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KARACHI: Pakistani Shariah-compliant Lucky Investments Limited announced on Monday it has crossed the Rs100 billion [$350 million] mark in Assets Under Management (AUM) within only six months of launching its fund, making it the first assets management company firm to achieve the feat. 

Lucky Investments, a subsidiary of Pakistan’s Lucky Group, focuses on investment and portfolio management across sectors like energy, real estate and manufacturing. Originally known as Interloop Asset Management Limited, the company was acquired by Yunus Brothers Group in December 2024 and rebranded as Lucky Investments Limited.

AUM is the total market value of all the assets that a financial institution, such as a mutual fund or investment adviser, manages on behalf of its clients. In its statement, Lucky Investments said the company has received overwhelming response since its inception from both institutional and retail investors across the country.

“With their trust, we’ve reached PKR 100 Billion AUMs — a milestone that aligns with our vision of becoming the premier choice for Shariah-compliant investments,” Lucky Investments CEO Mohammad Shoaib said in a statement.

In April, the firm said it had successfully raised Rs50 billion ($170 million) during the Initial Public Offering (IPO) of its debut fund, the Lucky Islamic Money Market Fund, the largest ever mutual fund launch in Pakistan. 

“We remain committed to delivering world-class, Riba-free investment solutions, anchored in service excellence, transparency and trust,” Lucky Investments said in its press release. 

Lucky Investments said it was also planning to launch a Voluntary Pension Schemes to boost retail investor participation in retirement savings and is also coordinating with the government for a separate fund for its employees.

Lucky Investments’ achievement reflects the growing traction that Shariah-compliant investments are gaining in Pakistan, as investors seek ethical and faith-based financial solutions. 

Supported by a growing Islamic finance sector and regulatory backing from Pakistan’s Securities and Exchange Commission and the State Bank, the market continues to expand through mutual funds, sukuk and Islamic banking products.

NEW DELHI, India: India and Pakistan’s refusal to shake hands during their Asia Cup cricket matches bent the code of the so-called “gentleman’s game,” as sport once again served as a proxy battlefield.

The tournament marks the first meeting between the nuclear-armed neighbors since their armies clashed in May — a four-day exchange of artillery, drones and missiles that killed more than 70 people.

The sporting rivals do not play bilateral matches, meeting only at neutral venues during international tournaments.

The handshake snub is the latest example of how cricket mirrors politics between the two countries.

EYES DOWN

The cricket-mad neighbors have already met twice in the Asia Cup T20 tournament this month, played in the United Arab Emirates as a neutral venue.

On September 14, India captain Suryakumar Yadav said his refusal to shake hands with his Pakistani counterpart was “aligned with the government” — a move Pakistan said had “disappointed” them.

When they met again on September 21, neither side offered the traditional handshake. Both skippers kept their eyes and hands down after the toss.

The hostility did not stop there. Pakistan’s Sahibzada Farhan celebrated his half-century by using his bat like a gun, while his teammate Haris Rauf taunted the crowd by seemingly mimicking a plane crashing, an apparent reference to the Indian fighter jets that Pakistan said they shot down in May.

India won both games.

If both sides progress, they may meet in the September 28 final — and again in October when India co-hosts the Women’s World Cup, with that game played in Sri Lanka.

‘CRICKET FOR PEACE’

A love of cricket is one thing the two sides can agree on.

In 1987, Pakistan’s then military ruler Ziaul Haq stunned India with a surprise visit to a Test match in Jaipur.

The hastily arranged trip, dubbed “cricket for peace,” helped defuse a tense border standoff and saw Zia charm both fans and Indian prime minister Rajiv Gandhi.

In 2005, a match in New Delhi brought Pakistan’s then president Pervez Musharraf face-to-face with Indian leader Manmohan Singh.

PITCH GARDENING

In 1991, spade-wielding activists from India’s Hindu right-wing Shiv Sena party dug up the pitch at Mumbai’s Wankhede Stadium to prevent Pakistan’s cricket tour.

The scheduled one-day series was canceled.

Security fears forced Pakistan to call off two more tours in 1993 and 1994 before returning for the 1996 World Cup.

In 1999, Shiv Sena struck again, damaging the pitch at New Delhi’s Feroz Shah Kotla stadium ahead of a Test match, but authorities repaired it in time.

FANS EVICTED

A 1999 Test in Kolkata’s Eden Gardens descended into chaos after India’s Sachin Tendulkar was controversially run out following a collision with Pakistan’s Shoaib Akhtar.

Crowds erupted, chanting “cheat, cheat” and hurled water bottles at Akhtar, forcing officials to halt play.

Tendulkar’s pleas failed to calm the stands, thousands of fans were evicted, and Pakistan sealed victory in front of empty stands.

PAKISTAN BAN

Pakistani stars were a major draw in the Indian Premier League’s 2008 debut season, with Sohail Tanvir topping the wicket charts.

But after the Mumbai terror attacks that same year, carried out by Pakistan-based militants, Indian authorities barred players from across the border.

The ban remains in place, depriving Pakistan cricketers of the chance to play in the world’s most lucrative T20 league.