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MKT/FMR/07/14
Dear Investor,
We are grateful to you for continuing to be a part of Al Meezan Family of Funds. Your trust and confidence has been motivating us to continue
in our endeavors of providing you the best products and services. By the Grace of Almighty Allah, Al Meezan is managing ten funds with total
assets under management of over Rs 50 billion, making it the largest private sector asset management company in Pakistan.
Interim Dividend Payout for MCF - FY 2014
We are pleased to announce another interim dividend for MCF for the period ended January 23, 2014, as per the following detail:
Fund Dividend (Rs.) per unit % of par value of Rs. 50/- FY14 Return
Meezan Cash Fund (MCF) 0.30 0.60% 7.25%
Funds Performance
The Karachi Stock Exchange (KSE) remained buoyant in the month of January 2014. It witnessed a small correction in the last week but bounced
back with closing at 26,607 by the end of the month. During the month, the KSE-100 Index crossed the barrier of 27,000 points touching its all
time highs. This boded well for our equity funds as well which showed consistent performance as indicated in the table below:
CYTD13 Returns FYTD14 Returns
Equity Funds
Meezan Islamic Fund (MIF) 43.22% 18.72%
Al Meezan Mutual Fund (AMMF) 42.69% 18.45%
Meezan Tahaffuz Pension Fund-(MTPF- Equity Sub Fund) 46.27% 21.37%
KSE Meezan Index Fund( KMIF) 40.51% 18.37%
Fixed Income Funds
Meezan Tahaffuz Pension Fund-(MTPF- Debt Sub Fund) 7.55% 7.68%
Meezan Tahaffuz Pension Fund-(MTPF- M. Mkt Sub Fund) 6.94% 6.97%
Meezan Sovereign Fund (MSF) 8.33% 8.41%
Meezan Cash Fund (MCF) 7.60% 7.25%
Meezan Islamic Income Fund (MIIF) 10.94% 10.20%
Fund of Funds
Meezan Financial Planning Fund (MFPF- Aggressive Allocation Plan)* 17.02% 14.29%
Meezan Financial Planning Fund (MFPF- Moderate Allocation Plan)* 11.89% 11.02%
Meezan Financial Planning Fund (MFPF- Conservative Allocation Plan)* 8.82% 7.74%
Balanced and Capital Protected Funds
Meezan Balanced Fund (MBF) 26.02% 12.17%
Meezan Capital Protected Fund (MCPF-II) 13.39% 7.19%
*Meezan Financial Plannning Fund (MFPF)- Performance start date of April 12, 2013
Successful Launch of Meezan Capital Preservation Fund
The subscription period of MCPF was a huge success marked with the total assets of this fund crossing Rs. 2.9 Billion in six weeks period. The
objective of this fund is to provide 100% protection of your capital and simultaneously offer competitive returns through investment in the
equity and income based instruments. The fund will provide an opportunity to invest up to 100% in Shariah Compliant Equities while preserving
the initial investment amount from downside risk in a market downturn. We would like to extend our gratitude to you for the trust and confidence
that you have reposed in our services and will continue with our efforts to provide Shariah compliant investment solutions.
We reiterate our commitment on achieving excellence in fund management and a delightful customer experience.
Yours truly,
Customer Services Call Centre Internet Banking Member Services Email Services SMS Alerts
Ground Floor, Block B, Finance & Trade Centre, Shahrah-e-Faisal, Karachi 74400, Pakistan.
UAN: (92-21) 111-633-926 (111-MEEZAN) Fax: (92-21) 35630808, Toll Free: 0800 -HALAL (42525)
E-mail: info@almeezangroup.com Web Site: www.almeezangroup.com
MKT/FMR/07/14
18.72% 43.22%
18.45% 42.69%
21.37% 46.27%
18.37% 40.51%
7.68% 7.55%
6.97% 6.94%
8.41% 8.33%
7.25% 7.60%
10.20% 10.94%
14.29% 17.02%
11.02% 11.89%
7.74% 8.82%
12.17% 26.02%
7.19% 13.39%
Customer Services Call Centre Internet Banking Member Services Email Services SMS Alerts
January, 2014
Fund Managers
AL Meezan Investment Management Report
Limited
0
\
Al Meezan Investments, the company in operation since 1995, has one of the longest track record of managing mutual funds in the private sector
in Pakistan. Al Meezan Investments manages eleven mutual funds; namely Al Meezan Mutual Fund, Meezan Balanced Fund, Meezan Islamic Fund,
Meezan Islamic Income Fund, Meezan Tahaffuz Pension Fund, Meezan Cash Fund, Meezan Sovereign Fund, Meezan Capital Protected Fund
(MCPF-II), MCPF-III, Meezan Financial Planning Fund of Funds and KSE Meezan Index Fund.
