Shariah Compliant Funds

NAFA Active Allocation Riba Free Savings Fund

NAFA Active Allocation Riba Free Savings Fund

1. Brief information on the Fund

NAFA Active Allocation Riba Free Savings Fund is a Shariah-compliant Fund launched by NBP Fullerton Asset Management Limited, which aims to earn a reasonable rate of return along with a high degree of liquidity by investing in short-term Shari’ah compliant banks deposits and money market/debt securities.

2. Key benefits

·         Managed by Professional Fund Managers;

·         Tax credit as per the applicable laws;

3. Key features of the Fund

Fund Category / Type

Open Ended Shariah Compliant Income Fund

Investment Objective:

The objective of the Fund is to earn a reasonable rate of return along with a high degree of liquidity by investing in short-term Shari’ah compliant banks deposits and money market/debt securities.

Benchmark:

6-month average deposit rates of three A rated Islamic Banks/Islamic windows of conventional banks as selected by MUFAP

Launch Date:

January 18, 2016

Dealing Days & Cut off Time:

(Monday-Thursday) 09:00 A.M. to 05:00 P.M. (Friday) 09:00 A.M. to 05:30 P.M.

Pricing Mechanism:

Forward Pricing

Fund Stability Rating:

"A-(f)" by PACRA

Risk Profile:

Low

Minimum investment amount:

PKR 10,000/-

Only Fund-of-Funds schemes managed by NBP Fullerton Asset Management Limited may submit applications for the Purchase of Units of the Fund.

Name of the IC Members:

Dr. Amjad Waheed, CFA; Sajjad Anwar, CFA; Muhammad Ali Bhabha, CFA, FRM; Hassan Raza, CFA

4. Fees and charges

* Management fee:

1.25% p.a

Structuring fee - upfront:

Nil

Early exit fee

Nil

5. Service Providers

Regulator:

Securities and Exchange Commission of Pakistan

Shariah Advisory Services:

Shariah Technical Advisor: Meezan Bank
Shariah Advisory Board: Dr. Imran Ashraf Usmani, Mufti Ehsan Waquar Ahmad, Mufti Muhammad Naveed Alam

Listing:

Pakistan Stock Exchange

Auditor:

A.F Fergusons & Co, Chartered Accountants

Trustee and Custodian:

Central Depository Company of Pakistan Ltd. (CDC)

* Taxes apply as per applicable income tax law.

S.No

Description

Entity-Instrument Rating

Min

Max

Max Maturity

1

Shariah Compliant Government Securities

AAA

0%

75%

3 Years

2

Placement of Riba Free Deposits (Excluding term deposits) with Islamic Banks or with Islamic branches/windows of others banks

A-

25%

100%

n/a

3

Placement of Riba Free Deposits with Islamic Banks or with Islamic Branches of other bancks

A-

0%

50% for upto 6 months maturity.

 

15% for more than 6 months

1 Year

4

Shariah Complaint Islamic Money Market Instruments including but not limited to Certificates of Musharika (CoM), Certificates of Deposits (CoD), Certificate of Islamic Investments (COII) issued by Financial Institutions

“A-“ for banks, A for other Institutions

0%`

Non-tradable investment 50% for top up to 6 months maturity.


Non-tradable investment 15% for top up to 6 months maturity.

1 Year

5.

Shariah Compliant Debt Securities

AA-

0%

50%

2 Years

6

Any other securities or instruments that may be permitted or approved under the SECP Rules, Regulations or any other directive and the Shariah Advisor from time to time

A

0%

As specified by the Commission at the time of approval

2 Years

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.

NAFA Islamic Energy Fund

Brief of the Fund:

The objective of the Fund is to gain from the upside potential of the attractive prices of the energy chain stocks, which we believe hold promise to deliver substantial returns over the medium term with gradual recovery in global crude oil prices.

Key benefits:

  • Exposure in Shariah Compliant Energy sector stocks.

  • Benefit from the expected rise in oil prices. International Energy Agency predicts $80 per barrel by 2020 (Presently $39* per barrel).

  • An opportunity to invest in China Pakistan Economic Corridor (CPEC) related Energy companies with potential IRR (Profit) of 17%-18% per annum.

