Funds listed in PakistanMore browse options »

NAME SYMBOL TYPE OBJECTIVEABL AMC Capital Protected Fund (ABLACAP)

ABLACAP:PAOpen-End Fund

Corporate/Preferred-Inv Grade

ABL Cash Fund (ABLCSHA) ABLCSHA:PAOpen-End Fund

ABL Government Securities Fund (ABLGOSF)

ABLGOSF:PAOpen-End Fund

Govt/Agency-Long Term

ABL Government Securities Fund (ABLGOSA)

ABLGOSA:PAOpen-End Fund

Govt/Agency-Long Term

ABL Income Fund (ABLINCM) ABLINCM:PAOpen-End Fund

Region Fund-Geo Focused-Debt

ABL Islamic Income Fund (ABLCASH) ABLCASH:PAOpen-End Fund

Region Fund-Geo Focused-Debt

ABL Stock Fund (ABLSTFD) ABLSTFD:PAOpen-End Fund

Growth

AKD Aggressive Income Fund (AKDINCO)

AKDINCO:PAOpen-End Fund

Government/Corporate

AKD Cash Fund (AKDCASH) AKDCASH:PAOpen-End Fund

AKD Index Tracker Fund (AKDITFA) AKDITFA:PAOpen-End Fund

Index Fund-Large Cap

AKD Opportunity Fund (AKDOPRF) AKDOPRF:PAOpen-End Fund

Growth and Income

Al-Meezan Mutual Fund Ltd (AMMF) AMMF:PAOpen-End Fund

Sector Fund-Equity/Islamic

Alfalah GHP Alpha Fund (ALFGHPA) ALFGHPA:PAOpen-End Fund

Growth

Alfalah GHP Cash Fund (ALFGHPC) ALFGHPC:PAOpen-End Fund

Alfalah GHP Income Multiplier Fund (ALFINMA)

ALFINMA:PAOpen-End Fund

Government/Corporate

Alfalah GHP Islamic Fund (ALFISLM) ALFISLM:PAOpen-End Fund

Balanced

Alfalah GHP Value Fund (ALFVALU) ALFVALU:PAOpen-End Fund

Balanced

AMZ Plus Income Fund (AMZINCO) AMZINCO:PAOpen-End Fund

Government/Corporate

AMZ Plus Stock Fund (AMZSTOK) AMZSTOK:PAOpen-End Fund

Growth and Income

Arif Habib Investment Management - ARIFPIF:PA Open-End Govt/Corp Short Term

Pakistan Income Fund (ARIFPIF) FundArif Habib Investment Management - Pakistan Stock Market Fund (ARIFPSM)

ARIFPSM:PAOpen-End Fund

Growth and Income

Arif Habib Investment Management - Pakistan Strategic Allocation Fund (PSAF)

PSAF:PAOpen-End Fund

Growth

Arif Habib Investment Management - Pakistan Cash Management Fund (PKCASHF)

PKCASHF:PAOpen-End Fund

Arif Habib Investment Management - Pakistan Premier Fund (PPFL)

PPFL:PAOpen-End Fund

Growth

Arif Habib Investment Management-MetroBank-Pakistan Sovereign Fund-December 2012 (ARIFM12)

ARIFM12:PAOpen-End Fund

Government/Agency

Arif Habib Investment Management-MetroBank-Pakistan Sovereign Fund-Perpetual (ARIFMSP)

ARIFMSP:PAOpen-End Fund

Government/Agency

Arif Habib Investment Management - Pakistan Capital Market Fund (ARIFPCM)

ARIFPCM:PAOpen-End Fund

Balanced

Arif Habib Investment Management - Pakistan Capital Protected Fund 1 (PCPF/1)

PCPF/1:PAClosed-End Fund

Balanced

Asian Stocks Fund Ltd (ASFL) ASFL:PAClosed-End Fund

Growth and Income

Askari Asset Allocation Fund (ASKAAFB)

ASKAAFB:PAOpen-End Fund

Balanced

Askari Asset Allocation Fund (ASKAAFC)

ASKAAFC:PAOpen-End Fund

Balanced

Askari Equity Fund (ASKEQTY) ASKEQTY:PAOpen-End Fund

Blend

Askari High Yield Scheme (ASKINCO) ASKINCO:PAOpen-End Fund

Askari Islamic Asset Allocation Fund (ASKISAB)