The total funds under management of Al Meezan, the only full fledged Shariah compliant asset management company in Pakistan, have reached
Rs. 50.60 billion as on January 31, 2014. With AM2 rating which denotes high management quality, the company clearly stays well ahead of all its
competitors in the Islamic asset management market in Pakistan.
27,200
10.19
200
26,400
10.16
25,600
100
10.13
24,800
0 24,000 10.10
1-Jan
6-Jan
9-Jan
15-Jan
20-Jan
23-Jan
31-Jan
28-Jan
8-Jan
2-Jan
15-Jan
21-Jan
27-Jan
31-Jan
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)
MEEZAN ISLAMIC FUND (MIF) January, 2014
EQUITY
AMC RATING AM2 (STABLE OUTLOOK)
Fund Review:
Net assets of Meezan Islamic Fund stood at Rs. 11.73 billion as on January 31, 2014. The funds NAV increased by 4.3% during the month of
January as compared to 4.1% increase in benchmark index (KMI-30) while KSE-100 Index during the same period increased by 6.0%. As on
January 31, the fund was 90% invested in equities.
-
Fund Net Assets:
Mar-06
Mar-10
Jan-14
Oct-08
Oct-12
Jun-07
Jun-11
Aug-03
Nov-04
Electricity
KSE-100 KMI-30
MIF index Index 27% 15% Personal Goods
Standard Deviation (%) 3.39 3.04 3.70
Others
Sharpe Ratio 1.03 1.71 0.89 6% 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).
adf
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. 65.15mn, if the same were not made the NAV per unit/return of
the fund would be higher by Rs. 0.30/0.56%. 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)
AL MEEZAN MUTUAL FUND (AMMF) January, 2014
EQUITY
AMC RATING AM2 (STABLE OUTLOOK)
Fund Review:
The net assets of Al Meezan Mutual Fund (AMMF) as at January 31, 2014 stood at Rs. 2.49 billion. The funds NAV increased by 4.4% during the
month of January as compared to 4.1% increase in benchmark index (KMI-30) while KSE-100 Index during the same period increased by 6.0%.
As on January 31, the fund was 89% invested in equities.
Fund Details: * Performance start date of July 13, 1995, CAGR since inception
Funds Details # KMI-30 replaced DJIIMPK as the Funds benchmark from July 01, 2009, while KSE-100 index
remained as the benchmark till June 30, 2006.
Fund Type: Open End
Risk Level High
Launch Date 13th Jul 1995 Annual Returns:
Trustee CDC
KPMG Taseer Hadi
Auditors FY13 FY12 FY11 FY10 FY09 FY08 FY07 FY06
& Co.
Registrar Meezan Bank Ltd. AMMF 51% 19% 38% 31% -32% 0% 27% 28%
Unit Types A, B,C and D
Management Fee 2% Benchmark 54% 14% 44% 37% -35% 1% 17% 25%
Front End Load 2%
Fund Category Equity
Back End Load Contingent Load Investment Growth from FY 1996 - to Date
Benchmark KMI-30
Leverage Nil
2,000,000 1,798,405
Listing ISE
AMC Rating AM2 1,800,000
Rating Agency JCRVIS
1,600,000
Pricing Mechanism Forward
Valuation Days Mon-Fri 1,400,000
Subscription/ Redemption Days Mon-Fri 9am 3pm 1,172,192
1,200,000
Fund Manager Dr. Gohar Rasool 968,549
1,000,000
Members of M. Shoaib, CFA
Investment Committee Muhammad Asad 800,000
Conversion
Sanam Zaib, CFA 600,000 from close end
Ahmed Hassan, CFA
400,000
Dr. Gohar Rasool 100,000 487,122
Zain Malik 200,000
122,800
-
Fund Net Assets:
Sep 11
Sep 12
Sep 13
June 96
June 02
June 08
Mar 12
Mar 13
Jan 14
Dec '13 Jan '14 MoM %
Net Assets (Rs mn) 2,485 2,486 0.05%
NAV Per Unit (Rs) 14.28 14.91 4.4%
Top Ten Equity Holdings:(% of Total Assets):
Oil & Gas Development Co. Ltd. 11% Lucky Cement Ltd. 7%
Asset Allocation: Pakistan Petroleum Ltd. 9% Packages Ltd. 7%
Pakistan Oilfields Ltd. 9% DG Khan Cement Co. Ltd. 5%
Dec '13 Jan '14 The Hub Power Co. Ltd. 9% Nishat Mills Ltd. 4%
Equity (%) 89.35 88.75 Pakistan State Oil Co. Ltd. 8% Fauji Fertilizer Co. Ltd. 3%
Cash (%) 10.20 10.86
Sector Allocation:
Other receivables (%) 0.45 0.43
37% Oil & Gas
Expense Ratio* 3.74 3.76
*Management fee is included in the expense ratio General Industrials
8%
Construction and Materials
Risk Measures January 14:
Electricity
KSE-100 KMI-30
AMMF index Index Chemicals
27% 14%
Standard Deviation (%) 3.32 3.04 3.70
Sharpe Ratio 1.08 1.71 0.89 Others
5% 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.
