KASB Funds launches Islamic Income Fund

LAHORE: KASB Funds Limited (KFL) launched its first Shariah compliant fund. KASB Islamic Income Fund (KIIF). The IPO of the Fund commenced from May 30, 2008 and will end on June 7, 2008. During this period the Fund will be sold at par at a price of PKR 100.

"We are delighted to offer our first of the series Islamic investment products based strictly on Shariah compliant framework to our investors. We aim to continually expand the offering into further asset classes and investment styles, delivering a range of Islamic products with the same breadth and depth as our conventional mutual fund.

KIIF's primary objective is to provide Halal income, and is geared towards investors who are kicking to get a consistent stream of income from their surplus liquidity, whilst keeping risk al low levels. Initially, the range will be offered to retail and institutional investors in Pakistan with plans to expand the offering to the Middle East," said Naz, Khan, CEO KASB Funds.