Académique Documents
Professionnel Documents
Culture Documents
Outlook
The development work under CPEC is being carried out with full focus on timely completions while the law and order situation in the
country has also improved considerably. The governments focus on revival of industries by mitigating the energy crisis currently
appears to be getting top priority from the relevant quarters and this could set the tone for a new round of healthier corporate
earnings. The stock markets rise reflects on the consistently improving macroeconomic fundamentals of Pakistan as well as the
potential/expectation of further improvement. While some political concerns may persist in the near term, equities are expected to
stay strong and performing in the long run. It is pertinent to note that the target we had highlighted for KMI-30 to reach 70,000 pts
already stands achieved and we are of the view that the market still has the potential to provide another 10%-15% return. Alongside,
in commodities, we expect Gold to rally over the coming years so we believe our valued investors should build up a long-term position
in the precious commodity too in order to take advantage of this potential upside.
Investors with relevant risk profiles and investment horizons are advised to go through our Fund Manager Report hereunder for a
detailed performance review of our mutual funds. Investment in Meezan Gold Fund and recently launched Meezan Asset Allocation
Fund are strongly advised.
Sr.
No.
Funds Category
Funds Category
Symbol
Islamic Equity
AMMF
Islamic Equity
MIF
Islamic Index
Tracker
KMIF
Islamic Balanced
MBF
Islamic Asset
Allocation
MAAF
Islamic Income
MIIF
Islamic Income
MSF
Islamic Money
Market
Islamic Commodity
Islamic Fund of
Funds Scheme
10
Fund
size
(Rs. in
million)
FY17TD (%)
Since Inception
CAGR(%)
Fund
Benchmark
Fund
Benchmark
5,955
13-Jul-95
7.2
6.0
17.0
16.4
34,448
8-Aug-03
7.6
6.0
22.0
18.8
932
23-May-12
5.8
6.0
25.5
28.9
5,038
20-Dec-04
4.6
3.1
16.7
13.9
564
18-Apr-16
4.0
3.6
10,386
15-Jan-07
6.5
3.1
14.6
5.4
8,925
10-Feb-10
7.3
4.2
11.1
6.8
MCF
3,393
15-Jun-09
4.9
4.2
11.0
6.8
MGF
379
13-Aug-15
1.3
0.7
MCPRF-II
1,286
28-Jun-14
5.6
4.2
13.2
10.7
11
Islamic Fund of
Funds Scheme
MPFP - AGG
461
11-Apr-13
5.5
4.0
20.5
19.4
Islamic Fund of
Funds Scheme
MPFP - MOD
388
11-Apr-13
4.1
3.2
16.2
16.5
Islamic Fund of
Funds Scheme
MPFP - CON
338
11-Apr-13
2.3
1.5
11.4
10.2
Islamic Fund of
Funds Scheme
MPFP - MCPP-I
1,658
1-Sep-14
5.2
3.8
12.5
11.1
Islamic Fund of
Funds Scheme
MPFP - MCPP-II
3,106
16-Dec-14
3.3
2.4
6.4
6.2
Islamic Fund of
Funds Scheme
MPFP - MAAP-I
1,354
10-Jul-15
6.2
5.3
17.5
19.7
Islamic Fund of
Funds Scheme
MPFP - MAAP-II
981
24-Nov-15
6.1
5.1
Islamic Fund of
Funds Scheme
MPFP - MAAP-III
3,022
26-Jan-16
6.2
5.2
Islamic Fund of
Funds Scheme
MPFP - MAAP-IV
922
23-May-16
4.6
3.8
12
Islamic Voluntary
Pension Scheme
MTPF-EQT
4,423
28-Jun-07
6.9
20.0
MTPF-DEBT
2,001
28-Jun-07
6.6
11.6
MTPF-MMKT
454
28-Jun-07
4.2
11.4
July, 2016
In line with the market expectations, the State Bank of Pakistan (SBP)
in its recent Monetary Policy Statement (MPS) on July 30, 2016 has
maintained the status quo while keeping the Discount Rate (DR)
unchanged at 6.25% (policy rate at 5.75%) in light of expectation of
low inflation, growth in LSM, positive balance of payments, rising
private sector credit off-take, expectations of higher foreign
investment and improving export conditions. The Inflation for July,
2016 clocked in at 4.12% as compared to 3.19% in June 2016 and
1.87% in July 2015.
6 Month KIBOR
On the forex front, the rupee in interbank market closed Rs. 0.01
weaker at Rs. 104.85/$ while in the open market, it closed Rs. 0.80
weaker at Rs. 105.90/$ during the month.
Index (RHS)
300
40,000
39,200
200
6.80
6.60
6.40
38,400
6.20
100
31-Jul
28-Jul
25-Jul
22-Jul
19-Jul
16-Jul
13-Jul
10-Jul
7-Jul
5.80
4-Jul
29-Jul
26-Jul
21-Jul
18-Jul
13-Jul
36,800
4-Jul
6.00
1-Jul
37,600
Disclaimer
This publication is for informational purpose 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 risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These
may go up or down based on market conditions. Past performance is not necessarily indicative of future results.
July, 2016
Fund Review:
Net assets of Meezan Islamic Fund stood at Rs. 34.45 billion as on July 29, 2016. The funds NAV increased by 7.6% during the month of July as
compared to 5.9% increased in benchmark index (KMI-30) while KSE-100 Index during the same period increased by 4.6%. As on July 29, the
fund was 94% invested in equities.
