Market Review & Outlook From the CIO's Desk Year on Year CPI inflation of 1.7% for August 2015 has been the lowest since 2003. It implies that the price of the consumer basket has grown by only 1.7% during the 12 month period ending in August 2015. International oil price has again declined sharply during the last few weeks. International commodity prices are expected to remain weak in the near future as Chinese economy is showing signs of a significant slowdown while growth prospects in other large economies of the world also seem weak. These trends suggest that inflation is likely to remain low in near future. Due to low inflation and improvement in foreign exchange reserves, we expect that the State Bank of Pakistan (SBP) will either maintain the Policy Rate at 6.5% or slightly lower it further to 6% in the next Monetary Policy statement due in September 2015. Islamic financial institutions (IFIs) are growing at a much faster rate than conventional financial institutions. However, the government seems oblivious to IFIs growing need for Shariah compliant debt securities in order to earn competitive returns on their assets. Islamic banks and mutual funds continue to face serious challenges in deploying the money available with them. It is expected that the GOP Ijara Sukuk maturing in November 2015 will be replaced with a bigger issue of GOP Ijara Sukuk in order to absorb the liquidity available with IFIs. Stock market has been volatile and directionless over the past few weeks as market participants continue to reassess their expectations regarding future performance of the economy and the sectors which may benefit the most. We expect the stock market to remain volatile over the next few weeks. Rising political uncertainty within the country and increased concerns regarding competitive depreciation of Pak Rupee may keep the market participants nervous. However, despite short term volatility, we think that the medium term outlook for the stock market is quite good. After many years, Pakistan s economy has entered into a phase of low inflation and higher GDP growth. We expect that this trend will continue and stock market will also remain in a long term uptrend. Any corrections in the stock market should therefore be viewed by long term investors as opportunities to increase stock market exposure. Low yields on fixed income securities and instruments and the positive outlook of the country s economy make it all the more important for investors to allocate a portion of their portfolios to stocks. Al Ameen Islamic Asset Allocation Fund (AIAAF) is appropriate for investors with low to moderate risk tolerance. This fund has the potential to earn returns well above those of Money Market Funds and Income Funds. The fund invests in a diversified portfolio of stocks, bonds and money market instruments and also limits the level of risk by investing no more than 40% of its assets in stocks at any point in time. The fund, on average, invests 30 35% of its assets in stocks. Over the last few years, has earned attractive returns for investors through a number of Funds with a two year life and an investment strategy based on dynamic allocation between Equity and Money Market Funds. Another such Fund i.e. Al Ameen Islamic Active Allocation Plan II (AIActAP II) is being launched during September 2015. The money will be invested in a combination of Shariah compliant Equity and Money Market Funds over a two year period. This fund is suitable for investors with a two year investment horizon and the desire to gain a reasonable exposure to the stock market. We strongly recommend our investors to invest in Voluntary Pension Schemes in order to grow their long term savings and achieve retirement security. We recommend a high exposure to Equity Sub Fund of the Scheme. We have been following an aggressive investment strategy in this Sub Fund considering its long time horizon and low liquidity/redemption pressures. The strategy has worked very well in the past as the Equity Sub Fund has earned absolute return of 404.4% (KMI 30 Index: 271.9%) since inception which is equivalent to average annualized return of 35.6% p.a. (KMI 30 Index: 28.0% p.a.) thus outperforming the KMI 30 Index by a huge margin.
Sr. No. 1 Return (net of all expenses including Fund Category Fund Name Symbol Fund size Management Fee) CYTD date (%) CAGR (%) Fund Benchmark Fund Benchmark Islamic Money Market Al Ameen Islamic Cash Fund AICF 4,793 19 Sep 12 5.68% 6.59% 6.48% 6.96% 2 Islamic Income Al Ameen Islamic Sovereign Fund AISF 1,565 7 Nov 10 7.12% 6.81% 8.99% 7.31% 3 4 Islamic Aggressive Income Islamic Asset Allocation Al Ameen Islamic Aggressive Income Fund AIAIF 857 20 Oct 07 7.40% 7.38% 5.93% 8.03% Al Ameen Islamic Asset Allocation Fund AIAAF 1,650 10 Dec 13 9.78% 7.62% 15.09% 11.69% 5 Islamic Equity Al Ameen Shariah Stock Fund ASSF 8,552 24 Dec 06 12.72% 13.99% 18.26% 18.85% 6 7 8 9 10 Islamic Fund of Funds Scheme Islamic Fund of Funds Scheme Islamic Fund of Funds Scheme Islamic Fund of Funds Scheme Islamic Fund of Funds Scheme Al Ameen Islamic Principal Preservation Fund II AIPPF II 1,211 7 Nov 13 6.62% 12.09% 16.18% 18.45% Al Ameen Islamic Principal Preservation Fund III AIPPF III 2,474 20 Jun 14 6.61% 12.04% 17.72% 21.07% Al Ameen Islamic Principal Preservation Fund IV AIPPF IV 1,741 16 Oct 14 6.28% 13.04% 13.16% 21.64% Al Ameen Islamic Principal Preservation Fund V AIPPF V 944 26 Dec 14 1.13% 8.71% 0.76% 8.68% Al Ameen Islamic Financial Planning Fund Al Ameen Islamic Active Allocation Plan I AIFPF AIActAP I 2,387 23 Jun 15 1.25% 2.00% 1.25% 2.00% 11 Islamic Voluntary Pension Scheme Al Ameen Islamic Retirement Savings Fund AIRSF 19 May 10 Equity Sub Fund 752 20.72% N.A 35.59% N.A Debt Sub Fund 262 5.88% N.A 7.71% N.A Money Market Sub Fund 162 6.10% N.A 7.05% N.A
