NBP Islamic Mahana Amdani Fund Report - December 2020

Transcription

1. NBP ISLAMIC MAHANA AMDANI FUND (NIMAF) December 2020 MONTHLY REPORT (MUFAP's Recommended Format) Unit Price (31/12/2020): Rs.10.3662 Performance % Dec-2020 FYTD - 2021 Rolling 12 Months FY - 2020 Since Launch October 6, 2018* NBP ISLAMIC MAHANA AMDANI FUND 6.2% 6.4% 8.1% 11.3% 9.8% BENCHMARK 3.4% 3.9% 5.2% 6.3% 5.0% Performance Period * Annualized Return Based on Morning Star Methodology. All other returns are Annualized Simple Return. The performance reported is net of management fee & all other expenses and based on dividend reinvestment gross of with-holding tax where applicable. General Information Launch Date: Fund Size: Type: Dealing Days: Dealing Time: Settlement: Pricing Mechanism: Load: Management Fee: Total Expense Ratio: Selling & Marketing Expenses: Risk Profile / Risk of principal erosion: Fund Stability Rating: Listing: Custodian & Trustee: Auditors: Benchmark: Fund Manager: Minimum: Subscription: Asset Manager Rating: Investment Objective October 6, 2018 Rs. 17,715 million Open-end – Shari'ah Compliant Income Fund Daily – Monday to Friday (Mon - Thr) 9:00 A.M to 5:00 P.M (Friday) 9:00 A.M to 5:30 P.M 2-3 business days Forward Pricing Front End Load (Individual with takaful coverage):Amount upto Rs.5 million: 3%, Amount over and above Rs.5 million and up to Rs.50 million: 1%,Amount exceeding Rs.50 million, load will be charged on Rs.5 million: 3% Front End Load (others): 1% (Nil if amount greater than 50 million), Back end Load: 0% To provide monthly income to investors by investing in Shariah Compliant money market and debt avenues. 1.5% of Net Income (Min 0.2%, Max 1.5% p.a.) w.e.f 12-July-2019 0.2% p.a. of average net assets during the month 1.31% (including 0.19% government levies) 0.7% p.a Medium / Principal at medium risk We will re-balance the allocation of the Fund proactively based on the capital market outlook. ‘A(f)’ by PACRA Pakistan Stock Exchange Central Depository Company (CDC) A. F. Ferguson & Co. Chartered Accountants 6-month average deposit rates of three A rated Islamic Banks/Islamic windows of conventional banks as selected by MUFAP Muhammad Ali Bhabha, CFA, FRM Growth Unit: Rs. 10,000/Income Unit: Rs. 100,000/AM1 by PACRA (Very High Quality) Asset Allocation (% of Total Assets) Placement with Banks and DFIs (Islamic) GOP Ijara Sukuk Government backed security Sukuk Commercial Paper (Islamic) Certificate of Musharika (COM) Bank Deposits Others including Receivables Total Leverage 31-Dec-20 23.0% 6.6% 6.0% 8.1% 9.6% 5.5% 40.2% 1.0% 100.0% Nil 30-Nov-20 29.9% 11.3% 7.1% 8.5% 8.2% 5.8% 28.3% 0.9% 100.0% Nil Fund Manager Commentary The Fund generated an annualized return of 6.2% p.a. in December 2020 versus the Benchmark return of 3.4% p.a. This reported return is net of management fee and all other expenses. The Fund aims to provide monthly income to investors by investing in Shariah Compliant money market and debt avenues. Minimum eligible rating is A-, while the Fund is allowed to invest with Islamic Banks, Islamic branches / windows of conventional banks providing easy liquidity. The Fund is allowed to invest in Shariah Compliant Money Market instruments & debt securities rated A- or better. The Fund is not authorized to invest in Equities. The weighted average time to maturity of the Fund cannot exceed 4 years excluding government securities. Around 44% of net assets of the Fund are invested in bank deposits which enhances the liquidity profile of the Fund. The weighted average time to maturity of the Fund is 1.3 years. Credit Quality of the Portfolio as of December 31 , 2020 (% of Total Assets) Government securities (AAA rated) AAA AA+ AA AAA+ AUnrated Others including Receivables Total 12.6% 19.4% 13.7% 9.7% 3.8% 19.7% 20.0% 0.1% 1.0% 100.0% Name of the Members of Investment Committee Dr. Amjad Waheed, CFA Sajjad Anwar, CFA Asim Wahab Khan, CFA Muhammad Ali Bhabha, CFA, FRM Hassan Raza, CFA Dispute Resolution / Complaint Handling Complaint Service : www.nbpfunds.com/contact-us/investor-relations SECP’s Service Desk Management System: sdms.secp.gov.pk Top Sukuk (as at December 31 , 2020) (% of Total Assets) HUBCO Rev 19-MAR-20 19-MAR-24 3.4% Hub Power Holding Limited 12-NOV-20 12-NOV-25 2.4% KE Suk 03-AUG-20 03-AUG-27 2.2% Sindh Workers' Welfare Fund (SWWF) The scheme has maintained provisions against Sindh Workers' Welfare Fund's liability to the tune of Rs. 56,036,663/-. If the same were not made the NAV per unit/last one year return of scheme would be higher by Rs. 0.0328/.34%. For details investors are advised to read note 6 of the latest financial statements of the Scheme. 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 Document to understand investment policies and the risks involved. Page 06