ASKISAB:PAOpen-End Fund

Sector Fund-Ast Alloc/Islamic

Askari Islamic Asset Allocation Fund (ASKISAC)

ASKISAC:PAOpen-End Fund

Sector Fund-Ast Alloc/Islamic

Askari Islamic Income Fund (ASKISIB) ASKISIB:PAOpen-End Fund

Sector Fund-Debt/Islamic

Askari Islamic Income Fund (ASKISIC) ASKISIC:PAOpen-End Fund

Sector Fund-Debt/Islamic

Askari Sovereign Cash Fund (ASKSOVC)

ASKSOVC:PAOpen-End Fund

Govt/Agency-Short Term

Askari Sovereign Yield Enhancer Fund ASKSOYE:PA Open-End Sector Fund-Debt

(ASKSOYE) Fund

Atlas Fund of Funds (ATFF) ATFF:PAFund of Funds

Growth

Atlas Income Fund (ATLINCF) ATLINCF:PAOpen-End Fund

Government/Corporate

Atlas Islamic Income Fund (ATISINC) ATISINC:PAOpen-End Fund

Sector Fund-Debt/Islamic

Atlas Islamic Stock Fund (ATLISLM) ATLISLM:PAOpen-End Fund

Sector Fund-Equity/Islamic

Atlas Money Market Fund/Pakistan (ATLMMKT)

ATLMMKT:PAOpen-End Fund

Atlas Pension Islamic Fund - Debt Sub-Fund (APIFDBT)

APIFDBT:PAOpen-End Fund

Sector Fund-Debt/Islamic

Atlas Pension Islamic Fund - Equity Sub-Fund (APIFEQY)

APIFEQY:PAOpen-End Fund

Sector Fund-Equity/Islamic

Atlas Pension Islamic Fund - Money Market Sub-Fund (APIFMMK)

APIFMMK:PAOpen-End Fund

Atlas Stock Market Fund (ATLSTMF) ATLSTMF:PAOpen-End Fund

Growth and Income

BMA Chundrigar Road Savings Fund (BMAROAD)

BMAROAD:PAOpen-End Fund

Govt/Corp Intermediate

BMA Empress Cash Fund (BMAEMPC) BMAEMPC:PAOpen-End Fund

Crosby Dragon Fund (CRODRAG) CRODRAG:PAOpen-End Fund

Growth and Income

Dawood Income Fund (DAMONEY) DAMONEY:PAOpen-End Fund

Govt/Corp Long Term

Dawood Islamic Fund (DAISLAM) DAISLAM:PAOpen-End Fund

Balanced

Dominion Stock Fund Ltd (DOMF) DOMF:PAClosed-End Fund

Growth

Faysal Asset Allocation Fund (FAYSALA)

FAYSALA:PAOpen-End Fund

Global Asset Allocation

Faysal Balanced Growth Fund (FAYBALG)

FAYBALG:PAOpen-End Fund

Balanced

Faysal Income & Growth Fund (FAYINGR)

FAYINGR:PAOpen-End Fund

Government/Corporate

Faysal Islamic Savings Growth Fund (FAYISSG)

FAYISSG:PAOpen-End Fund

Sector Fund-Debt/Islamic

Faysal Money Market Fund (FAYMMKT)

FAYMMKT:PAOpen-End Fund

Faysal Savings Growth Fund - A (FAYSAVA)

FAYSAVA:PAOpen-End Fund

Government/Agency

First Capital Mutual Fund Ltd/FUND CPMFI:PA Closed- Growth and Income

(CPMFI) End Fund

First Dawood Mutual Fund (FDMF) FDMF:PAClosed-End Fund

Balanced

First Habib Cash Fund (FIRHABC) FIRHABC:PAOpen-End Fund

First Habib Islamic Balanced Fund (FHISBAL)

FHISBAL:PAOpen-End Fund

Sector Fund-Ast Alloc/Islamic

Golden Arrow Selected Stock Fund (GASF)

GASF:PAClosed-End Fund

Growth and Income

Habib Asset Management - First Habib Income Fund (HABFINC)

HABFINC:PAOpen-End Fund

Government/Corporate

Habib Asset Management - First Habib Stock Fund (HABFSTK)

HABFSTK:PAOpen-End Fund

Value

HBL Income Fund (HBLINCM) HBLINCM:PAOpen-End Fund

Government/Corporate

HBL Islamic Money Market Fund (HBLIMMK)

