CEO, Ahmed Ateeq, elaborated at the event of launch that primary aim of the fund was to provide retail and small investors with an investment avenue that yielded high returns, constituted low risk and to maximise current income consistent with preservation of capital and liquidity. However, he clarified, that this fund also extended its services to SME's, Employee Benefit & Pension Funds, Corporate and Financial Institutions.
The salient feature of Primus DRF is its management fee of 45bps. The fund entails no additional costs and investors may invest with as less as Rs 5,000 without any restrictions on minimum holding period. Other key features of the fund are; virtually no risk, higher tax adjusted returns, high investment standards and highly liquid investment.
Primus Daily Reserve Fund is launched and managed by Primus Investment Management Limited. The AMC was incorporated as a public limited, unlisted Non-Banking Finance Company and has acquired licenses to provide quality Investment Advisory and Asset Management Services under NBFC Rules, 2008.-PR