BMA ASSET MANAGEMENT COMPANY LIMITED€¦ · INTRODUCTION BMA Asset Management Company Limited (BMA...
Transcript of BMA ASSET MANAGEMENT COMPANY LIMITED€¦ · INTRODUCTION BMA Asset Management Company Limited (BMA...
THINK INVESTMENTS. THINK BMA
BMA ASSET MANAGEMENT
COMPANY LIMITED CORPORATE PROFILE
INTRODUCTION TO BMA FUNDS
INTRODUCTION BMA Asset Management Company Limited (BMA Funds) is a Non-Banking Finance Company licensed to perform Asset
Management and Investment Advisory Services as per the NBFC Rules, 2003. Incorporated in April 2005 and fully licensed
to carry out asset management and investment advisory services in November 2005. The company began operations in
June 2005.
It is licensed to offer open and closed-end mutual funds in both equity and fixed income asset classes, and has rapidly
established a strong presence as a pioneer in asset management. BMA launched Pakistan ‘s first ever open end off-shore
fund, the BMA Pakistan Opportunities Fund.
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BMA Asset Management Company Limited (BMA) endeavors to follow the best corporate governance practices as laid down in the Code of Corporate Gover-
nance in order to adopt a high level of transparency, accountability and fairness.
With the implementation of the Code of Corporate Governance, BMA has managed to:
TRANSPARENCY & ACCURACY
Ensure that timely and accurate disclosure is
made on all material matters regarding
the corporation, including the financial
situation, performance, ownership and
governance of the company.
RESPONSIBILITIES & DUTIES
Be consistent with the rule of law and clearly
articulate the division of responsibilities among
different supervisory, regulatory and enforce-
ment authorities.
CORPORATE GOVERNANCE
FAIRNESS & EQUITABLE TREATMENT
Ensure the equitable treatment of all sharehold- ers,
including minority shareholders. BMA should ensure
to effectively remedy the violation of all
shareholders’ rights.
ACCOUNTABILITY
Ensure the strategic guidance of the company,
the effective monitoring of management by the
board and the board’s accountability to
the company and its shareholders.
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100% wholly owned subsidiary
Equities
TREC Holder at
Pakistan Stock
Exchange Limited
International,
Institutional & Retail
Desks
Among Pakistan’s Top
3 equity brokers
Global & Domestic
distribution
capabilities
Fixed Income &
Foreign Exchange
Preferred Broker of all
major banks and
financial institutions in
Pakistan
Broker for Government
Securities, Corporate
Bonds & Islamic Sukuks
Member of the
Financial Markets
Association of Pakistan
Investment
Banking
Mergers & Acquisitions
Advisory
Capital Raising
Privatization
Financial Advisory
Islamic Finance
Infrastructure & Real
Estate
Private Equity
Pakistan’s leader in
discretionary portfolio
management
High quality Research Currently manages PKR 8
billion + in assets
Launched 1st Open End
off-shore Equity Fund,&
First Principal Guaranteed
Fund
Currently has Empress
Cash Fund and
Chundrigar Savings
Fund
Provide ‘one-stop
shop’ wealth
management solutions across all asset classes in
Pakistan
Portfolio Management
Consolidated MIS
reporting
Catering to HNWI,
institutional and retail
investors
Raised over 65bn in
assets since inception
Financial Services
Research
Dedicated team of
Analysts with CFA
Accreditation
Pproducts
In-depth coverage of
all industry/sectors
Widely respected and
quoted in Pakistani and
int’l media
C A P I T A L
BMA AT A GLANCE
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BMA ASSET MANAGEMENT COMPANY LIMITED
License Details Regulator | Membership
Asset Management Services
Investment Advisory
Collective Investment Schemes
Discretionary & Non-Discretionary Managed Accounts
Securities & Exchange Commission of Pakistan,
Mutual Fund Association of Pakistan
Securities & Exchange Commission of
Pakistan
BMA CAPITAL MANAGEMENT LIMITED
License Details Regulator | Membership
Stock Broker
Commodity Broker
Financial Market Association
Equities
Commodities
Interbank Foreign Exchange and Money Market Broker
Pakistan Stock Exchange
Pakistan Mercantile Exchange
Financial Markets Association of Pakistan
Registered Service Provider Distribution of Mutual Funds Mutual Funds Association of Pakistan
Underwriting Registered to act as an underwriter Mutual Funds Association of Pakistan
LICENSES/MEMBERSHIPS HELD BY BMA
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Group Marketing Approach
Equities Interbank Financial Services Asset Management
• All major Banks, DFIs & Asset
Management Companies are
clients
• Top 5 Institutional Brokerage
house
• Top Brokerage House for FIPI
(Foreign Investors Portfolio
Investment) in Pakistan
• Largest network of Global
Bulge Bracket Broker Dealers
• Clients include the country’s
top multinationals & local
businesshouses
• Extended network covering
the entire country
• State of the Art mobile & PC
TradingPlatform
• Equity Research covers over
70% of the local stock market
capitalization
• Top 3 Fixed Income & FX
Brokers(Interbank)
• Major Banks, DFIs and all Asset
Management Companies are
clients.
