AL Habib Asset Management Limited, a wholly owned subsidiary of Bank AL Habib Limited was incorporated on September 30, 2005 as a Public Limited Company. The main objective of the company is to float open-end mutual funds for different class of investors. AL Habib Asset Management is presently managing the following funds: AL Habib Cash Fund (Formerly First Habib Cash Fund) AL Habib Islamic Cash Fund AL Habib Income Fund (Formerly First Habib Income Fund) AL Habib Islamic Income Fund (Formerly First Habib Islamic Income Fund) AL Habib Stock Fund (Formerly First Habib Stock Fund) AL Habib Islamic Stock Fund (Formerly First Habib Islamic Stock Fund) AL Habib Asset Allocation Fund (Formerly First Habib Asset Allocation Fund) AL Habib Money Market Fund AL Habib Islamic Savings Fund AL Habib Asset also holds license for investment advisory services.