Front Page Conventional-april

AMC Rating : AM2- by JCR-VIS
FUND MANAGER’S REPORT
(Conventional Funds)
April 2015
Disclaimer: Past results are not indicative of future performance. This report should not be considered an offer to buy or
sell, or solicitation. The information contained herein has been compiled from sources believed to be reliable. This
information is being circulated for information purposes only and may not be copied or distributed to any other person
without the prior written permission of HBL Asset Management Co.
Fund's Manager's Report Apr 2015
30-Apr-15
Fund Manager's Commentary
During the month under review, HBL MMF Fund posted a return of 8.06% (MoM) against the benchmark return of 6.82% thereby outperforming the benchmark by 24bps. On YTD basis
the fund outperformed its benchmark by 10 bps by posting a return of 8.35% against the benchmark return of 8.25%. During the month the fund reduced its exposure in TDRs from
30.86% to 5.84%. By the end of Apr'15, the total T-bills exposure stood at 82.15%. The fund's weighted average maturity at the end of month stood at 68.23 days as compared to
76.24 days in Mar'15.
Fund Returns (%)
0.03%
0.03%
8.08%
9.28%
11.53%
n/a
0.02%
0.00%
8.46%
8.49%
8.49%
n/a
n/a
n/a
Daily Average Return (Since Inception)
Standard Deviation (Since Inception)
Annualized Return FY-14
Annualized Return FY-13
Annualized Return FY-12
Annualized Return FY-11
Net Assets
Rs. 8.363 billion (30-Apr-15)
NAV
Launch Date
Management Fee
PKR 107.3742
12-Jul-10
1% p.a
Listing
Lahore Stock Exchange
* Returns have been calculated as per MUFAP's formula
Trustee
Central Depository Co. of Pakistan
HBL Money Market Fund Vs Benchmark (MoM Returns)
Auditor
Benchmark
Type
Category
Front end Load
Back end Load
AMC Rating
KPMG Taseer Hadi & Co.
50% 3M PKRV & 50% 3M Deposit
Open End
Money Market Scheme
Nil
Nil
AM2- ( by JCRVIS)
Annualized Return FY-10
Investment Committee
Rehan N. Shaikh, Amir Khan
Naseer Ladhani, Fahad Aziz
Provision against WWF liability
* The scheme has maintained provisions against Worker Welfare Fund's
liability to the tune of PKR 77.973 mn if the same were not made, the
NAV per unit/return would be higher by Rs. 0.96/0.88%.
Asset Quality Portfolio (As at 30-Apr-15)
AA+
2.52%
AA
3.61%
Apr-15
Nov-14
Oct-14
Benchmark
Sep-14
Aug-14
Jul-14
Jun-14
Apr-14
May-14
Mar-14
Jan-14
Monday-Friday
9:00 AM-3:00 PM (Mon-Fri)
Forward Pricing
AA(f) (JCR VIS) Credit Rating
Company Limited
Leverage
Nil
Weighted Average time to Maturity 68.23 Days
HBL-MMF
Feb-14
Dealing Days
Cut off time
Price Mechanism
Fund Stability Rating
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
Mar-15
Fund Facts
Benchmark
9.29%
8.25%
7.49%
6.82%
7.20%
7.86%
8.34%
Feb-15
Competitive returns
No front end or back end load
HBL-MMF*
11.89%
8.35%
7.85%
8.06%
7.50%
8.13%
8.43%
Jan-15
Investment Features
Hassle-free investment
Annualized Return Since Inception
Year to Date Annualized Return
Calendar Year to Date Annualized Return
1 Month Annualized Return
3 Month Annualized Return
6 Month Annualized Return
1 Year Annualized Return
Dec-14
Investment Objective
The objective of the Fund is to seek high liquidity and
comparative return for investors by investing in low risk
securities of shorter duration and maturity
Asset Allocation (% of Total Assets)
Apr'15
Mar'15
Cash
T-Bills
Term Deposit Receipts
Others Including receivables
Investment in Reverse Repo
10.95%
82.15%
5.84%
1.07%
0.00%
1.76%
67.18%
30.86%
0.20%
0.00%
Risk Level (Low)
AAA
10.65%
Non Rated
1.07%
MODERATE
LOW
HIGH
Government
Securities
82.15%
MUFAP's Recommended Format
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. The NAV based prices of units and any dividends/returns thereon are dependent on forces 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.