Al Ameen Islamic Cash Fund (Formerly UBL Islamic Cash Fund) AICF is an open end Shariah Compliant Money Market Fund which aims to provide high liquidity and competitive returns while seeking maximum possible preservation of capital by investing in low risk and liquid Shariah Compliant instruments. AICF 1 AICF 2 Benchmark Fund Type Open end FY YTD (p.a.) 4.86% 4.96% 5.82% Fund Categorization Shariah Compliant Money Market Fund August 2015 (p.a.) 4.60% 4.70% 5.83% Risk Profile Low (CAGR) 6.48% 6.96% Launch Date 17 Sep 12 Standard Deviation* 0.29% 0.48% Benchmark Average of 3 Months Placement Rate of 3 Sharpe Ratio** (7.28) (3.27) Islamic Banks (with AA or better banks) Weighted Avg Time to Maturity 3Days Listing Central Depository Company (CDC) BDO Ebrahim & Co Shariah Advisory Board Mr. Hassaan Kaleem & Mr. Najeeb Khan Management Co. Rating AM2+ (JCR VIS) AA (JCR VIS) Minimum Investment Rs. 500 Jul'15 Aug'15 % Load Nil (Front end) Fund Size (PKR Mn) 4,540 4,793 5.58% Dealing Days Monday to Friday NAV (PKR) 100.6974 101.0907 0.39% Cut off times Pricing Mechanism Issuance: 4:00 p.m. Redemption: 9:30 am Backward 1 Simple Annualized Return 2 Morning Star Return * 12m Trailing ** 12m Trailing, 3M PKRV yield is used as a risk free rate Management Fee 10% of the Gross Earnings subject to a min. fee of 0.5% of net assets and a max. fee of 1% of net assets. Wahaj Aslam Wahaj Aslam Portfolio Quality (% of Total Assets) A+, 3% AAA, 1% Others, 1% Commercial Papers 0% 0% 0% Cash 88% 89% 89% GoP Ijara Sukuks 3% 1% 1% Others 0% 1% 1% Placements with banks 8% 9% 9% Leverage Nil Nil Nil AA+, 95% AICF (p.a) 4.56% 5.26% 6.22% 6.48% Key Interest Rates Benchmark 6.06% 6.46% 6.78% 6.96% KIBOR (1M, 6M, 1Y, 3Y)* 6.72% 6.93% 7.10% 7.58% Returns are annualized using the Morningstar Methodology Avg I.B. Placement Rate (1M, 3M, 6M, 12M) 5.60% 5.83% 5.95% 6.47% Repo Rate (Overnight, 1M, 3M) 6.74% 6.70% 6.63% Disclosures In compliance with SECP's "Circular # 17 of 2012" Discount Rate 7.00% The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to CPI(Aug) Y o Y Basis 1.72% the tune of Rs. 6,451,396, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.14/0.13%. * Average during month Value of 100 Rupees invested 12 months ago 107 106 105 104 103 102 101 100 Monthly Yield* Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD AICF 7.39% 6.52% 8.26% 7.06% 8.86% 5.01% 4.79% 8.61% 4.62% 3.75% 5.22% 4.70% 5.68% Benchmark 7.08% 7.33% 7.08% 7.08% 6.98% 7.01% 6.67% 6.85% 7.06% 6.58% 5.80% 5.83% 6.59% *Returns are annualized using the Morningstar Methodology For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR 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. All returns are calculated assuming reinvested dividends.
Al Ameen Islamic Sovereign Fund (Formerly UBL Islamic Sovereign Fund) AISF is an open end Shariah Compliant Income Fund which aims to generate a competitive return with minimum risk, by investing primarily in Shariah Compliant Government Securities. AISF 1 AISF 2 Benchmark Fund Type Open end FY YTD (p.a.) 5.33% 5.45% 5.79% Fund Categorization Shariah Compliant Income Fund August 2015 (p.a.) 5.00% 5.11% 5.77% Risk Profile Low (CAGR) 8.99% 7.31% Launch Date 7 Nov 10 Standard Deviation* 0.50% 0.68% Benchmark Average of 6 Months Deposit Rates of 3 Islamic Sharpe Ratio** (3.68) (1.85) Banks (with AA or better banks) Weighted Avg Time to Maturity 0.41 Years Listing Central Depository Company (CDC) KPMG Taseer Hadi and Co. Shariah Advisory Board Mr. Hassaan Kaleem & Mr. Najeeb Khan Management Co. Rating AM2+ (JCR VIS) AA Minus (JCR VIS) Minimum Investment Rs. 500 Jul'15 Aug'15 % Load 1.0% (Front end) Fund Size (PKR Mn) 1,471 1,565 6.35% Dealing Days Monday to Friday NAV (PKR) 101.1794 101.6088 0.42% Cut off times 4:00 PM 1 Simple Annualized Return 2 Morning Star Return * 12m Trailing ** 12m Trailing, 3M PKRV yield is used as a risk free rate Pricing Mechanism Management Fee Forward 1.00% p.a. Wahaj Aslam Wahaj Aslam Portfolio Quality (% of Total Assets) AA, 16% AA, 0% Others, 3% AAA, 59% GoP Ijara Sukuks 41% 52% 59% Cash 50% 38% 33% Others 2% 3% 3% Placements with banks 7% 7% 6% Leverage Nil Nil Nil *Investment in GOP Ijara Sukuks on quarterly average basis stood at over 70% of net assets. AA+, 13% Key Interest Rates KIBOR (1M, 6M, 1Y, 3Y)* 6.72% 6.93% 7.10% 7.58% Avg I.B. Placement Rate (1M, 3M, 6M, 12M) 5.24% 5.73% 5.77% 5.84% AISF (p.a) 5.42% 6.16% 6.48% 7.46% 8.99% Repo Rate (Overnight, 1M, 3M) 6.74% 6.70% 6.63% Benchmark 6.02% 6.55% 7.08% 7.06% 7.31% Discount Rate 7.00% Returns are annualized using the Morningstar Methodology CPI(Aug) Y o Y Basis 1.80% * Average during month Disclosures In compliance with SECP's "Circular # 17 of 2012" Disclosure of Excess/(Short) Exposure as a %age of NA as at August 31, 2015 Name of Investment Required* Actual Excess/(Short) GoP Ijara Sukuks 70.00% 59.88% 10.12% Cash 30.00% 37.47% 7.47% * 90 days rolling average Value of 100 Rupees invested 12 months ago 108 106 105 103 102 100 The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 7,635,285, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.50/0.49%. Monthly Yield* Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD AISF 3.52% 7.13% 3.87% 6.31% 13.09% 7.06% 7.45% 7.22% 6.08% 5.35% 5.78% 5.11% 7.12% Benchmark 7.56% 7.59% 7.64% 7.64% 7.57% 7.75% 7.13% 7.16% 6.93% 6.48% 5.81% 5.77% 6.81% *Returns are annualized using the Morningstar Methodology For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR 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. All returns are calculated assuming reinvested dividends.