HBLIMMK:PAOpen-End Fund

HBL Islamic Stock Fund (HBLISST) HBLISST:PAOpen-End Fund

Sector Fund-Equity/Islamic

HBL Money Market Fund (HBMMMKT)

HBMMMKT:PAOpen-End Fund

HBL Multi-Asset Fund (HBLMTIA) HBLMTIA:PAOpen-End Fund

Balanced

HBL Stock Fund - B (HBLSTOK) HBLSTOK:PAOpen-End Fund

Growth and Income

IGI Aggressive Income Fund (POBOPAP)

POBOPAP:PAOpen-End Fund

Government/Corporate

IGI Capital Protected Fund (IGICPRO) IGICPRO:PAOpen-End Fund

Government/Corporate

IGI Income Fund - A (IGINCMA) IGINCMA:PAOpen-End Fund

Government/Corporate

IGI Islamic Income Fund (IGISLIN) IGISLIN:PAOpen-End Fund

Sector Fund-Debt/Islamic

IGI Money Market Fund (IGIMMKT) IGIMMKT:PAOpen-End Fund

IGI Stock Fund - B (IGISTKB) IGISTKB:PAOpen-End Fund

Growth

Investec Mutual Fund (INMF) INMF:PAClosed-End Fund

Flexible Portfolio

JS Aggressive Asset Allocation Fund (ABAAGRE)

ABAAGRE:PAOpen-End Fund

Flexible Portfolio

JS Aggressive Income Fund (JSAGRIC) JSAGRIC:PAOpen-End Fund

Government/Corporate

JS Cash Fund (JSCASHF) JSCASHF:PA Open-End

Fund

JS Fund of Funds (ABAMFOF) ABAMFOF:PAFund of Funds

Balanced

JS Growth Fund (JSGF) JSGF:PAClosed-End Fund

Growth and Income

JS Income Fund (ABAUTIF) ABAUTIF:PAOpen-End Fund

Government/Corporate

JS Islamic Fund (ABAISLM) ABAISLM:PAOpen-End Fund

Balanced

JS Islamic Pension Savings Fund - Money Market (JSIMMKT)

JSIMMKT:PAOpen-End Fund

JS Islamic Pension Savings Fund - Debt (JSIPDBT)

JSIPDBT:PAOpen-End Fund

Sector Fund-Debt/Islamic

JS Islamic Pension Savings Fund - Equity (JSIPEQY)

JSIPEQY:PAOpen-End Fund

Sector Fund-Equity/Islamic

JS KSE 30 Index Fund (ABAUA30) ABAUA30:PAOpen-End Fund

Index Fund

JS Value Fund Ltd (JSVFL) JSVFL:PAClosed-End Fund

Balanced

KASB Asset Allocation Fund (KASBBAL)

KASBBAL:PAOpen-End Fund

Balanced

KASB Cash Fund (KASCASH) KASCASH:PAOpen-End Fund

KASB Income Opportunity Fund (KASLIQL)

KASLIQL:PAOpen-End Fund

KASB Income Opportunity Fund (KASLIQU)

KASLIQU:PAOpen-End Fund

KASB Islamic Income Opportunity Fund (KASISIN)

KASISIN:PAOpen-End Fund

Government/Corporate

KASB Stock Market Fund (KASSTOK) KASSTOK:PAOpen-End Fund

Growth and Income

KSE Meezan Index Fund (KSEMIND) KSEMIND:PAOpen-End Fund

Index Fund

Lakson Asset Allocation Developed Markets Fund (LKAADMF)

LKAADMF:PAOpen-End Fund

Flexible Portfolio

Lakson Asset Allocation Emerging Markets Fund (LKAAEMF)

LKAAEMF:PAOpen-End Fund

Global Asset Allocation

Lakson Asset Allocation Global Commodities Fund (LKAAGCF)

LKAAGCF:PAOpen-End Fund

Commodity

Lakson Equity Fund (LAKSEQT) LAKSEQT:PAOpen-End Fund

Growth

Lakson Income Fund (LAKSINC) LAKSINC:PAOpen-End Fund

Government/Agency

Lakson Money Market Fund LAKSMMF:PA Open-End

(LAKSMMF) FundMCB Cash Management Optimizer Fund (MCBCSMO)