Effective from January 1, 2013, the Fund has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 16.38mn, if the same were not made the NAV per unit/return of
the fund would be higher by Rs.0.10/0.66%. 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)
MEEZAN ISLAMIC INCOME FUND (MIIF) January, 2014
INCOME
AMC RATING AM2 (STABLE OUTLOOK)
Fund Review
Net assets of Meezan Islamic Income Fund (MIIF) stood at Rs. 2.7 billion as on January 31, 2014. MIIF has provided an annualized return of
9.57% for the month of January as compared to its benchmark which has provided an annualized return of 4.99% during the same period.
Dec-13
Jan-14
Oct-13
Sep-13
Aug-13
Nov-13
Jul-13
Below BBB
AAA
WWF Disclosure: The Scheme has maintained provisions against Workers Welfare Funds liability to the tune of
Rs.32.37mn. If the same were not made the NAV per unit/return of the Scheme would be higher by Rs.0.62/1.20%.
For details investors are advised to read Financial Statements of the Scheme.
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)
MONEY MARKET
MEEZAN CASH FUND (MCF) January, 2014
Fund Review
Net assets of Meezan Cash Fund (MCF) stood at Rs. 5.2 billion as at January 31, 2014. MCF has provided an annualized return of 7.25% for the
month of January as compared to its benchmark which has provided an annualized return of 6.59% during the same period.
Nov-13
Jul-13
Dec-13
Jan-14
Sep-13
Oct-13
Aug-13
AAA 35%
Asset Allocation:
AA+ 1%
AA 61% 94%
Cash
Portfolio Composition:
Dec 13 Jan 14 Commercial Paper
Commercial Paper 8% 4%
Other Including receivables
Cash 90% 94%
Other Including receivables 2% 2%
2%
4%
WWF Disclosure: The Scheme has maintained provisions against Workers Welfare Funds liability to the tune of
Rs.51.34mn. If the same were not made the NAV per unit/return of the Scheme would be higher by Rs.0.49/0.98%.
For details investors are advised to read Financial Statements of the Scheme.
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)
MEEZAN SOVEREIGN FUND (MSF) January, 2014
INCOME
AMC RATING AM2 (STABLE OUTLOOK)
Fund Review
Net assets of Meezan Sovereign Fund (MSF) stood at Rs. 20.36 billion as on January 31, 2014. For the month of January, the fund has provided
an annualized return of 7.82% as compared to its benchmark which has provided an annualized return of 6.59% during the same period.
Nov-13
Jul-13
Dec-13
Jan-14
Sep-13
Oct-13
Aug-13
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)
CAPITAL PROTECTED
MEEZAN CAPITAL PROTECTED FUND (MCPF-II) January, 2014
Fund Review:
For the month of January 2014, MCPF-II provided a return of 1.2%. The net assets of Meezan Capital Protected Fund (MCPF-II) have grown to
Rs. 517 million as on January 31, 2014.
returns by participating in the equity market. MCPF-II 1.2% 4.8% 4.8% 7.2% 13.5% - - 40.2% 14.0%
Funds
Fund Details
Details:
Benchmark 1.3% 4.4% 4.4% 7.4% 15.9% - - 38.6% 13.5%
* Performance start date of Jul 5, 2011, CAGR since inception
Fund Type: Open End
Risk Level Minimal Annual Returns:
Launch Date 5-Jul-11
Trustee CDC
KPMG Taseer Hadi FY13 FY12 FY11 FY10 FY09 FY08 FY07 FY06
Auditors
& Co.
