Alfalah GHP Islamic Value Fund Report - July 2019

Transcription

1. Alfalah GHP Investment Management Limited Fund Managers ' Report July 2019 18 Alfalah GHP Islamic Value Fund AMC Rating: "AM2+" by PACRA 8-Feb-19 Investment Objective Alfalah GHP Islamic Value Fund (AGIVF) is an Open-end Shariah Compliant Islamic Asset Allocation Fund. The objective of AGIVF is to earn a potentially high return through allocation of assets between Shari’ah Compliant Equity Instruments, Shari’ah Compliant Fixed Income Instruments and any other Shari’ah Compliant instrument as permitted by the SECP and Shari’ah Basic Information Investment Committee Category: Shariah Comp. Asset Alloc. Scheme Fund Type: Open Ended Benchmark: KMI 30 Index and Six (6) months average deposit rates of three (3) A rated Scheduled Islamic Banks or Islamic Banking windows of Conventional Banks as selected by MUFAP on the basis of actual proportion held by the scheme Launch Date: October 12, 2017 Par Value: PKR 100/Pricing: Forward Day Sales Load: 3.00% Risk Profile: Moderately High Maheen Rahman Noman Soomro Nabeel Malik Muddasir Ahmed Shaikh Shariq Mukhtar Hashmi Sana Abdullah, CFA Wahaj Ahmed Management Fee: 2% Min. Initial Investment: PKR 10,000/Min. Subseq. Investment: PKR 1,000/Trustee: CDC Pakistan Limited Auditor: AF Ferguson & Co. Pakistan Listing: Pakistan Stock Exchange Dealing Days: Monday - Friday Cut-off Time: 9:00 am - 4:00 pm Leverage: Nil Asset Allocation (as % of Total Assets) Fund Statistics +Fund Size (PkR mn; as on 31 July, 2019): Fund Size including fund of fund schemes: (Pkr mn) NAV (PkR): Sharpe Ratio* Information Ratio Standard Deviation* Total Expense Ratio** 100 June 90 July 80 - - - - - - - - - - - - - - - - - 10 - 5.5 20 5.2 28.5 48.0 26.0 30 20.0 40 20.5 50 46.3 70 60 + Amount invested by fund of funds is Rs. 0 million subtracted from total Historical Performance (%) 1.5 0.5 AGIVF BM 0 FY18 FY19 -5 -15 -11.4 -10.8 -10 Others Spread Trans. MTS CPs Sukuk PIBs TFCs/Sukuks Govt. Backed/ Gov. Guar. Rev. Repo ag. other Secs. Rev. Repo ag. GS Stocks/ Equities T-Bills Cash 0 5 Chief Executive Officer Chief Operating Officer Chief Investment Officer Head of Equities Head of Compliance Fund Manager Fund Manager 132.12 132.12 87.26 -1.41 0.63 12.99% 0.38% Fund Performance BM Since Inception -7.25% YTD -2.89% Month (July '19): -2.89% Asset Allocation (Sector Wise as a % of Total Assets) Oil & Gas Exploration Companies Fertilizer Power Generation & Distribution Oil & Gas Marketing Companies Commercial Banks Others Total Top 10 Holdings (% of Total Assets) International Brands Limited-Sukuk (28-Sep-17) Dawood Hercules Corporation Ltd -Sukuk (16-Nov-17) Oil & Gas Dev.Co Pak Petroleum Ltd. Engro Corporation Limited Hub Power Company Limited Engro Fertilizer Limited Pakistan Oilfields Ltd. Mari Petroleum Company Limited Meezan Bank Ltd. AGIVF -7.16% -2.47% -2.47% 17.26% 11.01% 4.92% 3.39% 2.54% 7.18% 46.30% 14.54% 12.75% 6.06% 5.15% 4.96% 3.99% 3.82% 3.21% 2.84% 2.54% Details of Non-Compliant Investments*** Type Value before Provisioning Provisioning Held, if any Value after Provisioning 1- Year Rolling Returns Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 AGIVF 1.27% -0.87% -0.55% 1.05% -2.62% -5.24% 5.76% -1.39% BM 1.12% -1.21% -1.27% 1.82% -2.33% -5.37% 6.17% -1.96% Sindh Workers' Welfare Fund (SWWF) The scheme has maintained provisions against Sindh Workers' Welfare Fund's liability to the tune of Rs. 0.0049mn. If Scheme would be higher by Rs.0.0033 / 0.0033%. Mar-19 -1.31% -1.52% % Gross Assets Apr-19 -2.90% -3.24% May-19 -0.69% -0.57% % Net Assets Jun-19 -3.46% -3.21% Jul-19 -2.47% -2.89% the same were not made the NAV per unit/return of the 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. Past performance is not necessarily indicative of future results. Please read the Offering Document to understand the investment policies and risks involved. All returns are calculated assuming reinvested dividends.Performance data does not include the cost incurred directly by an investor in the form of sales load etc. * Calculated on 12-month trailing data. ** This include 0.0499% representing government levy, Worker’s Welfare Fund and SECP Fee. Selling & marketing expenses - for the period ended July,2019, PKR Mn 0.046 MUFAP's Recommended Format