JS Islamic Hybrid Fund of Funds Report - July 2019

Transcription

1. SHARIAH COMPLIANT FUND OF FUNDS SCHEME JS Islamic Hybrid Fund of Funds (JS IHFoF) July 2019 MUFAP Recommended Format Investment philosophy Performance (%) JS Islamic Hybrid Fund of Funds aims to generate need based returns for its clients by offering several Allocation Baskets/Plans with varying mix of exposures to low / high risk asset classes via underlying mutual funds. Investment Objectives of the Allocation Baskets/Plans initially offered under JSIHFOF are Mustanad, Mustahkem, Mutanasib, Mufeed & Munafa. 1M JSIHFOF - Mustanad * -63.07 Benchmark * 2.95 JSIHFOF - Mustahkem -0.69 Benchmark 0.35 JSIHFOF - Mutanasib 0.80 Benchmark 0.44 JSIHFOF - Munafa -4.21 Benchmark -6.17 JSIHFOF - Mufeed -2.37 Benchmark -4.20 * Annualized returns NAV to NAV return with dividend reinvestment. Key information Fund type Category Fund launch date Benchmark Management fee Open end Shariah Compliant Fund of Funds 7 June, 2017 BM IHFOF* Nil (Up to 1% M.Fee p.a. applicable on investments made in CIS not managed by JSIL Front-end Load Mustanad 0% | Mustehkam 0.5% | Mutanasib Up to 3% | Mufeed Up to 3% | Munafa Up to 3% of NAV (SST rate applicable) NIL Forward MCB Financial Services Ltd. (Monday to Friday) 4:00 p.m. KPMG Taseer Hadi & Co. Low-Moderate-High (as per allocation basket/plan) PSX NIL AM2 by JCR-VIS Back-end Load Pricing mechanism Trustee Dealing Days & Cut-off time Auditor 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. Syed Ali Turab Alvi - CSO Mr. Khurram M. Arif, CFA - Fund Manager NAV (PKR) 98.95 96.37 82.14 63.00 71.14 JSIHFOF - Mustanad JSIHFOF - Mustahkem JSIHFOF - Mutanasib JSIHFOF - Munafa JSIHFOF - Mufeed Net Assets (PKR mn) 0.20 0.80 13.67 2.31 30.11 1Y 13.74 3.56 7.06 3.00 1.24 3.35 -22.49 -27.71 -12.93 -15.51 2Y n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 5Y n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Launch 10.16 2.78 5.22 2.01 -16.47 -8.14 -37.00 -35.65 -28.86 -24.26 Monthly performance (%) Mustanad* Mustahkem Mutanasib Munafa Mufeed FY20 FY19 FY20 FY19 FY20 FY19 FY20 FY19 -63.07 4.81 -0.69 1.59 0.80 1.30 -4.21 1.71 5.25 0.28 0.12 -0.11 6.11 0.36 0.30 -0.41 9.05 0.96 0.74 1.13 7.19 -0.03 -0.95 -4.75 8.59 -1.74 -5.24 -7.93 6.87 1.95 5.51 7.04 5.85 0.07 -0.57 -2.64 9.86 1.73 -0.83 -4.05 6.85 -1.39 -1.29 -5.51 -40.10 0.59 2.00 1.87 216.78 4.93 0.96 -4.71 -63.07 20.67 -0.69 9.52 0.80 1.74 -4.21 -17.69 2.95 3.50 0.35 4.45 0.44 4.55 -6.17 -21.61 -66.02 17.17 -1.04 5.07 0.36 -2.81 1.96 3.92 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun YTD BM Diff. * Annualized returns FY20 -2.37 FY19 1.77 0.12 0.11 1.04 -3.02 -6.61 6.34 -1.66 -2.73 -3.45 2.35 -3.27 -2.37 -9.23 -4.20 -10.31 1.83 1.08 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) Islamic Hybrid Fund of Fund Allocation 100 80 60 40 20 Mustehkam Cash Munafa Mustanad Investment in Mutual Funds Mutansib Mufeed Other including receivables Expense ratio Cash Open End Funds Other Total Mustanad Jul-19 Jun-19 3.16 2.89 11.95 12.78 84.89 84.33 100.00 100.00 Top holding (%age of total assets) JS Islamic Hybrid Fund Of Funds-Mustanad** JS Islamic Hybrid Fund Of Funds-Mustahkem JS Islamic Hybrid Fund Of Funds-Mutanasib JS Islamic Hybrid Fund Of Funds-Munafa JS Islamic Hybrid Fund Of Funds-Mufeed ** Ratios are annualized *Included in Expense Ratio Disclosure for Sindh Workers' Welfare Fund (SWWF) The scheme has maintained provisions against Sindh Workers' Welfare Fund's liability to the tune of Rs. 190,419/-. If the same were not made the NAV per unit/return of scheme would be higher by Re. 0.00/0.00% (Mufeed), Re. 0.00/0.00% (Munafa), Re. 1.48/1.53% (Mustahkem), Rs. 85.60/86.51% (Mustanad) & Re. 0.05/0.06% (Mutanasib). For details investors are advised to read the Note 10.1 of the latest Financial Statements of the Scheme. Mutanasib Jul-19 Jun-19 0.95 0.92 95.16 95.16 3.89 3.92 100.00 100.00 Munafa Mufeed Jul-19 Jun-19 Jul-19 Jun-19 2.80 8.22 9.27 10.23 Cash 79.77 75.02 88.95 88.03 Open End Funds 17.42 16.75 1.79 1.73 Other 100.00 100.00 100.00 100.00 Total Amount invested by fund of funds is PKR. 0 mn Expense Government levy, Sindh Ratio Worker’s Welfare Fund and SECP fee* 73.40% 0.31% 1.45% 0.01% 0.17% 0.02% 0.52% 0.03% 0.11% 0.01% BM IHFOF* Weighted average daily return of KMI 30 index, six (6)/ three (3) month average deposit rates of three (3) 'A' rated scheduled Islamic Banks or Islamic Banking windows of scheduled Commercial Banks, as selected by MUFAP based on actual proportion of the Equity Portion consisting of Shariah Compliant Equity Funds, Income Portion consisting of Shariah Compliant Income and Money Market Funds, and any Cash or Near cash instruments in each of the Allocation Baskets". Mustahkem Jul-19 Jun-19 1.77 2.10 46.00 45.25 52.24 52.64 100.00 100.00 JSIHFOF - Mustanad JS Islamic Income Fund 11.95 JSIHFOF - Mustahkem JS Islamic Income Fund 46.00 JSIHFOF - Mutanasib JS Islamic Income Fund 95.16 JSIHFOF - Munafa JS Islamic Dedicated Equity Fund 79.77 JSIHFOF - Mufeed JS Islamic Dedicated Equity Fund JS Islamic Income Fund 71.03 17.92 18