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    NBP Riba Free Savings Fund (NRFSF)

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    HIRA -
    NBP RIBA FREE SAVINGS FUND (NRFSF) generated an annualized return of 11.2% for March 2020, outperforming its benchmark return of 6.6%. The fund aims to provide capital preservation, a reasonable rate of return, and high liquidity by investing in Shariah compliant banks and money market securities. Around 79% of its net assets are invested in bank deposits to enhance liquidity. Its top holdings are in Hub Power Company Limited and KE Sukuk. The fund maintains a low risk profile and seeks to generate better returns than Islamic bank profit rates while providing easy liquidity.

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    NBP Riba Free Savings Fund (NRFSF)

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    HIRA -
    22 views1 page
    NBP RIBA FREE SAVINGS FUND (NRFSF) generated an annualized return of 11.2% for March 2020, outperforming its benchmark return of 6.6%. The fund aims to provide capital preservation, a reasonable rate of return, and high liquidity by investing in Shariah compliant banks and money market securities. Around 79% of its net assets are invested in bank deposits to enhance liquidity. Its top holdings are in Hub Power Company Limited and KE Sukuk. The fund maintains a low risk profile and seeks to generate better returns than Islamic bank profit rates while providing easy liquidity.

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    NBP RIBA FREE SAVINGS FUND (NRFSF) generated an annualized return of 11.2% for March 2020, outperforming its benchmark return of 6.6%. The fund aims to provide capital preservation, a reasonable rate of return, and high liquidity by investing in Shariah compliant banks and money market securities. Around 79% of its net assets are invested in bank deposits to enhance liquidity. Its top holdings are in Hub Power Company Limited and KE Sukuk. The fund maintains a low risk profile and seeks to generate better returns than Islamic bank profit rates while providing easy liquidity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views1 page

    NBP Riba Free Savings Fund (NRFSF)

    Uploaded by

    HIRA -
    NBP RIBA FREE SAVINGS FUND (NRFSF) generated an annualized return of 11.2% for March 2020, outperforming its benchmark return of 6.6%. The fund aims to provide capital preservation, a reasonable rate of return, and high liquidity by investing in Shariah compliant banks and money market securities. Around 79% of its net assets are invested in bank deposits to enhance liquidity. Its top holdings are in Hub Power Company Limited and KE Sukuk. The fund maintains a low risk profile and seeks to generate better returns than Islamic bank profit rates while providing easy liquidity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    NBP RIBA FREE SAVINGS FUND (NRFSF)

    (FORMERLY: NAFA RIBA FREE SAVINGS FUND)

    MONTHLY REPORT (MUFAP's Recommended Format) March 2020


    Unit Price (31/03/2020): Rs.11.1320
    Performance %
    Since Launch
    FYTD - Rolling 12 FY - FY - FY - FY - FY - Last 3 Last 5
    Performance Period Mar-2020 August 20,
    2020 Months 2019 2018 2017 2016 2015 Years* Years*
    2010*
    NBP RIBA FREE SAVINGS FUND
    (FORMERLY: NAFA RIBA FREE 11.2% 12.1% 11.9% 8.8% 5.2% 5.9% 5.5% 7.4% 8.2% 7.2% 8.1%
    SAVINGS FUND)

    BENCHMARK 6.6% 6.3% 6.0% 3.7% 2.4% 3.1% 4.9% 6.7% 3.8% 4.1% 5.7%

    * Annualized Return Based on Morning Star Methodology. All other returns are Annualized Simple Return.
    The performance reported is net of management fee & all other expenses and based on dividend reinvestment gross of with-holding tax where applicable.

