Introduction

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.

ABL Islamic Income Fund benefits 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 Investments for Growth Funds is Rs.5,000/-
• Subsequent Investment is Rs.1,000/-
• There is no Front End or Back End Load
• No Minimum Holding Period is required
• It is based on Forward Pricing Mechanism
• Encashment can be done with 2-6 working days
• Tax Exemption As per Current Tax Laws*
• Tax Credit Up to Rs.100,000/- for salaried individuals**
• Benchmark: Average 6 months deposit rates of 3 Islamic Banks
• Tax credit status to be updated (three years)

Why invest in ABL-Islamic Income Fund:

• Moderate risk investments to provide safe and consistent Halal returns.
• No Minimum investment period.
• 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 3 years. 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.