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Management Company &
Funds Information(i)
CONDENSED INTERIM FINANCIAL STATEMENTS
Askari Sovereign Cash Fund (ASCF)
Directors Report ......................... 01
Financial Statements................. 05
Askari High Yield Scheme (AHYS)
Directors Report ......................... 16
Financial Statements................... 20
Askari Islamic Income Fund (AIIF)
Directors Report ......................... 50
Financial Statements................... 53
Askari Sovereign Yield Enhancer (ASYE)
Directors Report ......................... 34Financial Statements................... 38
Askari Asset Allocation Fund (AAAF)
Directors Report ......................... 64
Financial Statements....................68
Askari Islamic Asset Allocation Fund (AIAAF)
Directors Report ......................... 80
Financial Statements....................84
Askari Equity Fund (AEF)
Directors Report ......................... 95
Financial Statements................... 98
Contents
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Directors Report 01
Sovereign Cash Fund
Category: Money Market Scheme
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Sovereign Cash Fund
QUARTERLY REPORT SEPTEMBER 2012 03
ASCF Performance Review
ASCF generated a return of 11.61% for the quarter ending September 2012 which is 46 basis points higher than the average
returns generated by the money market fund category and 171 basis points higher than its benchmark hence maintaining
the pole position amongst its category.
During the quarter, the funds size decreased by 46% to 5.37 billion, with an average fund size of PKR 7.65billion for the
quarter ended September 2012. Major asset class of the Fund remained Treasury Bills, where the Fund was invested on
average 73% of Fund size. The market witnessed a cut in the policy rate during the quarter by 150bps as 3month & 6month
PKRV rates closed at 10.14% & 10.01 end September compared to 11.92% & 11.95 respectively at June end. The fund
manager captured maximum advantage of this decreasing interest rate scenario by maximizing the duration (i.e. 90days)
at the right time reflected through the funds return and outperformance. However, average duration for the quarter was
maintained at 50days. During the quarter, the Fund was invested on average 22% of Fund size in TDRs of AA rated banks,
and availed those opportunities when the rates of return were higher than the yields on treasury securities.
ASCF has the flexibility to shift 30% of its asset to AA (and above) rated banks when they offer better rates and may stay
liquid with AAA quality T-Bills to enjoy safety and highest liquidity profile.
at the end of quarter. Rate on 10-year bond came down by 185bps to 11.4% from 13.3% at the start of the quarter.
Moreover, as of the latest developments, yields across all tenors are still trading below their historical levels. Hence one
can deduce that market is expecting another cut of 50-100bps in the policy rate to be announced in the 1st week of October,
2012.
During the quarter auctions conducted by SBP, participation remained skewed on the short-end of the paper. On a cumulative
basis, the SBP raised almost 1,736bn in the bi-monthly auctions conducted during the quarter.
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Sovereign Cash Fund
QUARTERLY REPORT SEPTEMBER 2012 04
Dividend Distribution
The Chief Executive on behalf of the Board of Directors has approved the following interim distributions for the unit holders
of the Fund:
Date of distribution Distribution Rs per unitDistributionpercentage for the
month-Annualized
8.45%0.5804July 25, 2012
August 27, 2012 1.0995 12.90%
10.00%0.8532September 25, 2012
Total distribution 2.5331
Acknowledgements
We thank our valued investors who have placed their confidence in us. The Board is also thankful to the Securities and
Exchange Commission of Pakistan, the State Bank of Pakistan, the Trustee of the Fund and the Islamabad Stock Exchange
for their continued cooperation and support. The Board of Directors also appreciates the efforts put in by the management
team and for their commitment and hard work.
For and on behalf of the Board of Directors of the Management Company
Chief Executive Officer
Karachi: October 23, 2012
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Financial Statements 05
Sovereign Cash Fund
Category: Money Market Scheme
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Sovereign Cash Fund
QUARTERLY REPORT SEPTEMBER 2012 06
ASKARI SOVEREIGN CASH FUND
CONDENSED INTERIM STATEMENT OF ASSETS AND LIABILITIESAS AT SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Assets
Bank Balances
Investments
Term Deposits and Money Market Placements
Receivable Against Sale of Securities
Prepayments and other receivables
Deferred formation cost
Total assets
Liabilities
Payable to Askari Investment Management Ltd - Management Company
Payable to Central Depository Company of Pakistan Ltd - Trustee
Annual fee payable to the Securities and Exchange Commission of PakistanDividend Payable
Payable Against Redemption of Units
Accrued and other Liabilities
Total liabilities
Net assets
Unit holders' fund (as per statement attached)
Contingencies and commitments
Number of units in issue
Net asset value per unit
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.
Note
5 492,193,370 176,432,663
6 3,826,138,184 8,321,569,813
7 1,500,000,000 1,500,000,000
1,500,000 -
3,855,226 2,675,710
804,812 906,516
5,824,491,593 10,001,584,702
6,111,923 10,079,421
498,917 739,381
1,446,096 8,595,7521,278,235 -
399,210,865 2,319,577
43,416,649 39,268,792
451,962,684 61,002,923
5,372,528,909 9,940,581,779
5,372,528,909 9,940,581,779
9
-----------(Number of Units)--------------
53,461,830 98,305,942
100.4928 101.1188
------------ Rupees ------------
Un-audited
September
30, 2012
Audited
June
30, 2012
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Sovereign Cash Fund
QUARTERLY REPORT SEPTEMBER 2012 07
ASKARI SOVEREIGN CASH FUND
CONDENSED INTERIM INCOME STATEMENT (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Income
Income from Government Securities
Profit on Bank Balances and Term Deposits
Income on Reverse Repurchase Transactions
Net Realized Gain on sale of investments
Net unrealised Gain on revaluation of investments classified as 'at fair
value through profit or loss'
Total Income
Expenses
Remuneration of the Management Company
Sindh Sales Tax on Services
Remuneration of the Trustee
Annual fee - Securities and Exchange Commission of Pakistan
Amortisation of formation cost
Listing fee
Legal fee
Securities Transaction Cost
Auditors' remuneration
Printing expensesBank charges
Provision for contribution to Workers' Welfare Fund
Total Expenses
Net Income from Operating Activities
Element of (loss) / income and capital (loss) / gain included
in prices of units issued less those in units redeemed - net
Net Income for the quarter before taxation
Taxation
Net income for the quarter after taxation
Earnings per unit
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.
167,719,605 187,219,390
47,515,417 42,987,767
4,272,169 7,742,893
20,492,296 2,409,806
2,068,875 1,169,687
22,561,171 3,579,493
242,068,362 241,529,543
19,297,739 17,943,297
3,087,638 2,868,216
1,752,716 1,658,217
1,446,097 1,345,747
101,703 101,703
6,341 2,521
12,568 8,798
716,366 319,075
100,547 84,208
62,038 62,038234,608 222,660
------------ Rupees ------------
September
30, 2012
September
30, 2011
, ,
3,662,143 -
30,556,514 24,660,456
211,511,848 216,869,087
(32,066,813) (9,909,631)
179,445,035 206,959,456
- -
179,445,035 206,959,456
8
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Sovereign Cash Fund
QUARTERLY REPORT SEPTEMBER 2012 08
ASKARI SOVEREIGN CASH FUND
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Net income for the quarter after taxation
Other comprehensive income
Total comprehensive income for the quarter
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.
179,445,035 206,959,456
-
179,445,035 206,959,456
------------ Rupees ------------
September30, 2012
September30, 2011
-
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Sovereign Cash Fund
QUARTERLY REPORT SEPTEMBER 2012 09
ASKARI SOVEREIGN CASH FUND
CONDENSED INTERIM DISTRIBUTION STATEMENT (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Realised Income
Unrealised Loss
Net income for the quarter
Final Distribution of Rs 0.8827 per unit on July 6, 2012
For the period ended June 30, 2012 (2011 : 0.3522 per unit on July 6, 2011)
Cash DistributionBonus Units
First Interim Distribution of Rs 0.5804 per unit on July 25, 2012
For the quarter ended September 30, 2012 (2011: 2.7726 per unit on Sep 26, 2011)
Cash Distribution
Bonus Units
Second Interim Distribution of Rs 1.0995 per unit on August 27, 2012
For the quarter ended September 30, 2012
Cash Distribution
Bonus Units
Third Interim Distribution of Rs 0.8532 per unit on September 25, 2012For the quarter ended September 30, 2012
Cash Distribution
Bonus Units
Realised income
Unrealised income
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.
