KARACHI, Jan 10: The National Fullerton Asset Management Limited (Nafa) is launching two new open-end funds -- Nafa Stock Fund (NSF) and Nafa Multi-Asset Fund (NMF) in mid-January in Pakistan.

The Initial Public Offering (IPO) is set for Jan 15 to 19, says a press release.

NSF's objective is to provide investors with long-term capital growth from actively managed portfolio invested primarily in listed companies in Pakistan.

NMF will provide investors with a combination of capital growth and income by investing in a variety of asset classes, like stocks, bonds, money markets, CFS, etc.

Nafa is a joint venture between the National Bank of Pakistan, the NIB Bank and the Fullerton Fund Managment Group. Fullerton is a wholly owned subsidiary of Temasek Holdings of Singapore – a US$75 billion investmement company rated AAA by both Moody’s and S&P.

The CEO of NAFA, Dr Amjad Waheed, was previously head of equity mutual funds and portfolios at the Riyadh Bank, Saudi Arabia.