KARACHI, Oct 6: Faysal Asset Management (FAML) will launch ‘Faysal Income and Growth Fund’ (FIGF) on Monday (Oct 10) with the hope to provide up to 10 per cent yield to investors.

FAML is already managing an open-end fund, Faysal Balanced Growth Fund, with over Rs1.9 billion. Ahsan Raza Durrani, CEO of FIGF, said 90 per cent of FIGF would be invested in fixed income securities and out of this 63 per cent would be invested in government securities. The remaining 10 per cent would be invested in equity securities.

The new fund is conservative in its mode of investment that is clear from its approach that only two per cent of the total fund would be exposed to the capital market. Mr Durrani said that for higher yield, management fee was much lower than the normal fee.

Mr Durrani team is also working on an Islamic fund and real estate funds. He said the Islamic fund would be launched in a couple of months.