111,628,656 43,873,448
(1,640,815) (83,412)
109,987,841 43,790,036
179,445,035 206,959,456
-
(14,020,722) (4,910,160)(72,753,933) (17,440,843)
(86,774,655) (22,351,003)
(2,277,109) (51,390,965)
(45,597,786) (139,227,133)
(47,874,895) (190,618,098)
(1,652,417) -
(75,380,686) -
(77,033,103) -
(1,280,859) -
(50,127,044) -
(51,407,903) -
26,342,320 37,780,391
24,273,445 36,610,704
2,068,875 1,169,68726,342,320 37,780,391
------------ Rupees ------------
September 30,
2012
September 30,
2011
Undistributed income comprising :
Undistributed income carried forward
Undistributed income brought forward:
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Sovereign Cash Fund
QUARTERLY REPORT SEPTEMBER 2012 10
ASKARI SOVEREIGN CASH FUND
CONDENSED INTERIM STATEMENT OF MOVEMENT IN UNIT HOLDERS' FUND (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
September
30, 2012
September
30, 2011
-----------------------(Rupees)-----------------------
Net assets at the beginning of the quarter 9,940,581,779 6,389,900,643
Issue of 9,900,568 (2011: 30,753,342) uni ts
Redemption of 57,174,665 (2011: 39,037,540) units
997,666,256 3,125,584,093
(5,757,999,867) (3,964,697,708)
(4,760,333,611) (839,113,615)
Issuance of 2,430,002 bonus Units (2011: 1,558,832) units 243,859,449 156,667,976
(4,516,474,162) (682,445,639)
Element of (income) / loss and capital (gain) / loss included in prices of
units issued less those in units redeemed - net 32,066,813 9,909,631
Net Realized Gain on sale of Investments
Net Unrealized Gain on revaluation of investments classified as "at fair value
through profit or loss' - note 6.1
Other Comprehensive income
Other Net income for the period
Total comprehensive income for the period
20,492,296 2,409,806
2,068,875 1,169,687
- -
156,883,864 203,379,963
179,445,035 206,959,456
Final Distribution of Rs 0.8827 per unit on July 6, 2012
For the period ended June 30, 2012 (2011 : 0.3522 per unit on July 6, 2011)
Cash Distribution
Bonus Units
(14,020,722) (4,910,160)
(72,753,933) (17,440,843)
(86,774,655) (22,351,003)
First Interim Distribution of Rs 0.5804 per unit on July 25, 2012
For the quarter ended September 30, 2012 (2011: 2.7726 per unit on Sep 26, 2011)
Cash Distribution
Bonus Units
(2,277,109) (51,390,965)
(45,597,786) (139,227,133)
(47,874,895) (190,618,098)
Second Interim Distribution of Rs 1.0995 per unit on August 27, 2012
For the quarter ended September 30, 2012
Cash Distribution
Bonus Units
(1,652,417) -
(75,380,686) -
(77,033,103) -
Third Interim Distribution of Rs 0.8532 per unit on September 25, 2012
For the quarter ended September 30, 2012
Cash Distribution
Bonus Units
(1,280,859) -
(50,127,044) -(51,407,903) -
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.
Net assets at the end of the period 5,372,528,909 5,711,354,990
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Sovereign Cash Fund
QUARTERLY REPORT SEPTEMBER 2012 11
ASKARI SOVEREIGN CASH FUND
CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
CASH FLOWS FROM OPERATING ACTIVITIES
Net income for the period
Adjustments for:
Net Unrealized gain on revaluation of investments classified as 'at fair value
through profit or loss'
Amortisation of formation cost
Element of (income) / loss and capital (gain) / loss included
in prices of units issued less those in units redeemed-net
Decrease / (Increase) assets:Investments - net
Receivable Against Sale of Securities
Prepayments and Other Receivable
(Decrease) / Increase in liabilities:
Payable to the Management Company
Remuneration payable to the Trustee
Annual fee payable to the Securities and Exchange Commission of Pakistan
Accrued and other liabilities
Net cash inflow from operating activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of units
Payments against redemption of units
Dividend paid
Net cash outflow from financing activities
Net increase in cash and cash equivalents during the quarter
Cash and cash equivalent at the beginning of the quarter
Cash and cash equivalent at the end of the quarter
The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.
179,445,035 206,959,456
(2,068,875) (1,169,687)
101,703 101,703
32,066,813 9,909,631
30,099,641 8,841,647
209,544,676 215,801,103
4,497,500,504 735,181,647
(1,500,000) (47,166,147)
(1,179,516) (11,285,084)
4,494,820,988 676,730,416
(3,967,498) 1,311,196
(240,464) 27,500
(7,149,656) (1,061,197)
4,147,857 974,833
(7,209,762) 1,252,332
4,697,155,902 893,783,851
997,666,256 3,125,584,093
(5,361,108,579) (3,971,156,846)
(17,952,872) (46,046,933)
(4,381,395,195) (891,619,686)
315,760,707 2,164,165
176,432,663 95,672,470
492,193,370 97,836,635
September 30, September 30,
2011
------------ Rupees ------------
2012
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Sovereign Cash Fund
QUARTERLY REPORT SEPTEMBER 2012
52,231,524 151,521,031
197,753 340,551
Bank balances
Profit receivable on bank deposits
15
Un-audited Un-Audi ted
September 30, September 30,
2012 2011
------------ Rupees ------------
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Askari Investment Management Limited Employees Provident Fund(Group Company)
- 9,294,954- 256,368
Issue of Nil units (2011: 92,335 units)Issue of Nil bonus units (2011: 2547 Units)
Un-audited Audited
September 30, June 30,
2012 2012
------------ Rupees ------------
Balance as at Period end :
5,268,899 8,689,155
843,024 1,390,265
95,066 92,501
Askari Investment Management Limited (Management Company)
Remuneration payable
Sindh sales tax payable on remuneration
Outstanding 946 units (June 30, 2012: 915 units)
498,917 739,381
Central Depository Company of Pakistan Limited (Trustee)
Remuneration payable
Askari Bank Limited (Holding company of the Management Company)
37,606,516 36,580,018
Askari General Insurance Company Limited (Group Company)
Outstanding units 374,221 (June 30, 2012: 361,753) units
31,853,906 30,984,439
Askari Bank Limited Employees Provident Fund
Outstanding units 316,977 (June 30, 2012: 306,416) units
11 GENERAL
Figures have been rounded off to the nearest rupee.
12 DATE OF AUTHORISATION FOR ISSUE
These condensed interim financial statements were authorised for issue by the Board of the Directors of theManagement Company on October 23, 2012.
Askari Bank Limited Employees Provident Fund
1,059,885 -Issue of Bonus units 10,561 (2011: Nil units)
160,000 -
753,809 -
9,649 -
Key Management Personnel
Issue of 1,592 units (2011: Nil units)
Redemption of 7,498 units(2011:Nil units)
Issue of Bonus units 96 (2011: Nil units)
86,323
Key Management Personnel
Outstanding units 859 (June 30, 2012: 7,238) units 731,862
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Directors Report 16
High Yield Scheme
Category: Aggressive Income Scheme
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QUARTERLY REPORT SEPTEMBER 2012
High Yield Scheme
19
Acknowledgements
We thank our valued investors who have placed their confidence in us. The Board is also thankful to the Securities and
Exchange Commission of Pakistan, the State Bank of Pakistan, the Trustee of the Fund and the Lahore Stock Exchange
for their continued cooperation and support. The Board of Directors also appreciates the efforts put in by the management
team and for their commitment and hard work.
For and on behalf of the Board of Directors of the Management Company
Chief Executive Officer
Karachi: October 23, 2012
Financial Statements 20
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Financial Statements 20
High Yield Scheme
Category: Aggressive Income Scheme
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High Yield Scheme
ASKARI HIGH YIELD SCHEMECONDENSED INTERIM STATEMENT OF ASSETS AND LIABILITIES
AS AT SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
ASSETS
Bank balances
Term deposit and money market placements
Investments
Accrued profit and other receivables
Security deposits
Assets acquired in set tlement of investments
Net investment in finance lease
Properties - held for sale
Total assets
LIABILITIES
Payable to the Management Company
Payable to the Trustee
Payable to Securities and Exchange Commission of Pakistan
Payable against redemption of units
Accrued and other liab ilities
Total liabilities
NET ASSETS
UNIT HOLDERS' FUND (as per statement attached)
CONTINGENCIES AND COMMITMENTS
NUMBER OF UNITS IN ISSUE
NET ASSET VALUE PER UNIT
The annexed notes 1 to 13 form an integral part of these condensed interim financial statements.
