KARACHI, June 26: UBL Fund Managers has announced the launch of its new investment plan, the UBL Principal Protected Plan – I (UPPP-I) for high net worth clients and institutional investors, a press release issued by the Fund said. UBL Fund Managers is currently managing assets of over Rs30 billion and offers a range of investment products to individual and institutional investors, the press release stated and added that based on the internationally recognized dynamic portfolio allocation strategy called the Constant Proportion Portfolio Insurance (CPPI), UPPP-I is the first of its kind capital protected plan to be launched in Pakistan. The CPPI Methodology was developed in 1962 by Goldman Sachs and has since been used by renowned Financial Institutions across the globe as part of their product investment strategy. It is now being introduced for the first time in Pakistan by UBL Fund Managers. The plan will be open for subscription till July 7, 2008, the press release stated.

Mr Atif Bokhari, President UBL and Chairman UBL Funds was quoted to have said that there was a growing appetite from investors for unique investment opportunities in the market and UBL Funds plans to bring many more innovations to the market in the near future.

The press release stated that the UPP Series was designed to provide investors with maximum benefit from the upside of the stock market, while ensuring 100 per cent principal protection at maturity regardless of the performance of the equity markets. Capital growth would be derived from exposure of up to 100 per cent in the equity component, whereas the fixed income component of the plan would allow for mitigation of risk and volatility. The UBL Principal Protected Plan – I has a fixed tenure of 3 years, but is flexible to allow early redemption, the Fund concluded.