ABL Islamic Income Fund

Introduction

ABL Islamic Income Fund (ABL-IIF) is a shariah compliant, open end, income fund which primarily invests in Sukuks, money market instruments and deposits. 

The objective of ABL-IIF is to provide investors with an opportunity to earn higher income over the medium to long-term by investing in a diversified portfolio consisting of different money market and debt instruments permissible under the Shariah principles.

It beneifits Investors seeking Shariah compliant, moderate risk investments entailing competitive returns. The fund maintains sufficient liquidity thus can be used for both short term and long term investment needs.

Salient Features:

• Minimum Investment Rs.5,000/-(Growth Units)
• Subsequent Investment Rs.1,000/-
• Load (Front End/Back End) Nil
• Minimum Investment Period No Minimum Holding Period Required
• Pricing Mechanism Forward
• Encashment Within 2-6 working days
• Tax Exemption As per Current Tax Laws*
• Tax Credit Up to Rs.100,000/- for individuals**

Why invest in ABL-Islamic Income Fund:

• Moderate risk investments to provide safe and consistent Halal returns.
• No Minimum investment period. You can encash whenever you want.
• Easy encashment within two working days. However the constitutive documents provide up to six working days.
• Minimum investment from Rs.5,000/- (for Growth Units) only.
• Options for monthly, quarterly and semi-annual income plans.
• Tax efficient returns* and tax credits**

* No tax is applicable on returns if investment in mutual fund is held for more than one year.

** Applicable tax laws provide tax credit incentive to salaried and self employed investors who hold their investment for over a year. Salaried investor can claim tax credit up to Rs. 100,000 on a taxable income in excess of Rs 4.5mn and Self-employed investor can avail tax credit up to Rs.125,000 on a taxable income of over 3.3 mn.