RE - In an Extraordinary General Meeting (EOGM) of Pakistan Strategic Allocation Fund (PSAF); a close-end fund of Arif Habib Investments Limited (AHI); held on 8th September 2010, the certificate holders have approved the conversion of the Fund into an Open End fund subject to the approval of the Securities and Exchange Commission of Pakistan (SECP) and fulfillment of all legal and regulatory formalities.
The special resolutions for the conversion have been passed unanimously by the certificate holders present in person or as proxies in the meeting who were entitled to vote thereat. The mutual funds industry is increasingly becoming the investment avenue of choice in Pakistan and offers various investment products with different risk/return profiles. Arif Habib Investments Limited (AHI) is an asset management company managing 12 funds and is rated AM2 (Positive outlook), currently the highest Asset Management Quality rating in the industry. The Company is currently managing Rs 15.948b ($185.657m) as of 31st August 2010. AHI holds 8 open-end, 3 closed-end, 2 Pension Funds and 8 investment plans in its product portfolio to meet the investment needs of its growing clientele.