Dubai (Sep 4, 2006) – JS ABAMCO Limited (formerly ABAMCO Limited) is Pakistan's first and largest AMC in the private sector. The company is currently managing 6 open end and 3 closed end funds with over PkR 22 billion (~USD 367 million) in investments on behalf of hundreds of institutions and thousands of satisfied individuals. JS ABAMCO Limited (formerly ABAMCO Limited) is rated AM2 by PACRA and is the first AMC in Pakistan to be rated as such. “AM2” means that the asset manager meets very high investment management industry standards. JS ABAMCO is a part of the Jahangir Siddiqui Group, which is one of the most diversified and prestigious financial institutions in Pakistan.
Speaking at a press conference at Dubai, Mr. Najam Ali, CEO JS ABAMCO said, “I am pleased to announce that JS ABAMCO Limited intends to launch Pakistan’s first Shariah compliant Index fund on the back of Dow Jones – JS Pakistan Islamic Index under a licensing agreement to be made with Dow Jones Indexes and JS & Co. Limited. This fund would provide investors with the opportunity of gaining exposure to an investable and Shariah compliant index.”
As the Dow Jones – JS Pakistan Islamic Index establishes itself as the benchmark for Shariah compliant investment in Pakistan, JS ABAMCO aims to introduce the immense Shariah compliant investment opportunities available in Pakistan’s emerging market to the Islamic Fund Managers across the globe with an estimated USD 100 billion of assets under management and a growth rate of at least 15-20% for the next 15 to 20 years.