Investment Objective:
MIF
Funds
Details
Fund
Details:
Benchmark#
Jun '16
32,554
66.21
Jul '16
34,448
71.24
MoM %
5.8%
7.6%
Asset Allocation:
Jun '16
27%
6%
16%
30%
FYTD
1Yr
3Yr
5Yr
PSD*
CAGR*
8%
21%
82%
255%
1228%
22%
6%
20%
72%
231%
839%
19%
# KMI-30 replaced DJIIMPK as the Funds benchmark from July 01, 2009, while KSE-100 index
remained as the benchmark till June 30, 2006
Annual Returns:
FY16
FY15
FY14
FY13
FY12
FY11
FY10
FY09
MIF
17%
22%
29%
51%
19%
39%
31%
-30%
Benchmark
16%
20%
30%
54%
14%
44%
37%
-35%
Funds Performance:
1,400
MIF
1,200
Benchmark
1,000
800
600
400
200
Jul-16
Sep-15
Oct-14
Dec-13
Feb-13
Mar-12
May-11
Jul-10
Aug-09
Oct-08
Nov-07
15%
Jan-07
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
8%
Mar-06
Members of
Investment Committee
6M
Apr-05
Registrar
Unit Types
Management Fee
Front End Load
Fund Category
Back End Load
Benchmark
Leverage
Listing
AMC Rating
Rating Agency
Pricing Mechanism
Valuation Days
Subscription/ Redemption Days
Fund Manager
3M
Jun-04
Auditors
Open End
High
8th Aug 2003
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
A, B and C
2%
2%
Equity
Nil
KMI-30
Nil
KSE
AM2++
JCRVIS
Forward
Mon-Fri
Mon-Fri 9am 4pm
Muhammad Asad
1M
Aug-03
Fund Type:
Risk Level
Launch Date
Trustee
9%
9%
8%
5%
4%
3%
Jul '16
Engro Corporation
7%
3%
90.25
94.45
6%
3%
Cash (%)
9.57
5.18
0.18
0.37
Equity (%)
Expense Ratio
Sector Allocation:
0.22%
P/E
24%
10.1
Sharpe Ratio
Cement
11%
9%
EQUITY
MIF
KSE-100
Index
KMI-30
Index
14.79
13.37
15.57
1.12
0.45
0.96
Fertilizer
14%
33%
9%
WWF Disclosure: The Board of Directors of the management company in its meeting held on October 25, 2013 have resolved that unrecorded accumulated WWF provision in the fund
from the date of its application till December 31, 2012, in case is required to be paid, shall be borne by Al Meezan Investment Management Limited (Management Company of the fund).
Thus, the Fund is no longer liable to pay any expense under WWF until December 31, 2012.
adf
The Fund has maintained provisions against Workers Welfare Fund liability of Rs. 184.61 million till June 30, 2015, if the same was not made the NAV per unit/return of the fund would have
been higher by Rs. 0.38/0.54%. Effective from July 1, 2015 no provision is being made as mutual funds have been excluded from levy of WWF vide Finance Act 2015.
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
July, 2016
Fund Review:
The net assets of Al Meezan Mutual Fund (AMMF) as at July 29, 2016 stood at Rs. 5.96 billion. The funds NAV increased by 7.2% during the
month of July as compared to 5.9% increased in benchmark index (KMI-30) while KSE-100 Index during the same period increased by 4.6%. As
on July 29, the fund was 95% invested in equities.
Investment Objective:
3M
6M
1Yr
3Yr
5Yr
PSD*
7%
15%
27%
7%
19%
79%
248%
2,649%
17%
Benchmark#
6%
16%
30%
6%
20%
72%
231%
2,340%
16%
FYTD
Jul '16
5,955
19.29
Jun '16
Jul '16
93.86
94.76
Cash (%)
4.88
4.92
1.27
0.32
MoM %
9.9%
7.2%
Asset Allocation:
Expense Ratio
FY15
FY14
FY13
FY12
FY11
FY10
FY09
AMMF
16%
22%
30%
51%
19%
38%
31%
-32%
Benchmark
16%
20%
30%
54%
14%
44%
37%
-35%
2,749,263
2,500,000
2,000,000
1,500,000
1,172,192
968,549
1,000,000
500,000
Conversion from
close end fund to
open end fund
100,000
8%
8%
8%
7%
5%
Jul 16
Mar 16
Jul 15
Nov 15
Mar 15
Nov 14
Jul 14
Mar 14
Jul 13
5%
5%
3%
3%
3%
Sector Allocation:
24%
Cement
12%
10.1
Fertilizer
Sharpe Ratio
Nov 13
0.23%
P/E
Mar 13
Jul 12
Nov 12
Mar 12
Nov 11
487,122
122,800
Jul 11
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
FY16
June 08
Members of
Investment Committee
Annual Returns:
June 00
Registrar
Unit Types
Management Fee
Front End Load
Fund Category
Back End Load
Benchmark
Leverage
Listing
AMC Rating
Rating Agency
Pricing Mechanism
Valuation Days
Subscription/ Redemption Days
Fund Manager
CAGR*
# KMI-30 replaced DJIIMPK as the Funds benchmark from July 01, 2009, while KSE-100 index
remained as the benchmark till June 30, 2006.
June 04
Auditors
Open End
High
13th Jul 1995
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
A, B,C and D
2%
2%
Equity
Contingent Load
KMI-30
Nil
ISE
AM2++
JCRVIS
Forward
Mon-Fri
Mon-Fri 9am 4pm
Ahmed Hassan, CFA
July 95
Fund Type:
Risk Level
Launch Date
Trustee
Equity (%)
1M
AMMF
Fund
Details:
Funds
Details
EQUITY
AMMF
KSE-100
Index
KMI-30
Index
14.75
13.37
15.57
1.00
0.45
0.96
15%
30%
8%
WWF Disclosure The Board of Directors of the management company in its meeting held on October 25, 2013 have resolved that unrecorded accumulated WWF provision in the fund
from the date of its application till December 31, 2012, in case is required to be paid, shall be borne by Al Meezan Investment Management Limited (Management Company of the fund). Thus,
the Fund is no longer liable to pay any expense under WWF until December 31, 2012.
The Fund has maintained provisions against Workers Welfare Fund liability of Rs. 34.83 million till June 30, 2015, if the same was not made the NAV per unit/return of the fund would have
been higher by Rs. 0.11/0.58%. Effective from July 1, 2015 no provision is being made as mutual funds have been excluded from levy of WWF vide Finance Act 2015.
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
July, 2016
Fund Review
Net assets of Meezan Islamic Income Fund (MIIF) stood at Rs. 10.39 billion as on July 29, 2016. MIIF has provided an annualized return of
6.47% for the month of July as compared to its benchmark which has provided an annualized return of 3.05% during the same period.
Investment Objective:
To provide investors with a high and stable rate of
current income consistent with long term preservation
of capital in a Shar iah compliant way. A secondary
objective is to take advantage of opportunities to
realize capital appreciation.