Unaudited Audited
NoteSeptember 30,
2012
June 30,
2012
4 31,535,879 117,466,593
5 23,899,999 42,639,079
6 976,455,465 904,459,981
31,285,705 36,750,495
3,600,000 3,600,000
7 62,962,307 68,717,739
7 73,443,673 73,593,673
1,203,183,028 1,247,227,560
1,717,377 1,769,234
153,757 156,004
273,640 1,276,801
259,779 10,973
11,592,647 12,171,405
13,997,200 15,384,417
1,189,185,828 1,231,843,143
1,189,185,828 1,231,843,143
9
---------------------Rupees-------------------
12,287,975 12,511,355
96.7764 98.4580
----------------Number of units-----------
---------------------Rupees-------------------
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High Yield Scheme
ASKARI HIGH YIELD SCHEMECONDENSED INTERIM INCOME STATEMENT (UNAUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
INCOME
Note 2012 2011
(Rupees)
Quarter ended
September 30
Return on bank balances and placements
Income on government securities
Income from reverse repurchase transaction
Mark-up on term finance and sukuk certificates
Net realised gain on sale of investments
Mark-up on finance lease
Rental income
Other income
4 2,058,063 7,261,948
11,451,932 16,833,844
149,148 1,541,917
30,251,283 (2,299,040)
5,144,630 4,214,349
2,179,485 3,382,863
688,282
998,104 955,126
52,920,927 31,891,007
Net unrealised appreciation in value of investments
classified as 'at fair value through profit or loss' - net 4,816,544 11,866,285
(Provision) / reversal of provision against non-performingplacements - net
(Provision) / reversal of provision against assets acquired in
settlement of investments - net
Provision against non-performing investments
(18,739,080) 18,966,666
(150,000) 39,200,302
(32,721,568) (78,764,755)
(51,610,648) (20,597,787)
Total income 6,126,823 23,159,505
Remuneration of the Management Company
Sindh sales tax on remuneration of the Management
Company
Remuneration of the Trustee
Annual fee of Securities and Exchange Commission
of Pakistan
Security transaction costs
Listing fee
Rating fee
Custodian fee
Bank and settlement charges
Legal and professional charges
Auditors remuneration
Printing and stationery
Property Expenses
Total expenses
5,405,726 7,037,864
10 864,821 1,125,044
520,662 612,463
273,639 351,893
175,843 239,989
10,081 10,082
25,205 -
1,500 5,000
129,430 72,977
12,603 8,820
201,644 199,627
42,597 42,450
217,403 163,332
7,881,154 9,869,541
EXPENSES
Net (loss) / income from operating activities (1,754,331) 13,289,964
Element of (loss) / income and capital (losses) / gains included
in prices of units issued less those in units redeemed - net (6,714,244) (2,408,317)
Net (loss) / income for the period (8,468,575) 10,881,647
Earnings per unit
The annexed notes 1 to 13 form an integral part ofthese condensed interim financial statements.
3.2
-
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High Yield Scheme
ASKARI HIGH YIELD SCHEMECONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Net (loss) / income for the period
Other comprehensive income
Total comprehensive (loss) / income for the period
The annexed notes 1 to 13 form an integral part ofthese condensed interim financial statements.
2012 2011
(8,468,575) 10,881,647
- -
(8,468,575) 10,881,647
Quarter ended
September 30
(Rupees)
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High Yield Scheme
ASKARI HIGH YIELD SCHEMECONDENSED INTERIM DISTRIBUTION STATEMENT (UNAUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Accumulated (loss) / undistributed income brought forward:
- Realised (loss) / income
- Unrealised income / (loss)
Net (loss) / income for the period
Final distribution of Rs 0.9492 unit on July 6, 2012 for the year
ended June 30, 2012: (2011: Rs 1.8786 per unit)
- Cash dividend
- Bonus
Accumulated (loss) carried forward:
Accumulated (loss) carried forward:
- Realised (loss)
- Unrealised income
The annexed notes 1 to 13 form an integral part ofthese condensed interim financial statements.
2012 2011
(28,298,890) 5,477,502
9,034,897 (4,991,582)
(19,263,993) 485,920
(8,468,575) 10,881,647
(11,070,446) (19,084,554)
(805,332) (13,434,567)
(11,875,778) (32,519,121)
(39,608,346) (21,151,554)
(44,424,890) (33,017,839)
4,816,544 11,866,285
(39,608,346) (21,151,554)
September 30
Quarter ended
(Rupees)
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High Yield Scheme
ASKARI HIGH YIELD SCHEMECONDENSED INTERIM STATEMENT OF MOVEMENT IN UNIT HOLDERS' FUND (UNAUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Net assets at the beginning of the period
Issue of 4,268,489 units (2011: 4,257,801 units)
Redemption of 4,500,129 units (2011: 2,965,945 units)
Element of loss / (income) and capital losses / (gains) included
in prices of units issued less those in units redeemed - net
Net (loss) / income for the period
Other comprehensive income
Total comprehensive (loss) / income for the period
Final distribution of Rs 0.9492 unit on July 6, 2012 for the year
ended June 30, 2012: (2011: Rs 1.8786 per unit)
- Cash dividend
- Bonus
Net assets at the end of the period
The annexed notes 1 to 13 form an integral part ofthese condensed interim financial statements.
Issue of 8,259 bonus units (2011: 136,879 bonus units)
2012 2011
1,231,843,143 1,731,515,674
412,219,449 423,740,544
(442,051,987) (296,710,013)
(29,832,538) 127,030,531
805,332 13,434,567
(29,027,206) 140,465,098
6,714,244 2,408,317
(8,468,575) 10,881,647
- -
(8,468,575) 10,881,647
(11,070,446) (19,084,554)
(805,332) (13,434,567)
(11,875,778) (32,519,121)
1,189,185,828 1,852,751,615
Quarter ended
September 30
(Rupees)
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High Yield Scheme
ASKARI HIGH YIELD SCHEMECONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
CASH FLOW FROM OPERATING ACTIVITIES
2012 2011
(Rupees)
Quarter ended
September 30
Decrease / (increase) in assets
Term deposit and money market placements
Investments - net
Assets acquired in settlement of investments
Accrued profit and other receivables
(Decrease) / increase in liabilities
Remuneration payable to the Management Company
Remuneration payable to the Trustee
Payable to Securities and Exchange Commission of PakistanPayable against purchase of investment
Payable against redemption of units
Accrued and other liabilities
Net cash outflow from operating activities
CASH FLOW FROM FINANCING ACTIVITIES
The annexed notes 1 to 13 form an integral part ofthese condensed interim financial statements.
- (223,214,753)
(94,755,878) 70,960,030
5,755,432 3,261,723
5,464,790 7,339,570
(83,535,656) (141,653,430)
(51,857) 878,984
(2,247) 28,420
(1,003,161) (651,026)- 17,991,171
248,806 55,894
(578,758) 203,392
(1,387,217) 18,506,835
(45,027,730) (105,339,478)
412,219,449 423,740,544
(442,051,987) (296,710,013)
(11,070,446) (19,084,554)
(40,902,984) 107,945,977
(85,930,714) 2,606,499117,466,593 76,576,482
31,535,879 79,182,981
Receipts in respect of issuance of units
Payments against redemption of units
Dividend paid
Net cash (outflow) / inflow from financing activities
Net (decrease) / increase in cash and cash equivalentsCash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
Net (loss) / income for the period (8,468,575) 10,881,647
Adjustments:
Capital gain on sale of investments
Net unrealised appreciation in value of investments
classified as 'at fair value through profit or loss' - net
Provision / (reversal) of provision against non-performing
placements - net
Provision against non-performing investments
Provision / (reversal) of provision against assets acquired
in settlementElement of loss / (income) and capital losses / (gains) included
in prices of units issued less those in units redeemed - net
(5,144,630) (4,214,349)
(4,816,544) (11,866,285)
18,739,080 (18,966,666)
32,721,568 78,764,755
150,000 (39,200,302)
6,714,244 2,408,317
48,363,718 6,925,470
Note:
4
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High Yield Scheme
4.1 These carry profit rates ranging from 5.00% to 12.00% (June 30, 2012: 6.00% to 12.25%) per annum.
TERM DEPOSIT AND MONEY MARKET PLACEMENTS5.
5.1.1 The facilities have been classified as non-performing in accordance with the Fund's provisioning policy. Accordingly,
the carrying value stated above has been arrived at after taking into account provision as under:
Note
(Un-audited) (Audited)
September 30, June 30,
2012 2012
5.1 23,899,999 42,639,079
23,899,999 42,639,079
Placements with banks and financial institutions
3.1 Net Asset Value per unit
The net asset value (NAV) per unit, as disclosed on the condensed interim statement of assets and liabilities, is
calculated by dividing the net assets of the Fund by the number of units in issue at the period end.
3.2 Earning / ( loss) per unit
Earnings / (loss) per unit has not been disclosed as in the opinion of the management, determination of cumulativeweighted average number of outstanding units for calculating earnings per unit is not practicable.
(Unaudited) (Audited)
Note September
30, 2012
June 30,
2012
4.1 31,535,879 117,466,593
------------ Rupees ------------BANKS BALANCES4.
Savings accounts
6.
