What Al Ameen Funds does

Al Ameen Funds is a Shariah-compliant asset management firm in Pakistan, operated by UBL Fund Managers Limited (a private subsidiary of United Bank Limited) since 2001. The firm manages open-end mutual funds, voluntary and government contributory pension schemes, and Separately Managed Accounts (SMAs) for over 100,000 investors across Pakistan, with all offerings vetted by a qualified Shariah Advisory Board to ensure compliance with Islamic principles. The product shelf spans money market (Al-Ameen Islamic Cash Fund), sovereign, income, aggressive income, asset allocation, energy-sector equity, and Shariah equity funds, plus purpose-built savings plans targeting children's education, Haj/Umrah, regular income (Mahana Munafa), and retirement goals. The firm holds the AM1 (highest) Management Company Rating from JCR-VIS and won two Lipper Fund Awards 2026 in the Global Islamic category (Bond Sukuk and Equity Pakistan sub-categories).

On the technology side, Al Ameen Funds operates a digital-first platform comprising an iOS/Android mobile app, web portal, WhatsApp self-service chatbot, and SMS keyword gateway (short code 8258). Account opening uses OCR-based CNIC capture via NADRA Verisys combined with four-finger biometric authentication, facial recognition, and liveness detection. The platform also supports RAAST instant IBAN-based investments, FauriPaisa same-day redemption on the cash fund (up to Rs. 500,000/day), and integration with UBL Bank's digital banking channels (UBL Digital App, UBL Netbanking, UBL Phone Banking), with the firm describing its mobile app as the first dedicated investment application in Pakistan's asset management industry.

The business model is anchored in recurring management fees (Total Expense Ratio ranging from 0.45% to 3% depending on fund category) charged against assets under management. Revenue is supplemented by front-end loads (0% to 2%), tiered trustee and custody fees, and advisory fees from SMAs targeting high-net-worth individuals and corporates. Distribution combines self-serve digital channels with deep integration into UBL Bank's 1,400+ branch network, 37,000+ omni agents, and digital banking rails, supplemented by a nationwide network of investment centers staffed by licensed advisors. The firm is regulated by the Securities and Exchange Commission of Pakistan (SECP) and bundles free Life Takaful coverage (up to Rs. 5,000,000) from 5th Pillar Family Takaful across its investment plans and pension schemes.

Name

Al Ameen Funds

Legal name

UBL Fund Managers Limited

Website

https://alameenfunds.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

51–100 employees

Short description

Al Ameen Funds is a Shariah-compliant asset manager operated by UBL Fund Managers in Pakistan, serving 100,000+ investors through mutual funds, pension schemes, and investment advisory services distributed via digital platforms and UBL Bank's nationwide branch network.

Ownership category

akta.pro rank

Product category

Islamic Asset Management

NAICS

Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910), Open-End Investment Funds (52591), Pension Funds (525110), Pension Funds (52511)

SIC

Investment Advice (6282)

akta.pro primary industry

Islamic Investment Banking & Capital Markets Services (FSABAGAG)

akta.pro secondary industry

Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

Keywords

• Shariah-compliant mutual funds
• Islamic asset management
• Voluntary pension schemes
• Investment advisory services
• Islamic financial products

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Management Fees: Annual management fees charged as a percentage of Net Assets Value (NAV) across all fund schemes. Fees vary by fund type: e.g., Al-Ameen Islamic Cash Fund up to 1.5% TER, Al-Ameen Islamic Sovereign Fund up to 1.50%, Al-Ameen Islamic Aggressive Income Fund up to 2.5%. Management fees are shared with sales teams and distributors.
2. Front-End Load (Subscription Charges): Entry charges on initial investments. Some plans like Al-Ameen Islamic Aggressive Income Plan-I charge 0% to 0.25% front-end load. Minimum subsequent investments typically start at Rs. 500.
3. Trustee and Custody Fees: Trustee fees charged on net assets under management with tiered slabs: up to Rs.1 billion at Rs.0.3 million or 0.15% p.a. whichever is higher, scaling down for larger fund sizes. Custody charges are applied separately.
4. Investment Advisory Fees: Separately Managed Accounts (SMAs) for high net-worth individuals and corporate clients generate advisory fees for customized portfolio management services.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels8 records

Core offering

Al Ameen Funds, managed by UBL Fund Managers Limited, provides Shariah-compliant asset management and investment advisory services in Pakistan. Its core offerings include open-ended Islamic mutual funds spanning money market, income, sovereign, aggressive income, asset allocation, energy sector, and equity categories; voluntary and government pension schemes for individuals and civil servants; structured investment plans (children's savings, Haj, regular income, wealth builder); and Separately Managed Accounts for high net-worth individuals and corporate clients. All products are overseen by a qualified Shariah Advisory Board to ensure compliance with Islamic principles.

