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JS Islamic Dedicated Equity Fund Report - October 2019

IM Insights
By IM Insights
4 years ago
JS Islamic Dedicated Equity Fund Report - October 2019

Shariah, Shariah compliant, Net Assets, Receivables


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  1. JS Islamic Dedicated Equity Fund (JS IDEF) October 2019 MUFAP Recommended Format Investment philosophy Performance (%) The objective of JS Islamic Dedicated Equity Fund (JSIDEF) is to provide other ‘Fund of Funds’ schemes a Shariah compliant avenue for taking exposure in Shariah Compliant Equities. Key information Fund type Category Fund launch date Net Assets (PKR mn) Net Assets Excluding JSIL FoFs (PKR mn) NAV (PKR) Benchmark Management fee Front-end Load Back-end Load Pricing mechanism Trustee Dealing Days & Cut-off time Auditor Shariah advisor Risk profile Listing Leverage Management Quality Rating Investment Committee Members Mr. Hasnain Raza Nensey - CEO Mr. Zahid Ullah Khan - CIO Mr. Khawar Iqbal - Director Finance Mr. Khurram M. Arif, CFA - Fund Manager Mr. Syed Ali Turab Alvi - CSO Open end Shariah Compliant - Equity Scheme 21 March, 2018 134.77 0.00 73.64 KMI-30 Index 2.00% (Exclusive of SST) 3.00% NIL Forward Central Depository Company of Pakistan Ltd. (Monday to Friday) 4:00 p.m. KPMG Taseer Hadi & Co. M/s. Al Hilal Shariah Advisors (Pvt) Limited High PSX NIL AM2 by JCR-VIS Fund Benchmark Difference 1M 1Y 2.52 -26.76 9.17 -22.16 -6.65 -4.60 3Y n/a n/a n/a 5Y Launch n/a -26.36 n/a -25.75 n/a -0.61 Avg. Ann.* -17.27 -16.85 -0.42 * Average Annualized Return since inception as per Morning Star formula NAV to NAV return with dividend reinvestment. Monthly performance (%) July August September October November December January February March April May June YTD Benchmark Difference FY20 -2.83 -5.84 8.21 2.52 1.50 3.18 -1.68 FY19 2.00 0.08 -0.71 1.36 -5.11 -8.96 7.82 -2.80 -4.79 -5.90 -4.08 -7.26 -25.87 -23.84 -2.03 FY18 n/a n/a n/a n/a n/a n/a n/a n/a 0.58 0.37 -2.12 -0.95 -2.13 -5.52 3.39 FY17 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a FY16 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Performance data does not include the cost incurred directly by an investor in the form of sales load etc. NAV to NAV return with dividend reinvestment. Asset Allocation (% age of total assets) Oct-19 Cash 5.79 Equity 77.95 Other including receivables 16.25 Total 100.00 Amount invested by fund of funds is PKR. 134.96 mn Since Inception Return on PKR 100 Inv ested in JS Islamic Dedicated Equity Fund Vs Benchmark JSIDEF BM JSIDEF 150 100 Sep-19 14.73 69.13 16.14 100.00 Sector Allocation - Equity (%age of total assets) 50 Equity Oct-19 Aug-19 Sep-19 Jul-19 Jun-19 Apr-19 May-19 Mar-19 Jan-19 Feb-19 Nov-18 Cash Dec-18 Oct-18 Aug-18 Sep-18 Jul-18 Jun-18 May-18 Apr-18 Mar-18 - Other including receivables Engro Corporation Ltd. The Hub Power Co. Ltd. Engro Fertilizers Ltd. Pakistan Petroleum Ltd. Oil & Gas Development Co. Ltd. Fauji Fertilizer Co. Ltd. Meezan Bank Ltd. Pakistan Oilfields Ltd. Nishat Mills Ltd. Searle Company Ltd. 80 60 40 20 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 27.15 23.98 9.66 6.70 5.26 5.20 77.95 Sep-19 7.66 32.45 2.13 11.84 0.00 15.04 69.13 Top holding - Equity (%age of total assets) 100 May-19 Fertilizer Oil & Gas Exploration Companies Power Generation & Distribution Commercial Banks Textile Composite Others Total Oct-19 9.95 9.66 8.79 8.73 8.62 8.40 6.70 6.64 5.26 2.70 Statistical analysis Information Ratio Correlation Standard Deviation* Expense Ratio** Fund (0.11) 0.96 15.3% 1.95% Beta Largest Month Gain Largest Month Loss % Positive Months Fund 0.7 8.2% -9.0% 42.9% BM 1.0 11.6% -10.6% 38.1% * Since inception ** This includes 0.24% government levy, Sindh Worker’s Welfare Fund and SECP fee. Selling & Marketing Expense PKR 76,288. Disclosure for Sindh Workers' Welfare Fund (SWWF) The scheme has maintained provisions against Sindh Workers' Welfare Fund's liability to the tune of Rs. 0/-. If the same were not made the NAV per unit/return of scheme would be higher by Re. 0.00/0.00%. For details investors are advised to read the Note 11.1 of the latest Financial Statements of the Scheme. Cumulative returns are based as per MUFAP stated methodology. 20