Karachi, Al Habib Asset Management Limited informed Pakistan Stock Exchange that the Company has decided to reverse the provisioning and stop further accruals against Sindh Workers Welfare fund in Mutual Funds and Pension Fund on same date.
Habib Asset Management Limited, an associated company of Bank AL Habib Limited was incorporated on September 30, 2005 as a Public Limited Company. The main objective of the company is to float open-end mutual funds for different class of investors. Habib Asset Management is presently managing First Habib Income Fund (FHIF), First Habib Stock Fund (FHSF), First Habib Cash Fund (FHCF) and First Habib Islamic Balanced Fund (FHIBF).