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KARACHI, April 11: National Fullerton Asset Management Ltd (Nafa) and American Life Insurance Company (Pakistan) Limited (Alico) have entered into a strategic business partnership whereby Alico’s unit-linked insurance plans will be invested in different open-end mutual funds of Nafa, says press release issued here on Friday.
Nafa, owned by National Bank of Pakistan, NIB Bank and Fullerton Fund Management Group of Singapore, is managing about Rs35 billion invested in six mutual funds.
Alico Pakistan, a company listed with Karachi and Lahore stock exchanges, is a subsidiary of American Life Insurance Company, incorporated in Delaware, USA, in 1921.
