Open-end fund
Meezan Islamic Fund
Meezan Islamic Fund is an open-end fund managed by Al Meezan Investments, with a mandate aimed at Shariah-screened equities. This page explains the paperwork. It does not reprint today’s NAV or suggest that the fund is suitable for you.
Units, not shares
You own units. The manager publishes a net asset value. You subscribe and redeem with the manager or its distributors, using the NAV and any load the offering document describes. That is a different mechanic from buying OGDC through a broker, even when the fund itself holds listed shares.
The offering document is the mandate: what the fund may own, which screen it cites, and what it says it will do if a holding falls outside the screen. The fund’s name is not the mandate. A top-ten list in a factsheet is a snapshot, not the policy.
This page does not quote a live price, a dividend amount, or a target. Those figures belong in the company’s own notices, your broker, and — for a fund — the manager’s statement and MUFAP’s published NAV. PSX Tracker is not a broker and does not place orders.
Where the number comes from
MUFAP publishes fund NAVs for the industry. Your unit balance does not come from MUFAP. It comes from the allocation and from the statement. If those units and the tracker disagree, fix the ledger. Do not “correct” it by typing a NAV into the quantity field.
A sales load means the cash you sent and the units you received are not a simple division of cash by the bare NAV. Record both from the allocation note.
Distributions
The fund may pay cash, issue units, or both. Bonus units that offset an NAV drop can be a return of your own capital in unit form. Entering them at zero cost makes a later redemption look like a pure profit. Use the statement’s description.
Tax on a fund distribution is not the same form as withholding on a listed company’s cash dividend. The statement and an adviser beat a guess copied from a share you also own.
In PSX Tracker
Keep the fund in a fund portfolio so unit math stays away from share lots. Mark it with the published NAV when you want a daily figure, and expect that figure to be a mark, not a withdrawal you can spend without redeeming.
The halal-investing and KMI guides explain why a fund’s screen is a document you read and not a badge this website awards.
Common questions
Does this page show today’s NAV?
No. Use MUFAP and the manager for the published NAV. This site does not republish that feed.
Is the fund halal because of its name?
The name tells you the manager’s stated mandate. Your own conclusion depends on the offering document, the screen it cites, and the scholar you trust.
How do I record a subscription?
Enter the cash you paid and the units you were allotted, including any load, on the allocation date. Keep the PDF.