Alfalah GHP Islamic Prosperity Planning Fund Report - July 2019

Transcription

1. 13 Alfalah GHP Investment Management Limited Fund Managers ' Report July, 2019 Alfalah GHP Islamic Prosperity Planning Fund Fund: Not Yet Rated AMC: "AM2+" by PACRA 08-Feb-19 Investment Objective Alfalah GHP Islamic Prosperity Planning Fund is an Open-ended Shariah Complaint Fund of Funds Scheme that aims to generate returns on investment as per the respective Allocation Plan by investing in Shariah complaint Mutual funds in line with the risk tolerance of the investor. Basic Information Category: Shariah Fund of Funds Scheme Fund Type: Open Ended Benchmark: AGIPPF-BAP: Weighted Avg. of KMI30 index and avg. return on 6M deposit rate of 3 (three) A or above rated islamic bank as selected by MUFAP. On the basis of actual investments in underlying schemes. ******** 1AGIPPF-MAP, AAP2 & AAP3: Weighted Avg. of KMI30 index and avg. return on 6M deposit rate of 3 (three) A or above rated islamic bank as selected by MUFAP. based on actual proportion of investment in equity and income/ money market component made by the allocation plan. Pricing: Forward Day AGIPPF-BAP Front-end Load: 1.25% 1AGIPPF-MAP Front-end Load: 2.5% AGIPPF-AAP 2 Front-end Load: 2.5% AGIPPF-AAP 3 Front-end Load: 2.5% Investment Committee Risk Profile: Plan Specific Management Fee: 1.25%* 1Min. Initial Investment: PKR 500/1Min. Subseq. Investment: PKR 100/Trustee: CDC Pakistan Limited Launch Date: June 09, 2016 AAP2 Launch Date: Nov 01, 2016 AAP3 Launch Date: June 21, 2017 Par Value: 100 Auditor: A.F Ferguson & Co. Pakistan Dealing Days: Monday - Friday Listing: Pakistan Stock Exchange Cut-off Time: 9:00 am - 4:00 pm Leverage: Nil AGIPPF-BAP Back-end Load: 0% 1AGIPPF-MAP Back-end Load ****** AGIPPF-AAP 2 Back-end Load******* AGIPPF-AAP 3 Back-end Load******* Maheen Rahman Noman Soomro Nabeel Malik Muddasir Ahmed Shaikh Shariq Mukhtar Hashmi Sana Abdullah, CFA Wahaj Ahmed Chief Executive Officer Chief Operating Officer Chief Investment Officer Head of Equities Head of Compliance Fund Manager Fund Manager Alfalah GHP Islamic Balanced Allocation Plan (Holdings as % of Total Assets) Portfolio Credit Holdings June July Quality Cash 2.19% 1.21% ** 3 Star 94.38% Equity 3.05% 2.83% ** 2 Star 0.00% Income 92.29% 91.55% AA 0.00% Others 2.46% 4.41% AA0.00% Total 100.00% 100.00% A+ 0.00% Alfalah GHP Islamic Balanced Allocation Plan Fund Size (PkR mn; as on Jul 31, 2019): NAV (PkR): Total Expense Ratio** Performance BM Since Inception Return******** 2.55% YTD 0.24% Month 0.24% 1 1 333.89 99.9541 0.04% AGIBAP 3.87% 0.68% 0.68% Alfalah GHP Islamic Moderate Allocation Plan (Holdings as % of Total Assets) Portfolio Credit Holdings June July Quality Cash 1.64% 1.70% ** 3 Star 98.38% Equity 0.00% 3.38% ** 2 Star 0.00% Income 98.14% 95.00% AA 0.00% Others 0.23% -0.09% AA0.00% Total 100.00% 100.00% A+ 0.00% Alfalah GHP Islamic Moderate Allocation Plan Fund Size (PkR mn; as on Jul 31, 2019): NAV (PkR): Total Expense Ratio*** Performance BM Since Inception Return******** 2.41% YTD 0.39% Month 0.39% 293.38 99.0539 0.04% AGIMAP 3.30% 0.88% 0.88% Alfalah GHP Islamic