  • NAFA - a Subsidiary of National Bank of Pakistan - is rated among the top four Asset Management Companies in Pakistan.
    *As of April 5, 2016

Key features of the Fund:

Fund Category / Type: Open-end Shariah Compliant Sector [Equity] Scheme
Investment Objective: The objective of NAFA Islamic Energy Fund is to provide investors with long term capital growth from an actively managed portfolio of Shari’ah Compliant listed equities belonging to the Energy Sector as defined in the Offering Document
Benchmark: KMI-30 Index
Authorized Investments: Key Investment Avenues Minimum Maximum
Shariah compliant listed equities in the Energy Sector (Oil & Gas Exploration, Oil Marketing Companies, Refineries, and Power Generation, etc) 70% 100%
Bank Deposits, minimum "A-" rated 0% 30%
Shariah compliant GoP Securities, with max remaining maturity of 90 days 0% 30%
Management fee: 2% per annum
Front end load: Up to 3%
Regulator: Securities and Exchange Commission of Pakistan (SECP)
Shariah Supervisory Board: Dr. Imran Ashraf Usmani , Mufti Ehsan Waquar, and Mufti Muhammad Naveed Alam
Listing: Pakistan Stock Exchange

** Taxes apply

Disclaimer: All investments in mutual funds are subject to market risks. The investors are advised in their own interest to carefully read the contents of the Offering Document in particular the Investment Policies mentioned in Clause 2.1 and Risk Factors mentioned in Clause 2.4 and Warnings in clause 9 before making any investment decision.

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NAFA Islamic Stock Fund
Offering Document Monthly Report Forms Financial Statement

Introduction

NAFA Islamic Stock Fund is a Shariah-compliant Scheme being launched by NBP Fullerton Asset Management Limited, which aims to grow the value of the Unit holders’ investments over the long term in approved Shariah compliant equities.

The product is suitable for those investors who want to seek capital appreciation that adheres to Shariah principles.

Objective

The objective of the Fund is to provide investors with long term capital growth from an actively managed portfolio of Shariah Compliant listed equities.

Authorized Investments:

Key Investment Avenues Minimum Maximum
Shariah compliant listed equities 70% 100%
Shariah compliant Bank Deposits (excluding TDRs) in Islamic Banks / Islamic windows of banks, minimum ‘A-’ rated 0% 30%

Quick Stats

Launch date: January 9, 2015
Risk Profile: High
Management fees: 2.0% p.a
Benchmark: KMI-30 Index
Category: Open end Shariah Compliant Equity Scheme
Load*: Front end - 3% (Nil on investment above Rs. 50 million), Back end - 0%
Minimum investment: Growth units-Rs.10,000/-, Income units-Rs.100,000/-
Listing: Pakistan Stock Exchange Ltd
Auditors: A.F. Ferguson & Co.,- Chartered Accountant
Trustee: Central Depository Company of Pakistan Ltd. (CDC)
Fund Manager: Sajjad Anwar, CFA
Shariah Supervisory Board: Dr.Imran Ashraf Usmani
Mufti Ehsan Waquar
Mufti Muhammad Naveed Alam
Asset Manager rating: AM2+ by PACRA (High Investment Management Standards)
Pricing Mechanism: Forward Pricing

Taxation:

  • Capital Gains Tax (CGT) rate for individual is 12.5% for holding period up to four years if dividend receipt of the Fund are less than capital gain, otherwise 10%. For holding period of more than 4 years CGT is exempt.
  • Tax rate on dividends for individuals is 12.5% if dividend receipt of the Fund are less than capital gain, otherwise 10%.

Taxes apply on dividend as per Income Tax Ordinance 2001.

Benefits at a Glance:

  • Professional Fund Management;
  • Exposure to diversified portfolio of Shariah Compliant Equities
  • No minimum holding period. Redeem at will
  • Encashment within 2-3 business days (Otherwise the constitutive documents allow for six working days to pay redemption proceeds)
  • Minimum Investment Rs.10,000/-(Growth Units)
  • Subsequent Investment Rs.1,000/-
  • Tax benefit available under Section 62 of Income Tax Ordinance 2001.
  • Zakat exemption on submission of relevant affidavit (CZ – 50)
  • Units of Funds can be used as collateral to avail bank financing subject to Shariah guidelines.