Al Ameen Islamic Aggressive Income Fund (Formerly Al Ameen Islamic Income Fund) AIAIF is an open end Shariah Compliant Aggressive Fixed Income Fund which invests in medium to long term income instruments as well as short tenor money market instruments to generate superior, long term, risk adjusted returns while preserving capital over the long term. AIAIF 1 AIAIF 2 Benchmark Fund Type Open end FY YTD (p.a.) 3.97% 4.03% 6.03% Fund Categorization Shariah Compliant Aggressive Fixed Income August 2015 (p.a.) 6.48% 6.68% 5.84% Risk Profile Moderate (CAGR) 5.93% 8.03% Launch Date 20 Oct 07 Standard Deviation* 0.99% 0.91% Benchmark Weighted average of 12 Month deposit rates of Sharpe Ratio** (0.47) (0.64) 3 different Islamic Banks Weighted Avg Time to Maturity 1.28 Years Listing Central Depository Company (CDC) Ernst & Young Ford Rhodes Sidat Hyder Shariah Advisory Board Mr. Hassaan Kaleem & Mr. Najeeb Khan Management Co. Rating AM2+ (JCR VIS) BBB+ (JCR VIS) Minimum Investment Rs. 500 Jul'15 Aug'15 % Load (Front end) 1% (Growth Units, Income Units) Fund Size (PKR Mn) 868 857 1.27% Load (Back end) Stepped down structure (Growth Units) NAV (PKR) 98.11 98.65 0.55% Dealing Days Monday to Friday 1 Simple Annualized Return 2 Morning Star Return * 12m Trailing ** 12m Trailing, 3M PKRV yield is used as a risk free rate Cut off times Pricing Mechanism Management Fee 4:00 PM Forward 1.75% p.a. Muhammad Abdul Hayee Muhammad Abdul Hayee Portfolio Quality (% of Total Assets) A, 4% Others, 3% Sukuks 50% 47% 47% GoP Ijara Sukuk 1% 1% 1% AAA, 11% Commercial Papers 0% 0% 0% Cash 28% 31% 49% Others 21% 22% 3% A+, 11% Placements with banks 0% 0% 0% Leverage Nil Nil Nil AA+, 41% Disclosure of Excess Exposure (Per Entity) as at August 31, 2015 Name of Investment Exposure Type % of NA Limit Excess TFC/SUKUK K ELECTIC AA, 12% Per Entity 15.29% 15.00% 0.29% AIAIF (p.a) 7.81% 6.57% 7.87% 9.87% 6.46% 5.93% Benchmark 6.37% 7.05% 7.75% 7.80% 8.09% 8.03% Returns are annualized using the Morningstar Methodology Top Ten Sukuk Holdings (as % of Total Assets) Disclosures In compliance with SECP's "Circular # 17 of 2012" TFC/SUKUK Engro Fertilizer Ltd. (09 J 11.1% MAPLE LEAF SUKUK (03 12 07) 4.4% The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to TFC/SUKUK K ELECTIC (19 MAR 14) 8.9% WAPDA TFC 3.1% the tune of Rs. 3,712,722, if the same were not made the NAV per unit/return of the TFC/SUKUK WAPDA. (14 OCT 13) 6.9% ENGRO FERT SUKUK (06 09 07) 2.8% Scheme would be higher by Rs. 0.43/0.43%. TFC/SUKUK K ELECTIC (19 MAR 14) 5.5% 0 0.0% TFC/SUKUK ENGRO CORP LTD. (10 JU 4.6% 0 0.0% Value of 100 Rupees invested at inception 110 108 106 104 102 100 Monthly Yield* Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD AIAIF 12.23% 6.72% 9.31% 7.14% 10.82% 9.22% 5.50% 6.05% 4.48% 16.07% 1.45% 6.68% 7.40% Benchmark 8.33% 8.43% 8.60% 8.60% 8.47% 8.38% 7.94% 7.92% 7.33% 7.06% 6.23% 5.84% 7.38% *Returns are annualized using the Morningstar Methodology For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR 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. All returns are calculated assuming reinvested dividends.