Registrar Meezan Bank Ltd. MCPF-II 15.2% 13.5% - - - - - -
Unit Types A, B,C and D
Management Fee 1.5% Benchmark 17.9% 9.5% - - - - - -
Front End Load 3%
Fund Category Capital Protected
Back End Load Contingent Load
Benchmark Combination of
Portfolio: Salient Features
KMI-30 Index and
Average return 100% Capital Protection.
on 6-month Islamic
bank deposits Optimal Halal returns while remaining in Capital
Leverage Nil Protection structure.
Listing ISE Tax exempt returns (under applicable Tax Laws)
Key Benefits
AMC Rating AM2 Tax Credit ( as per Tax Law)
Rating Agency JCRVIS
Professional Fund Management by the largest asset
Pricing Mechanism Forward
management company in private sector in Pakistan
Valuation Days Mon-Fri
Subscription/ Redemption Days Mon-Fri 9am 3pm
Fund Manager Ahmed Hassan, CFA Capital Protection Segment
Members of M. Shoaib, CFA Approximately 75.5% of the Fund would be allocated
Investment Committee Muhammad Asad to Capital Protection Segment which will grow to
Sanam Zaib, CFA initial investment, at maturity of life of the Fund. The
investment will be made in 'AAA' rated Government
Ahmed Hassan, CFA
of Pakistan Ijarah Sukuk.
Dr. Gohar Rasool Investment Policy
Zain Malik and Strategy Investment Segment
24.5% of the Fund would be allocated to Investment
Fund Net Assets: Segment that is expected to provide the upside over
and above principal at the time of maturity. This
Dec '13 Jan '14 MoM % Jul' 11 amount will be invested in Shariah compliant equity
Net Assets (Rs mn) 511 517 1.20% 306 securities listed on Pakistani Stock Exchanges.
NAV Per Unit (Rs) 55.37 56.05 1.22% 50.28
Asset Allocation:
Asset Allocation: 76.3%
GoP Guaranteed Securities (%) 76.3
Equity (%) 13.3
Equity
Cash (%) 8.5
Other Including receivables (%) 1.9 GoP Guaranteed Securities
Cash
13.3%
1.9% 8.5%
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. 1.34mn, if the same were not made the NAV per unit/return of
the fund would be higher by Rs.0.15/0.26%. 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)
MEEZAN TAHAFFUZ PENSION FUND (MTPF) January, 2014
PENSION
AMC RATING AM2 (STABLE OUTLOOK)
Fund Review:
As at January 31, 2014, total size of net assets of Meezan Tahaffuz Pension Fund (MTPF) stood at Rs. 2,159 million. For the month of January,
the NAV of equity sub fund increased by 5.77% while the NAV of debt and money sub funds provided an annualized return of 6.64% and 6.43%
respectively.
1.9%
GoP Ijarah Sukuks X 26.53% 53.3% Other Including receivables
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. 8.09mn (Equity), Rs. 1.26mn (Debt) and Rs. 0.45mn (MMKT), if the
same were not made the NAV per unit/return of the fund would be higher by Rs. 2.24/0.74% (Eq.), Rs. 0.28/0.16% (Dt.) and Rs. 0.29/0.16 (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)
INDEX TRACKER
KSE-MEEZAN INDEX FUND (KMIF) January, 2014
AMC RATING AM2 (STABLE OUTLOOK)
Fund Review:
The fund was launched on May 23, 2012. As at January 31, the net assets of KSE-Meezan Index Fund (KMIF) stood at Rs. 1,057 million. For the
month of January 2014, KMIF provided a return of 3.9%.
opportunity to track closely the performance of the KMIF 3.9% 13.1% 6.9% 18.4% 43.8% - - 73.0%
KSE-Meezan Index 30 (KMI 30) by investing in Benchmark 4.1% 14.2% 8.4% 20.4% 48.8% - - 82.4%
* Performance start date of May 23, 2012.
companies of the Index in proportion to their
weightages. Annual Returns:
Fund Details:
Fund Type: Open End FY13 FY12 FY11 FY10 FY09 FY08 FY07 FY06
Risk Level High KMIF 49.6% -2.4%* - - - - - -
Launch Date 23-May-12
Trustee CDC Benchmark 54.4% -1.9% - - - - - -
KPMG Taseer Hadi
Auditors * 38 days of operations.