    General Information Investment Objective


    Launch Date: August 20, 2010 To provide preservation of capital and earn a reasonable rate of return along with a
    Fund Size: Rs. 5,811 million high degree of liquidity by investing in Shariah Compliant banks and money market /
    Type: Open-end – Shari'ah Compliant Income debt securities.
    Dealing Days: Daily – Monday to Saturday Fund Manager Commentary
    Dealing Time: (Mon - Thr) 9:00 A.M to 5:00 P.M The Fund generated an annualized return of 11.2% p.a. for the month of March 2020
    (Friday) 9:00 A.M to 5:30 P.M (Saturday) 9:00 A.M versus the Benchmark return of 6.6% p.a thus registering an outperformance of 4.6%
    to 1:00 P.M p.a. This reported return is net of management fee and all other expenses.
    Settlement: 2-3 business days The Fund aims to consistently provide better return than the profit rates offered by
    Pricing Mechanism: Forward Pricing Islamic Banks / Islamic windows of commercial banks, while also providing easy
    Load: Front End Load (Individual): without life liquidity along with a high-quality credit profile.
    Takaful 0.5%, with life Takaful 3% (Nil on
    investment above Rs. 26 million) Around 79% of net assets of the portfolio are invested in bank deposits which enhance
    Front End Load (Other): 0.5% (Nil on the liquidity profile of the Fund. The weighted average time to maturity of the Fund is
    investment above Rs. 16 million) 0.8 year.
    Back End Load: NIL
    Management Fee: 6% of Net Income (min: 0.5% p.a., max: 1.25% We will rebalance the allocation of the Fund proactively based on the capital market
    p.a.) w.e.f 12-jul-19. 0.73% p.a. of average net outlook.
    assets during the month.
    Total Expense Ratio: 2.03% p.a. (including 0.36% government levies)
    Credit Quality of the Portfolio as of March 31 , 2020 (% of Total Assets)
    Selling & Marketing Expenses: 0.7% p.a. AAA 4.4%
    Risk Profile: Very Low AA+ 20.4%
    Fund Stability Rating: "A(f)" by PACRA AA- 15.5%
    Listing: Pakistan Stock Exchange A+ 25.8%
    Custodian & Trustee: Central Depository Company (CDC) A- 32.3%
    Auditors: Deloitte Yousuf Adil Chartered Accountants
    Un-rated 0.1%
    Benchmark: 6-month average deposit rates of three A rated
    Islamic Banks/Islamic windows of conventional Others including receivables 1.5%
    banks as selected by MUFAP Total 100.0%
    Fund Manager: Muhammad Ali Bhabha CFA,FRM
    Minimum: Growth Unit: Rs. 10,000/-
    Subscription: Income Unit: Rs. 100,000/-
    Asset Manager Rating: AM1 by PACRA (Very High Quality) Name of the Members of Investment Committee
    Asset Allocation (% of Total Assets) 31-Mar-20 29-Feb-20 Dr. Amjad Waheed, CFA
    Sukuks 20.4% 9.1% Sajjad Anwar, CFA
    Placement with Banks (Islamic) 0.0% 14.3% Muhammad Ali Bhabha, CFA, FRM
    Commercial Paper (Islamic) 0.0% 5.0% Hassan Raza, CFA
    Bank Deposits 78.1% 70.3%
    Others including receivables 1.5% 1.3%
    Total 100.0% 100.0%
    Leverage Nil Nil

    Top Sukuk (as at March 31 , 2020) (% of Total Assets)


    Hub Power Company Limited 19-MAR-20 19-MAR-24 11.9%
    KE Sukuk (Pre-IPO) 27-DEC-19 27-DEC-26 8.5%

    Sindh Workers' Welfare Fund (SWWF)


    The scheme has maintained provisions against Sindh Workers' Welfare Fund's
    liability to the tune of Rs. 25,950,724/-. If the same were not made the NAV per
    unit/last one year return of scheme would be higher by Rs. 0.0497/0.5% For details
    investors are advised to read note 11.1 of the latest financial statements of
    the Scheme.

    Notes: 1) The calculation of performance does not include cost of front end load.
    2) Taxes apply. Further, tax credit also available as per section 62 of the Income Tax Ordinance, 2001.
    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.
    Page 04

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