Fund Short Name: AHISF Launched on November, 09 2012
This is an open-ended Shariah Compliant Equity Scheme. The objective of the Fund is to provide long term capital growth by investing in Shariah Compliant Stocks as approved by the Shariah Advisor.
Investment Avenues & Restrictions
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Shriah Compliant shares of Listed Companies, cash in Shriah Compliant bank accounts, and other Shriah Complaint money market instruments.
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Net assets upto 70% shall remain invested in listed equity securities at all the times.
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Per scrip limit ; 15% of Net Asset Value of the Fund
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Sector Limit 35% or index weight, whichever is higher, subject to maximum of 40%
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Rating of any bank and DFI with which funds are placed should not be lower than A-( A minus)
The scheme shall invest their assets only in Shariah Compliant securities both equity and non equity as authorized by the Shariah Advisor.
Initial & Subsequent Subscription
|
Fund Name |
Initial Subscription |
Subsequent |
|
AL Habib Islamic Stock Fund (AHISF) |
Rs. 5,000/- |
Rs. 1,000/- |