HBL Islamic Income Fund
HBL Islamic Income Fund (Formerly PICIC Islamic Income Fund) is an open end Fund managed by HBL Asset Management Ltd, a wholly owned subsidiary of HBL.
The Investment Objective of the Fund is to provide competitive risk adjusted returns to its investors by investing in a diversified portfolio of long, medium and short term Shariah compliant debt instruments while taking in to account liquidity considerations.
Features and Benefits of HBL Islamic Income Fund:
- Ideal for investors seeking a steady income through investing in shariah compliant diversified pool of fixed income instruments.
- Regular Income Options: Short term needs are catered to by monthly, quarterly or annual payments
- Holding Period: No fixed term; can be redeemed at any time
- Minimum Investment Rs. 10,000
- Subsequent investment Rs. 1,000
- Bank Financing: Units can be used as a collateral against financing
- 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 is 2%
- Risk Level: Low/ Medium