Fund Details:
FundFunds
Type: Details
Open End
Minimal
15-Jan-07
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
A, B and C
1.5%
0.5%
Income
Nil
KSE
AM2++
JCRVIS
A- (f)
Forward
Risk Level
Launch Date
Trustee
Auditors
Registrar
Unit Types
Management Fee
Front End Load
Fund Category
Leverage
Listing
AMC Rating
Rating Agency
Fund Stability Rating
Pricing Mechanism
Weighted average time to
maturity
Back End Load
1.35 Years
Benchmark
MoM %
10,386
51.54
0.17%
14.74%
0.51%
3Yr
5Yr
PSD*
5.62%
9.23%
11.37%
14.59%
Benchmark
3.05%
3.10%
3.16%
3.05%
3.40%
4.57%
5.06%
5.43%
Annual Returns:
FY16
FY15
FY14
FY13
FY12
FY11
FY10
FY09
MIIF
5.76%
8.15%
11.90%
14.45%
7.79%
11.77%
7.31%
10.14%
Benchmark
3.49%
5.04%
5.38%
5.54%
6.02%
5.88%
5.80%
6.12%
Monthly Performance:
10%
8%
MIIF
Benchmark
6%
4%
2%
0%
Jul-16
Jul '16
9,051
51.28
1Yr
6.47%
Jun-16
Jun '16
FYTD
4.72%
May-16
6M
4.38%
Apr-16
3M
6.47%
Mar-16
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
1M
MIIF
Feb-16
Members of
Investment Committee
Jan-16
Valuation Days
Subscription/ Redemption Days
Fund Manager
INCOME
12%
11%
7%
4%
3%
K-Electric Limited-II
Lalpir (Commercial Paper)
GoP Ijarah Sukuks XVI
2%
1%
0.3%
Asset Allocation:
Sukuks
Government backed / Guaranteed Securities
Commercial Paper
Placements with Banks and DFIs
Cash
Others Including receivables
Jun 16
29%
13%
2%
19%
35%
2%
Jul 16
27%
12%
1%
18%
41%
1%
15.8%
11.2%
3.5%
13.8%
37.5%
14.5%
2.9%
60%
WWF Disclosure: The Board of Directors of the management company in its meeting held on October 25, 2013 have
Credit Quality
38%
30%
16%
15%
11.2%
4%
14%
3%
0%
resolved that unrecorded accumulated WWF provision in the fund from the date of its application till December 31, 2012, in
case is required to be paid, shall be borne by Al Meezan Investment Management Limited (Management Company of the
fund). Thus, the Fund is no longer liable to pay any expense under WWF until December 31, 2012.
AA-
A-
A+
AA
AA+
AAA
The Fund has maintained provisions against Workers Welfare Fund liability of Rs. 45.46 million till June 30, 2015, if the same
was not made the NAV per unit/return of the fund would have been higher by Rs. 0.23/0.44%. Effective from July 1, 2015 no
provision is being made as mutual funds have been excluded from levy of WWF vide Finance Act 2015.
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
July, 2016
AMC RATING AM2++ (STABLE OUTLOOK)
Fund Review
Net assets of Meezan Cash Fund (MCF) stood at Rs. 3.39 billion as on July 29, 2016. MCF has provided an annualized return of 4.88% for the
month of July as compared to its benchmark which has provided an annualized return of 4.24% during the same period.
Investment Objective:
To seek maximum possible preservation of capital and
a reasonable rate of return via investing primarily in
liquid Shariah compliant money market and debt
securities.
Fund Details:
FundFunds
Type: Details
Registrar
Unit Types
Management Fee
Front End Load
Back End Load*
Fund Category
Leverage
Listing
AMC Rating
Rating Agency
Fund Stability Rating
Pricing Mechanism
Weighted average time to
maturity
Benchmark
17.37 Days
3Yr
5Yr
PSD*
4.53%
6.70%
8.83%
11.00%
Benchmark
4.24%
4.32%
4.27%
4.24%
4.43%
5.70%
6.42%
6.84%
Annual Returns:
FY16
FY15
FY14
FY13
FY12
FY11
FY10
FY09
MCF
4.59%
7.46%
7.08%
8.78%
10.71%
11.02%
10.09%
8.03%
Benchmark
4.49%
6.24%
6.55%
6.91%
8.13%
8.24%
7.50%
7.60%
15 days of operations
Monthly Performance:
6%
MCF
2%
0%
3,432
50.14
3,393
50.34
Key Benefits
MoM %
-1.12%
0.39%
Benchmark
Asset Allocation:
0.12%
75%
Rating Exposure:
AAA
32.47%
AA+
0.03%
AA
May-16
Jul'16
Apr-16
Jun '16
Benchmark
4%
Mar-16
Average return on
6-month Islamic
bank deposits
Mon-Fri
Mon-Fri 9am 4pm
Zain Malik
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
Expense Ratio
1Yr
4.88%
FYTD
4.52%
Feb-16
Members of
Investment Committee
6M
4.77%
Jan-16
Valuation Days
Subscription/ Redemption Days
Fund Manager
3M
4.88%
Jul-16
Auditors
1M
MCF
Jun-16
Risk Level
Launch Date
Trustee
MONEY MARKET
Commercial Paper
64.89%
14%
Portfolio Composition:
3%
Jun 16
Jul 16
12%
14%
Cash
79%
75%
Commercial Paper
7%
8%
2%
3%
8%
WWF Disclosure: The Board of Directors of the management company in its meeting held on October 25, 2013 have
resolved that unrecorded accumulated WWF provision in the fund from the date of its application till December 31, 2012, in
case is required to be paid, shall be borne by Al Meezan Investment Management Limited (Management Company of the fund).
Thus, the Fund is no longer liable to pay any expense under WWF until December 31, 2012.
The Fund has maintained provisions against Workers Welfare Fund liability of Rs. 58.58 million till June 30, 2015, if the same
was not made the NAV per unit/return of the fund would have been higher by Rs. 0.87/1.73%. Effective from July 1, 2015 no
provision is being made as mutual funds have been excluded from levy of WWF vide Finance Act 2015.
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
Fund Review
Net assets of Meezan Sovereign Fund (MSF) stood at Rs. 8.93 billion as on July 29, 2016. For the month of July, the fund has provided an
annualized return of 7.26% as compared to its benchmark which has provided an annualized return of 4.24% during the same period.
