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  • AKD Index Tracker Fund: Fund Manager's Comments

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    Ali Raza
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    The AKD Index Tracker Fund (AKDITF) NAV decreased 0.66% in May 2020, underperforming the 0.53% decrease of its KSE-100 benchmark index. For the fiscal year to date, the AKDITF return was -1.50% compared to the benchmark return of 0.09%. The fund seeks to track the KSE-100 index with up to 85% accuracy, is open-ended with high risk, and had net assets of PKR 382 million as of May 2020.

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    AKDITFPMMay2020

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    The AKD Index Tracker Fund (AKDITF) NAV decreased 0.66% in May 2020, underperforming the 0.53% decrease of its KSE-100 benchmark index. For the fiscal year to date, the AKDITF return was -1.50% compared to the benchmark return of 0.09%. The fund seeks to track the KSE-100 index with up to 85% accuracy, is open-ended with high risk, and had net assets of PKR 382 million as of May 2020.

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    © All Rights Reserved
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    4 views1 page

    AKD Index Tracker Fund: Fund Manager's Comments

    Uploaded by

    Ali Raza
    The AKD Index Tracker Fund (AKDITF) NAV decreased 0.66% in May 2020, underperforming the 0.53% decrease of its KSE-100 benchmark index. For the fiscal year to date, the AKDITF return was -1.50% compared to the benchmark return of 0.09%. The fund seeks to track the KSE-100 index with up to 85% accuracy, is open-ended with high risk, and had net assets of PKR 382 million as of May 2020.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Fund Manager’s Report

    May 2020

    AKD Index Tracker Fund


    Fund Manager’s Comments
    For the month of May’20, the NAV of the AKD Index Tracker Fund (AKDITF) decreased by 0.66% versus the benchmark KSE-100 Index that decreased
    by 0.53%. The fiscal year to date return of the AKD Index Tracker Fund (AKDITF) stood at -1.50% versus the benchmark KSE-100 Index returns of 0.09%.

    Fund Information Fund Performance: May 2020


    Investment Objective: To track the return of the KSE- 2.00%
    100 index with up to 85% accuracy, providing investors
    with a high quality, in-depth diversification instrument. 1.00%
    Fund Type Open-End 0.00%

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    Category Index Tracker

    6-May-20
    4-May-20
    5-May-20

    7-May-20
    8-May-20
    9-May-20
    Risk Profile High -1.00%
    Risk of Principal Erosion Principal at high risk -2.00%
    Net Assets (PKR) 382,277,302
    Change in KSE-100 Index Change in AKDITF NAV/UNIT
    NAV (PKR) 10.9587
    Benchmark KSE-100 Index
    Dealing Days Monday to Friday 365 Since
    FYTD MTD 3 Years* 5 Years*
    Cut-off Timings 9:00 am to 5:00 pm Days Inception**
    Pricing Mechanism Forward Pricing KSE 100 0.09% (0.53%) (5.68%) (32.93%) 2.65 9.09%
    Management Fee 0.75% (exceptionally low AKDITF (1.50%) (0.66%) (7.17%) (35.58%) (8.59%) 6.30%
    fees for passive FY19 FY18 FY17 FY16 FY15
    management) KSE 100 (19.11)% (9.99)% 23.24% 9.84% 16.01%
    Sales Load (Front End) 1% AKDITF (20.01)% (11.85)% 20.77% 4.73% 13.20%
    Sales Load (Back End) Nil Asset Allocation
    Total Expense Ratio 1.39% (% of Total Assets) 31-May-20 30April-20
    (Absolute) ++ Equities 96.18% 94.74%
    Date of Fund Launch October, 2005 TFCs Nil Nil
    Trustee Central Depository Cash 2.77% 4.26%
    Company (CDC) Other Assets 1.05% 1.00%
    Auditor Deloitte Yousuf Adil Top Ten Equity Holdings (% of Total Assets)
    Asset Manager Rating AM3++ by PACRA(8 Feb 20) Engro Corporation Limited 5.91% Pakistan Petroleum Limited 4.00%
    Leverage Nil
    Fauji Fertilizer Company
    4.90% MCB Bank Limited 3.89%
    Limited
    Fund Manager Hub Power Company
    4.86% Lucky Cement Limited 3.80%
    Limited
    Mr. Ajay Kumar, CFA Oil and Gas Development
    4.73% United Bank Limited 3.01%
    Investment Committee Members Company Limited
    Pakistan Oilfields Limited
    Mr. Imran Motiwala Ms. Anum Dhedhi Habib Bank Limited 4.52% 2.63%
    Mr. Muhammad Yaqoob, CFA Mr. Ajay Kumar, CFA
    Sector Allocation
    Mr. Danish Aslam Mr. Muhammad Taha (% of Total Assets) 31-May-2020 30-April-20
    Mr. Bilal Shuja Zaidi Commercial Banks 20.39% 21.37%
    Fertilizer 14.00% 13.95%
    * Cumulative Returns –Since 2006 Oil and Gas Exploration Companies 13.47% 12.49%
    ** Annualized
    ++Total Expense Ratio (TER) includes 0.14% representing government levy Cement 8.13% 8.14%
    and SECP fee. Power Generation and Distribution Comp 6.26% 6.40%
    The Funds Return are computed on NAV to NAV with dividends reinvested – (Excluding Sales Load) Others 37.75% 37.67%

    Disclosure of Sindh Workers’ Welfare Fund (SWWF)

    "The Scheme has maintained provisions against Sindh Workers' Welfare Fund liability to the tune of Rs. 2.18 million if the same were not made the NAV per unit/return of the Scheme would be higher
    by Re. 0.06 or 0.57%. ''

    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

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