Atlas Islamic Stock Fund Report - July 2019

Transcription

1. Atlas Islamic Stock Fund (AISF) July 2019 Investment Objective Fund Facts To provide long term capital growth from an actively managed portfolio invested in Shariah compliant listed companies in Pakistan. Asset Mix* Equities Jul-19 95.4% Jun-19 83.5% Cash 4.0% 10.8% Others incl. receivables 0.6% 5.7% Leverage Profile Leverage: AISF Nil Fund Type Category Launch Date Net Assets (mn) NAV Total Expense Ratio Govt Levy Benchmark Dealing Days Cut Off timings Pricing mechanism Management Fee Front End Load Trustee Registrar Auditor Asset Manager Rating Shariah Advisor Risk Profile of the Fund: * % of Gross Asset Payout History Yearly Performance 21.37% 20.1% 33.82% 35% 29.25% 30% 20% (% on Opening NAV) 40% 40% 15.53% 25% 10% Current level of Management Fee is 2% of Average Annual Net Assets Upto 2% * Central Depository Company Ltd. ITMinds Limited EY Ford Rhodes (As on 28-Jun-2019) AM2+(PACRA) Dr. Mufti Muhammad Wasie Fasih Butt High AM2+(PA 20% 0% -10% -20% 15% -5.86% -6.56% -7.88% -9.59% 12.05% 12.23% 10% -18.95% 7.41% 2016 2017 RETURN 2018 2019 YTD Federal Excise Duty (FED) 0% 2013 BENCHMARK 2014 2015 2017 *Funds returns computed on NAV to NAV with the dividend reinvestment,if any. Sector Allocation % of Total Assets Sector Jul-19 Top 10 Holdings % of Total Assets Jun-19 Scrip 27.6 % Sectors Oil & Gas Exploration 32.2 Fertilizer 16.4 13.6 Oil & Gas Development Co. Ltd 12.2 Oil & Gas Exploration Commercial Banks 13.0 10.2 Meezan Bank Limited Commercial Banks 8.8 7.6 10.7 Cement Engro Corporation Limited Fertilizer Power Generation & Distribution 8.6 8.3 10.0 Pakistan Petroleum Limited Oil & Gas Exploration Oil & Gas Marketing 7.5 6.5 8.0 Hub Power Company Limited Power Gen & Dist Textile Composite 2.6 2.8 7.7 Engro Fertilizers Limited Fertilizer Pharmaceuticals 2.1 2.1 6.4 Pakistan Oilfields Limited 6.4 Oil & Gas Exploration Inv. Bank/Inv. Companies/Securities Co. 2.0 1.6 Lucky Cement Limited Cement 1.7 1.6 6.0 Engineering Mari Petroleum Co. Ltd Oil & Gas Exploration Chemicals 0.5 0.0 - 0.0 0.0 1.5 0.1 5.6 Pakistan State Oil Co. Ltd 4.8 Oil & Gas Marketing Foods & Personal Care Technology & Communications Paper & Board Trailing Performance Returns* Benchmark 30 Days (1 Month) -5.86% -6.56% (As The management company, as a matter of prudence and as recommended by MUFAP, made provision in respect of SWWF with effect from the date of enactment of the SWWF Act, 2014 (i.e. starting from 21 May 2015) on 12 January 2017. Accordingly, the provision for SWWF is being made on a daily basis going forward. Up till July 31, 2019, a sum of Rs. 15,491,187 (Rs. 5.51 per unit) has been provided for SWWF. 5% -23.8% 2015 KMI - 30 Index Monday to Friday 9:00 am to 4:00 pm Forward Pricing Sindh Workers' Welfare Fund (SWWF) 5.73% -30% 2.77% - annualized (Incl Govt Levy) 0.32% rep Gov levy, WWF & SECP Fee * On amount less than or equal to Rs.25 Mn. However, in case where transaction are done online or through a website, the maximum front-end load will be up to 1.5%. 30% 18.8% Open-ended Islamic Equity Scheme Jan-2007 PKR 1,138 (at month end) PKR 404.68 (at month end) 90 Days -13.58% -14.07% 180 Days -23.40% -26.28% 365 Days (1 Year) -24.98% -30.10% YTD -5.86% -6.56% 3 Years *** 5 Years *** -3.50% -18.20% 23.84% 13.49% Since Inception 292.94% N/A The Finance Act, 2013 imposed Federal Excise Duty (FED) on financial services to include Asset Management Companies (AMC’s) with effect from 13th June, 2013. On September 04, 2013 a constitutional petition has been filed in Sindh High Court (SHC) jointly by various AMC`s, challenging the levy of FED. In a separate petition the Honorable Sindh High Court declared that the FED was unconstitutional and cannot be charged where provinces are collecting sales tax. The Federation has filed an appeal in the Honorable Supreme Court of Pakistan Further, via Finance Act 2016, the FED has been withdrawn from July 1, 2016. In the meantime, as a matter of abundant caution, the Scheme has held provision for FED liability which amounted to Rs.10,453,385 up till June 30, 2016. (Rs.3.72 per unit as on July 31, 2019) For Shariah Compliant Investment Plans please refer to AIIF on prepage. CAGR ** 11.52% N/A *Actual Returns - Not Annualized ** CAGR Since Inception *** 3Y and 5Y returns are till FY19 Monthly Performance History Year 2019-20 2018-19 Jul -5.86% 1.70% Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun -0.58% -1.03% 4.69% -3.91% -9.72% 8.90% -2.03% -2.27% -6.21% -2.12% -6.83% Note: Performance data does not include the cost incurred directly by an investor in the form of sales load etc. MUFAP's Recommended Format Investment Committee M. Abdul Samad Chief Executive Officer Ali H. Shirazi Director Khalid Mahmood Chief Investment Officer Muhammad Umar Khan Head of Portfolio Management Fawad Javaid Head of Fixed Income Faran Ul Haq Head of Equities Disclaimer: 7 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 fund are subject to market risks. Past performance is not necessarily indicative of the future results. Please read the Offering Document to understand the investment policies and the risks involved. YTD -5.86% -18.95%