Fund's Manager's Report Apr 2015
30-Apr-15
Fund Manager's Commentary
During the month under review HBL Income Fund generated a monthly annualized return of 15.93% against the benchmark return of 7.88% outperforming the benchmark by 8.05%. The
Fund's YTD return through April stood at 13.38% against the benchmark return of 9.40% showing an outperformance of 3.98%. During the month the fund reduced its exposure in PIBs
from 35.67% in Mar'15 to 22.67% by the end of Apr'15. The Fund also reduced its exposure in T-bills from 51.88% in Mar'15 to 42.89$ in Apr'15. By the end of Apr'15, weighted average
maturity of the fund stood at 1.42 Years.
Fund Returns (%)
Daily Average Return (Since Inception)
Standard Deviation (Since Inception)
Annualized Return FY-14
Annualized Return FY-13
Annualized Return FY-12
Annualized Return FY-11
0.03%
0.21%
9.91%
7.70%
12.34%
13.44%
0.03%
n/a
9.82%
9.92%
12.37%
13.18%
Annualized Return FY-10
13.60%
n/a
12.44%
n/a
Net Assets
Rs. 4.186 billion (30-Apr-15)
NAV
Launch Date
Management Fee
PKR 112.6193*
15-Mar-07
1.5% p.a
Listing
Lahore Stock Exchange
* Returns have been calculated as per MUFAP's formula
Trustee
Central Depository Co. of Pakistan
HBL Income Fund Vs KIBOR 6 Month (MoM Returns)
Auditor
Benchmark
Type
Category
Front end Load
Back end Load
AMC Rating
KPMG Taseer Hadi & Co.
6 Month KIBOR
Open End
Income Scheme
Nil
Nil
AM2- ( by JCRVIS)
Name of Non-Compliant
Investment (In Millions PKR)
New Allied Electronics
New Allied Electronics
Agri Tech Limited
Saudi Pak Leasing Company Ltd.
Worldcall Telecom Limited
Type of Investment
Apr-15
Mar-15
Jan-15
Sep-14
Jul-14
Aug-14
Jun-14
May-14
Apr-14
Feb-14
Mar-14
Jan-14
0.00%
0.00%
Agri Tech Limited
0.00%
New Allied Electronics
0.00%
0.54%
0.78%
Value before Provision
provision
Held
New Allied Electronics SK
AA+
0.15%
Below
Investment
Grade
0.54%
Risk Level (Moderate)
MODERATE
Saudi Pak Leasing Co.
Ltd.
Government
Securities
65.55%
Maple leaf Cement
Fact.-SK
AA
4.06%
Engro Chemical.
Pakistan Ltd-PII
Non Rated
5.19%
3.0%
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%
0.80%
AAA
15.19%
Top Ten TFC Holding (% of Total Assets)
Bank Al Habib Limited
A0.00%
1.26%
0.00%
8.48%
35.67%
51.88%
0.00%
2.70%
2.10%
A+
0.00%
Mar'15
21.62%
0.00%
7.64%
22.67%
42.89%
0.00%
5.19%
0.95%
AA9.32%
Apr'15
WAPDA
Asset Quality Portfolio (As at 30-Apr-15)
KIBOR 6 Month
Asset Allocation (% of Total Assets)
Standard Chartered
Bank Pakistan Ltd.
* The scheme has maintained provisions against Worker Welfare
Fund's liability to the tune of PKR 29.406 mn if the same were not
made, the NAV per unit and return would be higher by Rs. 0.79 and
0.69% respectively.
HBL-IF
Cash
Term Deposit Receipts
TFC's
PIBs
T-Bills
Ijara Sukuk
Others Including receivables
2.48%
Monday-Friday
9:00 AM-3:00 PM (Mon-Fri)
Forward Pricing
A(f) (JCR VIS Credit Rating)
Company Limited)
Leverage
Nil
Weighted Average time to Maturity 1.42 Years
Investment Committee
Rehan N. Shaikh, Amir Khan
Naseer Ladhani, Fahad Aziz
Provision against WWF liability
Engro Chemical.
