuring safety of capital and access to stock market returns.”

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