Fund Manager’s Report

January 2021

Risk Profile of Collective Investment Schemes/Plans

Risk Of Principal
Sr. No Name of Collective Investment Scheme Category Risk Profile
Erosion
AKD Aggressive Income Fund (Formerly: AKD Aggressive Fixed Principal at
1 Medium
Income Fund) Income Medium risk
Principal at Low
2 AKD Cash Fund Money Market Low
risk
Shariah Compliant Principal at
3 AKD Islamic Income Fund Medium
Income Medium risk
Principal at High
4 AKD Index Tracker Fund Index Tracker High
risk
Shariah Compliant Principal at High
5 AKD Islamic Stock Fund High
Equity risk
Principal at High
6 AKD Opportunity Fund Equity High
risk

Golden Arrow Stock Fund (Formerly: Golden Principal at High

7 Equity High
Arrow Selected Stocks Fund Limited) risk

DISPUTE RESOLUTION/ COMPLAINTS HANDLING:

Investors may lodge their complaints to our Investor Services Department through any of the following options where our dedicated staff is available 24/7 to
provide assistance: Call at (+92-21) 111-AKD-IML (253465), Toll-free # 0800-25346, Email at info@akdinvestment.com, complaints@akdinvestment.com,
Sales@akdinvestment.com. In case your complaint has not been properly redressed by us, you may lodge your complaint with SECP at the link
https://sdms.secp.gov.pk/. However, please note that SECP will entertain only those complaints which were at first directly requested to be redressed by the
Company and the Company has failed to redress the same. Further, the complaints that are not relevant to SECP’s regulatory domain/competence shall not be
entertained by the SECP.

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 the investment policies and risks involved.
Performance data does not include the cost incurred directly by an investor in the form of sales loads etc.

MUFAP’s Recommended Format

 Fund Manager’s Report
January-2021

AKD Opportunity Fund

Fund Manager’s Comments
During January-2021, AKD Opportunity fund outperformed the benchmarks KSE-100 index. AKD Opportunity Fund (AKDOF) increased by 12.38% versus the KSE-100 which
increased by 6.01%. Fiscal year to date return stood at 80.64% versus Benchmark KSE-100 Index of 34.76% .

Fund Information Fund Performance: January-2021

Investment Objective: : AKDOF filters through the opportunity
presented in the capital markets, searching for the optimal 2.50%
combination of investment strategies, mainly in equities, 2.00%
followed by fixed income and money market as contingent
1.50%
defensive strategy.
1.00%
Fund Type Open-End
0.50%
Category Equity
0.00%
Net Assets (PKR) 3,348,192,867

1-Jan-21
2-Jan-21
3-Jan-21
4-Jan-21
5-Jan-21
6-Jan-21
7-Jan-21
8-Jan-21
9-Jan-21
10-Jan-21
11-Jan-21
12-Jan-21
13-Jan-21
14-Jan-21
15-Jan-21
16-Jan-21
17-Jan-21
18-Jan-21
19-Jan-21
20-Jan-21
21-Jan-21
22-Jan-21
23-Jan-21
24-Jan-21
25-Jan-21
26-Jan-21
27-Jan-21
28-Jan-21
29-Jan-21
-0.50%
NAV (PKR) 121.2047
Risk Profile High -1.00%

Risk of Principal Erosion Principal at high risk -1.50%

Change in KSE-100 Index Change in AKDOF NAV/UNIT
Benchmark KSE-100 Index
Dealing Days Monday to Friday FYTD MTD 365 Days 3 Years* 5 Years* Since Inception**

Cut-off Timings 9:00 am to 5:00 pm KSE-100 34.76% 6.01% 11.42% 5.30% 48.20% 7.77%

Pricing Mechanism Forward Pricing AKDOF 80.64% 12.38% 65.66% 36.60% 95.34% 16.53%

Management Fee 2% FY20 FY19 FY18 FY17 FY16

Sales Load (Front End) 3% KSE-100 1.53% (19.11%) (9.99%) 23.24% 9.84%

Sales Load (Back End) Nil AKDOF 1.65% (20.33%) (13.38%) 35.56% 14.13%

Total Expense Ratio (Absolute )*** 3.13% Asset Allocation (% of Total Assets) 31-Jan-21 31-Dec-20

Date of Fund Launch March, 2006 Equities 95.35% 97.99%

Central Depository
Trustee T-Bills 0.00% 0.00%
Company (CDC)
Auditor Yousuf Adil Cash 4.56% 1.15%

AM3++ by PACRA (08-

Asset Manager Rating Other Assets 0.09% 0.86%
Feb-2020)
4Star(1Yr), 3 Star (3 Yr), Top Ten Equity Holdings (% of Total Assets)
Fund Rating 4 Star (5 Yr) PACRA (01-
TRG Pakistan Ltd 14.12% Javedan Corporation Ltd 3.98%
Sep-2020)
Leverage Nil Pakistan Stock Exchange Ltd 6.85% Al Shaheer Corporation Ltd 3.93%

Fund Manager Jahangir Siddiqui & Co. Ltd 4.80% Hub Power Company Ltd 3.27%

Ms. Anum Dhedhi International Industries Ltd 4.72% Lalpir Power LtdXD 3.26%

Investment Committee Members Habib Bank Ltd. 4.70% K-Electric Ltd 3.10%

Mr. Imran Motiwala Ms. Anum Dhedhi Sector Allocation (% of Total Assets) 31-Jan-21 31-Dec-20

Mr. Muhammad Yaqoob, CFA Mr. Ajay Kumar, CFA Technology & Communication 17.22% 16.32%

Mr. Zarak Quraishi Mr. Bilal Shuja Zaidi INVESTMENT BANK/INV.COS/ 13.68% 15.57%

Mr. Danish Aslam Power Generation & Distribution 12.46% 11.19%

* Cumulative Returns Commercial Banks 11.39% 12.90%
** Geometric Mean Food & Personal Care-Products 7.59% 8.69%
***Total Expense Ratio (TER) includes 1.36% representing government levy and SECP fee
Others
37.65% 35.33%

Value of
Provision held Value of investment after Percentage(%) Percentage (%)
Name of non-compliant investment Type of Investment investment before
(if any) provision of Net Assets of Gross Assets
provision

TRG Pakistan Ltd Equity 499,605,184 0 499,605,184 14.92% 14.12%

Disclosure of Sindh Workers’ Welfare Fund (SWWF)

The Scheme has maintained provisions against Sindh Workers' Welfare Fund liability to the tune of Rs.53.48 million if the same were not made the NAV per unit/return of the Scheme would be higher by Rs. 1.94 or 1.60%.

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 the investment policies and risks involved.

MUFAP’s Recommended Format