Investment Objective:
To seek maximum possible preservation of capital and
a reasonable rate of return
Fund Details:
Fund Type:
Risk Funds
Level
Launch Date
Trustee
Details
Auditors
Registrar
Unit Types
Management Fee
Front End Load
Back End Load
Fund Category
Leverage
Listing
AMC Rating
Rating Agency
Fund Stability Rating
Pricing Mechanism
Weighted average time to
maturity
Benchmark
1M
3M
6M
FYTD
1Yr
3Yr
5Yr
MSF
7.26%
5.65%
5.00%
7.26%
5.15%
7.26%
9.44%
11.08%
Benchmark
4.24%
4.32%
4.27%
4.24%
4.43%
5.70%
6.42%
6.78%
Annual Returns:
FY16
5.12%
FY15
6.81%
FY14
8.50%
FY13
9.11%
FY12
11.19%
FY11
11.45%
FY10
9.76%*
FY09
MSF
Benchmark
4.49%
6.24%
6.55%
6.91%
8.13%
8.24%
7.50%
Monthly Performance:
8%
MSF
6%
2%
0%
84.1%
0.1%
7.1%
7.2%
Benchmark
Asset Allocation:
Asset Allocation:
WWF Disclosure:
Asset Rating:
Jul-16
12.34%
0.58%
Jun-16
MoM %
8,925
51.10
0.12%
May-16
Jul '16
7,945
50.80
Apr-16
Jun '16
Mar-16
Average return on
6-month Islamic
bank deposits
Mon-Fri
Mon-Fri 9am 4pm
Zain Malik
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
Government Guaranteed
Cash
Other Including receivables
Benchmark
4%
1.90 years
AAA
AA+
AA
A+
PSD*
Feb-16
Members of
Investment Committee
Jan-16
Valuation Days
Subscription/ Redemption Days
Fund Manager
Open End
Minimal
10-Feb-10
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
A, B, C and D
1%
0.5%
Nil
Income
Nil
ISE
AM2++
JCRVIS
AA (f)
Forward
INCOME
July, 2016
Jun 16
Jul16
58%
41%
1%
74%
24%
2%
74%
Government Guaranteed
Cash
meeting held on October 25, 2013 have resolved that unrecorded accumulated WWF
provision in the fund from the date of its application till December 31, 2012, in case is
required to be paid, shall be borne by Al Meezan Investment Management Limited
(Management Company of the fund). Thus, the Fund is no longer liable to pay any expense
under WWF until December 31, 2012.
The Fund has maintained provisions against Workers Welfare Fund liability of Rs. 133.89
million till June 30, 2015, if the same was not made the NAV per unit/return of the fund
would have been higher by Rs. 0.77/1.50%. Effective from July 1, 2015 no provision is being
made as mutual funds have been excluded from levy of WWF vide Finance Act 2015.
2%
24%
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
July, 2016
Fund Review:
As at July 29, 2016, total size of net assets of Meezan Tahaffuz Pension Fund (MTPF) stood at Rs. 6,878 million. For the month of July, the NAV
of equity sub fund increased by 6.93% while the NAV of debt and money Market sub funds provided an annualized return of 6.40% and 4.06%
respectively.
Investment Objective:
To provide participants a regular Halal income stream
after retirement/disability when they can no longer
earn regular income to support their living so that they
are not dependent on other members of the society.
Fund Details:
Fund Type:
Funds
Risk Level
Launch Date
Trustee
Auditors
Details
Registrar
Fund Category
Management Fee
Front End Load
Leverage
AMC Rating
Rating Agency
Pricing Mechanism
Valuation Days
Subscription/ Redemption Days
Fund Manager
Members of
Investment Committee
Open End
Investor Dependent
28-Jun-07
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
Pension
1.5%
3%
Nil
AM2++
JCRVIS
Forward
Mon-Fri
Mon-Fri 9am 4pm
Asmar Hamoodi, CFA
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
Jun '16
4,099
1,997
453
6,549
Jul '16
4,423
2,001
454
6,878
MoM %
7.9%
0.2%
0.1%
5.0%
1M
6%
4%
2%
0.4%
High Volatility
Med. Volatility
Low Volatility
Lower Volatility
3M
12%
8%
4%
1%
6M
19%
13%
8%
2%
YTD
6%
4%
2%
0.4%
1Yr
18%
13%
9%
4%
3Yr
79%
57%
38%
19%
5Yr
232%
161%
101%
41%
PSD*
362%
266%
185%
105%
CAGR*
18%
15%
12%
8%
Equity
Debt
Money Market
High Volatility
80%
20%
0%
Medium Volatility
50%
40%
10%
Low Volatility
Lower Volatility
25%
0%
60%
50%
15%
50%
Annual Returns:
FY16
FY15
FY14
FY13
FY12
FY11
FY10
MTPF- Equity
18.1%
26.6%
32.4%
54.9%
16.8%
36.0%
31.5%
FY09
25.8%
MTPF- Debt
MTPF- MMkt
4.5%
6.4%
7.7%
8.3%
9.5%
10.9%
8.5%
10.2%
4.0%
6.9%
6.9%
7.8%
10.9%
10.7%
8.5%
11.1%
26%
Fertilizer
14%
10%
9%
8%
Other Sectors
28%
4%
Engro Corporation
Packages Ltd.
Lucky Cement Ltd.
The Hub Power Co. Ltd.
Pakistan State Oil Co. Ltd.
DG Khan Cement Co. Ltd.
Engro Fertilizer Ltd.
Mari Petroleum Ltd.
Fauji Cement Co. Ltd
Pioneer Cement Ltd.
7%
7%
7%
6%
5%
5%
5%
4%
4%
3%
Jun '15
492.0
204.5
203.2
Sukuk Holdings
4.0%
PENSION
Jul '16
526.0
205.6
203.9
MoM %
6.93%
0.53%
0.33%
22.51%
5.04%
Engro Fertilizer
4.51%
Sukuk
12.8%
Placement
Cash & Other Including receivables
52.7%
Sukuk
GoP Guaranteed Securities
Cash & Other Including receivables
4.5%
27.5%
WWF Disclosure: The Board of Directors of the management company in its meeting held on October 25, 2013 have resolved that unrecorded accumulated WWF provision in the fund from the
date of its application till December 31, 2012, in case is required to be paid, shall be borne by Al Meezan Investment Management Limited (Management Company of the fund). Thus, the Fund is no
longer liable to pay any expense under WWF until December 31, 2012.
Effective from January 1, 2013, the Fund has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 42.25mn (Equity), Rs. 5.84mn (Debt) and Rs. 1.45mn (MMKT), if the
same were not made the NAV per unit/return of the fund would be higher by Rs. 5.03/0.96% (Eq.), Rs. 0.60/0.29% (Dt.) and Rs. 0.65/0.32 (MM.). For further details, investors are advised to read
financial statements of the fund.
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
July, 2016
Fund Review:
As at July 29, 2016, the net assets of KSE-Meezan Index Fund (KMIF) stood at Rs. 932 million. For the month of July, KMIF provided a return of
5.81%.