Pakistan Ltd-PI
Dealing Days
Cut off time
Price Mechanism
Fund Stability Rating
20.0%
18.0%
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
Feb-15
Fund Facts
Benchmark
11.11%
9.40%
8.44%
7.88%
8.19%
8.89%
9.53%
Dec-14
Optimum returns
No front end and back end load
HBL-IF*
15.14%
13.38%
13.28%
15.93%
11.29%
14.73%
13.11%
Oct-14
Investment Features
Easy encashability
Annualized Return Since Inception
Year to Date Annualized Return
Calendar Year to Date Annualized Return
1 Month Annualized Return
3 Month Annualized Return
6 Month Annualized Return
1 Year Annualized Return
Nov-14
Investment Objective
The objective of the Fund is to provide a stable stream of
income with moderate level of risk by investing in fixed
income securities
Value of Investment
after Provision
LOW
HIGH
MUFAP's Recommended Format
Total percentage of top 10 TFCs is 7.64%
% of Net
Assets
% of Gross Assets
TFC
Sukuk
TFC
19.02
44.15
9.99
19.02
44.15
9.99
1
1
-
-
-
TFC
TFC
5.55
47.77
5.55
47.77
-
-
-
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. The NAV based prices of units and any dividends/returns thereon are dependent on forces 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.
Fund's Manager's Report Apr 2015
30-Apr-15
Fund Manager's Commentary
in PSMC and INDU which rallied by 24% and 20% respectively driven by outstanding earnings growth due to the weaker JPY. Additional outperformance came from positions in the cement sector,
market may behave volatile in tandem with news flow related to FY16 budget-related proposals.
Fund Returns (%)
0.03%
0.96%
23.75%
37.60%
12.67%
23.55%
0.04%
0.60%
25.49%
31.06%
11.41%
20.86%
Return FY-10
19.17%
24.09%
Net Assets
Rs. 765.075 million (30-Apr-15)
NAV
Launch Date
Management Fee
PKR 99.0427*
14-Dec-07
2% p.a
Listing
Lahore Stock Exchange
* Returns have been calculated as per MUFAP's formula
Trustee
Central Depository Co. of Pakistan
HBL Multi Asset Fund Vs Benchmark MoM Returns
Auditor
Benchmark
Type
Category
Front end Load
Back end Load
AMC Rating
KPMG Taseer Hadi & Co.
50% KSE100 & 50% 6Month KIBOR
Open End
Balanced Scheme
2.0%
Nil
AM2- ( by JCRVIS)
Dealing Days
Cut off time
Price Mechanism
Fund Stability Rating
Monday-Friday
9:00 AM-3:00 PM (Mon-Fri)
Forward Pricing
A(f) (JCR VIS Credit Rating
Company Limited
Nil
Rehan N. Shaikh, Amir Khan, Samia Aslam, CFA
Naseer Ladhani
Provision against WWF liability
* The scheme has maintained provisions against Worker Welfare Fund's
liability to the tune of PKR 9.152 mn if the same were not made, the NAV
per unit and return would be higher by Rs. 1.18 and 1.17% respectively.
Sector Allocation (% of Total Assets)
Power generation & dist.
Commercial Banks
Cement
Fertilizers
Others
Food & Personal Care
Products
Automobile Assembler
Mar'15
3.29%
5.91%
11.70%
11.75%
13.17%
9.51%
8.76%
7.86%
6.99%
Saudi Pak Leasing Company Ltd.
