UBL Funds to launch new scheme

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UBL Fund Managers announced the launch of its new investment scheme called the UBL Government Securities Fund (UGSF). The scheme will be launched on July 25, 2010 through UBL Funds Investment Centers and designated UBL Branches. UBL Government Securities Fund (UGSF) is an open-end income scheme designed to provide a stable and competitive stream of income.
The scheme will invest primarily in securities issued by the Government of Pakistan, maintaining a minimum allocation of at least 70 per cent of net assets in such securities. Additionally the scheme can invest up to 30 per cent of its nets assets in deposits with scheduled banks having a credit rating of at least AA- or above. The investment portfolio of the scheme makes it a secure and safe avenue of investment for both individual and corporate investors.