NIT Islamic Money Market Fund (NIT-IMMF) is an Open-ended Shariah Compliant Money Market Scheme which primarily invests in Shariah Compliant Authorized Investments.
Shariah Advisor
Mufti Zeeshan Abdul Aziz is the Shariah Advisor for NIT IMMF. 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.
Objective
The objective of NIT Islamic Money Market Fund (NIT IMMF) is to provide competitive return by primarily investing in low risk and highly liquid Shariah Complaint Money Market & Debt Instruments and will serve the investors who prefer exposure in low risk, short term, highly liquid shariah compliant investment avenues.
Daily Price
Price Valid For 01 Oct 2024
NIT-IMMF
Sale
106.6231
Repurchase
105.5674
Features of NIT-IMMF
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 Money Market
Risk Profile
Low
Fund Stability Rating
AAA (f) as of 29th December 2022
Minimum Investment
Initial Amount: PKR 1,000
Subsequent Amount: PKR 500
Par Value
Rs. 100/-
Transaction Charges
Front-End Load: Upto 1% of NAV *
*Management Company may waive the Front-end load fully or partially at its own discretion to any investor.
Back-End Load: NIL
Management Fee
Up to 4% of gross earnings (minimum 0.05% and maximum
0.75% of net assets), within allowable expense ratio
limit.
Pricing Mechanism
Backward Day
Benchmark
The three (3) months average deposit rates of three(3)
AA rated Scheduled Islamic Banks or Islamic Banking
windows of Conventional Banks as selected by MUFAP