Product overview

Al Ameen Funds is a Shariah-compliant asset management company operated by UBL Fund Managers, offering a comprehensive suite of Islamic investment products. The portfolio comprises open-end mutual funds spanning multiple asset classes (money market, income, asset allocation, sector equity) and pension schemes for retirement planning. Key funds include Al-Ameen Islamic Cash Fund, Al-Ameen Islamic Income Fund, Al-Ameen Islamic Sovereign Fund, Al-Ameen Islamic Aggressive Income Fund, Al-Ameen Islamic Asset Allocation Fund, Al-Ameen Islamic Energy Fund, and Al-Ameen Shariah Stock Fund. The company also offers structured investment plans including Mahana Munafa Plan (regular income), Children Savings Plan, Wealth Builder Plan, Equity Builder Plan, and Haj Savings Plan. Pension offerings include Al-Ameen Islamic Retirement Savings Fund with sub-funds, Islamic Balochistan Pension Fund, Islamic Punjab Pension Fund, and Voluntary Pension Fund for KPK. Digital services include mobile app, online portal, WhatsApp self-service, digital onboarding with biometric verification, instant redemption (Fauri Paisa), investment calculators, and Separately Managed Accounts for high-net-worth clients. All products are Shariah-compliant and overseen by a qualified Shariah Advisory Board.

Differentiator

Problem solved

Functional benefit

Products and services

• Al-Ameen Islamic Cash Fund (AICF) A Shariah-compliant money market mutual fund offering competitive riba-free returns with high liquidity and instant access to money for parking surplus or idle cash.
• Al-Ameen Islamic Income Fund (AIIF) A Shariah-compliant income fund investing in Government of Pakistan securities and high-rated Islamic debt instruments to provide competitive halal income streams.
• Al-Ameen Islamic Sovereign Fund (AISF) An Islamic sovereign fund investing in Shariah-compliant securities issued by the Government of Pakistan and high-rated debt instruments for halal income generation.
• Al-Ameen Islamic Aggressive Income Fund (AIAIF) A Shariah-compliant aggressive income fund providing long-term growth through exposure to Sukuks without stock market exposure, offering less volatile returns.
• Al-Ameen Islamic Asset Allocation Fund (AIAAF) A Shariah-compliant asset allocation scheme offering diversification across multiple asset classes, combining benefits of aggressive and defensive investment avenues.
• Al-Ameen Islamic Energy Fund (AIEF) A sector-specific Shariah-compliant equity fund providing long-term capital growth by investing in Islamic listed securities across energy sectors including petroleum, gas, electricity, coal, nuclear, and renewable energy.
• Al-Ameen Shariah Stock Fund (ASSF) A Shariah-compliant equity fund offering long-term capital growth through professionally managed investment in Islamic stocks listed on the Pakistan Stock Exchange.
• Al-Ameen Islamic Retirement Savings Fund (AIRSF) A Shariah-compliant customized voluntary pension plan offering flexible allocation schemes (Debt, Equity, Money Market sub-funds) with free Takaful coverage and tax benefits for retirement planning.
• Al Ameen Islamic Balochistan Pension Fund (AIBPF) A pension fund for Government of Balochistan employees under the Balochistan Contributory Pension Scheme, offering diversified asset classes with government and employee contributions.
• Al-Ameen Islamic Punjab Pension Fund A Shariah-compliant pension fund for Punjab Government employees under the Contributory Pension System, offering diversified portfolio options and tax benefits for employees joining on or after 8th January 2024.
• Al-Ameen Voluntary Pension Fund – KPK A voluntary pension scheme available for KPK residents providing retirement savings with Shariah-compliant investment options.
• Al-Ameen Islamic Mahana Munafa Plan A regular income plan allowing investors to receive profit on investment on monthly, quarterly, semi-annual, or annual basis with easy access to funds and no withdrawal charges.
• Al-Ameen Islamic Children Savings Plan A savings plan designed for parents to save for children's higher education and marriage expenses, with minimum investment of Rs. 2,000 and free Takaful coverage.
• Al-Ameen Islamic Wealth Builder Plan A systematic investment plan helping investors grow savings by investing in Al-Ameen Shariah Stock Fund and Al-Ameen Islamic Sovereign Fund on a regular basis with tax rebate benefits.
• Al-Ameen Islamic Equity Builder Plan An investment plan using Rupee Cost Averaging strategy, initially investing in Islamic Sovereign Fund then periodically transferring to Shariah Stock Fund to lower average costs.
• Al-Ameen Islamic Haj Savings Plan A medium to long-term investment plan to accumulate savings for Haj or Umrah pilgrimage, generating competitive riba-free returns through Shariah-compliant fund schemes.
• Separately Managed Accounts (SMA) Premium investment advisory service offering customized Shariah-compliant portfolios for corporate and high net-worth individuals with professional portfolio management.

