KARACHI - With Securities & Exchange Commission of Pakistan (SECP) recent decision to mark down TFC (Term Finance Certificates) prices by 5 per cent to 30 per cent, investment in money market / income funds has become extremely attractive for both individual and institutional investors. This was stated by Mir Muhammad Ali, CFA - CEO of UBL Fund Managers Limited in an official press statement. Mir further commented that the portfolio quality of Income Funds managed by UBL Fund Managers, namely United Growth & Income Fund (UGIF), United Money Market Fund (UMF) and United Islamic Income Fund (UIIF), consists of high quality investment grade TFCs where there is no impairment and the funds continue to be serviced on time. By bringing down the value of the portfolio through a book entry only and without the earning stream from these TFCs being affected, investors in these funds can expect to get a much higher return in the range of 14.5% p.a. to 15% p.a. This return effectively is much higher as it is tax free under applicable tax law. UBL Fund Managers due to its prudent fund management, efficient liquidity management and strong risk management and compliance remains in the forefront in providing high quality investment management services to its investors. Mir stated that Strict adherence to our principle of 'Safety First' in managing income/money market funds ensures that investors' money is invested diligently and is available as and when required by them. He also mentioned that UBL Fund Managers has met all redemption requests from its investors well within the period allowed under the Funds constitutional documents. He further added, my advice to investors who were already invested in Income Funds, before the SECP directed TFC revaluation, is to ride out this period where we expect to recover the decline in Net Asset Value (NAV) in the shortest possible time. In fact this provides a good opportunity to increase the investment amount as yields have become very attractive.