6.1 228,954,215 103,411,460
6.2 395,975,696 382,520,590
6.2 190,557,110 184,273,099
6.3 160,968,444 234,254,832
351,525,852 418,527,931
976,455,465 904,459,981
INVESTMENTS
At fair value through profit or loss (held-for-trading)
Government securities
Listed
Term finance certificates
Unlisted
Term finance certificates
Sukuk certificates
105,211,799 86,472,719
15,000,000 15,000,000
120,211,799 101,472,719
------------ Rupees ------------
Trust Investment Bank Limited
Saudi Pak Leasing Company Limited
Total Provision
(Un-audited) (Audited)
September 30, June 30,
2012 2012
5.1.1 129,111,798 129,111,798
5.1.1 15,000,000 15,000,000
(120,211,799) (101,472,719)
23,899,999 42,639,079
------------ Rupees ------------
Placements with banks and financial institutions:
Trust Investment Bank Limited
Saudi Pak Leasing Company Limited:
Less: Provisions
5.1
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High Yield Scheme
11.2 Amounts outstanding at the period end / year end:
(Unaudited) (Audited)
September 30, June 30,
2012 2012
------------ Rupees ------------
President Askari Bank Limited Fund
Outstanding units: 84,830 units (June 30, 2012: 84,012 units) 8,209,542 8,271,653
Askari Bank Employees' Provident Fund
Outstanding units: 310,134 units (June 30, 2012: 307,145 units) 30,013,652 30,240,882
Askari General Insurance Company Limited (Group Company)Outstanding units: 52,391 units (June 30,2012: 51,885 units) 5,070,212 5,108,493
Central Depository Company of Pakistan Limited (Trustee)
Trustee remuneration payable
Security deposit
153,757 156,004
100,000 100,000
Management remuneration payable
Sindh sales tax payable
Other payable
Sales load payable
Outstanding units: 86,364 units (June 30, 2012: 161,004 units)
1,480,497 1,525,120
236,880 244,114
1,259,274 1,259,274
56,016 55,891
8,357,997 15,852,132
Askari Investment Management Limited (Management Company)
Askari Bank Limited (Holding company of the Management Company)
Balance with bank
Accrued profit receivable
Outstanding units:11,642,356 units (June 30, 2012: 11,642,356 units)Investment - term finance certificates
Profit receivable on term finance certificates
2,592,233 16,506,393
53,982 6,957
1,126,705,301 1,146,283,087- 52,484,063
- 842,043
12 GENERAL
12.1 Figures have been rounded off to the nearest rupee unless otherwise stated.
12.2 Corresponding figures have been rearranged and reclassified, where necessary, for the purpose of comparison.
No significant reclassification was done during the period.
13 DATE OF AUTHORISATION FOR ISSUE
This condensed interim financial information was authorised for issue by the Board of the Directors of the Management
Company on October 23, 2012.
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
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Category: Income Scheme
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ASYE Performance Review
ASYE generated a return of 15.54% for the quarter ending September 2012 outperforming its benchmark by 559 bas is
points.
Strong performance of the fund led to an increase in the fund size by a huge 97% closing at PKR 1.59billion against PKR
809million at the start of the quarter. The fund maintained an average allocation against Treasury Bills at 61% of the total
assets while 17% allocation was maintained against GoP Ijara Sukuk and 3% of the total assets were invested in PIBs on
quarterly average basis. Allocation in banking sector Term Finance Certificates (TFCs) was on an average 15% of the totalassets for the purpose of yield enhancement. Capital gains were realized during the quarter as a result of trading in different
banking sector TFCs as reflected in the fund's return for the quarter. The exposure in this asset class mainly consists of
fixed coupon TFCs which are expected to perform relatively better in declining interest rate scenario. The market witnessed
a cut in the policy rate during the quarter by 150bps as 3month & 6month PKRV rates closed at 10.14% & 10.01 end
September compared to 11.92% & 11.95 respectively at June end. The fund manager captured the maximum advantage
of this decreasing interest rate scenario by trading in instruments like GoP Ijara Sukuks, PIBs, T-Bills and Banking Sector
TFCs reflected through the increase in the NAV of the fund.
ASYE has the flexibility to shift 30% of its asset to AA (and above) rated banks when they offer better rates and may stay
liquid with AAA quality T-Bills to enjoy safety and highest liquidity profile.
QUARTERLY REPORT SEPTEMBER 2012 37
Dividend Distribution
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Sovereign Yield Enhancer
Dividend Distribution
The Chief Executive on behalf of the Board of Directors has approved the following interim distributions for the unit holders
of the Fund:
Date of distribution Distribution Rs per unitDistribution
percentage for the
month- Annualized
July 25, 2012 0.8077 11.79%
August 27, 2012 1.1063 13.00%
September 25, 2012 0.9370 11.00%
Total distribution 2.8510
Acknowledgements
We thank our valued investors who have placed their confidence in us. The Board is also thankful to the Securities and
Exchange Commission of Pakistan, the State Bank of Pakistan, the Trustee of the Fund and the Islamabad Stock Exchange
for their continued cooperation and support. The Board of Directors also appreciates the efforts put in by the management
team and for their commitment and hard work.
For and on behalf of the Board of Directors of the Management Company
Chief Executive Officer
Karachi: October 23, 2012
Financial Statements 38
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Sovereign Yield Enhancer
Category: Income Scheme
QUARTERLY REPORT SEPTEMBER 2012 39
ASKARI SOVEREIGN YIELD ENHANCER
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Sovereign Yield Enhancer
CONDENSED INTERIM STATEMENT OF ASSETS AND LIABILITIESAS AT SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
ASSETS
Bank balances
Investments
Prepayments and other receivables
Preliminary expenses and floatation costs
Security deposits
Total assets
LIABILITIES
Payable to the Management Company
Payable to the trustee
Payable to Securities and Exchange Commission of PakistanPayable against purchase of investments
Accrued and other liabilities
Total liabilities
NET ASSETS
UNIT HOLDERS' FUND (as per statement attached)
Contingencies and commitments
Number of units in issue
NET ASSET VALUE PER UNIT
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
Unaudited Audited
Note September 30, 2012 June 30, 2012
4 43,101,444 29,148,674
5 1,544,202,485 780,296,260
12,909,715 4,792,074
919,534 969,945
100,000 100,000
1,601,233,178 815,306,953
2,855,399 1,823,486
149,684 92,774
181,574 65,516- -
3,109,127 1,270,846
6,295,784 3,252,622
1,594,937,394 812,054,331
1,594,937,394 812,054,331
7
15,822,267 8,043,093
100.8033 100.9629
------------(Rupees)--------------
------(Rupees)--------
QUARTERLY REPORT SEPTEMBER 2012 40
ASKARI SOVEREIGN YIELD ENHANCER
CONDENSED INTERIM INCOME STATEMENT (UNAUDITED)
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CONDENSED INTERIM INCOME STATEMENT (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
IncomeProfit on balances with banks
Markup on government securities
Markup on term finance certificates and sukuks
Capital gain on sale of investments
Other income
Net unrealised appreciation in the value of investments classified
as 'at fair value through profit or loss'
Expenses
Remuneration of the Management Company
Sindh sales tax on remuneration of the Management CompanyRemuneration of the Trustee
Annual fee of Securities and Exchange Commission of Pakistan
Auditors' remuneration
Legal and professional charges
Securities transaction costs
Settlement and bank charges
Fee and subscription
Printing and stationery expenses
Amortisation of preliminary expenses and floatation costs
Total expenses
Net income from operating activities
Element of income and capital gains included in prices
of units issued less those in units redeemed - net
Provision for the Workers' Welfare Fund
Net income for the period before taxation
Taxation
Net income for the period after taxation
Earning per unit
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
Note September 30, 2012
---(Rupees)---
1,745,990
17,719,026
7,632,145
10,795,908
22,800
37,915,869
3,983,573
41,899,442
2,663,122
426,099336,210
181,575
71,836
12,603
792,195
189,489
52,932
12,603
50,411
4,789,075
37,110,367
5,633,282
(854,875)
41,888,774
8 -
41,888,774
3.2
QUARTERLY REPORT SEPTEMBER 2012 41
ASKARI SOVEREIGN YIELD ENHANCER
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)
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CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited(Management Company)
DirectorChief Executive Officer
Net income for the period after taxation
Other comprehensive income
Total comprehensive income for the period
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
September 30, 2012
---(Rupees)---
41,888,774
-
41,888,774
QUARTERLY REPORT SEPTEMBER 2012 42
ASKARI SOVEREIGN YIELD ENHANCER
CONDENSED INTERIM DISTRIBUTION STATEMENT (UNAUDITED)
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Sovereign Yield Enhancer
CONDENSED INTERIM DISTRIBUTION STATEMENT (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Undistributed income brought forward:
Realised income
Unrealised loss
Net income for the period
Final distribution of Re 0.9437 per unit on July 06, 2012
for the period ended June 30, 2012:
- Cash distribution