Investment Objective:
INDEX TRACKER
Fund
that
aims
to
provide
investors
an
of
the
Index
in
proportion
to
their
weightages.
1M
3M
6M
FYTD
1Yr
3Yr
5Yr
PSD*
CAGR
KMIF
5.8%
15.4%
29.1%
5.8%
17.3%
60.4%
159.4%
25.5%
Benchmark
5.9%
15.8%
30.2%
5.9%
19.7%
71.9%
189.4%
28.8%
Annual Returns:
Fund Details:
Fund Type:
Risk Level
Launch Date
Trustee
Auditors
Registrar
Unit Types
Management Fee
Front End Load
Fund Category
Back End Load
Leverage
Listing
AMC Rating
Rating Agency
Pricing Mechanism
Benchmark
Valuation Days
Subscription/ Redemption Days
Fund Manager
FY10
FY09
Benchmark
15.5%
20.1%
29.9%
54.4%
-1.9%
* 38 days of operations.
Funds Performance:
310
290
KMIF
Benchmark
270
250
230
210
190
170
150
130
110
90
Jul-16
May-16
Mar-16
Feb-16
Dec-15
Oct-15
Aug-15
Jun-15
May-15
Mar-15
Jan-15
Nov-14
Sep-14
Aug-14
Jun-14
11%
11%
10%
9%
6%
6%
4%
4%
3%
3%
Sector Allocation:
26%
0.15%
Cement
18%
Assets Allocation:
Equity (%)
Cash (%)
Other Including receivables (%)
Apr-14
Feb-14
Dec-13
Oct-13
Sep-13
Jul-13
May-13
MoM %
5.75%
5.81%
FY11
-2.4%*
Mar-13
Expense Ratio
Jul '16
932
83.50
FY12
49.6%
Jan-13
Jun '16
882
78.91
FY13
26.5%
Dec-12
FY14
17.1%
Oct-12
FY15
13.3%
Aug-12
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
FY16
KMIF
Jun-12
Members of
Investment Committee
Open End
High
23-May-12
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
A and B
1%
2%
Index Tracker Scheme
Nil
Nil
ISE
AM2++
JCRVIS
Forward
KMI-30 Index
Mon-Fri
Mon-Fri 9am 1pm
Asmar Hamoodi, CFA
Jun '16
97.3
1.6
1.1
Jul '16
97.5
2.1
0.4
Fertilizer
17%
15%
4%
20%
Pharmaceuticals
Others
WWF Disclosure: The Board of Directors of the management company in its meeting held on October 25, 2013 have resolved that unrecorded accumulated WWF provision in the fund from the
date of its application till December 31, 2012, in case is required to be paid, shall be borne by Al Meezan Investment Management Limited (Management Company of the fund). Thus, the Fund is no longer
liable to pay any expense under WWF until December 31, 2012.
The Fund has maintained provisions against Workers Welfare Fund liability of Rs. 12.90 million till June 30, 2015, if the same was not made the NAV per unit/return of the fund would have been higher by
Rs.1.16/1.38%. Effective from July 1, 2015 no provision is being made as mutual funds have been excluded from levy of WWF vide Finance Act 2015.
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
July, 2016
Fund Review:
As at July 29, 2016, total size of net assets of Meezan Financial Planning Fund of Fund (MFPFOF) stood at Rs. 12,231 million. For the month of
July, the NAV of Aggressive plan increased by 5.5% while the NAV of moderate, Conservative plan, Preservation plan I, Preservation plan II,
MAAP-I, MAAP-II, MAP-III and MAAP-IV provided a return of 4.1%, 2.3%, 5.2%, 3.3%, 6.2%, 6.1%, 6.2% and 4.6% respectively.
Investment Objective:
To generate returns on Investment as per respective
allocation plans by investing in Shariah Compliant
Fixed Income and Equity Mutual Funds in line with the
risk tolerance of the Investor.
Fund Details:
Fund Type:
Risk
Level Details
Funds
Launch Date
Trustee
Auditors
Registrar
Unit Types
Management Fee
Front End Load
Open End
Plan specific
11-April-13
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
A and B
Same as underlying
Funds and 1% on Cash
Fund Category
Back End Load
Leverage
AMC Rating
Rating Agency
Pricing Mechanism
Fund Manager
Benchmark
Aggressive Allocation Plan
Moderate Allocation Plan
Conservative Allocation Plan
MCPP Plan I
MCPP Plan II
MAAP I, II, III & IV
Valuation Days
Subscription/ Redemption
Days
Members of Investment
Committee
Jun '16
443
367
327
1,576
3,035
1,278
925
2,851
532
Jul '16
461
388
338
1,658
3,106
1,354
981
3,022
922
1M
5.5%
4.0%
4.1%
3.2%
2.3%
1.5%
Aggressive
Benchmark
Moderate
Benchmark
Conservative
Benchmark
MCPP I**
Benchmark
5.2%
3.8%
MCPP II***
Benchmark
3.3%
2.4%
MAAP I****
Benchmark
6.2%
5.3%
MAAP II*****
6.1%
5.1%
Benchmark
MAAP III#
6.2%
5.2%
Benchmark
MoM %
4.1%
5.8%
3.4%
5.2%
2.4%
6.0%
6.1%
6.0%
73.3%
3M
11.2%
10.7%
8.0%
8.4%
4.7%
4.0%
9.7%
9.3%
6M
19.4%
20.4%
13.9%
16.2%
8.1%
7.8%
15.0%
15.3%
FYTD
5.5%
4.0%
4.1%
3.2%
2.3%
1.5%
5.2%
3.8%
1Yr
16.3%
14.4%
12.6%
12.1%
8.8%
7.5%
12.5%
10.7%
3Yr
59.3%
65.1%
47.7%
54.0%
34.5%
31.9%
-
5Yr
-
PSD*
85.2%
79.8%
64.4%
65.8%
43.0%
37.7%
25.3%
22.3%
6.1%
5.8%
12.5%
13.2%
12.2%
12.8%
11.9%
12.5%
-
9.0%
8.6%
22.2%
25.8%
22.0%
25.0%
20.4%
23.1%
-
3.3%
2.4%
6.2%
5.3%
6.1%
5.1%
6.2%
5.2%
4.59%
3.81%
7.7%
6.7%
-
10.5%
10.3%
18.6%
21.0%
21.8%
24.3%
20.5%
23.2%
5.36%
4.27%
MAAP IV##
4.59%
3.81%
Benchmark
* Performance start date of April 12, 2013. ** Performance start date of September 01, 2014. *** Performance start date of
December 16, 2014. **** Performance start date of July 10, 2015, ***** Performance start date of November 24, 2015.