Dewan Cement Limited
Benchmark
6.00%
4.00%
2.00%
0.00%
-2.00%
-4.00%
-6.00%
Type of Investment
TFC
TFC
Apr-15
Mar-15
Feb-15
Jan-15
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
-8.00%
Asset Allocation (% of Total Assets)
Apr'15
Mar'15
Cash
TFCs
Stock/Equities
T-Bills
Others Including receivables
Investment in PIBs
2.33%
5.55%
68.20%
15.19%
1.86%
6.88%
0.84%
6.09%
61.58%
17.26%
7.06%
7.16%
Top Ten Holding (30-Apr-15)
Apr'15
8.41%
11.07%
7.62%
9.17%
14.56%
Name of Non-Compliant
Investment (In Millions PKR)
HBL-MAF
8.00%
Jan-14
Leverage
Investment Committee
10.00%
Dec-14
Fund Facts
Daily Average Return (Since Inception)
Standard Deviation (Since Inception)
Return FY-14
Return FY-13
Return FY-12
Return FY-11
Nov-14
Diversified Balanced Portfolio
No minimum holding period
Benchmark
112.34%
10.79%
3.89%
6.11%
-0.01%
7.74%
13.10%
Oct-14
Investment Features
Easy encashability
HBL-MAF*
89.59%
3.76%
2.83%
7.94%
-1.39%
2.77%
2.17%
Cumulative Return Since Inception
Year to Date Return (Cumulative)
Calendar Year to Date Return (Cumulative)
1 Month Cumulative Return
3 Month Cumulative Return
6 Month Cumulative Return
1 Year Cumulative Return
Sep-14
Investment Objective
The objective of the Fund is to provide long-term capital growth
and income by investing in multiple asset classes such as equity,
equity related instruments, fixed income securities, Continuous
Funding System, Derivatives and money market instruments etc
Engro Corporation Limited
National Foods
Habib Bank Limited
Synthetic Products Enterprises Limited
Pak Suzuki Motor Co. Limited
Engro Foods
Indus Motor Company Ltd
Hub Power Company Limited
Kot Addu Power Company Limited
Maple Leaf Cement Factory
Risk Level (Moderate/High)
5.85%
5.60%
5.18%
4.17%
4.12%
3.91%
3.74%
3.55%
3.52%
3.46%
MODERATE
LOW
HIGH
MUFAP's Recommended Format
Value before
provision
Provision Held
Value of Investment
after Provision
15.20
25.00
15.20
25.00
1
0
% of Net
Assets
0.00%
0.00%
% of Gross
Assets
0.00%
0.00%
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. The NAV based prices of units and any dividends/returns thereon are dependent on forces 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.
Fund's Manager's Report Apr 2015
30-Apr-15
Fund Manager's Commentary
Our overweight position in EFOODS paid off well as the stock gained 29% MTD on the back of substantial recovery in earnings during 1QCY15 driven by weak milk powder prices combined with
related proposals.
Investment Objective
Fund Returns (%)
The objective of the Fund is to provide long-term capital growth
by investing primarily in a diversified pool of equities and equity
related instruments.
Investment Features
Easy encashability
Diversified Equity Portfolio
No exit load
Fund Facts
Cumulative Return Since Inception
Year to Date Return (Cumulative)
Calendar Year to Date Return (Cumulative)
1 Month Cumulative Return
3 Month Cumulative Return
6 Month Cumulative Return
1 Year Cumulative Return
HBL-SF
110.18%
7.57%
3.99%
11.94%
-1.85%
7.04%
4.82%
Benchmark
176.15%
13.75%
4.98%
11.56%
-2.07%
11.04%
16.66%
Daily Average Return (Since Inception)
Standard Deviation (Since Inception)
Since Inception (CAGR)
Return FY-14
Return FY-13
Return FY-12
0.05%
1.03%
10.17%
27.40%
44.42%
11.00%
0.06%
1.21%
14.16%
41.16%
52.20%
10.45%
Return FY-11
Return FY-10
28.19%
19.52%
28.53%
35.74%
Net Assets
Rs. 4.390 billion (30-Apr-15)
NAV
Launch Date
Management Fee
PKR 113.1796*
27-Aug-07
2% p.a
Listing
Trustee
Lahore Stock Exchange
Central Depository Co. of Pakistan
* Returns have been calculated as per MUFAP's formula
Auditor
KPMG Taseer Hadi & Co.