Al Ameen Islamic Asset Allocation Fund (Formerly UBL Islamic Asset Allocation Fund) The investment objective of the Fund is to earn competitive riba free return by investing in various shariah compliant asset classes/instruments based on the market outlook. AIAAF Benchmark Fund Type Open end FY YTD 2.59% 1.05% Fund Categorization Islamic Asset Allocation Aug 15 0.57% 0.02% Risk Profile Medium (CAGR) 15.09% 11.69% Launch Date 10 Dec 13 Standard Deviation* 6.51% 5.06% Benchmark 70% 6M Deposit Rate of three AA and above Sharpe Ratio** 1.85 0.83 Islamic Banks + 30% KMI 30 Index Listing Central Depository Company (CDC) Ernt & Young Forde Rhodes Sidat Hyder & Co. Management Co.Rating AM2+ (JCR VIS) MFR 3 Star (JCR VIS) Minimum Investment Rs. 10,000/ initial & subsequent Load 3% (Front end) Dealing Days Monday to Friday Jul'15 Aug'15 % Cut off times 4:00 PM Fund Size (PKR Mn) 1,453 1,650 13.60% Pricing Mechanism Forward NAV (PKR) 110.54 111.1794 0.57% Management Fee 1% p.a. *12M Trailing. **12M Trailing, 3M PKRV yield used as Risk Free rate. Muhammad Abdul Hayee Muhammad Abdul Hayee Asset Allocation (% of Total Assets) GoP Ijarah, 2% Cash, 51% Others, 2% Equities, 37% Placements with banks, 6% TFC, 3% Equities 37% 36% 37% Placements with banks 9% 7% 6% TFC 4% 3% 3% Cash 47% 52% 51% GoP Ijarah 2% 2% 2% Others 1% 1% 2% Leverage Nil Nil Nil Top Ten Equity Holdings (% of Total Assets) Fauji Cement Co. Limited 3.8% Honda Atlas Cars (Pakistan) Limit 2.5% Kot Addu Power Company Limited 3.2% Fatima Fertilzer Company Limited 2.5% AIAAF 4.71% 6.59% 20.4% 27.40% Pioneer Cement Limited 2.9% Engro Fertilizer Limited 2.3% Benchmark 2.87% 4.91% 12.5% 20.99% Attock Petroleum Limited 2.9% Ferozsons Laboratories Limited 2.1% Engro Corporation 2.5% Hub Power Company Limited 1.9% Sector Allocation of Equity Value of 100 Rupees invested 12 months ago 133 128 123 118 113 108 103 98 Monthly Yield Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD AIAAF 3.01% 1.89% 3.67% 0.75% 3.53% 0.52% 3.17% 5.30% 0.17% 2.06% 2.01% 0.57% 9.78% Benchmark 1.66% 0.66% 1.12% 1.05% 2.31% 0.27% 1.96% 3.88% 0.13% 1.80% 1.03% 0.02% 7.62% For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR Others, 7% Oil & Gas Marketing Companies, 3% Automobile Assembler, 4% Power Generation & Distribution, 7% Fertilizer, 9% Cement, 8% The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 3,645,908, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.25/0.22%. 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. All returns are calculated assuming reinvested dividends.
Al Ameen Shariah Stock Fund (Formerly UBL Shariah Stock Fund) ASSF is an open end Equity Fund, investing primarily in Shariah compliant equities. The Fund seeks to maximize total returns and outperform its benchmark by investing in a combination of securities offering long term capital gains and dividend yield potential. ASSF Benchmark Fund Type Open end FY YTD 2.77% 0.98% Fund Categorization Islamic Equity Aug 15 0.83% 1.23% Risk Profile High (CAGR) 18.26% 18.85% Launch Date 24 Dec 06 Standard Deviation* 17.60% 16.85% Benchmark KMI 30 Index* Sharpe Ratio** 1.57 0.95 Listing Beta* 0.96 1.00 Central Depository Company (CDC) Alpha*^ 11.53% Deloitte M. Yousuf Adil Saleem & Co. R Square^^ 85% Management Co.Rating AM2+ (JCR VIS) Price to Earning Ratio ^^^ 11.76x 14.90x MFR 4 STAR (JCR VIS) 3 Yr Average Dividend Yield ^^^ 3.32% 5.17% Minimum Investment Rs. 500 Value at Risk 1.21% 1.29% Load 2.5% (Front end), Nil (Back end) Dealing Days Monday to Friday Cut off times 4:00 PM Jul'15 Aug'15 % Pricing Mechanism Forward Fund Size (PKR Mn) 8,650 8,552 1.14% Management Fee 2% p.a. NAV (PKR) 119.19 118.2 0.83% Wahaj Aslam *12M Trailing. **12M Trailing, 3M PKRV yield used as Risk Free rate. *^ Alpha measures the risk adjusted performance of the fund vs. the benchmark.^^ R Square measures the correlation between the benchmark and the fund. ^^^ Benchmark figures are for KMI 30 Index only. ^^^^ NAV based. Wahaj Aslam * Benchmark has been changed since reconstitution of the Fund on 18th July 2012 Sector Allocation (% of Total Assets) Cement, 22% Automobile Assembler, 12% Equities 93% 93% 90% Sukuks 0% 0% 0% GoP Ijarah Sukuks 0% 0% 0% Cash 7% 6% 9% Others 0% 1% 0% Leverage Nil Nil Nil Power Generation & Distribution, 10% Fertilizer, 11% Top Ten Equity Holdings (% of Total Assets) Packages Limited 6.0% Ferozsons Laboratories Limited 4.5% ASSF 9.12% 6.39% 35.92% 135.46% 283.56% 329.50% Engro Corporation 5.6% Pakistan State Oils Limited 3.7% Benchmark 5.79% 7.85% 24.39% 112.34% 230.33% 348.36% Pak Suzuki Motor Company Limite 5.0% K Electric Limited 3.6% Lucky Cement Company Limited 4.8% Kot Addu Power Company Limite 3.5% D.G.Khan Cement Co. Limited 4.5% Pioneer Cement Limited 3.4% Value of 100 Rupees invested 12 months ago Disclosures In compliance with SECP's "Circular # 17 of 2012" 150 145 140 135 130 125 120 115 110 105 100 95 90 Others, 28% Pharmaceuticals, 7% The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 50,547,812, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.70/0.59%. Monthly Yield Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD ASSF 8.22% 4.32% 4.73% 1.99% 9.96% 3.65% 11.14% 13.24% 3.10% 6.18% 3.63% 0.83% 12.72% Benchmark 4.05% 0.66% 2.23% 1.90% 6.24% 0.52% 7.95% 11.89% 1.03% 4.76% 2.24% 1.23% 13.99% For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR 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. All returns are calculated assuming reinvested dividends.