Active Allocation Plan 2 (Holdings as % of Total Assets) Holdings June July Cash 1.22% 0.82% Equity 4.35% 4.15% Income 94.30% 94.91% Others 0.12% 0.12% Total 100.00% 100.00% Alfalah GHP Islamic Active Allocation Plan 2 Fund Size (PkR mn; as on Jul 31, 2019): NAV (PkR): Total Expense Ratio**** Performance BM Since Inception Return******** -3.00% YTD 0.17% Month 0.17% 408.63 91.1767 0.04% AGIAAP2 -1.10% 0.61% 0.61% Alfalah GHP Islamic Active Allocation Plan 3 (Holdings as % of Total Assets) Portfolio Credit Holdings June July Quality Cash 2.35% 2.68% ** 3 Star 98.38% Equity 0.00% 0.00% ** 2 Star 0.00% Income 97.62% 96.58% AA 0.00% Others 0.04% 0.73% AA0.00% Total 100.00% 100.00% A+ 0.00% Alfalah GHP Islamic Active Allocation Plan 3 Fund Size (PkR mn; as on Jul 31, 2019): NAV (PkR): Total Expense Ratio***** Performance BM Since Inception Return******** -5.10% YTD 0.45% Month 0.45% 421.75 93.7888 0.04% AGIAAP3 -2.96% 0.88% 0.88% Details of Non-Compliant Investments Name Fund Name Type Value before Provisioning Alfalah GHP Islamic Balanced Allocation Plan (1 Year -Rolling Returns) Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 AGIBAP 0.63% 0.10% 0.18% 0.48% 0.00% BM 0.60% -0.14% -0.18% 0.52% -0.36% 1 Alfalah GHP Islamic Moderate Allocation Plan (1 Year -Rolling Jul-18 Aug-18 Sep-18 Oct-18 AGIMAP 0.39% 0.37% 0.50% 0.25% BM 0.22% 0.23% 0.22% 0.26% 1 Provisioning Held, if any Dec-18 Jan-19 -0.52% - 1.71% -1.07% 1.72% Returns) Nov-18 Dec-18 0.54% -0.24% 0.20% -0.86% Value after Provisioning % Gross Assets % Net Assets Feb-19 0.19% -0.28% Mar-19 0.09% -0.22% Apr-19 -0.17% -0.55% May-19 0.33% 0.24% Jun-19 0.13% 0.03% Jul-19 0.68% 0.24% Jan-19 1.60% 1.57% Feb-19 0.28% -0.17% Mar-19 0.13% -0.16% Apr-19 -0.10% -0.54% May-19 0.30% -0.36% Jun-19 0.82% 0.42% Jul-19 0.88% 0.39% Alfalah GHP Islamic Active Allocation Plan 2 (1 Year -Rolling Returns) Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 AGIAAP2 0.59% -0.58% -0.54% 0.16% -1.04% BM 0.69% -1.06% -1.12% -0.12% -1.56% Dec-18 -3.23% -3.96% Jan-19 3.61% 3.55% Feb-19 0.22% -0.38% Mar-19 -0.14% -0.58% Apr-19 -0.74% -1.27% May-19 -0.16% -0.28% Jun-19 0.02% -0.09% Jul-19 0.61% 0.17% Alfalah GHP Islamic Active Allocation Plan 3 (1 Year -Rolling Returns) Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 AGIAAP3 0.56% -0.50% -0.41% 0.94% -1.07% BM 0.66% -0.95% -1.00% 1.05% -1.73% Dec-18 -3.78% -4.61% Jan-19 4.52% 5.02% Feb-19 -0.49% -1.33% Mar-19 -0.72% -1.21% Apr-19 -1.65% -2.20% May-19 -0.48% -1.62% Jun-19 0.85% 0.43% Jul-19 0.88% 0.45% Disclaimer This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns/profit lock in thereon are dependent on forces and factors affecting the capital markets. Past performance is not necessarily indicative of future results. Capital Preservation only applies to the unit holders who hold their investments until maturity date. All returns are calculated assuming reinvested dividends. Please read the Offering Document to understand the investment policies and risks involved. Performance data does not include the cost incurred directly by an investor in the form of sales load etc. *Continued on the next page.