Quantifiable outcome

• 100,000+ investors nationwide
• +5 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• United Bank Limited (UBL)coreChannel Partner/ Reseller/ DistributorUBL Bank serves as the primary distribution partner for Al Ameen Funds, leveraging its extensive network of 1,400+ branches, 37,000+ omni agents, and 1,400+ ATMs across Pakistan. UBL account holders can open e-accounts and invest via UBL Digital App, UBL Netbanking, and UBL Phone Banking (111-825-888). UBL is a major shareholder in UBL Fund Managers Limited, the management company of Al Ameen Funds.
• 5th Pillar Family Takaful LimitedcoreStrategic or Co-development PartnerTakaful partner providing free Life Takaful coverage to eligible Al Ameen Funds investors in investment plans and pension schemes. Coverage equals the cumulative investment value up to Rs. 5,000,000 for death/permanent total disability and 20% of sum assured or Rs. 1,000,000 for accidental medical reimbursement.
• NADRA VerisyssupportingTechnology or IntegrationNational Database and Registration Authority verification service used for KYC and identity verification through CNIC scanning during the digital onboarding process via the Al Ameen Funds mobile app.
• Kuickpay / 1 BillsupportingTechnology or IntegrationDigital payment platform enabling subsequent investments with a minimum of Rs. 5,000 per transaction through bill payment IDs.
• RAAST (Pakistan's Instant Payment System)supportingTechnology or IntegrationPakistan's instant payment system enabling real-time inter-bank fund transfers for investments. Al Ameen Funds generates permanent RAAST IBANs per fund for recurring investments.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• HBL Asset Management: Asset management arm of Habib Bank Limited, one of Pakistan's largest banks, with a wide product shelf including Islamic funds. Comparable via bank-affiliated distribution and broad product portfolio, though it is not a pure-play Islamic manager.
• Alfalah GHP Investment Management: Bank-affiliated Pakistani AMC owned by Bank Alfalah and ABG. Competes in the same Islamic and conventional fund categories and uses a similar bank-led distribution model.

Direct peers

• Habib Asset Management: Pakistani asset manager offering Islamic mutual funds and pension schemes. Comparable in Shariah-compliant product focus and Pakistan-only retail and institutional target market.
• ABL Asset Management: Bank-affiliated Pakistani AMC managing both conventional and Islamic funds under Allied Bank ownership. Comparable to Al Ameen in bank-distribution model, Shariah-compliant product range, and pension scheme offerings.
• Meezan Asset Management Limited: Pakistan's largest dedicated Shariah-compliant asset manager, offering Islamic mutual funds, pension schemes, and investment advisory. Directly competes with Al Ameen in the same Shariah-compliant retail and institutional segments.
• Atlas Asset Management: Established Pakistani AMC operating Islamic and conventional mutual funds and pension schemes. Comparable in fund structure, retail distribution model, and Pakistan-only geographic focus.
• AKD Investment Management: Pakistani AMC operating Islamic and conventional mutual funds. Comparable as a mid-sized Pakistan-focused fund manager competing for retail wallet share.
• National Investment Trust (NIT): Pakistan's largest asset management company by AUM, operating mutual funds and investment plans including Islamic offerings. Comparable to Al Ameen in fund structure, distribution via banks, and retail investor base.
• JS Investments: Pakistani asset manager offering mutual funds, pension funds, and SMAs including Islamic categories. Comparable in product mix, retail and HNW distribution, and investment advisory services.
• MCB-Arif Habib Savings & Investments: One of Pakistan's largest AMCs with a broad mutual fund lineup including Islamic income, equity, and pension funds. Comparable in fund breadth, scale, and bank-distribution-led go-to-market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AlAmeenFunds
• YouTubeyoutube.com/@Al-AmeenFunds
• Facebookfacebook.com/alameenfundspk
• LinkedInlinkedin.com/company/al-ameen-funds
• Instagraminstagram.com/alameen_funds

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Al Ameen Funds