Al Ameen Islamic Principal Preservation Fund II (Formerly UBL Islamic Principal Preservation Fund II) The objective of Al Ameen Islamic Principal Preservation Fund II is to earn a potentially high return through dynamic asset allocation between Shariah Compliant Equities and Shariah Compliant Income/Money Market based Collective Investment Schemes, while providing capital preservation of the Initial Investment Value at completion of the duration of fund. AIPPF II Benchmark Fund Type Open end FY YTD 1.00% 1.32% Fund Categorization Shariah Compliant Fund of Funds Scheme Aug 15 1.11% 0.18% Risk Profile Low (CAGR) 16.18% 18.45% Launch Date 7 Nov 13 Standard Deviation* 12.68% 12.12% Benchmark Sharpe Ratio** 0.92 0.99 Weighted Average Daily Return of KMI 30 Index and 3M Deposit Rates of A & above rated Islamic Banks based on the Fund s actual participation in the Equity & Debt/Income Component. Listing Central Depository Company (CDC) KPMG Taseer Hadi and Co. Management Co.Rating AM2+ (JCR VIS) Not yet rated Jul'15 Aug'15 % Minimum Investment Rs 10,000/ initial & subsequent Fund Size (PKR Mn) 1,225 1,211 1.13% Load 3% (Front end incl. Structuring fee), 5% (Back end) NAV (PKR) 117.88 116.57 1.11% Dealing Days Monday to Friday *12M Trailing. **12M Trailing, 3M PKRV yield used as Risk Free rate. Cut off times 4:00 PM Pricing Mechanism Forward Management Fee 1% p.a. (on the value of underlying Funds not managed by UBL s) Amir Ibrahim Habib Amir Ibrahim Habib Holdings (% of Total Assets) Al Ameen Shariah Stock Fund 52% Equity Funds 59% 62% 52% Al Ameen Islamic Cash Fund 47% Money Market Funds 41% 37% 47% Others 0% 0% 0% Multiplier Cash 0% 1% 1% Multiplier as at 31st August 2015 4.00 Leverage Nil Nil Nil Multiplier range during the month of August'15 4.00 4.5 Value of 100 Rupees invested 12 months ago 130 125 120 115 110 105 100 95 90 Profit Lock in Profit locked in* 12% AIPPF II Benchmark 4.80% 1.40% 19.96% 31.31% 4.63% 6.33% 20.33% 36.02% Disclosures In compliance with SECP's "Circular # 17 of 2012" The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 5,794,868, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.56/0.48%. *Profit Lock in feature allows the to realize some of the equity investment gains into Income/money market investments, in order to secure the profit if any for investors. Monthly Yield Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD AIPPF II 4.45% 2.74% 3.25% 1.55% 8.99% 3.52% 9.08% 9.53% 2.84% 3.77% 2.13% 1.11% 6.62% Benchmark 2.31% 0.63% 2.12% 2.10% 5.86% 0.42% 6.08% 8.90% 0.65% 3.27% 1.51% 0.18% 12.09% For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR units and any dividends/returns/profit lock in 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. Capital preservation only applies to the unit holders who hold their investments until maturity date. All returns are calculated assuming reinvested dividends.
Al Ameen Islamic Principal Preservation Fund III The objective of Al Ameen Islamic Principal Preservation Fund III is to earn a potentially high return through dynamic asset allocation between Shariah Compliant Equities and Shariah Compliant Income/Money Market based Collective Investment Schemes, while providing capital preservation of the Initial Investment Value at completion of the duration of fund. AIPPF III Benchmark Fund Type Open end FY YTD 1.40% 1.48% Fund Categorization Shariah Compliant Fund of Funds Scheme Aug 15 0.98% 0.16% Risk Profile Low 17.72% 21.07% Launch Date 20 Jun 14 Standard Deviation* 13.18% 12.66% Benchmark Sharpe Ratio** 0.98 0.94 Weighted Average Daily Return of KMI 30 Index and 3M Deposit Rates of Islamic Banks (AA & above) based on the Fund s actual participation in the Equity & MM/Income Component. Listing MCB Financial Services Ltd. BDO Ebrahim & Co Management Co.Rating AM2+ (JCR VIS) Not yet rated Jul'15 Aug'15 % Minimum Investment Rs 10,000/ initial & subsequent Fund Size (PKR Mn) 2,500 2,474 1.04% Load 3% (Front end incl. Structuring fee), 5% (Back end) NAV (PKR) 111.79 110.7 0.98% Dealing Days Monday to Friday *12M Trailing. **12M Trailing, 3M PKRV yield used as Risk Free rate. Cut off times 4:00 PM Pricing Mechanism Forward Management Fee 1% p.a. (on the value of underlying Funds not managed by UBL s) Abdul Rehman Warraich CFA Holdings (% of Total Assets) Al Ameen Shariah Stock Fund 59% Equity Funds 65% 69% 59% Al Ameen Islamic Cash Fund 38% Money Market Funds 32% 27% 38% Others 3% 3% 3% Multiplier Cash 0% 0% 0% Multiplier as at 31st August 2015 4.00 Leverage Nil Nil Nil Multiplier range during the month of August'15 4.00 4.5 Value of 100 Rupees invested 12 months ago 130 125 120 115 110 105 100 Profit Lock in Profit locked in* 3% AIPPF III Benchmark 5.52% 1.35% 21.27% 17.72% 4.93% 6.26% 20.24% 21.07% Disclosures In compliance with SECP's "Circular # 17 of 2012" The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 7,036,704, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.31/0.28%. *Profit Lock in feature allows the to realize some of the equity investment gains into Income/money market investments, in order to secure the profit if any for investors. Monthly Yield Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD AIPPF III 5.02% 3.06% 3.38% 1.65% 7.52% 2.16% 9.86% 9.65% 2.83% 4.06% 2.40% 0.98% 6.61% Benchmark 2.56% 0.58% 1.99% 2.00% 5.83% 0.37% 6.47% 9.06% 0.72% 3.40% 1.64% 0.16% 12.04% For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR units and any dividends/returns/profit lock in 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. Capital preservation only applies to the unit holders who hold their investments until maturity date. All returns are calculated assuming reinvested dividends.