- Bonus units
First interim distribution of Re 0.8077 per unit on July 25, 2012for the period ending June 30, 2013:
- Cash distribution
- Bonus units
Second interim distribution of Re 1.1063 per unit on August 25, 2012
for the period ending June 30, 2013:
- Cash distribution
- Bonus units
Third interim distribution of Re 0.937 per unit on September 25, 2012
for the period ending June 30, 2013:
- Cash distribution- Bonus units
Undistributed income carried forward
Undistributed income carried forward:
Realised income
Unrealised gain
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
September 30, 2012
---(Rupees)---
7,916,685
(171,677)
7,745,008
41,888,774
(943,700)
(6,646,567)
(7,590,267)
(807,700)
(4,351,746)
(5,159,446)
(1,106,300)
(8,489,579)
(9,595,879)
(937,000)(13,640,328)
(14,577,328)
12,710,862
8,727,289
3,983,573
12,710,862
QUARTERLY REPORT SEPTEMBER 2012 43
ASKARI SOVEREIGN YIELD ENHANCER
CONDENSED INTERIM STATEMENT OF MOVEMENT IN UNIT HOLDERS' FUND (UNAUDITED)
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Sovereign Yield Enhancer
( )FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Net assets at the beginning of the period
September 30, 2012
---(Rupees)---
812,054,331
Element of income and capital gains included in prices
of units issued less those in units redeemed - net
- transferred to income statement (5,633,282)
Redemption of 4,845,447 units
Issue of 330,120 bonus units
Issue of 12,294,501 units 1,237,637,780
(487,215,510)
33,128,221
783,550,491
41,888,774
Capital gain on sale of investments
Net unrealised income on revaluation of investments
classified as 'at fair value through profit or loss'
Other income for the period
Other comprehensive income
1,745,990
3,983,573
36,159,211
-
Final distribution of Re 0.9437 per unit on July 06, 2012
for the period ended June 30, 2012:
- Cash distribution
- Bonus units
(943,700)
(6,646,567)
(7,590,267)
First interim distribution of Re 0.8077 per unit on July 25, 2012
for the period ending June 30, 2013:
- Cash distribution
- Bonus units
(807,700)
(4,351,746)
(5,159,446)
Second interim distribution of Re 1.1063 per unit on August 25, 2012
for the period ending June 30, 2013:
- Cash distribution
- Bonus units
(1,106,300)
(8,489,579)
(9,595,879)
Third interim distribution of Re 0.937 per unit on September 25, 2012
for the period ending June 30, 2013:
- Cash distribution
- Bonus units
(937,000)
(13,640,328)
(14,577,328)
Net assets at the end of the period
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
1,594,937,394
QUARTERLY REPORT SEPTEMBER 2012 44
ASKARI SOVEREIGN YIELD ENHANCER
CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
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Sovereign Yield Enhancer
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
CASH FLOWS FROM OPERATING ACTIVITIES
Net income for the period
Adjustments for:
Net unrealised appreciation in the value of investments classified
as 'at fair value through profit or loss'
Amortisation of prelim inary expenses and f loatation costs
Element of income and capital gains included in prices
of units issued less those in units redeemed - net
Increase in assetsInvestments - net
Prepayments and other receivables
Increase in liabilities
Payable to the Management Company
Payable to the trustee
Payable to Securities and Exchange Commission of Pakistan
Payable against purchase of investments
Accrued and other l iabilities
Net cash used in operating activities
CASH FLOWS FROM FINANCING ACTIVITIESProceeds from issue of units
Payments on redemption of units
Cash distribution
Net cash generated from financing activities
Net decrease in cash and cash equivalents during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
September 30, 2012
Note - -- (Rupees) -- -
41,888,774
(3,983,573)
50,411
(5,633,282)
(9,566,444)
32,322,330
(759,922,652)
(8,117,640)
(768,040,292)
1,031,913
56,910
116,058
-
1,838,281
3,043,162
(732,674,800)
1,237,637,780
(487,215,510)
(3,794,700)
746,627,570
13,952,770
29,148,674
4 43,101,444
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Unaudited
September 30,
2012
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Sovereign Yield Enhancer
---(Rupees)---
Askari Bank Limited (Holding company of the Management Company)
Profit on balances with bank
Cash Dividend
Bank charges
Investment in Term Finance Certificate (TFC)Askari Bank Limited (23-12-11) 25 certificates
Disposal of Investment in Term Finance
Askari Bank Limited (23-12-11) 21 Certificates
10,000 Certificates Askari Bank Limited (18-11-09)
397,361
3,794,700
25,210
25,482,403
21,405,218
52,822,125
Central Depository Company Limited - Trustee
Remuneration of the Trustee
CDS charges
336,210
1,506
Key Management Personnel
Issue of 4,424 units
Redemption of 1,463 units
Issue of 398 bonus units
445,248
147,274
39,973
Markup income on Term Finance Certificates 1,314,609
9.2 Amounts outstanding as at period end: Unaudited Audited
September 30,
2012 2012---(Rupees)---
June 30,
100,803,300 100,962,900
937,000 570,000
26,617,124 9,854,335
164,902 17,789
- 52,822,125
4,077,184 -
149,489 867,175
Units held in the fund 1,000,000 units
Dividend payable
Balance with bank
Profit receivable
Askari Bank Limited TFC (18-11-09) Nil certificates
Askari Bank Limited TFC (23-12-11) 4 certificates
Markup receivable on TFC
Askari Bank Limited (Holding company of the Management Company)
1,291,278 680,360
206,605 108,858
1,000,000 1,000,000
357,516 34,268
39,469,633 34,360,401
Askari Investment Management Limited - the Management Company
Remuneration payable
Sindh sales tax payable on management company remuneration
Preliminary expenses and floatation costs
Sales load
Units held in the fund 391,551 units (June 2012: 340,327 units)
Central Depository Company Limited - Trustee
149,684 92,774
100,000 100,000
Trustee fee payable
Security deposits
Key Management Personnel
1,281,412 134,123Outstanding 12,712 units (June 30, 2012: 1,328 units)
10 DATE OF AUTHORISATION FOR ISSUE
These financial statements were authorised for issue on October 23, 2012 by the Board of Directors of theManagement Company.
11 GENERAL
Figures have been rounded off to the nearest rupee.
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Directors Report 50
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Category: Islamic Income Scheme
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QUARTERLY REPORT SEPTEMBER 2012 52
AIIF Performance Review
AIIF generated a retu rn of 12.79% for the quarter ended September 2012 maintaining top quartile position amongst its
peers & outperforming its benchmark by 535bps. Continuous outperformance led to an increase of 22% in the Fund size
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Islamic Income Fund
closing at PKR 769million. During this quarter, the fund had an average allocation of 45% in GoP Ijara Sukuk. In this
segment, the fund availed trading opportunities by actively managing this Sukuk portfolio leading to higher capital gains
and enhanced returns. In addition, 11.13% of the net assets were invested in short term corporate Sukuk of Hub Power
Corporation Limited & Engro Fertilizer Limited resulting in enhanced recurring returns along with providing stability to the
overall Fund portfolio as both the instruments are amortized over a period of 6 months. Short term deposits (with AA &
above rated Islamic Bank / Islamic Wings) were on average 44% of Fund size during the Quarter.
The portfolio mix of the fund is positioned to maintain the deliverance of stable returns going forward.
Dividend Distribution
The Chief Executive on behalf of the Board of Directors has approved the following interim distributions for the unit holders
of the Fund:
Date of distribution Distribution Rs per unitDistribution
percentage for the
month- Annualized
July 25, 2012 0.6607 9.63%
August 27 , 2012 0.9366 11.00%
September 25, 2012 0.8960 10.50%
Total distribution 2.4933
Acknowledgements
We thank our valued investors who have placed their confidence in us. The Board is also thankful to the Securities and
Exchange Commission of Pakistan, the State Bank of Pakistan, the Trustee of the Fund and the Islamabad Stock Exchange
for their continued cooperation and support. The Board of Directors also appreciates the efforts put in by the management
team and for their commitment and hard work.
For and on behalf of the Board of Directors of the Management Company
Chief Executive Officer
Karachi: October 23, 2012
Financial Statements 53
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Islamic Income Fund
Category: Islamic Income Scheme
QUARTERLY REPORT SEPTEMBER 2012 54
ASKARI ISLAMIC INCOME FUNDCONDENSED INTERIM STATEMENT OF ASSETS AND LIABILITIES
AS AT SEPTEMBER 30, 2012
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Islamic Income Fund
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Assets
Bank balances
Investments
Deposits, prepayments and other receivables
Unamortised formation costs
Total assets
Liabilities
Payable to Askari Investment Management
Limited- Management Company
Payable to MCB Financial Services Limited - Trustee
Annual fee payable to the Securities and Exchange Commission of Pakistan
Payable against redemption of unitsAccrued expenses and other liabilities
Total liabilities
NET ASSETS
Unit holders fund (as per statement attached)
Contingencies and commitments
Number of units in issue
Net asset value per unit
The annexed notes 1 to 11 form an integral part of these condensed interim financial statements.
