United Bank Limited announces UCPF-I Fund Maturity

LAHORE: UBL Fund Managers a wholly owned subsidiary of United Bank Limited (UBL) announced the maturity of its first closed-end mutual fund investment scheme UBL Capital Protected Fund I (UCPF-I) after successfully completing its 3 year tenure.

The scheme was launched in 2008 to provide investors with an opportunity to participate and benefit from the growth potential offered by the Pakistani stock market while ensuring protection of their principal amount.

Despite the stock market crash in 2008, the scheme has managed to provide investors with an absolute return of 21.40% for the 3 year period on net asset value basis. During the same time period, the KSE-30 Index is down by 38.96%. The scheme not only provided security of investors’ capital but also provided a decent return despite encountering one of the largest set-backs in Pakistani stock market.

UBL Fund Managers, the management company of the scheme has completed the liquidation process and is in the final stages of sending the liquidation proceeds to the respective Certificate Holders. UBL Fund Managers is amongst the leading asset management companies in Pakistan and is currently managing assets exceeding Rs. 24 billion. The company enjoys a “High Management Quality Rating of AM2 assigned by JCR-VIS Credit Rating Company.

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