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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.

Offering Starts from July 04, 2016

Shariah Advisor

Mufti Zeeshan Abdul Aziz isthe 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 October 31st, 2018 NIT-IIF had fund under management of around Rs. 463 Million.

SALIENT FEATURES OF FUND

Fund Type

Open-End

Category

Shariah Compliant (Islamic) Income

Risk Profile

Medium

Minimum Investment

Initial Amount PKR 1,000/-
Subsequent Amount PKR 500/-

Par Value

PKR : 10/-

Transaction Charges

Front End Load: NIL
Back End Load: NIL

Wakalah Fee (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

Forward

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

Benefits

	Shariah compliant returns
	Low Wakalah Fee (Management Fee)
	Professional fund management expertise
	Risk diversification
	No minimum holding period
	Ease of redemption
	No penalty on withdrawal

Taxation

Tax Credit is available to all participants on ivestments during the year subject to the limits prescribed under the Income Tax Ordinance, 2001 (XLIX of 2001)

Trustee

Central Depository Company of Pakistan Ltd.

Risk Disclaimer: All investments in mutual fund are subject to market risks. Investors are advised in their own interest to carefully read the contents of the Offering Document, in particular the Investment Policies mentioned in Clause 2.1.1, Risk factor in Clause 2.4 and Warnings in clause 9.1 before making any investment decision.