Un Audited Audited
NoteSeptember
30, 2012
June 30,
2012
3 201,405,523 192,080,320
4 561,195,850 431,824,000
14,949,203 13,259,344
866,743 976,272
778,417,318 638,139,936
684,576 680,351
113,899 99,759
129,998 447,721
124,752 3,536,8598,182,843 3,706,457
9,236,067 8,471,147
769,181,250 629,668,789
769,181,250 629,668,789
5
7,637,140 6,227,440
100.7159 101.1120
----------------(Rupees)----------------
--------- (Number of units) ---------
----------------(Rupees)----------------
QUARTERLY REPORT SEPTEMBER 2012 55
ASKARI ISLAMIC INCOME FUNDCONDENSED INTERIM INCOME STATEMENT (UNAUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
7/30/2019 Quarterly Reports Sep 2012
58/112
Islamic Income Fund
For Askari Investment Management Limited(Management Company)
DirectorChief Executive Officer
IncomeProfit on balances and placements with banks
Profit on sukuk certificates
Net realised gain on sale of investments
Net unrealised gain on revaluation of investments classified
as 'at fair value through profit or loss'
Total income
Expenses
Remuneration of the Management Company
Sind tax on services
Remuneration of the Trustee
Annual fee to the Securities and Exchange Commission of Pakistan
Amortisation of the deferred formation cost
Auditor's remunerationSecurities Transaction Cost
Legal and professional charges
Fee & Subscription
Bank and settlement charges
Printing charges
Total expenses
Net income from operating activities
Element of income / (loss) and capital gains / (losses) included
in prices of units issued less those in units redeemed - net
Provision for contribution to the Workers' Welfare Fund
Net income for the period
Taxation
Net income for the period after taxation
Earnings per unit
The annexed notes 1 to 11 form an integral part of these condensed interim financial statements.
Note
8,651,109 7,480,872
11,175,564 7,269,033
1,915,808 1,323,793
2,784,042 177,252
24,526,523 16,250,950
1,906,635 944,609
305,062 150,998
323,009 221,188
129,998 88,536
109,530 109,530
106,830 92,882142,000 73,325
12,568 8,822
79,137 79,138
9,184 1,526
29,529 29,529
3,153,482 1,800,082
21,373,040 14,450,868
800,907 677,473
5.1 443,320 -
21,730,628 15,128,341
- -
21,730,628 15,128,341
7
September 30,2012
September 30,2011
------------------Rupees------------------
QUARTERLY REPORT SEPTEMBER 2012 56
ASKARI ISLAMIC INCOME FUNDCONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
7/30/2019 Quarterly Reports Sep 2012
59/112
Islamic Income Fund
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Net income for the period
Other comprehensive income for the period
Net Comprehensive Income for the period
The annexed notes 1 to 11 form an integral part of these condensed interim financial statements.
September 30,2012
September 30,2011
21,730,628 15,128,341
- -
21,730,628 15,128,341
-----------------Rupees-----------------
QUARTERLY REPORT SEPTEMBER 2012 57
ASKARI ISLAMIC INCOME FUNDCONDENSED INTERIM DISTRIBUTION STATEMENT (UNAUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
7/30/2019 Quarterly Reports Sep 2012
60/112
Islamic Income Fund
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Undistributed income brought forwardRealised income
Unrealised (loss) / income
Net Income for the period
Final distribution of Rs 0.9488 per unit on July 6, 2012
(2011: Distribution of Rs. 2.4107 per units)
- Cash dividend
- Bonus units
First interim distribution of Rs 0.6607 per unit on July 25, 2012- Cash dividend
- Bonus units
Second interim distribution of Rs 0.9366 per unit on August 27, 2012
- Cash dividend
- Bonus units
Third interim distribution of Rs 0.8960 per unit on September 25, 2012
- Cash dividend
- Bonus units
Undistributed income carried forward
Undistributed income comprising:
Realised income
Unrealised income
The annexed notes 1 to 11 form an integral part of these condensed interim financial statements.
September 30,2012
September 30,2011
7,159,806 11,481,613
(235,319) 50,205
6,924,487 11,531,818
21,730,628 15,128,341
(3,524,659) (5,729,007)
(2,383,937) (4,907,481)
(5 ,908,595) (10,636 ,488)
(2,454,279) -
(1,626,035) -
(4,080,315) -
(3,712,574) -
(2,694,977) -
(6,407,551) -
(3,551,640) -
(3,240,633) -
(6,792,273) -
5,466,381 16,023,671
2,682,339 15,846,419
2,784,042 177,252
5,466,381 16,023,671
-----------------Rupees------------------
QUARTERLY REPORT SEPTEMBER 2012 58
ASKARI ISLAMIC INCOME FUNDCONDENSED INTERIM STATEMENT OF MOVEMENT IN UNIT HOLDERS' FUND (UNAUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
S t b 30 S t b 30
7/30/2019 Quarterly Reports Sep 2012
61/112
Islamic Income Fund
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Net assets at beginning of the period
Issued 2,092,637 (2011: 1,019,830) units
Redemption of 781,993 (2011: 688,672) units
Issue of 99,055 bonus (2011: 48,975) units
Element of (income) / loss and capital (gains) / losses included in prices
of units issued less those in units redeemed - net
- transferred to income statement
Net realised gain on sale of investments
Net unrealised gain on revaluation of investments
classified as 'at fair value through profit or loss'
Other net income for the period
Other comprehensive income
Net income for the period
Final distribution of Rs 0.9488 per unit on July 6, 2012
(2011: Distribution of Rs. 2.4107 per unit)
- Cash dividend
- Bonus units
First interim distribution of Rs 0.6607 per unit on July 25, 2012
- Cash dividend
- Bonus units
Second interim distribution of Rs 0.9366 per unit on August 27, 2012
- Cash dividend
- Bonus units
Third interim distribution of Rs 0.8960 per unit on September 25, 2012
- Cash dividend
- Bonus units
Net assets as at the end of the period
The annexed notes 1 to 11 form an integral part of these condensed interim financial statements.
September 30,
2012
September 30,
2011
629,668,789 452,751,707
210,534,458 103,765,095
(78,708,566) (69,982,127)
131,825,892 33,782,968
9,945,582 4,907,481
771,440,263 491,442,156
(800,907) (677,473)
1,915,808 1,323,793
2,784,042 177,252
17,030,778 13,627,296
- -
21,730,628 15,128,341
(3,524,659) (5,729,007)
(2,383,937) (4,907,481)
(5,908,595) (10,636,488)
(2,454,279) -
(1,626,035) -
(4,080,315) -
(3,712,574) -
(2,694,977) -
(6,407,551) -
(3,551,640) -
(3,240,633) -
(6,792,273) -
769,181,250 495,256,536
---------------------Rupees---------------------
QUARTERLY REPORT SEPTEMBER 2012 59
ASKARI ISLAMIC INCOME FUNDCONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
September 30 September 30
7/30/2019 Quarterly Reports Sep 2012
62/112
Islamic Income Fund
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
CASH FLOWS FROM OPERATING ACTIVITIES
Net income for the period
Adjustments for:
Net unrealised gain on investments classified as financial assets
'at fair value through profit or loss'
Amortisation of formation costs
Element of (income) / loss and capital (gains) / losses included in prices
of units issued less those in units redeemed - net
(Increase) / decrease in assets:
Investments - net
Deposits, prepayments and other receivables
Increase / (decrease) in liabilities
Payable to Askari Investment Management Limited
- Management Company
Payable to MCB Financial Services Limited - Trustee
Annual fee payable to the Securities and Exchange Commission of Pakistan
Payable against redemption of units
Accrued expenses and other liabilities
Net cash outflow from operating activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of unitsPayment against redemption of units
Dividend paid
Net cash inflow / outflow from financing activities
Net increase / decrease in cash and cash equivalents during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
The annexed notes 1 to 11 form an integral part of these financial statements.