• #1 Independent Third–Party
Products Distributor with
placements of over USD 200
mn
• Distributor for 25+ AMCs
• PKR 9 bn in Discretionary
Portfolio Managed Accounts
• Clients includes HNWIs and
Corporate & Employee
Retirement Funds
• 300+ Corporate Clients
• 5000+ Retail Clients
FIPI
Banks, DFIs & AMCs
Corporates
Retail & HNWI
Po
tential In
vest
ors
SALES AND DISTRIBUTION CAPABILITIES
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AWARDS & MILESTONES
CONSISTENT PERFORMANCE
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Asset Management
More than
PKR 9bn Under Management
Achievement
Asset Management
Pioneers & Innovators
RANK 1 Money Market
Capital Protected fund &
Long term off-shore fund
• The only AMC to launch an offshore fund (BMA Pakistan Opportunities Fund).
• Pioneers in managing discretionary and non - discretionary portfolio accounts.
BMA FUNDS ACHIEVEMENTS
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WHY BMA FUNDS?
WHY BMA FUNDS?
A COMPLETE ASSET MANAGEMENT COMPANY
BMA Funds
BMA Asset Management Company Limited
(BMA Funds) is a Non-Banking Finance Compa- ny
licensed to perform Asset Management and
Investment Advisory Services as per the NBFC
Rules, 2003. Incorporated in April 2005
and fully licensed to carry out asset
management and investment
advisory services in November 2005.
Strong Asset Managemet Capability
BMA is not only one of the pioneers in the
industry but has the capability of providing
consistent returns to its clientele. Key
initiatives include building its institutional
management business, managing Pakistan’s first
US dollar denominated off-shore fund
and launching Pakistan ’ s first
principal guaranteed fund.
Experienced Team of Professionals
Our team has a combined experience of over
fifty years in both international emerging
markets, the Pakistan market and possesses an
intimate understanding of Pakistani equity and
debt markets.
Strong Research Support
A rigorous, transparent investment
process drawing on contact with the top 100
companies and a proprietary research process
based on cash flow and asset valuations
Separately Managemed Accounts (SMAs)
BMA Funds is actively engaged in manag-
ing Separately Managed Accounts
(SMAs), of institutional and High Net-Worth Individual (HNW). Currently, BMA has approxi-
mately Rs.8 billion+ in total assets under
management for a host of corporate
, retirement fund and HNW clients.
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PRODUCTS & PROCESSES
PRODUCT ARRAY
BMA Asset Management is one of the pioneers in the industry and has assets under management of over PKR.8bn. It is continuously working to improve its product
portfolio and provide its investors with the best returns.
Product Offering
Separately Managed Account
Offshore fund focusing on Pakistan equities
Fixed income and cash funds
Products Under Management
Separately Managed Accounts
Equity SMA
Fixed Income SMA
Hybrid SMA
Asset Allocation SMA
Shariah Compliant SMA
Long Short SMA
Mutual Funds
BMA Pakistan Opportunities Fund (BMAPOF)
BMA Chundrigar Road Savings Fund (BCSF)
BMA Empress Cash Fund (BECF)
Product Pipeline
BMA Minhaj Islamic Income Fund
BMA Merewether Asset Allocation Fund
BMA Quant Fund
Derivative Fund
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STRATEGIC ASSET ALLOCATION
We believe that portfolios should be managed in accordance with a strategic (long term) asset allocation plan that provides the most efficient trade-off between
long term return aspirations (‘upside potential’) and the risk of shorter term loss events (Downside Risk).
Research has shown that the real foundation of returns in any portfolio comes from the original asset allocation policy decision (see pie chart).
Investment Philosophy
Construct portfolio that match our clients’risk and return profiles.
Maximize the probability of investment success by minimizing subjective & Judgmental errors.
Combine the skills of in – house portfolio managers with the best investment products available in
the market today.
Research Based Real Foundation of Returns
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Security Selection
11% Market Timing
6%
Other Factors 4%
Asset Allocation Policy 79%
Note: This example is for illustrative purposes only.
INVESTMENT APPROACH
Discretionary Management
BMA is responsible for decisions based on set parameters
•Core in-house portfolio management across classes combined to
the best of in house and 3rd party specialist funds and
strategies
•Best execution
•Full and transparent reporting
•Risk Management
Non Discretionary Management
Client and BMA adopt a joint decision making approach on agreed parameters.
• Equity and fixed income
• Concentrated equity strategies
• Access to BMA Funds and 3 party research
• Best execution
• Risk management
• Access to unique, high conviction ideas
rd
• Offers both a discretionary and non discretionary service including hybrids.