# Performance start date of January 26, 2016, ## Performance start date of May 24, 2016.
Annual Returns:
FY16
FY15
FY14
FY13
FY12
FY11
FY10
FY09
Aggressive
Benchmark
13.3%
11.7%
16.5%
15.1%
22.1%
21.7%
9.0%*
7.9%
Moderate
Benchmark
11.3%
10.0%
13.6%
12.9%
17.3%
18.2%
6.5%*
6.2%
8.7%
6.7%
10.1%
8.6%
12.6%
11.2%
3.8%*
3.6%
MCPP I 1
Benchmark
10.5%
8.7%
7.8%**
8.5%
MCPP II2
Benchmark
6.5%
5.6%
0.4%***
2.0%
MAAP - I3
Benchmark
MAAP - II4
Benchmark
MAAP III5
Benchmark
MAAP IV6
Benchmark
11.7%
14.9%
14.8%
18.3%
13.5%
17.1%
0.7%
0.4%
Conservative
Benchmark
* 80 days of operations, 1 303 days of operations, 2 196 days of operations, 3 356 days of operation, 4 219 days of operation,
5
Jun '16
Jul '16
MoM%
73.37
65.32
60.71
77.41
67.98
62.10
5.5%
4.1%
2.3%
55.64
50.73
54.03
58.54
52.42
57.39
5.2%
3.3%
6.2%
MAAP - II
54.75
58.09
6.1%
MAAP - III
54.03
57.36
6.2%
MAAP - IV
48.42
50.64
4.59%
Aggressive
FUND OF FUNDS
Moderate
Conservative
MCPP - I
MCPP - II
MAAP - I
Funds Multiplier:
High Multiplier
MCPP-I
3.84
Low Multiplier
3.46
MCPP-II
4.00
3.30
(to be contd..)
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
July, 2016
Fund Review:
As at July 29, 2016, total size of net assets of Meezan Financial Planning Fund of Fund (MFPFOF) stood at Rs. 12,231 million. For the month of
July, the NAV of Aggressive plan increased by 5.5% while the NAV of moderate, Conservative plan, Preservation plan I, Preservation plan II,
MAAP-I, MAAP-II, MAP-III and MAAP-IV provided a return of 4.1%, 2.3%, 5.2%, 3.3%, 6.2%, 6.1%, 6.2% and 4.6% respectively.
Investment Objective:
To generate returns on Investment as per respective
allocation plans by investing in Shariah Compliant
Fixed Income and Equity Mutual Funds in line with the
risk tolerance of the Investor.
Fund Details:
Fund Type:
Risk
Level Details
Funds
Launch Date
Trustee
Auditors
Registrar
Unit Types
Management Fee
Front End Load
Open End
Plan specific
11-April-13
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
A and B
Same as underlying
Funds and 1% on Cash
Fund Category
Back End Load
Leverage
AMC Rating
Rating Agency
Pricing Mechanism
Fund Manager
Asset Allocation:
Equity/ Index
Funds (%)
Aggressive
Moderate
Conservative
MCPP-I
MCPP-II
MAAP-I
MAAP-II
MAAP-III
MAAP-IV
Cash
(%)
0.7%
1.5%
1.3%
0.7%
0.2%
0.3%
1.9%
0.4%
2.8%
Other Including
receivables (%)
0.0%
0.8%
0.1%
0.0%
0.0%
0.0%
0.0%
0.0%
0.3%
Benefits
Benchmark
Aggressive Allocation Plan
70.9%
50.5%
25.9%
70.0%
40.4%
74.9%
73.7%
74.9%
67.8%
Income/Money
market Funds (%)
28.4%
47.2%
72.7%
29.4%
59.4%
24.8%
24.4%
24.8%
29.1%
FUND OF FUNDS
Investment
Policy
Trading
Strategy
WWF Disclosure: The Board of Directors of the management company in its meeting held on October
Expense Ratio
Aggressive
Moderate
Conservative
MCPP - I
MCPP - II
MAAP - I
MAAP - II
MAAP - III
MAAP - IV
Jul '16
0.03%
0.03%
0.03%
0.02%
0.02%
0.02%
0.03%
0.02%
0.03%
25, 2013 have resolved that unrecorded accumulated WWF provision in the fund from the date of its
application till December 31, 2012, in case is required to be paid, shall be borne by Al Meezan Investment
Management Limited (Management Company of the fund). Thus, the Fund is no longer liable to pay any
expense under WWF until December 31, 2012.
The Scheme has maintained provisions against Workers Welfare Funds liability to the tune of Rs.2.69mn
(Aggressive), Rs.1.74mn (moderate), Rs.1.45mn (Conservative), Rs.2.35mn (Preservation Plan I), 0.28mn
(Preservation Plan II). If the same were not made the NAV per unit/return of the Scheme would be higher by
Rs. 0.45/0.58% (Aggressive), Rs. 0.31/0.45% (Moderate), Rs. 0.27/0.43% (Conservative), Rs. 0.08/0.14%
(Preservation Plan I) and Rs. 0.005/0.01% (Preservation Plan II). For details, investors are advised to read
Financial Statements of the Scheme. Effective from July 1, 2015 no provision is being made as mutual funds
have been excluded from levy of WWF vide Finance Act 2015.
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
July, 2016
AMC RATING AM2++ (STABLE OUTLOOK)
Fund Review:
Net assets of Meezan Gold asdf
Fund (MGF) as at July 29, 2016 stood at Rs. 379 million. The funds NAV increased by 1.29% during the month.
Investment Objective:
Meezan Gold Fund (MGF) aims to provide maximum
exposure to prices of Gold in a Shariah Compliant
(Islamic) manner, by investing a significant portion of
the Funds net assets in deliverable gold based
Funds
Details
contracts
available
on Pakistan Mercantile Exchange
(PMEX).