2. 14 Alfalah GHP Investment Management Limited Fund Managers ' Report July 2019 Alfalah GHP Islamic Prosperity Planning Fund (Alfalah Islamic Capital Preservation Plans) Fund: Not Yet Rated AMC Rating: "AM2+" by PACRA 08-Feb-19 Investment Objective The objective of the plan is to to earn a potentially high return through dynamic asset allocation between Islamic Equity Scheme and Islamic Income Scheme based Collective Investment Schemes (CIS) using CPPI methodology, while providing Capital Preservation of the Initial Investment Value at maturity of the plan based on the Fund Manager’s outlook on the assets classes. Basic Information Category: Shariah Fund of Funds Scheme - CPPI Fund Type: Open Ended Benchmark: AGIPPF - CPF4 & CPF5: Weighted average return of KMI 30 index and 6-months deposit rate of 3 (Three) A or above rated Islamic Banks/Islamic Banking Window of scheduled commercial banks as selected by MUFAP, based on actual proportion of investment in islamic equity and/ or islamic income schemes made by the allocation plan. Load: 2.50% , 0.00% (Front & Back end) Cut-off Time: 9:00 am - 4:00 pm Risk Profile: Plan specific Management Fee: 1.25%* Min. Initial Investment: PKR 10,000/Trustee: CDC Pakistan Limited Launch Date: AGIPPF - CPF4: Jul 13, 2018 AGIPPF - CPF5: Dec 14, 2018 Par Value: PKR 100/Auditor: A.F Ferguson & Co. Pakistan Dealing Days: Monday - Friday Listing: Pakistan Stock Exchange Pricing: Forward Day Leverage: Nil 83.1 Alfalah Islamic Capital Preservation Plan - 4 (Holdings as % of Total Assets) 90 June 48.8 50.1 70 50 40 14.0 30 20 1.1 1.1 - - - 1.8 10 0 Equity Funds Money Market Funds Income Funds Others Cash Leverage Alfalah Islamic Capital Preservation Plan - 5 (Holdings as % of Total Assets) 100.00 87.80 June 93.97 July 80.00 60.00 40.00 20.00 0.00 12.15 0.00 1.92 Equity Funds 0.00 0.00 Money Market Funds 0.06 Income funds 4.08 0.04 Others Cash Chief Executive Officer Chief Operating Officer Chief Investment Officer Head of Equities Head of Compliance Fund Manager Fund Manager Alfalah Islamic Capital Preservation Plan - 4 Fund Size (PkR mn); as on July 31, 2019 NAV (PkR): Multiplier Range Total Expense Ratio****** July 80 60 Investment Committee Maheen Rahman Noman Soomro Nabeel Malik Muddasir Ahmed Shaikh Shariq Mukhtar Hashmi Sana Abdullah, CFA Wahaj Ahmed Leverage Fund Performance Since Inception Return YTD Month Asset Allocation (as % of Total Assets) Equity Money Market Income Cash Others Total 152.66 101.0702 0.00-0.1 0.04% 13.62% BM 1.01% 0.41% 0.41% June 0.00% 0.00% 50.14% 1.08% 48.78% 100.00% AGCPF 4 4.82% 0.87% 0.87% July 1.79% 0.00% 83.10% 1.07% 14.04% 100.00% Alfalah Islamic Capital Preservation Plan - 5 Fund Size (PkR mn); as on July 31, 2019 NAV (PkR): Multiplier Range Total Expense Ratio****** Fund Performance Since Inception Return YTD Month Asset Allocation (as % of Total Assets) Equity Money Market Income Cash Others Total BM 1.96% 0.42% 0.42% June 0.00% 0.00% 87.80% 12.15% 0.06% 100.00% 56.35 101.0357 0.00-0.1 0.04% AGCPF 5 4.48% 0.85% 0.85% July 1.92% 0.00% 93.97% 4.08% 0.04% 100.00% Provisioning Held, if any % Gross Assets % Net Assets Details of Non-Compliant Investments Name Type Alfalah GHP Islamic Capital Preservation 4 (1 Year Jul-18 Aug-18 AICPP-4 0.23% 0.37% BM 0.13% 0.16% -Rolling Returns) Sep-18 Oct-18 0.53% 0.64% 0.06% 0.57% Value before Provisioning Nov-18 0.18% -0.16% Value after Provisioning Dec-18 -0.29% -0.79% Jan-19 1.49% 1.34% Feb-19 0.44% -0.07% Mar-19 