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| Pakistan Capital Market Fund (PCM) |
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| Composite |
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Pakistan Capital Market Fund (PCM) is an open-end Fund, investing in a hybrid of equity, debt and money market securities. Allocation depends on the opportunities available within different asset classes.
The Fund seeks the optimum absolute return from Pakistan’s capital market. |
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14-November-2005 Pakistan Capital Market Fund (PCM) is the first Fund in Pakistan, converted from a closed-end Fund to an open-end Fund. The conversion allows investors to benefit from the full value of NAV whenever they wish to cash out. |
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| PCM is a broader capital market Fund with investment allocation between equity, debt, and money market instruments but does not have set allocation limits for any asset class (with the exception of an upper limit on government securities), If a particular asset class offers better prospects, the Fund is likely to have higher allocation in such asset class and vice versa |
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| Performance( Since Inception) |
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| PCM (%) |
7.95 |
43.73 |
28.2 |
26.54 |
-6.38 |
| KSE (%) |
10.85 |
41.12 |
34 |
37.87 |
-10.77 |
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2004 |
2005 |
2006 |
2007 |
2008 |
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| PCM - Overall
Asset Allocation (July, 08) |
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Fee Schedule |
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| Management fee: 3.00% per annum of average NAV |
| Front-end load: 4.00% of the NAV |
| Overall annual expense
ratio for the composite is as follows : |
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| Financial Year |
Expense Ratio |
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| 2004 |
4.20% |
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| 2004-05 |
4.23% |
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| 2005-06 |
3.82% |
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| 2006-07 |
4.12% |
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^ annualized |
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Expense ratio has been calculated taking into account operating expenses as a percentage of average net assets of the composite |
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PCM Assets |
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| Financial Year |
PCM Assets |
Funds under management |
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PKR (million) |
PKR (million) |
| 2003-04 |
1,618.90 |
8,211.85 |
| 2004-05 |
1,698.16 |
14,453.25 |
| 2005-06 |
1,435.65 |
19,709.01 |
| 2006-07 |
1,084.19 |
23,184.34 |
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Quick Stats |
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| Date of Inception |
24th January, 2004. |
| Fund Type |
Open-end Equity |
| Minimum investment |
Rs. 5,000 |
| Fund Manager |
Basharat Ullah |
| Rating by PACRA |
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| Initial Public Offer |
PKR 10.00 |
| Currency |
PKR |
| Registrar |
Gangjees Registrar Services(Pvt.) Ltd. |
| Trustees |
Central Depository Company of Pakistan Ltd.(CDC) |
| Auditors |
KPMG Taseer Hadi & Co. |
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| Volatility Measures
(July, 08) |
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PCM |
KSE-100 |
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Price to Earning - 2008 x |
14.48 |
10.25 |
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Beta x |
0.63 |
1.00 |
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Standard Deviation (%) |
16.48 |
17.02 |
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Sharpe Ratio x* |
-0.05 |
0.11 |
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Net Assets/Mkt. Cap. (Rs. bn) |
0.73 |
3,301.97 |
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* 3 years or since inception |
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| Return of Fund
(July, 08) |
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(%) |
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PCM |
KSE-100 |
BM |
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Month on Month |
-6.82 |
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-13.88 |
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-11.05 |
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Quarter on Quarter |
-17.41 |
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-30.01 |
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July 08 to Date |
-6.82 |
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-13.88 |
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-11.05 |
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Since Inception (24th Jan,04) |
115.89 |
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126.28 |
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Top Ten Holdings
(July, 08) |
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Century Paper & Board Mills Ltd. |
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Fauji Fertilizer Company Ltd. |
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Kot Addu Power Company Ltd. |
| National Bank of Pakistan Ltd. |
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Nestle Milk Pak Ltd. |
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Oil & Gas Development Co. Ltd. |
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Packages Ltd. |
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Pak Petroleum Ltd. |
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Pakistan Telecommunication Co. Ltd. |
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Suraj Cotton Mills Ltd.
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| Dividend History |
| Financial Year |
% of Face Value |
Payout /unit (Rs.) |
Form |
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2007-08
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3 |
0.3 |
Bonus |
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2006-07 |
30.00 |
3.00 |
Bonus |
| 2005-06 |
30.00 |
3.00 |
Bonus |
| 2004-05 |
17.50 |
1.75 |
Cash |
| 2004-05 |
12.50 |
1.25 |
Cash |
| 2003-04 |
8.25 |
0.825 |
Cash |
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All investments in mutual funds and securities are subject to market risk. The NAV based price of
these units and any dividends and return thereon are dependent on forces and factors affecting the
capital markets. These may go up or down based on market conditions. Past performance is not
necessarily indicative of future results. Please read the Offering Document to understand the
investment policies and the risk involved. |
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