NBP FUNDS

Managing Your Savings

FUND MANAGER REPORT

NOVEMBER 2019

PRESENTATOR
MUHAMMAD TUHA
SHAHID ALI
SHEHERYAR
 INTRODUCTION OF
NATIONAL BANK OF PAKISTAN

NBP Fund Management Limited (NBP Funds) is one of the leading Asset
Management Company (AMC) of Pakistan, managing over 11,560 Crores of
investors’ savings in various investment solutions. The main sponsors of the
company are National Bank of Pakistan (NBP) and Baltoro Growth Fund.

The company has been awarded the highest achievable investment

management rating of AM1 (Very High Quality,) by PACRA. This rating is
based on the company’s professional management team, the sound quality
of systems and processes, sponsors’ strength and performance of funds
under management.
 BENEFITS OF LONG TERM
INVESTMENT

Bank Deposits

Income Opportunity
Fund
Balanced Fund

KSE – 100 Index

Stock Fund
 CAPITAL MARKET REVIEW

Performance of Stock Market KSE –

100 Index

Performance of Stock Market KMI – 30

Index

Current Account Deficit

Foreign Portfolio Inflows

CAPITAL MARKET REVIEW
CAPITAL MARKET REVIEW
 NBP GOVERNMENT SECURITIES LIQUID FUND (NGSLF)
(Formerly: NAFA Government Securities Liquid Fund)
November 30, 2019
Fund Stability Rating: AAA(f)
Investment Objective
To generate optimal return with minimum risk, to provide easy liquidity and reasonable income to its
unit holders by investing primarily in short term Government Securities.

Fund Size: Rs. 2,184 million

ASSET ALLOCATION
Risk Profile: Exceptionally Low

Commercial Paper Performance Period * NGSLF Benchmark **

26%
Placement with Banks November-19 11.5% 12.7%
35%
FYTD-2020 12.4% 12.7%
FY - 2019 8.5% 8.7%
FY - 2018 5.3% 5.4%
FY - 2017 7.6% 5.3%
FY - 2016 5.7% 6.0%
FY - 2015 8.3% 8.7%
T-Bills Since Inception 8.7% 8.6%
39%
* Annualized Return
70% 3 month PKRV & 30% average 3 month deposit rates of three AA
rated banks.
 NBP MONEY MARKET FUND (NMMF)
(Formerly: NAFA Money Market Fund)
November 30, 2019
Fund Stability Rating: AA(f)
Investment Objective
To provide stable income stream with preservation of capital by investing in AA and above rated
banks and money market instruments.

Fund Size: Rs. 26,033 million

ASSET ALLOCATION
Risk Profile: Very Low

Performance Period * NMMF Benchmark **

Other Including Receivables November-19 11.5% 12.7%
1%
T-Bills FYTD-2020 12.6% 12.7%
30%
FY - 2019 9.0% 8.7%
FY - 2018 5.6% 5.4%
FY - 2017 6.6% 5.1%
FY - 2016 6.3% 4.6%
FY - 2015 8.9% 6.8%
Bank Deposits Since Inception 8.1% 6.7%
61% Commercial Paper
8% * Annualized Return
** 70% 3-Month PKRV & 30% average 3-Month deposit rates
of three AA rated banks as selected by MUFAP
effective from September 01, 2016; Previously 3-Month
deposit rates (AA & above rated banks)
 NBP GOVERNMENT SECURITIES SAVINGS FUND (NGSSF)
(Formerly: NAFA Government Securities Savings Fund)
November 30, 2019
Fund Stability Rating: AA(f)
Investment Objective
To provide competitive return from portfolio of low credit risk by investing primarily in Government
Securities.

Fund Size: Rs. 533 million

Risk Profile: Low

Performance Period * NMMF

NGSSF Benchmark **
November-19 7.4% 13.4%
FYTD-2020 18.7% 13.6%
FY - 2019 7.8% 9.9%
FY - 2018 5.0% 6.2%
FY - 2017 5.8% 5.9%
FY - 2016 6.5% 6.2%
Since Inception 8.7% 7.9%
* Annualized Return
6-month PKRV

effective from September 01, 2016; Previously 70% 6-Month

PKRV & 30% average 3 month deposit rates (A+ & above
 NBP GOVERNMENT SECURITIES PLAN-1 (NGSP-1)
November 30, 2019
Fund Stability Rating: AA(f)
Investment Objective
To provide attractive return with capital preservation at maturity of the plan, by investing in Government
Securities not exceeding maturity of the plan.

Fund Size: Rs. 271 million

Risk Profile: Low

Performance Period * NMMF

NGSP-1 Benchmark **

November-19 3.7% 13.4%

FYTD-2020 15.3% 13.6%

Since Inception 9.9% 12.9%

* Simple Annualized Return
6-month PKRV
 NBP MAHANA AMDANI FUND (NGAF)
(Formerly: NAFA Savings Plus Fund)
November 30, 2019
Fund Stability Rating: AA(f)
Investment Objective
To minimize risk, preserve capital and generate a reasonable return along with a high degree of liquidity
from a portfolio primarily constituted of bank deposits and money market instruments.