MCBCSMO:PAOpen-End Fund

MCB Dynamic Allocation Fund (MCBDALL)

MCBDALL:PAOpen-End Fund

Balanced

MCB Dynamic Cash Fund (MCBCASH) MCBCASH:PAOpen-End Fund

MCB Dynamic Stock Fund (MCBSTOK) MCBSTOK:PAOpen-End Fund

Growth and Income

MCB Islamic Income Fund - A (MCBISIA)

MCBISIA:PAOpen-End Fund

Sector Fund-Debt/Islamic

MCB Islamic Income Fund - B (MCBISIB)

MCBISIB:PAOpen-End Fund

Sector Fund-Debt/Islamic

Meezan Balanced Fund (MBF) MBF:PAClosed-End Fund

Sector Fund-Ast Alloc/Islamic

Meezan Capital Protected Fund II (MEEZCAP)

MEEZCAP:PAOpen-End Fund

Sector Fund-Ast Alloc/Islamic

Meezan Cash Fund (MEEZCSH) MEEZCSH:PAOpen-End Fund

Sector Fund-Debt/Islamic

Meezan Islamic Fund (MEZISLM) MEZISLM:PAOpen-End Fund

Growth and Income

Meezan Islamic Income Fund - B (MZMIIFB)

MZMIIFB:PAOpen-End Fund

Sector Fund-Debt/Islamic

Meezan Islamic Income Fund - C (MZMIIFC)

MZMIIFC:PAOpen-End Fund

Sector Fund-Debt/Islamic

Meezan Sovereign Fund (MEEZSOV) MEEZSOV:PAOpen-End Fund

Government/Corporate

Meezan Tahaffuz Pension Fund - Debt (MEETPDT)

MEETPDT:PAOpen-End Fund

Sector Fund-Debt/Islamic

Meezan Tahaffuz Pension Fund - Equity (MEETPEQ)

MEETPEQ:PAOpen-End Fund

Sector Fund-Equity/Islamic

Meezan Tahaffuz Pension Fund - Money Market (MEETPMM)

MEETPMM:PAOpen-End Fund

NAFA Asset Allocation Fund (NAFAASA)

NAFAASA:PAOpen-End Fund

Flexible Portfolio

NAFA Financial Sector Income Fund (NAFAFSI)

NAFAFSI:PAOpen-End Fund

Sector Fund-Debt

NAFA Government Securities Liquid Fund (NAFAGSL)

NAFAGSL:PAOpen-End Fund

Govt/Agency-Short Term

NAFA Income Fund (NAFANIF) NAFANIF:PAOpen-End Fund

Government/Corporate

NAFA Income Opportunity (NAFCASH) NAFCASH:PAOpen-End Fund

NAFA Islamic Aggressive Income Fund NAFISLI:PA Open-End Sector Fund-Debt/Islamic

(NAFISLI) FundNAFA Islamic Multi Asset Fund (NAFISMA)

NAFISMA:PAOpen-End Fund

Sector Fund-Ast Alloc/Islamic

NAFA Money Market Fund (NAFAMMF)

NAFAMMF:PAOpen-End Fund

NAFA Multi Asset Fund (NAFMULT) NAFMULT:PAOpen-End Fund

Balanced

NAFA Riba Free Savings Fund (NAFARFS)

NAFARFS:PAOpen-End Fund

Sector Fund-Debt/Islamic

NAFA Savings Plus Fund (NAFASAV) NAFASAV:PAOpen-End Fund

NAFA Stock Fund (NAFSTOK) NAFSTOK:PAOpen-End Fund

Growth and Income

Namco Balanced Fund (NBF) NBF:PAClosed-End Fund

Balanced

NAMCO Income Fund (NAMCOIB) NAMCOIB:PAOpen-End Fund

Government/Corporate

National Investment Trust-UNIT Fund (NITRUST)

NITRUST:PAOpen-End Fund

Growth and Income

National Investment Trust - Income Fund - RS (NITIFRS)

NITIFRS:PAOpen-End Fund

Global Debt

NIT Government Bond Fund (NITGLOB)

NITGLOB:PAOpen-End Fund

Government/Agency

Pak Oman Advantage Asset Allocation Fund (PAKOAAA)