HBL Stock Fund Vs KSE 100 Index (MoM Returns)
Benchmark
Type
Category
Front end Load
Back end Load
AMC Rating
KSE 100 Index
Open End
Equity Scheme
2.5%
Nil
AM2- ( by JCRVIS)
15.00%
KSE 100 Index
HBL-SF
10.00%
5.00%
0.00%
-5.00%
-10.00%
Apr-15
Mar-15
Jan-15
Feb-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
-15.00%
Jan-14
Dealing Days
Monday-Friday
Cut off time
9:00 AM-3:00 PM (Mon-Fri)
Price Mechanism
Forward Pricing
Leverage
Nil
Investment Committee
Rehan N. Shaikh, Amir Khan, Samia Aslam, CFA
Naseer Ladhani
Provision against WWF liability
Asset Allocation (% of Total Assets)
Apr'15
Mar'15
* The scheme has maintained provisions against Worker Welfare Fund's
liability to the tune of PKR 52.767 mn if the same were not made, the NAV
per unit would be higher by Rs. 1.36/1.18%.
Cash
Stock/Equities
T-Bills
Others Including receivables
3.12%
95.96%
0.91%
2.50%
93.07%
4.42%
Sector Allocation (% of Total Assets)
Oil & Gas Marketing Co.
Commercial Banks
Fertilizers
Power Generation & Dist.
Other Equities
Food & Personal Care
Products
Cement
Automobile Assembler
Apr'15
6.30%
15.03%
11.31%
16.86%
13.84%
Mar'15
7.21%
7.70%
12.99%
15.17%
11.18%
12.57%
13.64%
9.60%
10.46%
15.54%
9.64%
Name of Non-Compliant
Investment (In Millions PKR)
Dewan Cement Limited
Type of Investment
TFC
Top Ten Holding (30-Apr-15)
%
Habib Bank Limited
Engro Corporation
National Foods
Hub Power Company Limited
Engro Foods
Pak Suzuki Motor Co. Limited
Indus Motor Company Ltd
Maple Leaf Cement Factory
Kot Addu Power Company Limited
Pakistan State Oil
8.23%
7.05%
6.97%
6.74%
5.60%
5.25%
5.21%
4.76%
4.45%
4.39%
Value before
provision
Provision
Held
Value of Investment
after Provision
25.00
25.00
0
Risk Level (High)
MODERATE
LOW
HIGH
MUFAP's Recommended Format
% of Net
Assets
0.00%
% of Gross
Assets
0.00%
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. The NAV based prices of units and any dividends/returns thereon are dependent on forces 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.
Fund's Manager's Report Apr 2015
30-Apr-15
Fund Manager's Commentary
easing on the cards. However, towards the end of next month the market may behave volatile in tandem with news flow related to FY16 budget-related
proposals.
Investment Objective
Fund Returns (%)
The primary objective of HBL - MSF 1 is to protect the Initial
Investment Value of investors at maturity with secondary
objective of providing growth over the period
Investment Features
100% Capital preservation if held till maturity
Competitive/Stable Returns
Fund Facts
Cumulative Return Since Inception
Year to Date Return (Cumulative)
Calendar Year to Date Return (Cumulative)
1 Month Cumulative Return
3 Month Cumulative Return
6 Month Cumulative Return
1 Year Cumulative Return
Daily Average Return (Since Inception)
Standard Deviation (Since Inception)
Return FY-14
Return FY-13
Return FY-12
Return FY-11
HBL-MSF 1
0.84%
0.84%
NA
0.62%
NA
NA
NA
Benchmark
2.29%
2.29%
NA
2.15%
NA
NA
NA
0.03%
0.06%
n/a
n/a
n/a
n/a
0.09%
0.21%
n/a
n/a
n/a
n/a
n/a
n/a
Net Assets
Rs. 1.932 Billion (30-Apr-15)
NAV
Launch Date
Management Fee
PKR 100.8398
27-Mar-15
1.50% p.a
YTD & MTD return as of Since inception of fund
Listing
Lahore Stock Exchange
* Returns have been calculated as per MUFAP's formula
Trustee
Central Depository Co. of Pakistan
HBL Mustahekum Sarmaya Fund Vs benchmark (MoM Returns)
Auditor
Benchmark
Type
Category
Front end Load
Back end Load
AMC Rating
KPMG Taseer Hadi & Co.
