PAKISTAN INTERNATIONAL ELEMENT ISLAMIC FUND
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The company is an open-end equity fund, which is Shariah compliant, and is able to invest in Pakistan capital markets as well as internationally markets. The bulk of the investment will be in the Pakistan capital markets, with the option of investing a sizeable portion (up to 30 percent) internationally or USD 15 million whichever is less. In addition, the following three types of units can be purchased: Type A Units have no redemption restrictions or back-end load and will be charged the normal front-end load (currently 4 percent); Type B Units have no redemption restrictions or front-end load (except for transaction cost) but will be charged a reducing back-end load for the first 3 years (3.0 percent reduced by 1.0 percent per year), and at the end of the 3 years of investment there is no back-end load at all; and Type C Units shall be issued with an initial investment of Rs. 10 million with Rs. 1 million thereafter.
The company was incorporated in 1900 and is headquartered in Karachi, Pakistan. The company’s internal operation is within the administration of its Directors, Mohammad Shafi Malik and Muhammad Kashif Habib.
The principal activity of the Fund is to make shariah compliant investments in securities.
Description and history
The principal activity of the Fund is to make shariah compliant investments in securities or instruments both inside and outside Pakistan. The Company is an open-ended mutual fund, listed on the Karachi, Lahore and Islamabad Stock Exchanges.
An open-end equity fund, which is Shariah compliant, and is able to invest in Pakistan capital markets as well as internationally markets
KPMG TASEER HADI & CO.
US SIC Code
2 / I, R.Y. 16, OLD QUEENS ROAD
City province or state postal code
Phone: +92 111-468-378
Fax: +92 2470351
Country address: PAKISTAN
Website url: www.arifhabib.com.pk