HBL Islamic Equity Fund
HBL Islamic Equity Fund (Formerly PICIC Islamic Stock Fund) is an open-end “Shariah Compliant” Equity Fund managed by HBL Asset Management Ltd, a wholly owned subsidiary of HBL.
The objective of the fund is to provide maximum total return to the unit holders from investment in “Shariah Compliant” equity investments for the given level of risk.
Features and Benefits of HBL Islamic Equity Fund
- Ideal for investors who wish to make shariah compliant investments for long term capital growth.
- Holding Period: No fixed term; can be redeemed at any time
- Minimum Investment Rs. 10,000
- Subsequent investment Rs. 1,000
- Encashment: 2-3 Days. However constitutive documents of the fund allow up to six working days.
- Tax Credit: Can be availed by Salaried and self-employed individuals as per current tax laws.
- Capital Gains Tax (CGT) will be deducted as per current tax law
- Front End Load: 2%
- Risk Level: High