PAKOAAA:PAOpen-End Fund

Region Fund-Geo Focused-Asset

Pak Oman Advantage Fund (POAF) POAF:PAClosed-End Fund

Govt/Corp Long Term

Pak Oman Advantage Islamic Income Fund (PAKOAII)

PAKOAII:PAOpen-End Fund

Sector Fund-Equity/Islamic

Pak Oman Government Securities Fund (POGOVMS)

POGOVMS:PAOpen-End Fund

Government/Agency

Pak Oman Islamic Asset Allocation Fund (PAKOAIS)

PAKOAIS:PAOpen-End Fund

Sector Fund-Equity/Islamic

Pakistan Income Enhancement Fund (PAKIENH)

PAKIENH:PAOpen-End Fund

Index Fund-Debt

Pakistan International Element Islamic Asset Allocation Fund (ARIFISL)

ARIFISL:PAOpen-End Fund

Balanced

Pakistan Islamic Pension Fund - Debt (PAKIPDB)

PAKIPDB:PAOpen-End Fund

Government/Corporate

Pakistan Islamic Pension Fund - Equity (PAKIPEQ)

PAKIPEQ:PAOpen-End Fund

Growth

Pakistan Islamic Pension Fund - Money Market (PAKIPMM)

PAKIPMM:PAOpen-End Fund

PICIC Cash Fund - C (PICCSFC) PICCSFC:PA Open-End

Fund

PICIC Cash Fund - D (PICCSFD) PICCSFD:PAOpen-End Fund

PICIC Energy Fund (PEF) PEF:PAClosed-End Fund

Sector Fund-Energy

PICIC Growth Fund (PGF) PGF:PAClosed-End Fund

Growth

PICIC Income Fund (PICIINC) PICIINC:PAOpen-End Fund

Global Debt

PICIC Investment Fund (PIF) PIF:PAClosed-End Fund

Growth

PICIC Stock Fund (PICICST) PICICST:PAOpen-End Fund

Global Equity

Prudential Stock Fund (PUDF) PUDF:PAClosed-End Fund

Growth and Income

Safeway Mutual Fund Ltd (SFWF) SFWF:PAClosed-End Fund

Balanced

Tri-Star Mutiual Fund Ltd (TSMF) TSMF:PAClosed-End Fund

Growth and Income

UBL Government Securities Fund (UBLGVTS)

UBLGVTS:PAOpen-End Fund

Global Debt

UBL Islamic Cash Fund (UBLISCS) UBLISCS:PAOpen-End Fund

UBL Islamic Retirement Savings Fund - Money Market (UBLRMMK)

UBLRMMK:PAOpen-End Fund

UBL Islamic Retirement Savings Fund - Debt (UBLRDBT)

UBLRDBT:PAOpen-End Fund

Government/Corporate

UBL Islamic Retirement Savings Fund - Equity (UBLREQY)

UBLREQY:PAOpen-End Fund

Growth

UBL Islamic Sovereign Fund (UBLISSF) UBLISSF:PAOpen-End Fund

UBL Liquidity Plus Fund - C RETAIL (UBLLIQC)

UBLLIQC:PAOpen-End Fund

Government/Corporate

UBL Savings Income Fund (UBLSAIN) UBLSAIN:PAOpen-End Fund

Government/Corporate

UBL Shariah Stock Fund (UBLISLM) UBLISLM:PAOpen-End Fund

Sector Fund-Ast Alloc/Islamic

Unit Trust of Pakistan (ABAUTPA) ABAUTPA:PAOpen-End Fund

Balanced

United Growth and Income Fund - GROWTH (UBLGROW)

UBLGROW:PAOpen-End Fund

Government/Corporate

United Growth and Income Fund - INCOME (UBLINCO)

UBLINCO:PAOpen-End Fund

Government/Corporate

United Islamic Income Fund - GROWTH UBLISIG:PA Open-End Government/Corporate

UNITS (UBLISIG) FundUnited Islamic Income Fund - INCOME UNITS (UBLISII)

UBLISII:PAOpen-End Fund

Government/Corporate

United Stock Advantage Fund (UBLADVN)

UBLADVN:PAOpen-End Fund

Growth and Income

WE Balanced Fund (WEBF) WEBF:PAClosed-End Fund

Balanced

Mutual funds in Pakistan are registered and legally established in the form of a Trust, under the Trust Act of 1882. The mutual fund industry is regulated by, the Securities and Exchange Commission of Pakistan (SECP) which licenses each Asset Management Company in strict compliance with the NBFC Rules, 2003 and requires all AMC’s to obtain an independent rating.

