KARACHI, Feb 28: UBL Fund Management and its parent company, United Bank, announced on Thursday the launch of their first joint investment product, The UBL Capital Protected Fund-1.

It was also announced that the initial public offering of the fund is set for March 1 to 15.

This is the first time that a bank and its asset management company have jointly launched a capital protected product in Pakistan, said a press release issued by the UBL.