NIT Islamic Income Fund (NIT-IIF) is an open-end Islamic Income Fund which invests in Shariah Compliant instruments. Ideally to cater the requirement of those investors, who wish to earn Riba free Halal returns. The objective of the Fund is to generate a stable Shariah compliant income stream, while seeking maximum possible preservation of capital, over the medium to long-term period, by investing in a diversified portfolio of Shariah Compliant fixed income and money market instruments
Shariah Advisor
Mufti Zeeshan Abdul Aziz is the Shariah Advisor for NIT IIF. He is a well recognized Shariah Scholar of industry and researcher having strong comprehension of all aspects of Islamic Law and Shariah. He has specialized in Islamic Jurisprudence majoring in Islamic Banking & Finance and is associated with several Islamic Financial Institutions as their Shariah Advisor, as on June 30th, 2024 NIT-IIF had fund under management of around Rs. 1.613 Billion.
Objective
The objective of NIT Islamic Income Fund is to generate a stable Shariah compliant income stream, over the medium to long term, by investing in a diversified portfolio of Shariah compliant fixed income and money market instruments.
Daily Price
Price Valid For 01 Oct 2024
NIT-IIF
Sale
10.0846
Repurchase
10.0846
Features of NIT-IIF
Competitive Riba-free Returns
Shariah compliant investments
Low Wakalah Fee (Management Fee)
Professional fund management expertise
Risk diversification
Risk Meter
Fund Facts
Fund Type
Open-End
Category
Shariah Compliant (Islamic) Income
Risk Profile
Medium
Fund Stability Rating
AA- (f) as of 09th March 2023
Minimum Investment
Initial Amount: PKR 1,000
Subsequent Amount: PKR 500
Par Value
Rs. 10/-
Transaction Charges
Front-End Load: NIL
Back-End Load: NIL
Management Fee
7.5% of Gross Earings of the fund , subject to a minimum
fee of 0.25% p.a. and maximum fee of 1% p.a. of Average
Annual Net Assets
Pricing Mechanism
Forward Day
Benchmark
Six (6) months average deposit rates of three (3)
A rated scheduled Islamic Banks or Islamic windows
of Conventional Banks as selected by MUFAP
