Subscription period of Alliance S&P Shariah Fund extended

The subscription period of Alliance S&P Shariah Index Fund will continue till 20 April 2014. Investors can subscribe this fund at face value till 20 April and after that the fund will be sold at NAV (net asset value) related price. The fund will use a Shariah index which has been designed, calculated and is maintained by one of the world’s leaders in indices, Standard & Poor’s (S&P) Indices. Alliance S&P Shariah Index Fund is an open-end fund and will not be listed on the stock exchanges. The units of the fund will be sold and repurchased by the asset manager and sales agents across the country. These sales centres will make it easy for the investors to buy, sell or transfer their units without any hassle, according to a statement issued by Alliance Capital.