Asset Management
• BMA Investment Management
Sales & Trading
• Equities
• Fixed Income
• Commodities
• Risk Management
Research
• Economics & Politics
• Investment Strategy
• Equity Research
• Fixed Income Research
Investment Banking
• Capital Markets
• Corporate Advisory
• Mergers and Acquisitions
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ACCESS TO BMA FUNDS IN ITS BROAD SENSE
INVESTMENT APPROACH
Investment Approach How We Pick Stocks
Investment Committee
Approved Stocks
Funds Strategy
Continuous Rebalancing
Weights
Final Portfolio
Research Department
Focus List
Asset Allocation
Investment Theme
Liquidation Management
Final Execution
RESEARCH INDEPENDENT IDEA FLOW
INVESTMENT COMMITTEE
FUNDS STRATEGY (EVENTS DRIVEN)
REVIEW PROCESS QUARTERLY / EVENTS DRIVEN
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Company Visit
Investment Ideas
Risk Management
Momentum Indicators
Relative Valuation
FUND MANAGEMENT
PORTFOLIO MANAGER 3
Fund Manager
Quarterly Review
Event Driven Review
Macro Analysis
Political Analysis
Compliance
Economic Analysis
Technical Analysis
Fundamental Analysis
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REPORTING
We attach great importance to keeping our clients regularly informed about the performance of the portfolio. We act in the following ways to do so:
Report to Clients For In-House Fund Management
Statements Fund Report
Weekly / Monthly NAV Reports
Reviews
Quarterly Client Reviews
Investor Relations
Conference Calls or Monthly Meeting with
Account Manager
Review and structure analysis
NAV Statements
Performance reports
Security / Market Assessment
Review of portfolio and market assessment
Investment Action Note
Minutes of investment committee meetings
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OUR CLIENTS
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MANAGEMENT OVERVIEW
MANAGEMENT OVERVIEW
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Mr. Faisal Ali Khan Chief Financial Officer BMA Funds Faisal is a qualified Chartered Accountant from the Institute of Chartered Accountants of Pakistan. He has over 9 years of professional experience ranging from financial reporting, regulatory compliance, budgeting and taxation to corporate and secretarial practices. He has been associated with leading companies in the Oil and Gas and financial services sectors which includes Attock Refinery Limited and Saudi Pak Investment Company.
Mr. Zafar Rehman Fixed Income Manager Vice President Zafar has over 20 years of extensive working experience in the Financial Services Industry of Pakistan. Prior to joining BMA Funds, he worked as the 'Head of Treasury Department' of U Micro-finance Bank Ltd. Zafar has also worked with Arif Habib Investments for 10 years, where he joined the firm in 2001 as the 'Head of Institutional Marketing' & and lately served as the 'SVP-Head of Debt & Money Market Funds'.
Mr. Khaldoon Bin Latif Chief Executive Officer BMA Funds Khaldoon has over 12 years of rich and varied experience in Financial Services. Prior to joining BMA Funds, he was associated with JS Investments Limited and KASB Funds Limited as a Chief Investment Officer (CIO) and Chief Executive Officer (CEO). He has also worked with TAIB Bank BSC – Bahrain, as a managing director of their brokerage, asset management, custody and advisory operation. He has also been associated with the research and trading departments of AKD Securities Limited and PICIC Asset Management Company Limited. He has represented strategic and non strategic shareholders as a director, in a number of different regulated entities.
Mr. Farrukh Hussain Chief Investment Officer BMA Funds Farrukh has 23 years experience of managing various investment instruments, predominantly equity Portfolio Management and system development and research related tasks. Prior to joining BMA Funds, he worked with Crescent Steel and Allied Products Limited, a blue chip manufacturing company of Crescent Group, in the capacity of Manager Finance.
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Mr. Umair Ahmed Khan Fund Manager Vice President – Investments Umair has over 8 years of rich and varied experience in Financial Services. Prior to joining BMA Funds, he was associated with JS Investments Limited as a Fund Manager. He has recently qualified for CFA charter. He has also worked with Itihad LLC, U.A.E. and responsible in managing its treasury operation, business development and advisory operation. After graduation from Bahria University he joined MCB Arif Habib Investments Limited as research analyst while later assigned to manage various equity and fixed income funds. He played a vital role in the advisory to the top management towards the merger between MCB Asset Management and Arif Habib Investments Limited.
Mr. Bilal Saeed Head of Business Development BMA Funds Bilal is responsible for managing existing, as well as developing new relationships with institutional and retail clients. Mr. Saeed serves as a key point for assessment of client risk profile and recommending products/services best suited to their needs. He has gulf experience working in Henyep Investments on global exchanges as well as trading of property and high end luxury cars at Exotic Group in Dubai. In Pakistan Mr. Saeed has worked in Priority Banking at Faysal Banks flagship branch, BMA Capital and now BMA Funds. He is also part of Italian Development committee and Pak-Kyrgyzstan Business Council.
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BMA ASSET MANAGEMENT COMPANY LIMITED 804, Unitower, I.I. Chundrigar Road, Karachi-74000
Tel: 0800 00262 | Fax: +92 21 3242 6829 | www.bmafunds.com
BMAFunds BMA Asset Management Company Ltd.