Fund Details:
Fund Type:
Risk Level
Launch Date
Trustee
Auditors
Registrar
Unit Types
Management Fee
Front End Load
Fund Category
Back End Load
Benchmark
Leverage
Listing
AMC Rating
Rating Agency
Pricing Mechanism
Valuation Days
Subscription/ Redemption Days
Fund Manager
Members of
Investment Committee
Open End
High
13-Aug-15
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
C
1.5%
2%
Commodity Fund
Nil
Combination of 70%
PKR base closing price
of physical gold
and 30% Average
return on 6-month
Islamic bank deposits
Nil
ISE
AM2++
JCRVIS
Forward
Mon-Fri
Mon-Fri 9am 4pm
Ali Khan, CFA
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
Expense Ratio
Jun 16
Jul '16
MoM %
321
54.53
379
55.23
18.17%
1.29%
0.25%
(net of expenses):
1M
3M
6M
FYTD
1Yr
3Yr
5Yr
PSD*
MGF
1.3%
4.3%
15.7%
1.3%
12.6%
Benchmark
0.7%
3.3%
12.9%
0.7%
16.8%
Annual Returns:
MGF
Benchmark
FY16
FY15
FY14
FY13
FY12
FY11
FY10
FY09
10.5%*
16.0%
Key Advantages
Investment Strategy
GOLD FUND
Investment Horizon
Assets Allocation:
Gold (%)
Cash (%)
Other Including receivables (%)
Jun '16
65.6
34.3
0.1
Jul '16
86.0
14.0
0.0
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
ATING
TABLE
UTLOOK
Fund Review:
Net assets of Meezan Asset Allocation Fund (MAAF) as at July 29, 2016 stood at Rs. 564 million. The funds NAV increased by 3.99% during the
month.
3M
6M
FYTD
1Yr
3Yr
5Yr
PSD*
MAAF
4.0%
7.1%
4.0%
6.9%
Benchmark
3.6%
8.9%
3.6%
9.1%
Annual Returns:
Fund Details:
Jun '16
460
51.06
Expense Ratio
Jul '16
564
53.09
MoM %
22.65%
3.99%
FY12
FY11
FY10
FY09
2.8%*
5.0%
Benchmark
* 37 days of operations.
*
Funds Performance:
55.00
MAAF
Benchmark
53.00
51.00
49.00
10%
6%
5%
Engro Fertilizer
DG Khan Cement Ltd.
Engro Corporation
Pakistan Petroleum Ltd.
Pakistan State Oil Co. Ltd.
5%
5%
29-Jul
24-Jul
19-Jul
14-Jul
9-Jul
4-Jul
29-Jun
24-Jun
19-Jun
Abbott Pharmaceutical
Pak Elektron Ltd.
Nishat Mills Ltd.
5%
4%
4%
K-Electric Ltd.
Packages Ltd.
4%
4%
Sector Allocation:
7%
Jul
'16
80.5
0.0
18.8
0.7
14-Jun
Cement
7%
14%
Jun
'16
56.5
0.0
40.7
2.8
9-Jun
4-Jun
30-May
47.00
0.29%
Assets Allocation:
Equity (%)
Money Market (%)
Cash (%)
Other Including receivables (%)
FY13
25-May
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
FY14
20-May
Members of
Investment Committee
FY15
15-May
Fund Manager
FY16
10-May
Registrar
Management Fee
Fund Category
Front End Load
Back End Load
Leverage
Listing
AMC Rating
Rating Agency
Pricing Mechanism
Valuation Days
Subscription/ Redemption Days
Benchmark
MAAF
25-Apr
Auditors
Open End
Low to Moderate
18-Apr-2016
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
1.5%
Asset Allocation
3%
Nil
Nil
AM2++
JCRVIS
Forward
Mon-Fri
Mon-Fri 9am 4pm
Weighted average
daily return of KMI-30
Index and 6 month
deposit rate of A
rated (and above)
Ahmed Hassan, CFA
20-Apr
Fund Type:
Risk Level
Launch Date
Trustee
5-May
30-Apr
Investment
Objective:
Funds Details
ASSET ALLOCATION
19%
8%
45%
Pharmaceuticals
Others
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
July, 2016
Fund Review:
For the month of July 2016, KSE-Meezan Index (KMI-30) increased by 5.59% with which the fund also increased its exposure to equities. The
NAV as a result increased from Rs. 61.38 to Rs. 64.80 translating into a gain of 5.58% for the month.
Investment Objective:
asset
allocation
6M
FYTD
1Yr
3Yr
5Yr
PSD*
MCPRF-II
5.6%
11.3%
16.7%
5.6%
14.3%
29.6%
Benchmark
4.2%
9.6%
15.5%
4.2%
11.6%
23.7%
FY13
FY12
FY11
FY10
FY09
11.2%
10.3%
8.9%
8.5%
Apr-16
Funds Performance:
67.00
MCPRF-II
65.00
Benchmark
63.00
61.00
59.00
57.00
55.00
53.00
51.00
49.00
47.00
Jul-16
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
FY14
Jan-16
Members of
Investment Committee
Benchmark
FY15
Oct-15
Leverage
Listing
AMC Rating
Rating Agency
Pricing Mechanism
Valuation Days
Subscription/ Redemption Days
Fund Manager
MCPRF-II
FY16
Jul-15
Registrar
Unit Types
Management Fee
Front End Load
Fund Category
Back End Load
Benchmark
Annual Returns:
Apr-15
Auditors
Open End
Low to Moderate
28-Jun-14
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
A and B
1%
3%
Fund of Funds
Contingent Load
Combination of
KMI-30 Index and
Average return
on 6-month Islamic
bank deposits
Nil
ISE
AM2++
JCRVIS
Forward
Mon-Fri
Mon-Fri 9am 4pm
Asif Imtiaz, CFA
Jan-15
Fund Type:
Risk Level
Launch Date
Trustee
Asset Allocation:
Jun 16
Jul '16
MoM %
1,217
61.38
1,286
64.80
5.70%
5.58%
Expense Ratio
0.05%
May 16
Jun 16
Jul 16
56.7
45.7
67.8
43.2
19.1
28.8
Cash (%)
0.1
35.1
3.3
0.0
0.1
0.1
WWF Disclosure: The Board of Directors of the management company in its meeting held on October
Funds Multiplier:
MCPRF-II
High Multiplier
Low Multiplier
3M
Fund Details:
(net of expenses):
1M
between
Oct-14
through
Jul-14
return
FUND OF FUNDS
3.73
3.05
25, 2013 have resolved that unrecorded accumulated WWF provision in the fund from the date of its
application till December 31, 2012, in case is required to be paid, shall be borne by Al Meezan Investment
Management Limited (Management Company of the fund). Thus, the Fund is no longer liable to pay any
expense under WWF until December 31, 2012.
The Fund has maintained provisions against Workers Welfare Fund liability of Rs. 4.28 million till June 30,
2015, if the same was not made the NAV per unit/return of the fund would have been higher by Rs.