0.13% -0.17% Apr-19 -0.28% -0.66% May-19 0.31% 0.12% Jun-19 0.12% 0.07% Jul-19 0.87% 0.41% Dec-18 0.29% 0.13% Jan-19 0.62% 0.32% Feb-19 0.70% 0.35% Mar-19 0.30% 0.07% Apr-19 0.36% 0.04% May-19 0.55% 0.27% Jun-19 0.72% 0.35% Jul-19 0.85% 0.42% Alfalah GHP Islamic Capital Preservation 5 (1 Year -Rolling Returns) AICPP-5 BM Sindh Workers' Welfare Fund (SWWF) AGIBAP The scheme has maintained provisions against Sindh Workers' Welfare Fund's liability to the tune of Rs. 5.693mn. If the same were not made the NAV per unit/last one year return of scheme would be higher by Rs. 1.7037 / 1.72%. 1 AAGIMAP The scheme has maintained provisions against Sindh Workers' Welfare Fund's liability to the tune of Rs. 5.252mn. If the same were not made the NAV per unit/last one year return of scheme would be higher by Rs. 1.7732 / 1.81%. AGIAAP2 The scheme has maintained provisions against Sindh Workers' Welfare Fund's liability to the tune of Rs. 3.057mn. If the same were not made the NAV per unit/last one year return of scheme would be higher by Rs. 0.6821 / 0.75%. AGIAAP3 The scheme has maintained provisions against Sindh Workers' Welfare Fund's liability to the tune of Rs. 0.094mn. If the same were not made the NAV per unit/last one year return of scheme would be higher by Rs. 0.0210 / 0.02%. AICPP4 The scheme has maintained provisions against Sindh Workers' Welfare Fund's liability to the tune of Rs. 0.464mn. If the same were not made the NAV per unit/last year return of the Scheme would be higher by Rs.0.3074/0.31%. AICPP5 The scheme has maintained provisions against Sindh Workers' Welfare Fund's liability to the tune of Rs. 0.065mn. If the same were not made the NAV per unit/last year return of the Scheme would be higher by Rs.0.1159/0.12%. Disclaimer This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns/profit lock in thereon are dependent on forces and factors affecting the capital markets. Past performance is not necessarily indicative of future results. Capital Preservation only applies to the unit holders who hold their investments until maturity date. All returns are calculated assuming reinvested dividends. Please read the Offering Document to understand the investment policies and risks involved. Performance data does not include the cost incurred directly by an investor in the form of sales load etc. * Not Applicable, if invested in funds managed by AGIML **BAP: This include 0.0180% representing government levy, Worker's Welfare Fund and SECP Fee ***MAP: This include 0.0025% representing government levy, Worker's Welfare Fund and SECP Fee ****AAP 2: This include 0.0159% representing government levy, Worker's Welfare Fund and SECP Fee *****AAP 3: This include 0.0206% representing government levy, Worker's Welfare Fund and SECP Fee ****** AICPP 4: This includes 0.025% representing government levy, Worker’s Welfare Fund and SECP Fee. ****** AICPP 5: This includes 0.0201% representing government levy, Worker’s Welfare Fund and SECP Fee. ******* For the first year 2.5%, for second year 1.5% ******** For the first year 2.5%, for second year 1.5% ********* Since Inception return is calculated on Compounded Annual Growth Rate (CAGR) 1 The name of plan (Alfalah GHP Islamic Active Allocation Plan) has been changed to Alfalah GHP Islamic Moderate Allocation Plan and minimum amount of investment has been amended through Sixth Supplemental Offering Document duly approved by SECP on October 02, 2018. MUFAP's Recommended Format