Al Ameen Islamic Principal Preservation Fund IV The objective of the Fund is to earn a potentially high return through dynamic asset allocation between Shariah Compliant Equities and Shariah Compliant Income/Money Market based Collective Investment Schemes, while providing principal preservation of the Initial Investment Value at completion of the duration of fund. AIPPF IV Benchmark Fund Type Open end FY YTD 1.31% 1.54% Fund Categorization Shariah Compliant Fund of Funds Scheme Aug 15 1.02% 0.09% Risk Profile Low 13.16% 21.64% Launch Date 16 Oct 14 Standard Deviation* n/a n/a Benchmark Sharpe Ratio** n/a n/a Weighted Average Daily Return of KMI 30 Index and 3M Deposit Rates of Islamic Banks (AA & above) based on the Fund s actual participation in the Equity & MM/Income Component. Listing Central Depository Company BDO Ebrahim & Co Management Co.Rating AM2+ (JCR VIS) Not yet rated Jul'15 Aug'15 % Minimum Investment Rs 10,000/ initial & subsequent Fund Size (PKR Mn) 1,761 1,741 1.12% Load 3% (Front end incl. Structuring fee), 5% (Back end) NAV (PKR) 108.10 107.0002 1.02% Dealing Days Monday to Friday *12M Trailing. **12M Trailing, 3M PKRV yield used as Risk Free rate. Cut off times 4:00 PM Pricing Mechanism Forward Management Fee 1% p.a. (on the value of underlying Funds not managed by UBL s) Abdul Rehman Warraich CFA Holdings (% of Total Assets) Al Ameen Shariah Stock Fund 60% Equity Funds 66% 71% 60% Al Ameen Islamic Cash Fund 39% Money Market Funds 33% 28% 39% Others 0% 0% 0% Multiplier Cash 0% 0% 1% Multiplier as at 31st August 2015 4.50 Leverage Nil Nil Nil Multiplier range during the month of August'15 4.5 5.00 Value of 100 Rupees invested at inception 120 116 112 108 104 100 96 Profit Lock in Profit locked in* 0% AIPPF IV Benchmark 5.35% 1.05% 13.16% 4.85% 7.25% 21.64% Disclosures In compliance with SECP's "Circular # 17 of 2012" The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 3,718,967, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.23/0.21%. *Profit Lock in feature allows the to realize some of the equity investment gains into Income/money market investments, in order to secure the profit if any for investors. Monthly Yield Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD AIPPF IV 1.54% 3.16% 1.66% 7.57% 2.22% 10.07% 9.79% 2.86% 3.98% 2.36% 1.02% 6.28% Benchmark 2.30% 3.04% 2.08% 5.86% 0.43% 5.64% 9.06% 0.60% 3.26% 1.64% 0.09% 13.04% For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR units and any dividends/returns/profit lock in 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. Capital preservation only applies to the unit holders who hold their investments until maturity date. All returns are calculated assuming reinvested dividends.
Al Ameen Islamic Principal Preservation Fund V The objective of the Fund is to earn a potentially high return through dynamic asset allocation between Shariah Compliant Equities and Shariah Compliant Income/Money Market based Collective Investment Schemes, while providing principal preservation of the Initial Investment Value at completion of the duration of fund. AIPPF V Benchmark Fund Type Open end FY YTD 0.96% 1.29% Fund Categorization Shariah Compliant Fund of Funds Scheme Aug 15 0.12% 0.52% Risk Profile Low 0.76% 8.68% Launch Date 26 Dec 14 Standard Deviation* n/a n/a Benchmark Sharpe Ratio** n/a n/a Weighted Average Daily Return of KMI 30 Index and 3M Deposit Rates of Islamic Banks (AA & above) based on the Fund s actual participation in the Equity & MM/Income Component. Listing Central Depository Company BDO Ebrahim & Co Management Co.Rating AM2+ (JCR VIS) Not yet rated Jul'15 Aug'15 % Minimum Investment Rs 10,000/ initial & subsequent Fund Size (PKR Mn) 945 944 0.10% Load 3% (Front end incl. Structuring fee), 5% (Back end) NAV (PKR) 99.12 99.24 0.12% Dealing Days Monday to Friday *12M Trailing. **12M Trailing, 3M PKRV yield used as Risk Free rate. Cut off times 4:00 PM Pricing Mechanism Forward Management Fee 1% p.a. (on the value of underlying Funds not managed by UBL s) Abdul Rehman Warraich CFA Holdings (% of Total Assets) Al Ameen Shariah Stock Fund 5% Equity Funds 18% 22% 5% Al Ameen Islamic Cash Fund 92% Money Market Funds 79% 75% 92% Others 3% 3% 3% Multiplier Cash 0% 0% 0% Multiplier as at 31st August 2015 2.00 Leverage Nil Nil Nil Multiplier range during the month of August'15 0.00 8.00 Value of 100 Rupees invested at inception 112.0 108.0 104.0 100.0 96.0 92.0 Profit Lock in Profit locked in* 0% AIPPF V Benchmark 2.24% 5.12% 0.76% 2.74% 3.55% 8.68% Disclosures In compliance with SECP's "Circular # 17 of 2012" The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 0, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.00/0.00%. *Profit Lock in feature allows the to realize some of the equity investment gains into Income/money market investments, in order to secure the profit if any for investors. Monthly Yield Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD AIPPF V 0.37% 7.81% 3.35% 10.47% 7.23% 3.34% 1.27% 0.84% 0.12% 1.13% Benchmark 0.03% 5.29% 0.28% 5.31% 7.00% 0.52% 1.43% 0.77% 0.52% 8.71% For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR units and any dividends/returns/profit lock in 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. Capital preservation only applies to the unit holders who hold their investments until maturity date. All returns are calculated assuming reinvested dividends.