21,730,628 15,128,341
(2,784,042) (177,252)
109,529 109,530
(800,907) (677,473)
(3,475,420) (745,195)
(126,587,807) (180,587,543)
(1,689,859) (4,441,725)
(128,277,665) (185,029,268)
4,225 (26,809)
14,140 8,660
(317,723) (83,616)
(3,412,107) -
4,476,386 56,435,310
764,920 56,333,545
(109,257,537) (114,312,578)
210,534 ,458 103,775,429(78,708,566) (70,868,154)
(13,243,152) (5,729,007)
118,582,740 27,178,268
9,325,203 (87,134,310)
192,080 ,320 287,151,018
8 201,405,523 200,016,708
-----------------Rupees------------------
September 30,2012
September 30,2011
7/30/2019 Quarterly Reports Sep 2012
63/112
7/30/2019 Quarterly Reports Sep 2012
64/112
7/30/2019 Quarterly Reports Sep 2012
65/112
QUARTERLY REPORT SEPTEMBER 2012 63
Balances with connected persons as at period end
Askari Investment Management Limited
Management fee payable
Sindh tax payable
9.6
Rupees
Septmber 30, 2012
Un-Audited
93,008
581,294684,576
109,534
June 30, 2012
Audited
7/30/2019 Quarterly Reports Sep 2012
66/112
Islamic Income Fund
Key Management Personnel
AIM Employees Provident Fund
Sales load payable
Askari Bank Limited
Balances with Bank - Islamic BankingAccrued Profit receivables
Outstanding 1,598,805 units (June 2012: 1,598,805 units)
Units outstanding 5,055 units (June 2012: 4,885)
MCB Financial Services (Private) Limited
Trustee fee payable
Outstanding units 54,508 (June 2012: 52,927 units) 5,351,554
99,759
493,932
161,658,338
3,4051,139,995
6,049189,636
2,953,64112,480
161,025,057
509,119
113,899
5,489,821
10 DATE OF AUTHORISATION FOR ISSUE
Condense interim financial statements were authorised for issue on October 23, 2012 by the Board of Directors
of the Management Company.
11 GENERAL
Figures have been rounded off to the nearest rupee.
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Directors Report 64
7/30/2019 Quarterly Reports Sep 2012
67/112
Asset Allocation Fund
Category: Asset Allocation Scheme
7/30/2019 Quarterly Reports Sep 2012
68/112
7/30/2019 Quarterly Reports Sep 2012
69/112
QUARTERLY REPORT SEPTEMBER 2012 67
7/30/2019 Quarterly Reports Sep 2012
70/112
Asset Allocation Fund
AcknowledgementsWe thank our valued investors who have placed their confidence in us. The Board is also thankful to the Securities andExchange Commission of Pakistan, the State Bank of Pakistan, the Trustee of the Fund and the Islamabad Stock Exchangefor their continued cooperation and support. The Board of Directors also appreciates the efforts put in by the managementteam and for their commitment and hard work.
For and on behalf of the Board of Directors of the Management Company
Chief Executive Officer
Karachi: October 23, 2012
QUARTERLY REPORT SEPTEMBER 2012Financial Statements 68
7/30/2019 Quarterly Reports Sep 2012
71/112
Asset Allocation Fund
Asset Allocation Fund
Category: Asset Allocation Scheme
QUARTERLY REPORT SEPTEMBER 2012 69
ASKARI ASSET ALLOCATION FUND
CONDENSED INTERIM STATEMENT OF ASSETS AND LIABILITIESAS AT SEPTEMBER 30, 2012
N t
Un-Audited
September
30 2012
Audited
June
30 2012
7/30/2019 Quarterly Reports Sep 2012
72/112
Asset Allocation Fund
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
ASSETS
Bank balances
Investments
Dividend, prepayments and other receivables
Security deposits
Total assets
LIABILITIES
Payable to Askari Investment Management
Limited- Management Company
Payable to Central Depository Company of Pakistan
Limited - TrusteeAnnual f ee payable to Securit ies and Ex change Commission
of Pakistan
Payable against purchase of investments
Payable against redemption of units
Accrued expenses and other liabilities
Total liabilities
NET ASSETS
Unit holders' fund (as per statement attached)
Contingencies and commitments
Number of units in issue
Net asset value per unit
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
Note
5 25,488,702 13,883,816
6 193,194,485 178,116,256
2,080,426 1,825,866
3,600,000 3,600,000
224,363,613 197,425,938
623,605 698,906
57,533 57,376
46,852 174,646
- 38,625
13,321,262 -
3,743,620 3,211,050
17,792,872 4,180,603
206,570,742 193,245,335
206,570,742 193,245,335
7
4,811,329 4,198,350
42.9342 46.0289
30, 2012 30, 2012
-----------------(Rupees)------------------
---------- (Number of units) ------------
-----------------(Rupees)------------------
QUARTERLY REPORT SEPTEMBER 2012 70
ASKARI ASSET ALLOCATION FUND
CONDENSED INTERIM INCOME STATEMENT (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
SeptemberSeptember
7/30/2019 Quarterly Reports Sep 2012
73/112
Asset Allocation Fund
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Income
Net realised gain / (loss) on sale of investments
Dividend income
Profit on bank deposits
Income from term finance certificates
Income from government securities
Income from Term Deposit Receipts
Other income
Net unrealised gain / (loss) on revaluation of investments classified
as 'at fair value through profit or loss'
Expenses
Remuneration of the Management Company
Sindh sales tax on services
Remuneration of the Trustee
Annual fee - Securities and Ex change Commission of Pakistan
Amortisation o f formation costs
Securities transaction costs
Auditors' remuneration
Legal and professional charges
Printing and stationery expenses
Settlement and bank charges
Rating fee
Listing feeCustodian fee
Net income from operating activities
Element of (loss) / income and capital (losses) / gains included
in prices of units issued less those in units redeemed - net
Net (loss) / income for the quarter before taxation
Taxation
Net (loss) / income for the quarter after taxation
Earnings per unit
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
Note
3,188,025 (480,979)
1,148,047 3,315,262
585,764 712,327
129,098 417,483
2,093,665 607,729
- 12,342
- 407
7,144,599 4,584,571
9,136,013 (2,013,481)
16,280,612 2,571,090
1,355,422 1,304,944
216,867 208,792
176,438 175,956
46,852 41,324
- 129,639
129,329 170,448
114,372 105,574
12,568 8,799
23,609 23,609
71,728 60,214
27,650 25,136
- 2,513- 3,799
2,174,835 2,260,747
14,105,776 310,343
(35,679,894) 889,948
(21,574,118) 1,200,291
- -
(21,574,118) 1,200,291
8
September
30, 2011
September
30, 2012
-----------------(Rupees)------------------
QUARTERLY REPORT SEPTEMBER 2012 71
ASKARI ASSET ALLOCATION FUND
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
SeptemberSeptember
7/30/2019 Quarterly Reports Sep 2012
74/112
Asset Allocation Fund
For Askari Investment Management Limited(Management Company)
DirectorChief Executive Officer
Net (loss) / income for the quarter after taxation
Other comprehensive income
Total comprehensive (loss) / income for the quarter
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
(21,574,118) 1,200,291
- -
(21,574,118) 1,200,291
p
30, 2011
p
30, 2012
-----------------(Rupees)------------------
QUARTERLY REPORT SEPTEMBER 2012 72
ASKARI ASSET ALLOCATION FUND
CONDENSED INTERIM DISTRIBUTION STATEMENT (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
September 30,
2011
September 30,
2012
7/30/2019 Quarterly Reports Sep 2012
75/112
Asset Allocation Fund
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Accumulated loss brought forward
Realised loss
Unrealised loss
Net (loss) / income for the quarter
- Cash distribution
- Bonus units
Accumulated loss carried forward
Realised loss
Unrealised income / (loss)
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
Final distribution of Rs 6.2878 per unit on July 6, 2012 for the year ended June
30, 2012. (2011: Rs Nil per unit)
(226,024,921) (251,008,249)
(565,605) (3,369,871)
(226,590,526) (254,378,120)
(21,574,118) 1,200,291
(18,863,849) -
(7,534,536) -
(26,398,385) -
(274,563,029) (253,177,829)
(283,699,042) (251,164,348)
9,136,013 (2,013,481)
(274,563,029) (253,177,829)
-------------------(Rupees)-------------------
Accumulated loss carried forward
QUARTERLY REPORT SEPTEMBER 2012 73
ASKARI ASSET ALLOCATION FUND
CONDENSED INTERIM STATEMENT OF MOVEMENT IN UNIT HOLDERS' FUND (UNAUDITED)FOR THE QUARTER ENDED SEPTEMBER 30, 2012
September
30 2011
September
30 2012
7/30/2019 Quarterly Reports Sep 2012
76/112
Asset Allocation Fund
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
Net assets at beginning of the quarter
Redemption of 1,329,282 units (2011: 23,461 units)
Issue of 189,590 bonus units (2011: Nil)
Element of (loss) / income and capital (losses) / gains included in prices of units
issued less those in units redeemed - net
- transferred to income statement
Net realised gain / (loss) on sale of investments
Net unrealised gain / (loss) on revaluation of investments
classified as 'at fair value through profit or loss'
Other net (loss) / income for the quarter
Other comprehensive income
- Cash distribution
- Bonus units
Net assets at the end of the quarter
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
Issue of 1,752,670 units (2011: 8,477 units)
Final distribution of Rs 6.2878 per unit on July 6, 2012 for the year ended June 30,
2012. (2011: Rs Nil per unit)
193,245,335 177,149,656
74,056,449 328,805
(55,972,970) (937,284)
18,083,479 (608,479)
7,534,536
218,863,350 176,541,177
35,679,894 (889,948)
3,188,025 (480,979)
9,136,013 (2,013,481)
(33,898,155) 3,694,751
- -
(21,574,117) 1,200,291
(18,863,849) -
(7,534,536) -(26,398,385)
206,570,742 176,851,520
30, 201130, 2012
------------------(Rupees)-----------------
QUARTERLY REPORT SEPTEMBER 2012 74
ASKARI ASSET ALLOCATION FUND
CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2012
September
30 2011
September
30 2012
7/30/2019 Quarterly Reports Sep 2012
77/112
Asset Allocation Fund
For Askari Investment Management Limited
(Management Company)
DirectorChief Executive Officer
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) / income for the quarter before taxation
Adjustments for:
Net unrealised (gain) / loss on revaluation of investments
classified as 'at fair value through profit or loss'
Amortisation of formation costs
Element of (loss) / income and capital (losses) / gains included
in prices of units issued less those in units redeemed - net
(Increase) / decrease in assets
Investments - net
Receivable against sale of investmentsDeposits, prepayments and other receivables
(Decrease) / increase in liabilities
Payable to Askari Investment Management
Limited - Management Company
Payable to Central Depository Company of Pakistan Limited - Trustee
Annual fee payable to Securities and Exchange Commission of Pakistan
Payable against purchase of investments
Payable against redemption of units
Accrued expenses and other liabilities
Net cash inflow from operating activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issue of units
Payments on redemption of units
Distributions paid
Net cash outflow on financing activities
Net increase in cash and cash equivalents during the quarter
Cash and cash equivalents at the beginning of the quarter
Cash and cash equivalents at the end of the quarter
The annexed notes 1 to 11 form an integral part of these condensed Interim financial statements.
