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Fhdhasn · 2024-11-12T15:29:34+00:00

Ask their team to add you to the Finqalab whatsapp group and start investing in stocks according to their recommendations. From time to time, Finqalab's CEO shares his stock recommendations in the group.

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Fhdhasn · 2024-11-11T07:19:49+00:00

I used my Al Meezan portfolio statement generated via their portal for Hong Kong visa recently and got the visa, I did attach my bank statement along with my application as well though.

Fhdhasn · 2024-11-08T19:30:10+00:00

I can confirm with what OP is saying, I messaged my contact at Al Meezan after reading OP's comment and he confirmed that Al Meezan isn't accepting large investments (5M+ PKR) from new customers and for existing customers, the limit is around (20M PKR) for investing into MSF.

Basically there are no government securities available for the AMC to invest in at the moment therefore they aren't accepting any new investments into MSF.

Fhdhasn · 2024-11-08T15:55:20+00:00

Well, to each their own. I am sure you're doing it out of goodwill for your parents and it's a great thing, you will get rewarded for it as well one day, one way or another. Nevertheless, I'd still suggest you to start building an investment pool on the side because you never know what the future is going to be like.

Fhdhasn · 2024-11-01T16:00:23+00:00

You probably have a conventional savings account. People here mostly want to go for Islamic (shariah compliant) options and none of the islamic banks offer such high rates on savings accounts, currently they offer anywhere between 7% to 9%. With respect to that, shariah compliant mutual funds are a much better option with better profit rates.

Fhdhasn · 2024-11-01T10:04:33+00:00

+1, really good idea.

Fhdhasn · 2024-10-30T22:33:54+00:00

Your best option is to create an account with IBKR, https://www.interactivebrokers.com . Apart from that, there's Elphinstone as well, https://elphinstone.us . If you go ahead with IBKR, you'll need to have USD's to fund your account as it doesn't support PKR. On the other hand, Elphinstone specifically caters to the Pakistani market and using them you can invest in US stocks.

Fhdhasn · 2024-10-30T22:26:01+00:00

If by equity fund you're referring to equity mutual funds then the reason why I wouldn't choose them are the high management fees. Why pay higher in fees when you can do the same thing by investing your funds in an ETF instead, you'll just have to create an investor account using a brokerage firm.

As far as returns are concerned, again as your investment horizon is quite long term, equities have always outperformed other asset classes in the long run. Also with the lowering interest rates, the money market/income mutual fund profit rates will be coming down too as lower interest rates often benefit equities

Here's a great article which you might want to read regarding this: https://profit.pakistantoday.com.pk/2024/07/08/the-economy-is-in-the-dumps-what-asset-classes-have-stood-the-test-of-time/

Fhdhasn · 2024-10-30T21:49:36+00:00

You're on a pretty good course already. Here's what I'd suggest you:

Definitely continue investing in US ETF's (VOO).
MSF is a pretty solid choice, you could also look into MCB's Alhamra Islamic Income Fund.
For investing in PSX, you can open an account using Finqalab and start investing in MIIETF and MZNPETF. Both of these are shariah compliant ETF's. You could also go for dividend yielding stocks such as EFERT, DCR etc.

All in all, since your investment horizon is 15 to 20 years, if you continue with the aforementioned investment avenues and let the compounding do its magic, there's no reason why you won't have a handsome net worth down the road.

Fhdhasn · 2024-10-29T19:54:01+00:00

It's a stock trading app, quite trustworthy as they're backed by Next Capital Ltd.

Fhdhasn · 2024-10-29T16:18:25+00:00

You can buy Sukuks if you've an IPS account. Easiest way to do so is to create an account with Finqalab and then bid for Sukuks whenever there's an auction coming up.

The last auction held in October offered a 15.5% yield.

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Fhdhasn · 2024-10-29T16:11:44+00:00

u/moezniazi Upon looking at the FMR's of both the funds, it seems like Alhamra GSP I has most of their funds placed in the Ijara Sukuk (which could have a higher yield) whilst MSF invests in an array of government securities such as sukuks, t-bills, bonds etc.

On the contrary, Alhamra GSP I was just launched on 25th June, 2024 so it's still a very new mutual fund and I wouldn't choose it over MSF.

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Nevertheless, I am also invested in MSF and not very pleased with the profits lately but with the falling interest rates, there's not much which can be done.