The AMC appoints a team of investment professionals, supported by a team of research analysts to manage the portfolio of the fund in conformity with the stated Investment objective.

How do Pakistan’s Asset Management Companies Work (AMC)?

In Pakistan, asset management companies (AMCs) are licensed and regulated by the Securities and Exchange Commission of Pakistan (SECP)

What categories of funds are available in Pakistan?

Types of Mutual Funds (By Objective)Open-ended or closed-end funds can be of several types; however the most basic classifications are stock funds, income funds, hybrid funds or specialty funds. Further classifications evolve as each fund pursues diverse investment strategies for instance: Islamic Equity Funds, Sector Funds, Global Equity Funds, High Yield Debt Funds, Aggressive Equity Funds, Income Funds and so on.

Stock Funds Income and Money Market Funds Hybrid Funds Pension Funds Islamic Funds Specialty Funds

Who Regulates Mutual funds in Pakistan?

All fund companies operating in Pakistan are subject to strict regulation and oversight by the Securities and Exchange Commission Pakistan (SECP). As part of this regulation, all funds must provide investors with full and complete disclosure about the fund in a written prospectus describing the fund’s investment objective, its investment methods, information on how to purchase and redeem shares, information about the investment adviser, risks of investments and fund fees and expenses.

Unit holders are also to be provided with annual and semiannual reports that contain recent information on the fund’s portfolio, performance, and investment goals and policies.

Taxes on Mutual funds:

The income of mutual funds is exempt from Income Tax, if not less than 90% of the income of the year, as reduced by capital gains is distributed amongst the unit holders as dividend or bonus units.

Taxes on Shareholders in funds:

Holders of mutual funds are subject to Income Tax on dividend income received from a mutual fund (excluding the amount of dividend paid out of capital gains on listed securities) as under:

Public Company and Insurance Company 5% If received by any other person, including a non-resident 10%

Capital gain on disposition of units in a mutual fund is exempted from tax till such time that capital gain on sale of securities listed on the stock exchanges is exempt from such tax.

Tax Credit

As funds are listed at the stock exchanges, unit holders of the mutual funds, other than a company, are entitled to a tax credit under section 62 of the Income Tax Ordinance, 2001 on purchase of new units. The amount on which tax credit is allowed is the lower of (a) amount invested in purchase of new units, (b) ten percent of the taxable income of the unit holder, or (c ) Rupees Three Hundred Thousand (PKR. 300,000), and is calculated by applying the average rate of tax of the unit holder for the tax year. If the units are disposed within twelve months, the amount of tax payable for the tax year in which the units are disposed is increased by the amount of credit allowed.

 

Links for further information:

Karachi Stock Exchange

Lahore Stock Exchange

Securities and Exchange Commission of Pakistan

Central Depository Company Pakistan

Mutual Funds Association of Pakistan

Mutual Fund BasicsA Mutual Fund is a pool of money that gives investors access to a well-diversified portfolio of stocks, bonds, and other securities. Each shareholder participates in the gain or loss of the fund. Shares are issued and can be redeemed as needed (in the case of an open-ended fund). The fund's net asset value (NAV) is determined each day and is posted on the respective Asset Management Company’s website on a daily basis.

Equity Funds

An equity fund is one that is invested mainly in a company’s equity through the stock exchange and is exposed to the risk of volatility associated with the equity market. Although this fund is the riskiest within the genre of mutual funds, it is also known to provide the maximum yields and dividends.

Fixed Income Funds

A Fixed Income Fund is one that offers fixed returns over a set tenor. These funds are inherently linked to the general interest rate and are, unlike the stock market, safe from drastic fluctuation. The capital value is more easily sustainable while the returns are generally modest. However, active fund management can yield returns which are higher than most fixed income avenues in the market and therefore, it is an attractive investment avenue for investors with moderate risk appetites.

Money Market Funds

A Money Market Fund is one that invests in liquid, short-term securities which offer fixed returns over short periods. These funds are inherently linked to the general interest rate and are, therefore, unlike the stock market, safe from drastic fluctuation. Underlying investment may include securities issued by corporate bodies, spread transactions, reverse-repo transactions, selective exposure in the CFS market, Term Finance Certificates (TFCs) and commercial paper.