Note
(21,574,118) 1,200,291
(9,136,013) 2,013,481
- 129,639
35,679,894 (889,948)
26,543,881 1,253,172
4,969,763 2,453,463
(5,942,216) (13,378,495)
- 202,365(254,560) 4,756,101
(6,196,776) (8,420,029)
(75,301) 72,620
157 (158)
(127,794) (107,655)
(38,625) 9,711,370
13,321,262
532,570 264,053
13,612,269 9,940,230
12,385,256 3,973,664
74,056,449 328,805
(55,972,970) (1,241,598)
(18,863,849) -
(780,370) (912,793)
11,604,886 3,060,871
13,883,816 41,309,219
5 25,488,702 44,370,090
30, 201130, 2012
-----------------(Rupees)------------------
7/30/2019 Quarterly Reports Sep 2012
78/112
QUARTERLY REPORT SEPTEMBER 2012 76
ofPakistan
Commission
1.0
6%
0.0
02%
3.8
1%
0.0
54%
4.9
5%
0.0
17%
9.8
2%
3.8
6%
0.0
81%
3.8
6%
7.3
2%
0.0
64%
6.5
2%
0.0
29%
13
.83%
10
.04%
0.1
21%
9.9
2%
0.0
08%
6.6
8%
0.0
35%
26
.64%
0.0
0%
0.0
00%
0.0
0%
0.0
00%
2.2
7%
0.0
10%
4.1
7%
0.0
06%
5.8
3%
0.0
22%
12
.27%
0.8
8%
0.0
17%
57
.31%
valueasa
ageoftotal
stments
Paidupvalueofshares
heldaspercentageofpaid
upcapitalofinvestee
company
7/30/2019 Quarterly Reports Sep 2012
79/112
Asset Allocation Fund
6.
1.1
Allshareshaveanominalvalue
ofRs10each.
6.
1.2
Investmentsincludeshareswith
marketvalueofRs8,6
46,2
00(June30,
2012:Rs
8,5
88,3
00)whichhavebeen
pledgedwithNationalClearingCompan
yo
LimitedforguaranteeingsettlementoftheFund'stradesinaccordancew
ithCircularno11datedOctober23,
200
7issuedbytheSecuritiesandExchange
C
ofPakistan.
6.1
Heldfortrading-sharesoflist
edcompanies
Bank
UnitedBankLimitd
-
27
,687
-
-
27
,687
2,1
13
,202
2,0
42,470
(70
,732)
0.9
9%
BankAlfalahLimited
184
,000
289
,000
-
-
473
,000
8,2
95
,100
7,3
59,880
935
,220
3.5
6%
AlliedBankLimited
140
,012
17
,000
-
8,0
00
149
,012
9,7
04
,130
9,5
71,041
(133
,089)
4.6
3%
9.1
8%
Personalgoods
NishatMillsLimited
141
,767
-
-
10
,000
131
,767
6,2
69
,474
7,4
65,918
1,1
96
,444
3.6
1%
3.6
1%
ConstructionandMaterials
D.G
KhanCementLimited
94
,514
250
,440
-
63
,962
280
,992
13
,247
,845
14
,133,898
886
,053
6.8
4%
LuckyCementLimited
16
,871
90
,173
-
12
,463
94
,581
12
,662
,857
12
,592,514
(70
,343)
6.1
0%
12
.94%
OilandGas
PakOilfieldsLimited
44
,843
9,5
00
-
9,5
63
44
,780
17
,031
,705
19
,405,861
2,3
74
,156
9.3
9%
PakistanPetroleum
Limited
83
,614
12
,500
21
,778
9,0
00
108
,892
16
,810
,084
19
,157,370
2,3
47
,285
9.2
7%
PakistanStateOilCompanyLimited
54
,515
-
9,9
03
5,0
00
59
,418
11
,677
,618
12
,905,590
1,2
27
,972
6.2
5%
24
.92%
Electricity
PakGenPowerLimited
463
,846
-
-
463
,846
-
-
-
-
0.0
0%
NishatPowerLimited
10
,061
-
-
10
,061
-
-
-
-
0.0
0%
Chemicals
En
roCorporationLimited
37
,752
41
,000
-
37
,752
41
,000
4,3
78
,605
4,3
77,570
1,0
35
2.1
2%
FaujiFertilizersCompanyLimited
60
,672
20
,047
-
8,6
72
72
,047
8,0
07
,985
8,0
52,693
44
,708
3.9
0%
FatimaFertilizersCompanyLimited
469
,555
-
-
3,0
00
466
,555
11
,509
,912
11
,271,969
(237
,943)
5.4
6%
-
11
.47%
GeneralIndustrials
PackagesLimited
14
,576
-
-
-
14
,576
1,4
53
,227
1,7
08,016
254
,788
0.8
3%
Total
123
,161
,743
130
,044,789
6,8
83
,046
53
.60%
Totalcostofinvestments
126
,364,626
Nameoftheinvesteecompany
A
satJuly1,
2012
Purchases
duringthe
period
Bonus
issue
Marketvalueasa
percentageofnet
assets
Market
percenta
inves
AsatSeptember
30,
2012
Carryingvalueas
atSeptember30,
2012
Marketvalueas
at
September30,20
12
-----------------------------------------Numberofshares-----------
--------------------
--------------Rupees---------------
Salesduring
theperiod
Appreciation/
(diminution)
QUARTERLY REPORT SEPTEMBER 2012 77
6.6
7%
9.9
8%
0.0
0%
0.0
0%
0.0
0%
0.0
0%
0.0
0%
0.0
0%
0.0
0%
0.0
0%
0.0
0%
0.0
0%
9.9
8%
14
.94%
12
.32%
18
.44%
0.0
0%
0.0
0%
0.0
0%
0.0
0%
28
.97%
1.0
2%
2.8
7%
2.8
7%
Marketvalueasa
percentageoftotal
investments
valueasa
ageofNet
sets
uesizeon
sofmarket
alue
Percentageinrelationto
nto
- -
7/30/2019 Quarterly Reports Sep 2012
80/112
Asset Allocation Fund
6.2
Heldfortrading-Governmentsecurities
MARKETTREASURYBILLS
Decem
ber
1,
2011
1year
14
,000
,000
-
-
14
,000
,000
13,650
,913
13
,771
,828
120
,916
January
26
,2012
1year
15
,000
,000
-
15
,000
,000
-
-
-
May
17
,2012
3Mon
ths
25
,000
,000
-
25
,000
,000
-
-
-
Augus
t9
,2012
1year
25
,000,000
25
,000
,000
-
-
-
Ju
ly26
,2012
3Mon
ths
25
,000,000
25
,000
,000
-
-
-
PAKISTANINVESTMENTBONDS
Augu
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