Al Ameen Islamic Financial Planning Fund Al Ameen Islamic Active Allocation Plan I AIFPF is an Open end Shariah Compliant Fund of funds that aims to generate returns on Investment as per the respective Allocation Plan by investing in Shariah Compliant Mutual Funds in line with the risk tolerance of the Investor. AIActAP I Benchmark Fund Type Open end FY YTD 1.07% 0.46% Fund Categorization Shariah Compliant Fund of Funds Scheme Aug 15 0.07% 0.48% Risk Profile Medium 1.25% 0.51% Launch Date 22 Jun 15 Standard Deviation* n/a n/a Benchmark Sharpe Ratio** n/a n/a Listing Central Depository Company Deloitte Chartered Accountants Management Co.Rating AM2+ (JCR VIS) Not yet rated Jul'15 Aug'15 % Minimum Investment Rs 10,000/ initial & Rs 1,000/ subsequently Fund Size (PKR Mn) 2,378 2,387 0.38% Load 3% (Front end), 5% (Contingent Load)* NAV (PKR) 101.19 101.25 0.07% Dealing Days Monday to Friday *12M Trailing. **12M Trailing, 3M PKRV yield used as Risk Free rate. Cut off times 4:00 PM Pricing Mechanism Forward Management Fee Upto 1% p.a. (on the value of underlying Funds not managed by UBL s) Muhammad Abdul Hayee Muhammad Abdul Hayee * Applicable on Redemption before maturity Weighted average daily return of KMI 30 index and 6m deposit rate of AA rated (and above) Islamic Banks, based on actual proportion of investment in Equity and Income/ Money Market Holdings (% of Total Assets) Al Ameen Shariah Stock Fund 85% Equity Funds 25% 48% 85% Al Ameen Islamic Cash Fund 13% Money Market Funds 72% 49% 13% Al Ameen Islamic Sovereign Fund 0% Income Funds 0% 0% 0% Others 1% 1% 1% Cash 5% 2% 1% Leverage Nil Nil 0% Value of 100 Rupees invested at inception 105.0 103.0 101.0 99.0 97.0 95.0 AIActAP I Benchmark 1.25% 0.51% Disclosures In compliance with SECP's "Circular # 17 of 2012" The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 88,141, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.00/0.00%. Monthly Yield Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD AIActAP I 0.18% 1.01% 0.07% 1.25% Benchmark 0.05% 0.95% 0.48% 0.51% For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR units and any dividends/returns/profit lock in 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. Capital preservation only applies to the unit holders who hold their investments until maturity date. All returns are calculated assuming reinvested dividends.
Al Ameen Islamic Retirement Savings Fund (Formerly UBL Islamic Retirement Savings Fund) AIRSF is a Shariah compliant open end fund that aims to provide a secure source of savings and regular income after retirement to the Participants. The Participants would contribute to the Fund during their working life and would typically withdraw from the Fund on or after retirement. Debt Money Market Equity Fund Type Open end FY YTD 4.16% p.a. 4.38% p.a. 6.49% Fund Categorization Shariah Compliant Voluntary Pension Scheme Aug 15 4.06% p.a. 4.11% p.a. 1.53% Risk Profile Investor dependent Simple annualization methodology used for Debt and Money Market Sub Fund Launch Date Benchmark 19 May 10 N/A Debt Money Market Equity Central Depository Company (CDC) FY YTD 4.23% p.a. 4.46% p.a. 6.49% BDO Ebrahim & Co Aug 15 4.14% p.a. 4.19% p.a. 1.53% Pension Manager Rating AM2+ (JCR VIS) (CAGR) 7.71% p.a. 7.05% p.a. 35.59% p.a. Not yet rated Morningstar annualization methodology used for Debt and Money Market Sub Fund Minimum Investment Rs. 500 Load 3% (Front end) Expense Ratio ^ 2.23% 2.24% 2.55% Dealing Days Monday to Friday Fund Size (PKR Mn) 262 162 752 Cut off times 4:00 PM NAV (PKR) 148.39 143.65 504.42 Pricing Mechanism Forward ^ NAV based Management Fee 1.5% p.a. AIRSF Debt (% of Total Assets) Jun'15 Jul'15 Aug'15 Asmar Hamoodi Shams Gop Ijarah Sukuk 41% 41% 68% TFC/Sukuk 4% 4% 4% Abdul Rehman Warraich CFA, Ali Alvi Cash & Equivalent Placements with banks Others 45% 44% 17% Asmar Hamoodi Shams 9% 9% 8% Equity Sector Allocation (% of Total Assets) 2% 3% 3% Nil Nil Nil Others, 37% Cement, 26% Leverage AIRSF Money Market (% of Total Assets) Jun'15 Jul'15 Aug'15 Power Gop Ijarah Sukuk 61% 61% 60% Generation & Placements with banks 17% 17% 17% Distribution, 9% Cash & Equivalent 17% 21% 20% Pharmaceuticals, 5% Others 4% 2% 3% Automobile Fertilizer, 8% Leverage Nil Nil Nil Assembler, 5% AIRSF Equity (% of Total Assets) Jun'15 Jul'15 Aug'15 Equities 89% 93% 90% Cash & Equivalent 10% 7% 8% AIRSF DSF 1 4.11% 5.27% 5.53% 6.72% 7.77% 7.71% Others 1% 1% 2% AIRSF MSF 1 3.64% 5.19% 5.66% 6.40% 7.30% 7.05% Nil Nil Nil AIRSF ESF 2 14.21% 14.61% 59.65% 196.14% 402.80% 404.42% Leverage Top Ten Equity Holdings (% of Total Assets) Kohat Cement Company Limited 6.7% Fauji Cement Co. Limited 5.1% Ferozsons Laboratories