PAKISTAN, Karachi, 2 February 2017: UBL Fund Managers Limited (UBL Funds) has signed an agreement with 1LINK (Guarantee) Limited (“1LINk”), the largest banking Switch in Pakistan, to facilitate investors through the launch of ‘UBL Funds-Online Investment’ facility. The launching ceremony was held at UBL Funds’ Corporate Office in Karachi.
Under this partnership, UBL Funds is enabled at 1LINKthrough which UBL Funds’ investors can avail digital payment services over a period of time through 1LINKmember banks. UBL Funds’ Online Investment facility caters to investors who want to make subsequent investments online. Currently, the banks that have enabled UBL Funds’ Online Investment facility on 1LINK are United Bank Limited, Bank Al-Habib Limited, Habib Metropolitan Bank Limited, FINCA Microfinance Bank Limited, Summit Bank and more banks being added subsequently.
On this auspicious occasion, UBL Funds’ CEO, Mr. Yasir Qadri, termed this partnership as a “turning point for UBL Funds and how our customers invest with us.” He further stated, “With this strategic partnership, we aim to expand our scope of services for our valued customers. This will not only provide them convenience in terms of time and place, but will also further ease the process of investment.”
Mr. Najeeb Agrawalla, CEO of 1Link Guarantee Limited, also commented saying, “With the increasing interest of consumers in the mutual funds industry, we are hopeful that this partnership will open more avenues for both of the organizations to work mutually in strengthening the investment culture in Pakistan.”
Under this facility, UBL Funds online users or mobile users need to generate a reference number which will be utilized for online transactions along with other relevant details. Once the investment account is made,making additional investments is very simple and efficient, with just a few clicks.
The launch of UBL Funds Online Investment facility is in line with the company-wide Go Green initiative. In order to drive paperless means, UBL Funds has shifted focus onto technological innovation. Online access, SMS, recorded telephone services, and ATMs are also among the modes of convenient, paperless investing that clients enjoy. UBL Funds also recently launched the first Mobile Application in the AMC industry, allowing clients to view their investment portfolios and transact on-the-go. Not only does this make transacting easier, but it also has the added benefit of reducing carbon footprint, allowing for more environment-friendly, paperless, at-your-fingertips avenues to invest.
About UBL Fund Managers Limited
Established in 2001 and regulated by the Securities and Exchange Commission of Pakistan, UBL Funds has been offering its products and services to investors in Pakistan for one and a half decades and, since 2011, has presence in the Middle East as well. With AUMs of PKR 78.88bn as of 31st January 2017, UBL Funds is one of the leading Asset Management Companies in Pakistan. It has also been given the High Management Quality Rating of AM2++ by JCR-VIS Credit Rating Company, which is currently the highest management quality rating assigned to any AMC in Pakistan.
1LINK Guarantee Limited, owned by a consortium of 11 banks, is the country’s 1st PSO/PSP and largest switch and payment system, providing a host of valuable online banking services like, ATM switching, Bills Payment, Inter Bank Funds Transfer, Fraud Risk Management, Switch Dispute Resolution, Global Payment schemes, PayPak – Domestic Payment Scheme, etc. 1LINK is continuously evolving and adding new products and services to benefit the financial industry.
Disclaimer: All investments in mutual funds & pension funds are subject to market risks. Past performance is not necessarily indicative of future results. Please read the Offering Document(s) to understand investment policies and risks involved. Withdrawal from pension funds before retirement shall have tax implications.