May 15, 2008	Thursday	Jamadi-ul-Awwal 9, 1429

KARACHI, May 14: IGI Funds Limited, a part of the IGI Financial Services Group, signed a memorandum of understanding (MoU) with Pak Brunei Investment Company to set up a ‘Hybrid Portfolio Fund’ which will offer a steady income while providing a high degree of principal safety to its investors.The fund will be unique in its nature as it is directed towards the needs of a specific investor class.

Speaking at the ceremony, Ms Ayesha Aziz, Managing Director, Pak Brunei Investment Company Ltd, expressed confidence that the Pakistani mutual fund market will continue to grow. She also emphasised the need for focused distribution efforts and customised investor based solutions.

“We are pleased to sign a memorandum of understanding with Pak Brunei Investment Company to act as fund managers for the PBIC Hybrid Portfolio Fund and believe that the fund will provide good value in terms of risk-adjusted returns and expect that the Portfolio mix will dominate the mutual fund industry in its asset class in the years to come,” said Mr Ali Azam Shirazee, CEO, IGI Funds Limited.