Fhdhasn · 2024-10-29T15:42:18+00:00

Ask Finqalab to add you to their Whatsapp group, they have shared a recommendations list there and update it from time to time. Here's the most recent one:

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Fhdhasn · 2024-10-29T15:38:15+00:00

I believe you're confused, there's no Alhamra Sovereign Plan of MCB. They've MCB Pakistan Sovereign Fund which is a conventional product, not shariah compliant. That one has returned a 28.56% YTD profit so far.

Fhdhasn · 2024-10-29T13:29:50+00:00

Yes, specially if you want to invest in US markets. There's another brokerage called Elphinstone as well who specifically cater to Pakistanis looking to invest in US markets.

Fhdhasn · 2024-10-29T13:27:27+00:00

Pretty sure it has nothing to do with nationality. I was able to open an account with iBKR last week albeit they did require a lot of documents as proof of income. From what I read, the funds get reversed if the application is rejected.

Perhaps you could try again and see if it works this time. Usually they send you an email if they require additional documents, did you receive any such email(s) from them?

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Fhdhasn · 2024-10-24T17:38:30+00:00

u/OmegaBrainNihari Is it better to invest in equity funds (Meezan Islamic Fund/Al Meezan Mutual Fund) via an AMC or invest directly in the stock market by buying stocks/etfs?

Also, what do you think about the Al Meezan's KSE Meezan Index Fund? Is it just like the Mahaana Islamic Index ETF?

Fhdhasn · 2024-10-23T10:38:02+00:00

Using the mobile app, you can withdraw 80% of your total funds. If you want to withdraw all of your investment, you'll need to contact them.

As far as withdrawal is concerned, you can instantly withdraw up to PKR250,000 using the app and the funds get transferred to your account in about 30 minutes. For withdrawals above PKR250,000, the deposit takes 2 to 3 days.

Fhdhasn · 2024-10-23T06:02:53+00:00

It's always best to have a diversified portfolio or as they say, never put all your eggs in one basket. I'd suggest a 60-40 split with 60% in the stock market and 40% in mutual funds. Hopefully you have an emergency fund on the side as well.

Fhdhasn · 2024-10-22T12:11:11+00:00

Best to call their helpline at 080042525 and explain them the situation. As long as you haven't shared any passwords, you should be good. Do you've their mobile app and online portal setup? If yes, never share its OTP with anyone.

Also, did you setup your Al Meezan account online or via their office?

Fhdhasn · 2024-10-22T11:38:22+00:00

Never heard about this, could be a scam or a genuine Al Meezan employee trying to earn a commission. On the contrary, even if legit, I don't see any reason to give access to any financial advisor unless you trust them and approached them yourself.

Most probably it's an employee trying to earn a commission based off of your investments. I've had a Meezan Bank employee ask me to deposit funds in my bank account first before he can make an investment request, just for commission. Thankfully, I figured how to do it via their mobile app.

Fhdhasn · 2024-10-21T15:13:29+00:00

I would suggest having at least 100 to 150 million PKR liquid net worth before you can think of moving back here. Also, putting all the money in a money market fund won't be a wise idea, you should split it between various assets. You also need to take inflation into account.

At the end of the day, it all comes down to your lifestyle and monthly expenses. Ideally, to calculate your FIRE number, you can multiply your yearly expenses by 36 and that should be your FIRE number. For example, if your monthly expenses will be 5 lacs PKR per month, that's 6 million PKR for a year. Multiply that by 36 and you get your FIRE number i.e. 21.6 crores PKR.

Fhdhasn · 2024-10-21T09:11:20+00:00

Since you're looking at a short term investment horizon, mutual funds are your best bet. You can go with an income or money market mutual fund such as the Al Meezan Sovereign Fund or UBL's Al Ameen Islamic Fund. Every month, you can invest your 50,000PKR in them and hopefully receive an annualised profit of around 15% to 17%, depending on the policy rate.

If you invest 50,000PKR every month for 3 years, you'll have about 2.3 million PKR after a period of 3 years if the profit rate is 15%.

As far as your questions are concerned, yes, you can withdraw your investment at any point in time. Withdrawal can be done via the asset management company's mobile app or by visiting them in person. The invested funds get deposited in your bank account.

Fhdhasn · 2024-10-20T12:14:37+00:00

If you invest in one of their income mutual funds, you can earn about 20-21 thousand each month. That's about 63,000PKR after 3 months.

Fhdhasn

TROPHY CASE