& Co.
Registrar Meezan Bank Ltd.
Unit Types A and B
Funds Performance:
Management Fee 1% 190
KMIF Benchmark
Front End Load 2%
Fund Category Index Tracker Scheme
Back End Load Nil 170
Leverage Nil
Listing ISE
AMC Rating AM2 150
Rating Agency JCRVIS
Pricing Mechanism Forward
Benchmark KMI-30 Index 130
Valuation Days Mon-Fri
Subscription/ Redemption Days Mon-Fri 9am 1pm
110
Fund Manager Dr. Gohar Rasool
Nov-13
Jul-12
Jul-13
Feb-13
May-13
Mar-13
Dec-12
Jan-13
Dec-13
Jan-14
Sep-12
Oct-12
Sep-13
Oct-13
Jun-12
Jun-13
Apr-13
Aug-12
Aug-13
Sanam Zaib, CFA
Ahmed Hassan, CFA
Dr. Gohar Rasool
Zain Malik
Top Ten Equity Holdings:(% of Total Assets):
Oil & Gas Development Co. Ltd. 12% Lucky Cement Ltd. 7%
Fund Net Assets: Pakistan Petroleum Ltd. 12% Pakistan State Oil Co. Ltd. 6%
Fauji Fertilizer Co. Ltd. 11% Nishat Mills Ltd. 4%
Dec '13 Jan '14 MoM % Jul' 11
Pakistan Oilfields Ltd. 306 10% DG Khan Cement Co. Ltd. 4%
Net Assets (Rs mn) 1,020 1,057 3.71%
The Hub Power Co. Ltd. 9% K-Electric Ltd. 3%
NAV Per Unit (Rs) 65.58 68.13 3.89% 50.28
Sector Allocation:
Assets Allocation: Oil & Gas
44%
Chemicals
Dec '13 Jan '14 10%
Equity (%) 98.8 98.9 Construction and Materials
Cash (%) 0.4 0.7 Electricity
0.8 0.4 14%
Other Including receivables (%)
4% Personal Goods
12%
16% 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.
Effective from January 1, 2013, the Fund has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 8.27mn, if the same were not made the NAV per unit/return of the fund would
be higher by Rs. 0.53/0.78%. 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)
Meezan Financial Planning Fund of Funds (MFPFOF)
FUND OF FUNDS
January, 2014
(i) The above percentages may vary on account of market factors and
NAV per unit: investments in Cash / Near cash instruments as permitted for the Fund of
Funds Category, as per SECP directive from time to time.
Rs Dec '13 Jan '14 MoM% (ii) The above mentioned allocations shall be rebalanced at a frequency
described in Offering document.
Aggressive 58.5 60.3 3.1% (iii) The Management Company may invest between 0% to 10% (both
Moderate 55.9 57.3 2.4% percentages being inclusive) of the Allocation Plan in Cash/ near Cash
Conservative 54.4 55.3 1.5% instruments permitted for the fund of funds category
WWF Disclosure: The Scheme has maintained provisions against Workers Welfare Funds liability
to the tune of Rs.1.14mn (Aggressive), Rs. 0.51mn (moderate) and Rs.0.65mn (Conservative). If the
same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.24/0.40%
(Aggressive), Rs. 0.19/0.33% (Moderate) and Rs. 0.12/0.21% (Conservative). For details, investors are
advised to read Financial Statements of the Scheme.
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)
BALANCED
MEEZAN BALANCED FUND (MBF) January, 2014
Fund Review:
Net assets of Meezan Balanced Fund (MBF) as at January 31, 2014 stood at Rs. 1.79 billion. The funds NAV increased by 3.2% during the
month.
Investment Objective:
Funds Details Performance - Cumulative Returns:
The objective of Meezan Balanced Fund is to generate
long term capital appreciation as well as current 1M 3M 6M FYTD 1Yr 3Yr 5Yr PSD* CAGR*
income by creating a balanced portfolio that is invested
both in high quality equity securities and Islamic MBF 3% 9% 6% 12% 28% 81% 248% 315% 17%
Income Instruments such as TFCs, COIs, Certificates of Benchmark 2% 8% 5% 12% 27% 63% 231% 183% 12%
Musharika, Islamic Sukuk, Ready-future hedges, and * Performance start date of Dec 20, 2004, CAGR since inception
other Shariah compliant instruments.
Annual Returns:
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)