*Taxes Apply

Disclaimer: All investments in mutual funds are subject to market risks. Past Performance is not necessary indicative of future results. Please read the offering documents to understand the investment policies and the risk involved.

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NAFA Islamic Asset Allocation Fund
Offering Document Monthly Report Forms Financial Statement

Introduction

NIAAF is a Shariah Compliant open-end Asset Allocation fund. It seeks to provide long-term capital appreciation with a moderate risk profile and a medium to long-term investment horizon. NIAAF’s investment philosophy is to provide stable returns via dynamic allocation to Shariah Compliant equities and fixed income instruments depending upon market conditions. 

The Fund's objective is to provide investors with a combination of capital growth and income by investing in Shariah Compliant investments. It aims to achieve attractive returns at moderate levels of risk by investing in a variety of Shariah Compliant securities, instruments and avenues such as Equities, Bank Deposit, Sukuks etc.

Quick Stats

Launch date: October 26, 2007
Category: Open End- Shahriah Compliant Asset Allocation Fund
Risk Profile: Moderate
Management fees*: 2.00% p.a
Benchmark: (i) Average 3-month Islamic banks deposit rate (ii) 6-month KIBOR or its Shariah Complaint equipment (iii) KMI-30 Index
Load*: Front end - 3% (Nil on investment above Rs. 50 million), Back end - 0%
Minimum investment: Growth units-Rs.10,000/-, Income units-Rs.100,000/-
Listing: Pakistan Stock Exchange (G) Ltd.
Auditors: KPMG Taseer Hadi & Co. Chartered Accountants
Trustee: Central Depository Company of Pakistan Ltd. (CDC)
Fund Manager: Asim Wahab Khan, CFA
Shariah Advisory Board: Dr.Imran Ashraf Usmani
Mufti Ehsan Waquar
Mufti Muhammad Naveed Alam
Asset Manager Rating: AM2+ by PACRA (High Investment Management Standards)
Fund Ranking: 4 Star (based on 1 Year Performance ending June 30, 2014, by PACRA)
Pricing Mechanism: Forward Pricing

Taxation:

Tax apply as per Income Tax Ordinance, 2001

  • Capital Gains Tax (CGT) rate for individual is 10% for up to four years holding period. For holding period of more than 4 years CGT is exempt.
  • Tax rate on dividends for individuals is 10%.

Benefits at a Glance:

  • Minimum Investment Rs.10,000/-(Growth Units), Subsequent Investment Rs.1,000/-
  • No Back End load
  • Tax benefit available under section 62 of Income Tax Ordinance 2001.
  • No minimum holding period. Redeem at will.
  • Encashment within 2-3 business days (Otherwise the constitutive documents allow for six working days to pay redemption proceeds)
  • Investment can be encashed at any place in Pakistan through ATM facility. (ATM withdrawal limit for a single day is Rs.100,000/- or 60% of your investment balance whichever is lower).
  • Units of Funds can be used as a collateral to avail bank financing.
  • On investment or maintaining a minimum investment Balance/Value of Rs.100,000/- in mutual funds managed by NAFA, individuals (Principal account holders only) will be entitled to free of cost Accidental Death and Permanent Total Disability Takaful Cover equal to the investment value subject to a maximum of Rs.1,000,000/-.
  • Zakat exemption on submission of relevant affidavit(CZ-50).
Taxes apply*

Disclaimer: The NAFA Islamic Asset Allocation Fund holds certain non-compliant investments. Before making any investment decision, investors should review the latest monthly Fund Manager Report and financial statements of the Fund particularly the details of non-complaint investments and Risk Factors. All investments in mutual Funds are subject to market risks. Please read the Offering Documents and Trust Deeds of the Fund to understand the investment policies and risk involved. Past performance is not necessarily indicative of future results.