Balanced Funds

These funds maintain a mix within equity and fixed income markets. This fund offers room to its fund managers to switch between different investment types i.e. fixed income and capital markets. Effectively, the risk associated to this category lies between equity funds and fixed income funds and the returns also vary correspondingly between the ranges of the two.

Why Invest in Mutual Funds Mutual funds make investing simple, accessible and affordable for everyone, regardless of how much you have to invest or what your investment goals are. The advantages of mutual funds include liquidity, tax benefits, professional management, diversification, accessibility, security, as well as strict government regulation and full disclosure.

LiquidityMutual Funds provide the opportunity for long term growth without the requirement of any long term commitment, as mutual funds provide the option to redeem your investment on a daily basis.

Tax BenefitsMutual funds in Pakistan are exempted from tax as Mutual Funds have to distribute 90% of their income to Unit Holders. Additionally, bonus units may be redeemed without any tax liability.

Professional ManagementDedicated research team, specialized portfolio management, and risk management oversight and controls.

Diversification regardless of small Investment Amount

Mutual Funds provide the opportunity to establish a well diversified portfolio without the large investment typically required to achieve this diversification.

Active Management Investments with mutual funds attempt to weather all storms as AMC's, who specialize in managing your investments, take

advantage of ups & downs in the market.

Accessibility

A Mutual Fund allows you to invest without requiring a large investment - in fact at JSIL you can invest for as little as PKR 100. This means that small amounts may be invested over a period of time.

SecurityNet Assets of a Mutual Fund are completely under the custody the Trustee which ensures that the fund is operating within the investment policy as detailed in the Trust Deed.

Regulated by SECPMutual Funds are fully regulated by the Securities and Exchange Commission of Pakistan, ensuring investor's rights to be afforded protection.

Mutual Fund Structures There are two generic types of funds available in the market (1) Closed end & (2) Open end

Close end FundsClosed-end mutual funds are more like the stock of a listed company, a fixed number of whose shares are traded on an exchange. The shares of closed-end mutual funds are priced at market value determined by supply and demand and are not priced at the fund’s net assets per share value and thus may trade below or above the net asset value; if the shares of a closed-end fund trade above the net asset value the fund is said to be trading at a "premium" and if it is trading below the fund is said to be trading at a "discount". A feature of closed-end funds is that they can be converted into open-end funds.

Units trade on a stock exchange which is the only exit route Trade at last price determined by the market which may be greater than, equal to or less

than the NAV Do not continually offer units for sale No sales load (front end or back end), only management fee Some funds follow the practice of sharing excess profits above benchmark to align fund

manager goals with that of the investor

Open end FundsOpen-end mutual fund are also called unit trusts, because they are registered as trusts. An open-end fund unit holder can redeem or purchase units at any time. Units are priced at their Net Asset Value (NAV) on per unit basis and its unit price is determined by the net increase and/or decrease in the share prices of the stocks that the fund owns along with any dividends and capital gains received. The units of an open-end mutual fund can be bought directly or through the AMC.

Registered as trusts Bought through the Management Company at offer price, which is NAV plus front end

load, if any Redeemed through the Management Company at redemption price which is NAV less the

back end load, if any

In addition to sales load, if any, flat management fee is charged Some funds follow the practice of sharing excess profits above benchmark to align fund

manager goals with that of the investor

Mutual Fund Category JSIL Product Suite Offering (Open-End and Closed-End)

Fixed Income Fund JS Income Fund JS Aggressive Income Fund

Balanced Fund Unit Trust of Pakistan

Equity Fund

JS Large Cap. Fund JS Growth Fund JS Value Fund Limited

Asset Allocation Fund JS Aggressive Asset Allocation Fund

Index Fund JS KSE 30 Index Fund

Islamic Fund JS Islamic Fund

Fund of Funds JS Fund of Funds

Pension Funds JS Pension Savings Fund JS Islamic Pension Savings Fund

National Investment Trust Limited Gujranwala Contact Number & Address

Branch Name ::GujranwalaBranch Code :: -Address ::42-A/B, Trust Plaza, Ground Floor, G.T Road, Gujranwala.Telephone No. ::055-9200220Fax No. :: 055-9200421

Branch Office Address: G.T Road, Gujranwala Landmarks: GT Road City: Gujranwala PABX +92-55-9200805, 9200856, 9200861, 9200862