MSF 1*
Open End
Capital Protected Scheme
2.0%
3.0%
AM2- ( by JCRVIS)
Dealing Days
Cut off time
Price Mechanism
Fund Stability Rating
Leverage
Investment Committee
Monday-Friday
9:00 AM-3:00 PM (Mon-Fri)
Forward Pricing
N/A
Nil
Return FY-10
Rehan N. Shaikh, Amir Khan
Naseer Ladhani, Emmad Hashmi
Provision against WWF liability
* The scheme has maintained provisions against Worker Welfare
Fund's liability to the tune of PKR 0.27 mn if the same were not made,
the NAV per unit/return would be higher by Rs. 0.014/0.01%.
2.5%
HBL-MSF 1
Benchmark
2.0%
1.5%
1.0%
0.5%
Mar-15
Apr-15
0.0%
Asset Allocation (% of Total Assets)
Apr'15
Mar'15
Cash
Term Deposit Receipts
Others Including receivables
Investment in Equities
3.22%
89.23%
0.84%
6.71%
10.06%
89.71%
0.22%
0.00%
MSF1* = Weighted Average Daily Return of KSE-100 Index and Three (3) Months Deposit Rate of Double A minus (AA-) or above rated Banks
Asset Quality Portfolio (As at 30-Apr-15)
Risk Level (Low)
AA+, 0.30%
Equities,
6.71%
Non Rated,
0.84%
AAA,
92.15%
MODERATE
LOW
HIGH
MUFAP's Recommended Format
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. The NAV based prices of units and any dividends/returns thereon are dependent on forces 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.
Fund's Manager's Report Apr 2015
30-Apr-15
Fund Manager's Commentary
DF: In the prevailing context of falling yields, we remained intact with the strategy of staying invested in government securities. At the end of month Fund investment in government Securities
stood at 84.01% of the fund size. The Fund's return for the month of Apr'15 stood at 22.59% p.a.
MMF: The fund's monthly return stood at 7.05% p.a. We remain intact with the strategy to stay invested in government securities in the prevalent environment of declining yields. At the end of
the month Fund investment in government securities stood at 92.44% of the fund size.
SF:
However, towards the end of next month the market may behave volatile in tandem with news flow related to FY16 budget related proposals.
Investment Objective
Fund Returns (%)
To provide a secure source of savings and regular income
after retirement to the Participants
Return Since Inception
Year to Date Return
Calendar Year to Date Return
1 Month Return
3 Month Return
6 Month Return
1 Year Return
Investment Features
Hassle-free investment
Competitive returns
Flexible allocation schemes
Daily Average Return (Since Inception)
Standard Deviation (Since Inception)
Return FY-14
Return FY-13
Return FY-12
Return FY-11
Fund Facts
Launch Date
16-Dec-11
Management Fee
Trustee
Auditor
1.5% p.a
Central Depository Co. of Pakistan
KPMG Taseer Hadi & Co.
Type
Category
Open End
Pensions Scheme
* Returns have been calculated as per MUFAP's formula
**Equity fund returns are cumulative
Front end Load
Max 3%
Credit Quality-Debt
Debt p.a
10.64%
13.55%
12.66%
22.59%
12.83%
14.16%
12.02%
**Equity
190.95%
30.14%
11.51%
14.42%
3.20%
17.92%
28.36%
MM p.a
8.37%
7.27%
6.95%
7.05%
6.39%
7.20%
7.30%
0.04%
0.07%
7.44%
8.91%
n/a
n/a
0.13%
0.96%
25.56%
45.43%
n/a
n/a
0.03%
0.07%
7.13%
7.92%
n/a
n/a
n/a
n/a
n/a
Return FY-10
Back end Load
Nil
AMC Rating
AM2- ( by JCRVIS)
Dealing Days
Monday-Friday
Cut off time
9:00 AM-3:00 PM (Mon-Fri)
Price Mechanism
Forward Pricing
Investment Committee
Credit Quality-Money Market
AAA
11.10%
TFCs
3.63%
AAA
6.51%
Non Rated
1.26%
AA0.01%
AA
0.00%
Rehan N. Shaikh, Amir Khan, Samia Aslam, CFA
Naseer Ladhani
Fund Size (million) as at 30-Apr-2015
Money Market
Debt
Equity
131.72
142.58
125.25
NAV (PKR)
128.6160
136.3673
290.9517
Leverage
Nil
AA
0.02%
Government
Securities
84.01%
Non Rated
1.01%
Government
Securities
92.44%
Provision against WWF liability
PKR 1.04mn, PKR 0.501 mn, and PKR 0.445 mn respectively. If the same were not made, the NAV per unit/return of
ESF, DSF, and MSF would be higher by Rs. 2.45/0.82%, Rs. 0.48/0.35% and Rs. 0.44/0.33% respectively.