Fund Size: Rs. 2,438 million

Risk Profile: Very Low

Performance Period * NMMF

NMAF Benchmark **
November-19 12.3% 13.5%
FYTD-2020 12.4% 13.7%
FY - 2019 9.1% 10.2%
FY - 2018 5.4% 6.3%
FY - 2017 8.1% 5.8%
FY - 2016 6.3% 4.7%
FY - 2015 8.7% 6.7%
Since Inception 8.7% 7.5%
* Annualized Return
6-month KIBOR

effective from September 01, 2016; Previously average 6-Month

deposit rate (A & above rated banks)
 NBP FINANCIAL SECTOR INCOME FUND (NFSIF)
(Formerly: NAFA Financial Sector Income Fund)
November 30, 2019
Fund Stability Rating: A+(f)
Investment Objective
To provide income enhancement and preservation of capital by investing in prime quality Financial Sector
TFCs/Sukuks, Bank deposits and short term money market instruments.

Fund Size: Rs. 6,785 million

Risk Profile: Low

Performance Period * NMMF

NSIF Benchmark **
November-19 13.9% 13.5%
FYTD-2020 13.0% 13.7%
FY - 2019 9.3% 10.2%
FY - 2018 6.0% 6.3%
FY - 2017 8.4% 6.0%
FY - 2016 6.4% 5.9%
FY - 2015 10.9% 8.3%
Since Inception 8.9% 8.4%
* Annualized Return
6-month KIBOR

effective from September 01, 2016; Previously 70% 6 Month KIBOR

& 30% average 3 month deposit rates A & above rated banks)
 NBP INCOME OPPORTUNITY FUND (NIOF)
(Formerly: NAFA Income Opportunity Fund)
November 30, 2019
Fund Stability Rating: A(f)
Investment Objective
To seek maximum possible preservation of capital and a reasonable rate of return via investing primarily in
money market and debt securities having good credit rating and liquidity.

Fund Size: Rs. 4,951 million

Risk Profile: Low

Performance Period * NMMF

NIOF Benchmark **
November-19 13.3% 13.5%
FYTD-2020 11.3% 13.7%
FY - 2019 9.2% 10.2%
FY - 2018 5.3% 6.3%
FY - 2017 6.3% 6.1%
FY - 2016 7.5% 6.5%
FY - 2015 13.2% 9.0%
Since Inception 8.2% 10.2%
* Annualized Return
6-month KIBOR
 NBP SAVINGS FUND (NBP-SF)
(Formerly: NAFA Income Fund)
November 30, 2019
Fund Stability Rating: A(f)
Investment Objective

To earn a competitive rate of return while preserving capital to the extent possible by investing in liquid assets.

Fund Size: Rs. 1,183 million

Risk Profile: Low

Performance Period * NBP-SF Benchmark **

November-19 12.3% 13.5%
FYTD-2020 12.4% 13.7%
FY - 2019 9.3% 10.2%
FY - 2018 5.5% 6.3%
FY - 2017 6.5% 6.1%
FY - 2016 6.9% 6.5%
FY - 2015 13.7% 9.0%
Since Inception 5.0% 10.0%
* Annualized Return
6-month KIBOR
 NBP SARMAYA IZAFA FUND (NSIF)
(Formerly: NAFA Asset Allocation Fund)
November 30, 2019
Investment Objective

To earn a competitive rate of return while preserving capital to the extent possible by investing in liquid assets.

Fund Size: Rs. 1,441 million

Risk Profile: Moderate

Performance Period * NSIF Benchmark **

November-19 10.9% 10.3%
FYTD-2020 14.7% 16.2%
FY - 2019 -8.7% -3.9%
FY - 2018 -6.8% -2.8%
FY - 2017 29.9% 14.2%
FY - 2016 7.6% 6.2%
FY - 2015 24.6% 9.6%
Since Inception 14.4% 9.7%
* Annualized Return
Daily weighted return of KSE-30 Total Return Index & 6 month KIBOR
based on fund's
 NBP BALANCED FUND (NBF)
(Formerly: NAFA Multi Asset Fund)
November 30, 2019
Investment Objective
To provide investors with a combination of capital growth and income. NBF aims to achieve attractive returns at
moderate levels of risk by investing in a variety of assets classes such as stock, bonds, money market
instruments, etc.

Fund Size: Rs. 1,521 million

Risk Profile: Moderate

Performance Period * NBF Benchmark **

November-19 10.0% 9.6%
FYTD-2020 13.9% 15.6%
FY - 2019 -8.5% -3.6%
FY - 2018 -6.2% -2.8%
FY - 2017 28.4% 14.1%
FY - 2016 8.7% 7.1%
FY - 2015 26.8% 11.0%
Since Inception 13.3% 8.6%
* Annualized Return
Daily weighted return of KSE-30 Total Return Index & 6 month KIBOR
based on fund's actual allocation
This Was All About “NBP FUND MANAGER
REPORT” from our End