FAAF is an open-ended asset allocation scheme managed by Faysal Asset Management Limited. FAAF endeavors to provide investors with an opportunity to earn long-term capital appreciation optimizing through broad mix of asset classes encompassing equity, fixed income & money market instruments.
| Brief Terms of FAAF are presented below |
| |
| Fund Type |
Open Ended Scheme |
| Fund |
Asset Allocation Fund |
| Tenor: |
Perpetual |
| Managed By |
Faysal Asset Management Limited (FAML) |
| Inception Date |
July 24, 2006 |
| Acquisition Date |
February 25, 2010 |
| Trustee |
Central Depository Company of Pakistan (CDC) |
| Listing |
Karachi Stock Exchange |
| Governing Body |
Securities & Exchange Commission of Pakistan |
| FAAF
Performance |
| Year |
Dividend Payout |
Fund's Annual Yield |
Benchmark's Annual Yield |
| FY 2006-07 |
19.26% |
23.52% |
37.87% |
| FY 2007-08 |
Nil |
-10.48% |
-10.77% |
| FY 2008-09 |
Nil |
-38.30% |
-41.72% |
| FY 2009-10
YTD* |
Nil |
38.39% |
**25.71% |
*as on March31, 2010
**Benchmark has changed after transfer of management rights to FAML from previous of KSE 100 Index to (50% KSE/50% 6 Month KIBOR)
Investment Philosophy of FAAF
Using a forward looking approach, FAML shall diligently scrutinize each asset class and proactively identify extraordinary investment opportunities amongst undervalued securities, arbitrage situations, trends in business cycles; and other options that may arise to increase and enrich value for the investor. In order to provide maximum confidence to the investors, the Fund’s portfolio will be engineered to manage risk while maintaining liquidity. The ultimate objective is to improve returns when markets are positive and conserve capital when uncertainty is pre-empted by the Fund Manager.
Key Benefits
- Flexibility in investment exposure to manage market risk
- Individual investors can enjoy *tax credit on investments held
for a period of 1 year
- Exemption from Zakat on submission of Affidavit
- Investments can be made from just Rs.5000/-
- No minimum holding period for investors
- Encashment can be made within 6 days
*under clause 99 of Part 1 of the 2nd Schedule of the Income Tax Ordinance 2001, tax credit of 75,000/- may be received subject to annual income exceeding 1.3 million for non salaried class and maximum tax credit of salaried class is 60,000/- subject to annual income exceeding Rs. 8.6 million.
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