KARACHI: UBL Fund Managers Limited (UBL Funds) has been appointed as the official Investment Advisor for Federal Employees Benevolent and Group Insurance Funds (FEB). The investment advisory agreement between UBL Funds and FEB was executed in early January. FEB current fund size is in excess of Rs 20 billion.
Federal Employees Benevolent and Group Insurance Funds is a government body established in 1969 and provides several welfare grants and insurance coverage to all Federal Government employees and other autonomous bodies. To manage their investment portfolio, Federal Employees Benevolent and Group Insurance Funds were in need of an Investment Advisor. For this purpose, eight Asset Management and Investment Advisory Companies were called upon to present their Investment Advisory credentials. After a long and rigorous selection process, UBL Funds was selected based on a number of quantitative and qualitative factors; including Funds and SMA performance, industry experience, investment advisory and research process, proposed portfolio etc.
Mir Mohammad Ali, CEO UBL Funds, stated “It gives us great pride to be appointed as investment advisors for Federal Employees Benevolent and Group Insurance Funds. With our experience of managing various investment instruments and classes, consistent performance over time and a series of innovations in the financial industry over the last decade, we are confident that we will be able to guide them in making the right investment decisions.” He added that “We regard our role as Investment Advisor as one of our most important responsibilities and are dedicated to ensuring our client’s portfolios robust growth and health in future.”
As Investment Advisor, UBL Funds will be responsible for preparing investment recommendations based on their expertise relating to Fixed Income and Equity securities, and the overall view of the market environment; keeping in mind the client’s risk and return objectives. UBL Funds will also be meeting the investment committee regularly to discuss investment avenues and provide recommendations.
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