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NAFA Islamic Aggressive Income Fund
Offering Document Monthly Report Forms Financial Statement

Introduction

NIAIF is an open-end Shariah compliant Aggressive Income fund, with no direct exposure to shares. NIAIF Authorized Investments include Shariah compliant money market instruments, Shariah compliant Government Securities (GOP Ijara Sukuk), debt securities (Sukuks) and bank deposit with Islamic banks/ Islamic windows of the conventional banks.

The Fund's objective is to seek preservation of capital and earn a reasonable rate of return in a Shariah Compliant manner. The objective will be achieved by investing in Shariah Compliant income investments

Quick Stats

Launch date: October 26, 2007
Category: Open end – Shariah Complaint Aggressive Income Fund
Risk Profile: Low to Medium
Stability rating: 'A-(f)' by PACRA
Management fees*: 10% of net income (min 0.5%p.pa, max 1%p.a.)
Benchmark: Average 3-month deposit rate of Islamic banks
Load*: Front end – 1% (Nil on investment amount equal to or more than Rs.16 million), Back end – 0%
Minimum investment: Growth units-Rs.10,000/-, Income units-Rs.100,000/-
Listing: Pakistan Stock Exchange (G) Ltd.
Auditors: KPMG Taseer Hadi & Co. Chartered Accountants
Trustee: Central Depository Company of Pakistan Ltd. (CDC)
Fund Manager: Muhammad Imran, CFA, ACCA
Shariah Advisory Board: Dr.Imran Ashraf Usmani
Mufti Ehsan Waquar
Mufti Muhammad Naveed Alam
Asset Manager Rating: AM2+ by PACRA (High Investment Management Standards)
Pricing Mechanism: Forward Pricing

Taxation:

Taxes apply as per the Income Tax Ordinance, 2001

  • Capital Gains Tax (CGT) rate for individual is 10% for up to four years holding period. For holding period of more than 4 years CGT is exempt.
  • Tax rate on dividends for individuals is 10%.

Benefits at a Glance:

  • Minimum Investment Rs.10,000/-(Growth Units), Subsequent Investment Rs.1,000/-
  • No Back End load
  • Tax benefit available under section 62 of Income Tax Ordinance 2001.
  • No minimum holding period. Redeem at will.
  • Encashment within 2-3 business days (Otherwise the constitutive documents allow for six working days to pay redemption proceeds)
  • Investment can be encashed at any place in Pakistan through ATM facility. (ATM withdrawal limit for a single day is Rs.100,000/- or 60% of your investment balance whichever is lower).
  • On investment or maintaining a minimum investment Balance/Value of Rs.100,000/- in mutual funds managed by NAFA, individuals (Principal account holders only) will be entitled to free of cost Accidental Death and Permanent Total Disability Takaful Cover equal to the investment value subject to a maximum of Rs.1,000,000/-.
  • Zakat exemption on submission of relevant affidavit(CZ-50).
Taxes apply*

Disclaimer: All investments in mutual Funds are subject to market risks. Please read the Offering Documents and Trust Deeds of the Fund to understand the investment policies and risk involved. Past performance is not necessarily indicative of future results.

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NAFA Riba Free Savings Fund
Offering Document Monthly Report Forms Financial Statement

Introduction

NRFSF is an open-end Shariah compliant income fund, with no direct or indirect exposure to Corporate Sukuks. It aims to provide consistent and halal returns via investment in Government securities (GOP Ijarah sukuks), Shariah compliant money market instruments (rated AA- & above) and Islamic Banks/ Islamic windows of conventional Banks rated A- or above.

The Fund’s objective is to provide preservation of capital and earn a reasonable rate of return along with a high degree of liquidity by investing in short term Shariah Compliant banks and money market / debt securities.
 