0.22/0.33%. Effective from July 1, 2015 no provision is being made as mutual funds have been excluded from
levy of WWF vide Finance Act 2015.
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
July, 2016
(MBF)
Fund Review:
Net assets of Meezan Balanced Fund (MBF) as at July 29, 2016 stood at Rs. 5.04 billion. The funds NAV increased by 4.57% during the month.
Investment
Objective:
Funds Details
BALANCED
1M
3M
6M
FYTD
1Yr
3Yr
5Yr
PSD*
CAGR*
MBF
5%
9%
17%
5%
14%
54%
147%
501%
17%
Benchmark
3%
8%
16%
3%
12%
43%
128%
355%
14%
Annual Returns:
Fund Details:
Fund Type:
Risk Level
Launch Date
Trustee
Auditors
Registrar
Management Fee
Fund Category
Front End Load
Back End Load
Leverage
Listing
AMC Rating
Rating Agency
Pricing Mechanism
Valuation Days
Subscription/ Redemption Days
Benchmark
Fund Manager
Members of
Investment Committee
Open End
Moderate
20-Dec-2004
CDC
KPMG Taseer Hadi
& Co.
Meezan Bank Ltd.
2%
Balanced
2%
Contingent Load
Nil
ISE
AM2++
JCRVIS
Forward
Mon-Fri
Mon-Fri 9am 4pm
50% KMI-30 Index
50% Average bank
Deposit rate of three
Islamic banks
Asmar Hamoodi, CFA
M. Shoaib, CFA
Muhammad Asad
Ali Khan, CFA
Ahmed Hassan, CFA
Asif Imtiaz, CFA
Zain Malik
Asmar Hamoodi, CFA
Imad Ansari
MBF
Benchmark
FY16
FY15
FY14
FY13
FY12
FY11
FY10
FY09
12%
16%
20%
32%
17%
25%
23%
-11%
10%
13%
18%
30%
10%
25%
21%
-14%
Jun 16
Equity
GoP Guaranteed Securities
Sukuk
Commercial Paper
Cash Others including receivable
57%
2%
25%
0%
16%
Expense Ratio
WWF Disclosure:
Jul '16
5,038
16.56
13%
5%
56%
2%
21%
2%
19%
Sukuk
8%
Cement
25%
MoM %
7.02%
4.57%
0.22%
Jul 16
Sector Allocation:
Sukuk
9%
6%
5%
2%
2%
Asset Allocation:
10%
K-Electric Sukuk 3
Engro Fertilizer Limited - II
Hascol Sukuk
Lalpir (Commercial Paper)
GoP Ijarah Sukuk XVII
40%
in its meeting held on October 25, 2013 have resolved that unrecorded accumulated
WWF provision in the fund from the date of its application till December 31, 2012, in
case is required to be paid, shall be borne by Al Meezan Investment Management
Limited (Management Company of the fund). Thus, the Fund is no longer liable to
pay any expense under WWF until December 31, 2012.
The Fund has maintained provisions against Workers Welfare Fund liability of Rs.
37.91 million till June 30, 2015, if the same was not made the NAV per unit/return of
the fund would have been higher by Rs. 0.12/0.75%. Effective from July 1, 2015 no
provision is being made as mutual funds have been excluded from levy of WWF vide
Finance Act 2015.
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)
MIF
Benchmark
AMMF
Benchmark
MIIF
Benchmark
MCF
Benchmark
MSF
Benchmark
MTPF- Equity
MTPF- Debt
MTPF- MMkt
KMIF
Benchmark
MCPRF-II
Benchmark
MCPF-III
Benchmark
MBF
Benchmark
Aggressive
Benchmark
Moderate
Benchmark
Conservative
Benchmark
MCPP - I
Benchmark
MCPP II
Benchmark
MAAP I
Benchmark
MAAP II
Benchmark
MAAP III
Benchmark
MAAP IV
Benchmark
MGF
Benchmark
MAAF
Benchmark
FY16
FY15
FY14
FY13
FY12
FY11
FY10
FY09
FY08
FY07
17%
16%
16%
16%
22%
20%
22%
20%
29%
30%
30%
30%
51%
54%
51%
54%
19%
14%
19%
14%
39%
44%
38%
44%
31%
37%
31%
37%
-30%
-35%
-32%
-35%
0%
1%
0%
1%
29%
17%
27%
17%
5.8%
3.5%
4.6%
4.5%
5.1%
4.5%
18.1%
4.5%
4.0%
13.3%
15.5%
11.2%
8.9%
12%
10%
13.3%
11.7%
11.3%
10.0%
8.7%
6.7%
10.5%
8.7%
6.5%
5.6%
11.7%
14.9%
14.8%
18.3%
13.5%
17.1%
0.7%
0.4%
10.5%
16.0%
2.8%
5.0%
8.2%
5.0%
7.5%
6.2%
6.8%
6.2%
26.6%
6.4%
6.9%
17.1%
20.1%
10.3%
8.5%
12.1%
12.0%
16%
13%
16.5%
15.1%
13.6%
12.9%
10.1%
8.6%
7.8%
8.5%
0.4%
2.0%
-
11.9%
5.4%
7.1%
6.6%
8.5%
6.6%
32.4%
7.7%
6.9%
26.5%
29.9%
5.6%
5.0%
20%
18%
22.1%
21.7%
17.3%
18.2%
12.6%
11.2%
-
14.5%
5.5%
8.8%
6.9%
9.1%
6.9%
54.90%
8.30%
7.80%
49.6%
54.4%
32%
30%
9.0%
7.9%
6.5%
6.2%
3.8%
3.6%
-
7.8%
6.0%
10.7%
8.1%
11.2%
8.1%
16.8%
9.5%
10.9%
-2.4%
-1.9%
17%
10%
-
11.8%
5.9%
11.0%
8.2%
11.5%
8.2%
36.0%
10.9%
10.7%
25%
25%
-
7.3%
5.8%
10.1%
7.5%
9.8%
7.5%
31.5%
8.5%
8.5%
23%
21%
-
10.1%
6.1%
8.0%
7.6%
-25.8%
10.2%
11.1%
-11%
-14%
-
9.3%
5.8%
3.1%
8.3%
7.7%
1%
3%
-
10.1%
5.0%
26%
11%
-
Disclaimer This publication is for informational purpose 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
risk. The NAV based prices of units and any dividends/returns thereon are dependent on force and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results.
(This report has been prepared in line with MUFAPs recommended Format)