Pakistan: NAFA Islamic Principal Preservation Fund Report - April 2017

Transcription

1. Capital MarketsPrincipal Review Preservation Fund (NIPPF) NAFA Islamic April 2017 Unit Price (28/04/2017): Rs.102.1362 % Performance Period NAFA Islamic Principal Preservation Fund (NIPPF) FYTD 2017 Rolling 12 Months May 16-Apr 17 FY 2016 Since Launch January 09, 2015* 0.6% 15.0% 17.1% 4.0% 10.4% 0.8% 12.6% 16.3% 3.6% 9.0% The performance reported is net of management fee & all other expenses and based on dividend reinvestment gross of with-holding tax where applicable. January 9, 2015 Rs. 420 million Open End Shariah Compliant Fund of Funds Daily – Monday to Friday (Mon - Thr) 9:00 A.M to 4:30 P.M (Friday) 9:00 A.M to 5:00 P.M 2-3 business days Forward Pricing 1% in year 1, 0.5% in year 2 and no load beyond 2 years 1) On invested amount in NAFA fund, no additional fee. 2) Cash in Bank account: 12% of Net Income (Min 0.5% p.a., Max 1.0% p.a.) 1.81% p.a (including 0.71% government levies) Pakistan Stock Exchange Low Central Depository Company (CDC) A. F. Ferguson & Co. Chartered Accountants Combination of benchmarks of underlying schemes on the basis of actual investment i.e.NISF: KMI-30 Index NIAAF: Daily weighted return of KMI-30 Index & 6-month average deposit rates of three A rated Islamic Banks/Islamic windows of conventional banks as selected by MUFAP Cash: 6-month average deposit rates of three A rated Islamic Banks/Islamic windows of conventional banks as selected by MUFAP Sajjad Anwar, CFA AM1 by PACRA (Very High Quality) Settlement: Pricing Mechanism: Back end Load: Management Fee: Total Expense Ratio (%) Listing: Risk Profile: Custodian & Trustee: Auditors: Benchmark:** Fund Manager: Asset Manager Rating: The objective of NAFA Islamic Principal Preservation Fund is to earn a potentially high return through dynamic asset allocation between Shariah compliant equity related, and Shariah compliant income/ money market Collective Investment Schemes, while providing principal preservation. ‘ Since inception, NIPPF has generated a return of 10.4% p.a versus 9% p.a return of the Benchmark. The current exposure in equity/asset allocation funds stands at 13.2%. During the month,multiplier remained at 0.5. In line with directive no 18 of 2016, effective from 01st January 2017, the equity exposure of the Fund is capped at 10%. Consequently, going forward, your Fund may not be able to offer attractive returns due to very low exposure in the stock market. 80.0% Relative Performance of NAFA Islamic Principal Preservation Fund (NIPPF) Since Inception on January 9, 2015 Cumulative Annualized Return Annualized STDEV (Risk) NIPPF KMI-30 10.4% 4.9% Return Islamic Bank Deposit 23.0% 15.4% 3.0% 0.03% KMI-30, 61.1% 60.0% 40.0% NIPPF, 25.6% 20.0% ** effective from September 01, 2016; Previously daily weighted return of KMI-30 index & Islamic Bank Deposits based on Fund's actual allocation. NIAAF NISF KMI-30 PER 10.8 9.9 12.2 PBV 4.5 4.3 2.8 DY 3.6% 3.2% 3.9% Top Holdings (%age of total assets) (as on 28 Apr, 2017) NAFA Islamic Asset Allocation Fund NAFA Islamic Stock Fund Total 3-Mar-17 6-Jan-17 11-Nov-16 22-Jul-16 16-Sep-16 1-Apr-16 27-May-16 5-Feb-16 11-Dec-15 16-Oct-15 -20.0% 21-Aug-15 10.4% 2.9% 84.3% 2.4% 100.0% Nil 1-May-15 10.5% 2.7% 86.0% 0.8% 100.0% Nil 0.0% 26-Jun-15 Islamic Asset Allocation Fund Islamic Stock Fund Cash Others including receivables Total Leverage 31-Mar-17 9-Jan-15 28-Apr-17 6-Mar-15 Asset Allocation (% of Total Assets) Islamic Bank Deposit 7.0% 28-Apr-17 * Annualized Return All Other returns are Cumulative Launch Date: Fund Size: Type: Dealing Days: Dealing Time: Apr 2017 Dr. Amjad Waheed, CFA Sajjad Anwar, CFA Taha Khan Javed, CFA Hassan Raza, CFA Muhammad Ali Bhabha, CFA, FRM 10.5% 2.7% 13.2% Sindh Workers' Welfare Fund (SWWF) The scheme has maintained provision against Sindh Workers’ Welfare Fund’s liability to the tune of Rs3,947,179/-If the same were not made the NAV per unit/ last one year return of scheme would be higher by Rs 0.9600/1.10%. For details investors are advised to read the Note 6 of the Financial Statements of the Scheme for the period ended March 31, 2017. Notes: 1) The calculation of performance does not include cost of front end load. 2) Taxes apply. Further, tax credit also available as per section 62 of the Income Tax Ordinance, 2001. 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 Documents to understand the investment policies and the risk involved. Principal Preservation only applies to unit holders who hold their investments until initial maturity of two years.