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News & Events

Trust Deed signed for IGI Pak Brunei Income Plus Fund

Karachi: September 9, 2008 - IGI Funds Limited, the Asset Management Company of IGI Financial Services and Packages Group, announced at CDC House...

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IGI introduces Stock Fund

July 15, 2008-IGI Funds Ltd, the Asset Management Company of IGI Financial Services and Packages Group has launched the much anticipated ‘IGI Stock Fund’ on...

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IGI signs Trust Deed for launch of Islamic Income & Growth Fund

Karachi: July 8, 2008 – IGI Funds Limited, the Asset Management Company of IGI Financial Services and Packages Group, announced at CDC House today that it had signed a Trust Deed for the launch of the IGI Islamic Income & Growth Fund.

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IGI INCOME FUND OPEN-END FUND ANNOUNCES DISTRIBUTION OF DIVIDEND FOR THE PERIOD JUNE 30, 2008

We are pleased to announce that the Board of Directors of the IGI Funds Limited, the Asset Management Company of IGI Income Fund in their meeting held on July 3, 2008 at 10.00 A.M, at 7th Floor, The Forum, Khayaban-e-Jami …

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IGI Fund signs Trust Deed for launch of Stock Fund

Karachi: June 20th, 2008 – IGI Funds Limited, the Asset Management Company of IGI Financial Services and Packages Group announced at CDC House that it had signed a Trust Deed for the launch of the IGI Stock Fund. …

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IGI Funds signs Distribution Agreement with Bulls & Bulls

Karachi: May 27th, 2008 – IGI Funds Limited, the Asset Management Company of IGI Financial Services Group, has announced that it has signed a Distribution Agreement with Bulls & Bulls, to promote the distribution…

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NOTICE OF BOOK CLOSURE

The Register of Unit Holders of IGI Income Fund (Open-end) managed by IGI Funds Limited will be closed from July 01, 2008 to July 07, 2008 (both days inclusive)…

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IGI Funds introduces ‘Investment Opportunities’ for the Faisalabad business community

IGI Funds Limited, in alliance with the Chamber of Commerce and Industries Faisalabad organized an exclusive seminar on June 18, 2008 called ‘Investment Opportunities’ to introduce the advantages of Mutual Funds to the Faisalabad business community…

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NOTICE OF BOOK CLOSURE

The Register of Unit Holders of IGI Income Fund (Open-end) managed by IGI Funds Limited will be closed from July 01, 2008 to July 07, 2008 (both days inclusive)…

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IGI Funds introduces ‘Investment Opportunities’ for the Faisalabad business community

IGI Funds Limited, in alliance with the Chamber of Commerce and Industries Faisalabad organized an exclusive seminar on June 18, 2008 called ‘Investment Opportunities’ to introduce the advantages of Mutual Funds to the Faisalabad business community…

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IGI Funds Signs MoU with Pak Brunei Investment Company

Karachi: May 13th, 2008 – 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…

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IGI Funds participates in the BMA Financial Investor Forum

On April 26, 2008, IGI Funds participated in the first BMA Financial investor forum, arranged by the ‘BMA Financial’ and 'Pakistan Software Houses Association’ to increase awareness among professionals of…

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IGI INCOME FUND DISTRIBUTION FOR THE PERIOD ENDED MARCH 31, 2008

We are pleased to announce that the Board of Directors of the IGI Funds Limited, the management company of IGI Income Fund in its meeting held on April 3, 2008 has declared a payout constituting 97% of its…

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IGI Funds participation in 4th TCF Golf Tournament

Golf tournaments can be rewarding for both participants and spectators, and even more so when supporting a worthy cause like development of educational institutions for needy children in our country.

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IGI Funds Limited offers personal accident cover FREE

IGI Funds Ltd. in collaboration with IGI Insurance Ltd is now offering complimentary personal accident insurance to all retail investors. This offer is being extended to all existing and new investors of IGI Income Fund with a maximum coverage of Rs.100,000 for personal accidents such as accidental death or permanent disablement.

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Bonus Dividend

Karachi: IGI Funds Limited (IGIFL), the asset management arm of the IGI Financial Services and Packages Group announced bonus distribution for its open-end fund, the IGI Income Fund (IGIIF). Launched in April 2007 with a Pre-IPO investment of Rs. 1,125 million, the net assets of the IGI Income Fund were Rs. 1,677 million as of June 30, 2007.

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Fund Manager's Report of IGIIF for the month of June, 2008 is now available in the download section of the website.

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Knowledge Center
What is a mutual fund?
A mutual fund is a pool of money invested according to a common investment objective by an asset management company (AMC) on behalf of the fund’s investors.

Mutual funds in Pakistan are registered and legally established in the form of a Trust, under the Trust Act of 1882. The mutual fund industry is regulated by, the Securities and Exchange Commission of Pakistan (SECP) which licenses each Asset Management Company in strict compliance with the NBFC Rules, 2003 and requires all AMC’s to obtain an independent rating.

The AMC appoints a team of investment professionals, supported by a team of research analysts to manage the portfolio of the fund in conformity with the stated Investment objective.

Types of Mutual Funds

Mutual funds can be characterized as ‘Open’ or ‘Closed’ End;

Open-End Funds:
Open-End funds continually issue new units and redeem outstanding units upon investor request. The unit holders buy units of the fund or may redeem them at the published Net Asset Value (NAV). Typically, these funds have a perpetual lifespan.

The asset management company launches the fund and continues to remain the counter party in the sale and purchase transactions with the unit holder.

Closed-End Funds:
In Closed-End funds, a fixed number of share certificates are issued by the fund; the shares trade in the secondary markets (stock markets). Market price of the share certificates is determined by their demand and supply and they do not necessarily trade at NAV. Though many of these funds have a perpetual lifespan, others have a finite lifespan.

The asset management company launches the fund and no longer remains the counter party in the sales and purchase transactions with the unit holder.

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Benefits of Investing in IGIIF

Low-risk:
The portfolio of IGI Income Fund shall consist of stable and low-risk investments that provide attractive returns. By purchasing debt securities issued by banks, large corporations and the government, IGI Income Fund shall carry a relatively low overall default risk while still offering competitive returns versus similar low-risk / liquid products.

Capital preservation and liquidity:
IGI Income Fund caters to investors who seek liquidity, capital preservation, attractive short-term returns and easy entry / exit in and out of the fund.

Tax advantage:
IGI Income Fund is exempt from withholding tax and income tax (subject to compliance with the applicable minimum distribution requirements) and therefore enjoys tax advantages that translate into superior returns in comparison to competing fixed income alternatives. This tax advantage is amplified for retail investors because they also qualify for a tax rebate via a Federally approved “Investment Allowance” (under Section 62 of the Income Tax Ordinance, 2001 on purchase of new Units).

Low cost:
IGI Income Fund allows investors to benefit from professional expertise priced on an extremely competitive fee structure.

Portfolio diversification:
The portfolio of IGI Income Fund shall be constructed in such a manner so that it is less volatile in comparison to individual stocks or stock funds. Investors interested in moderating fluctuation in a stock-heavy portfolio may want to invest in income funds to help mitigate their overall portfolio volatility and gain liquid exposure to the fixed income asset class.

Empowering small investors:
Fixed income instruments generally have large minimum purchase requirements, thereby disqualifying the majority of personal investors from buying them. Alternatively, the IGI Income Fund has substantially lower minimum investment requirements, while providing the same low risk profile related to fixed income instruments. Thus individuals and corporations lacking large portfolios are able to gain exposure to fixed income instruments that have traditionally discriminated investors based on portfolio size.
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