Limited 6.1% Fatima Fertilzer Company Limite 4.9% Disclosures In compliance with SECP's "Circular # 17 of 2012" Pioneer Cement Limited 5.5% Kot Addu Power Company Limit 4.7% D.G.Khan Cement Co. Limited 5.1% Pakistan State Oils Limited 4.4% K Electric Limited 5.1% Engro Corporation 4.1% Disclosure of Excess Exposure (Per Entity) as at August 31, 2015 Name of Investment Exposure Type % of NA Limit Excess UBL Ameen Per Entity 15.59% 10.00% 5.59% 1 Returns are annualized using Moringstar Methodology 2 For Debt and Money Market Sub Fund returns for periods greater than one year have been annualized using Morningstar Methodology Debt Sub Fund The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 594,100, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.34/0.23%. Money Market Sub Fund The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 339,349, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 0.30/0.21%. Value of 100 Rupees invested (medium volatility allocation*) 12 months ago 145 135 125 115 Equity Sub Fund The Fund/Scheme has maintained provisions against Workers Welfare Fund liability to the tune of Rs. 6,992,411, if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 4.69/0.93%. 105 95 * 50% Equity, 40% Debt, 10% Money Market Monthly Yield Sep'14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar'15 Apr'15 May'15 Jun'15 Jul'15 Aug'15 CYTD AIRSF Debt (p.a)* 4.14% 5.56% 3.13% 6.48% 8.83% 6.72% 6.19% 7.80% 5.36% 3.88% 4.32% 4.14% 5.88% AIRSF Money Market (p.a)* 2.53% 5.76% 4.07% 6.80% 11.66% 6.05% 6.22% 7.88% 6.24% 1.98% 4.72% 4.19% 6.10% AIRSF Equity 12.04% 4.90% 8.63% 3.58% 8.57% 2.98% 11.17% 14.55% 1.38% 7.25% 4.89% 1.53% 20.72% *Returns are annualized using the Morningstar Methodology For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR 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 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. All returns are calculated assuming reinvested dividends.
Disclosure as per SECP's SCD Circular No. 16, 2014 s Report The periodic returns for the funds have been presented below as per SECP's SCD Circular No. 16 dated July 03, 2014. The returns presented below are: Yearly returns for the last five fiscal years, and Absolute returns for every fiscal year since inception The returns have been annualized for money market, income and aggressive income schemes where the performance evaluation period is less than one year. Last 3 & 5 Fiscal Years FY'11 FY'12 FY'13 FY'14 FY'15 FY'11 FY'12 FY'13 FY'14 FY'15 AICF 6.71% 6.45% 6.55% AIPPF III 1.34% 14.56% Benchmark 6.82% 7.32% 7.24% Benchmark 1.85% 17.14% AISF 11.78% 11.34% 9.09% 8.10% 6.15% AIPPF IV 11.70% Benchmark 7.92% 8.10% 7.09% 7.49% 7.66% Benchmark 19.79% AIIF 4.00% 6.12% 6.91% 14.36% 8.26% AIPPF V 1.70% Benchmark 8.12% 9.47% 8.22% 8.13% 8.48% Benchmark 7.29% AIAAF 5.26% 17.98% AIFPF (AIActAP I) 0.18% Benchmark 7.32% 11.56% Benchmark 0.05% ASSF 26.41% 17.70% 49.59% 34.36% 27.07% Benchmark 26.54% 12.62% 51.20% 29.89% 20.10% AIRSF Debt Sub Fund 8.85% 9.79% 8.13% 7.48% 5.49% AIPPF II 14.15% 13.90% Money Market Sub Fund 7.65% 8.87% 7.79% 6.56% 5.69% Benchmark 14.45% 17.29% Equity Sub Fund 31.54% 14.17% 55.55% 41.13% 45.54% Absolute Returns AICF vs Benchmark (Fund return in top row) AIPPF III vs Benchmark (Fund return in top row) FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 6.7% 12.0% 19.4% 1.3% 16.1% 7.2% 13.4% 21.6% 1.8% 19.3% AISF vs Benchmark (Fund return in top row) AIPPF IV vs Benchmark (Fund return in top row) FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 11.8% 19.9% 30.8% 41.3% 50.0% 11.7% 7.9% 13.7% 21.7% 30.8% 40.9% 19.8% AIIF vs Benchmark (Fund return in top row) AIPPF V vs Benchmark (Fund return in top row) FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 9.1% 9.9% 15.9% 11.3% 18.1% 26.3% 44.4% 56.3% 1.7% 7.5% 14.7% 23.9% 34.0% 46.7% 58.8% 71.7% 86.2% 7.3% AIAAF vs Benchmark (Fund return in top row) AIFPF (AIActAP I) vs Benchmark (Fund return in top row) FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 5.3% 24.2% 0.2% 7.3% 19.7% 0.1% ASSF vs Benchmark (Fund return in top row) FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 AIRSF 14.8% 15.8% 5.5% 9.9% 39.0% 63.6% 144.8% 228.9% 317.9% FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 13.3% 20.0% 3.5% 32.0% 67.1% 88.2% 184.6% 269.7% 344.0% DSF 3.8% 9.4% 20.2% 30.0% 39.7% 47.4% AIPPF II vs Benchmark (Fund return in top row) MSF FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 1.3% 7.9% 17.4% 26.6% 34.9% 42.6% 14.1% 30.0% ESF 14.5% 34.2% 1.3% 29.8% 48.2% 130.6% 225.5% 373.7% 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. All returns are calculated assuming reinvested dividends.