Business Groups

AKD is active in the fund management business through Al Meezan Investment and Financial Services (AMIFS). 'AKD's joint venture partners in AMIFS' Pak Kuwait Investment Company (PKIC) and the National Investment Trust (NIT) - are two of Pakistan's leading institutional investors. With over Rs.20 billion under management and the only open-ended mutual fund in Pakistan, NIT is the largest local fund manager. PKIC, a joint venture between the Governments of Pakistan and Kuwait, manages one of the largest equity portfolios in Pakistan.

AMIFS manages the closed-end Al Meezan Mutual Fund (AMMF), with approximately Rs.500 million under management on behalf of both institutional and individual investors. AMMF recently increased its capital base by Rs. 180 million through a rights offering in June 2000.

AMIFS intends to expand its operations by launching additional funds in the near future, including funds which will focus on the growing market for listed debt securities in Pakistan. AMIFS's proven track record as well as the resources and reputations of its sponsors give it a substantial edge in raising new funds.

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