Risk Level
Sector Allocation Equity
Power Generation & Distribution
Automobile Assembler
Commercial Banks
Fertilizers
Oil & Gas Marketing Companies
Cement
Chemicals
Jute
Other Equities
%
15.54%
11.98%
10.39%
8.70%
8.31%
6.58%
5.70%
4.61%
13.22%
%
Top 10 Equities
Engro Corporation
Hub Power Company Limited
Pak Suzuki Motor Co. Ltd.
D.G.K.Cement Company Limited
Pakistan State Oil
ICI Pakistan Limited
Kot Addu Power Company Limited
Indus Motors Co. Ltd
Thal Limited
Synthetic Products Enterprises Limited
8.70%
7.49%
6.73%
6.58%
6.34%
5.70%
5.31%
5.25%
4.61%
4.02%
Asset Allocation
HBL Money Market
30-Apr-15
31-Mar-15
HBL Debt
30-Apr-15
Govt. Securities
Others
Cash
TDR's
92.44%
1.01%
6.54%
0.00%
92.76%
0.10%
7.13%
0.00%
Govt. Securities
Commercial papers
Others
TFCs
Cash
Returns (%)*
Jun-14
Jul-14
Aug-14
Sep-14
HBL-PF MMF*
HBL-PF Debt*
HBL-PF Equity**
7.54%
8.13%
-0.79%
6.75%
7.77%
3.65%
7.07%
8.64%
-6.61%
7.07%
13.14%
8.09%
31-Mar-15
84.01%
91.58%
Equities
Others
Cash
1.26%
3.63%
11.10%
1.01%
4.43%
2.98%
Oct-14
Nov-14
Dec-14
Jan-15
7.29%
17.11%
5.49%
8.20%
19.66%
4.28%
6.80%
13.10%
1.41%
8.45%
11.81%
8.05%
Feb-15
HBL-Equity
30-Apr-15
31-Mar-15
85.02%
10.52%
4.46%
91.85%
1.71%
6.44%
Mar-15
Apr-15
6.17%
5.85%
7.05%
7.57%
7.82%
22.59%
-0.50%
-9.35%
14.42%
MUFAP's Recommended Format
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. The NAV based prices of units and any dividends/returns thereon are dependent on forces 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.
HOW TO INVEST?
Invest as low as Rs. 5,000/= in our Conventional funds
Rs. 500/= in our Pension funds
Three Simple Steps to Invest:
1. Make payment through cheque / demand draft in favor of “CDC-Trustee HBL (Name of fund)”
E.g: CDC-Trustee HBL Money Market Fund
2. Attach the documents as specified in the Account Opening Form
3. Submit the required documents along with payment at our Karachi office, Lahore Office or
Islamabad Office
Karachi Head Office Address
Lahore Office Address
Islamabad Office Address
Tel: (92-21) 111-425-262
Fax: (92-21) 35240634
Tel: (92-42) 36281610
Fax: (92-42) 36281686
Tel: (92-51) 2821183
Fax: (92-51) 2822206
24-C, Khayaban-e-Hafiz, Phase VI,
D.H.A, Karachi
102-103, Upper Mall,
Lahore
HBL Corporate Center, HBL
Building, Jinnah Avenue, Islamabad
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. The NAV based prices of units and any dividends/returns thereon are dependent on forces 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.