The Pakistan International Element Islamic Fund (PIIF) is an open-end equity fund, which is Shariah compliant, and is able to invest in Pakistan capital markets as well as internationally markets.
Bering is an Islamic equity fund, it shall invest only in Shariah compliant equity and debt (including foreign) securities.
The bulk of the investment will be in the Pakistan capital markets, with the option of investing a sizeable portion (upto 30%) internationally or USD 15 million whichever is less.
The Fund shall be subject to a continuous compliance audit whereby the audit report will be made available to the Trustees every month.

Types of Units:
There are following three types of units that can be purchased:
Type A Units have no redemption restrictions or back-end load and will be charged the normal front-end load (currently 4%).
Type B Units have no redemption restrictions or front-end load (except for transaction cost) but will be charged a reducing back-end load for the first 3 years (3.0% reduced by 1.0% per year), and at the end of the 3 years of investment there is no back-end load at all.
Type C Units shall be issued with an initial investment of Rs. 10 million with Rs. 1 million thereafter. No front-end restrictions but only a transaction cost of 0.25% will be charged. A reducing back-end load for the first 3 years ( 3.0% reduced by 1.0% per year), and at the end of the 3 years of investment there is no back-end load at all.
The units shall normally be registered with a Registrar who shall send an annual statement of account (can be requested at higher frequency). Units can also be issued in physical form as certificates at the option of the investor after paying a nominal fee.