Quick Stats

Launch date: August 20, 2010
Category: Open End Shariah Compliant – Income Fund
Risk Profile: Very Low
Stability Rating: 'A(f)' by PACRA
Management fees*: 10% of Net Income (min 0.5%p.a. max 1.25%p.a.
Benchmark: Average 6-month deposit rate of A- & above rated Islamic banks
Load*: Front end: 0.5% (Nil on investment amount equal to or more than Rs.16 million),Back end: 0%
Minimum investment: Growth units-Rs.10,000/-, Income units-Rs.100,000/-
Listing: Pakistan Stock Exchange (G) Ltd.
Auditors: Deloite Yousuf Adil Chartered Accountants
Trustee: Central Depository Company of Pakistan Ltd. (CDC)
Fund Manager: Salman Ahmed
Shariah Advisory Board: Dr.Imran Ashraf Usmani
Mufti Ehsan Waquar
Mufti Muhammad Naveed Alam
Asset Manager Rating: AM2+ by PACRA (High Investment Management Standards)
Pricing Mechanism: Forward Pricing

Taxation:

  • Capital Gains Tax (CGT) rate for individual is 10% for up to four years holding period. For holding period of more than 4 years CGT is exempt.
  • Tax rate on dividends for individuals is 10%.

Benefits at a Glance:

  • Minimum Investment Rs.10,000/-(Growth Units), Subsequent Investment Rs.1,000/-
  • No Back End load
  • Tax benefit available under section 62 of Income Tax Ordinance 2001.
  • No minimum holding period. Redeem at will.
  • Encashment within 2-3 business days (Otherwise the constitutive documents allow for six working days to pay redemption proceeds)
  • Investment can be encashed at any place in Pakistan through ATM facility. (ATM withdrawal limit for a single day is Rs.100,000/- or 60% of your investment balance whichever is lower).
  • Units of Funds can be used as a collateral to avail bank financing.
  • On investment or maintaining a minimum investment Balance/Value of Rs.100,000/- in mutual funds managed by NAFA, individuals (Principal account holders only) will be entitled to free of cost Accidental Death and Permanent Total Disability Takaful Cover equal to the investment value subject to a maximum of Rs.1,000,000/-.
  • Zakat exemption on submission of relevant affidavit(CZ-50).
Taxes apply*

Disclaimer: All investments in mutual Funds are subject to market risks. Please read the Offering Documents and Trust Deeds of the Fund to understand the investment policies and risk involved. Past performance is not necessarily indicative of future results.

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Notice of change of Name & Category of Fund - NAFA Islamic Aggressive Income Fund

We would like to inform you that the Management of NBP Fullerton Asset Management Limited (NAFA), with the approval of Securities and Exchange Commission of Pakistan (SECP), has changed the category of NAFA Islamic Aggressive Income Fund from Shariah Compliant Aggressive Income Fund to Shariah Compliant Income Fund. Accordingly the name of NAFA Islamic Aggressive Income Fund will be NAFA Islamic Income Fund w.e.f. March 14, 2017. For further information, please call our toll free helpline # 0800-20002 Kindly also note that all cheques for investment in NAFA Islamic Aggressive Income Fund from March 14, 2017 onwards shall be made in the name of CDC Trustee NAFA Islamic Income Fund.

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NBP Fullerton Asset Management Ltd (NAFA), announces cash dividend (As of June 29, 2016)

NBP Fullerton Asset Management Ltd (NAFA), is pleased to announce final cash dividend on funds under its management for the Financial Year 2015-2016.

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NBP Fullerton Asset Management Ltd (NAFA), announces cash dividend (As of June 30, 2016)

NBP Fullerton Asset Management Ltd (NAFA), is pleased to announce cash dividend on funds under its management for the Financial Year 2015-2016.

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Notice of Interim Distribution (2015-2016)

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NBP Fullerton Asset Management Ltd (NAFA), Announces Interim bonus distribution for NAFA Islamic Principal Protected Fund-II - (NIPPF-II)

We are pleased to announce that the Board of Directors of NBP Fullerton Asset Management Ltd (NAFA) in their meeting held on April 29, 2016 announced a per unit bonus distribution of Rs.7.7158 for unit holders of NAFA Islamic Principal Protected Fund - II (NIPPF-II). An investor holding 100 units at the close of business as on April 28, 2016 will get 6.9159 units on ex-dividend NAV of Rs. 111.5658 per unit, the proportionate will apply to actual holdings.

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Notice for changes in Front-End Load structure

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NBP Fullerton Asset Management Ltd (NAFA), announces cash dividend (As of June 29, 2016)

NBP Fullerton Asset Management Ltd (NAFA), is pleased to announce cash dividend on funds under its management for the Financial Year 2015-2016.

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