FUND MANAGER’S REPORT

OCTOBER

To Invest:
SMS “CPPI”
to 9182.

Faysal Active Principal Preservation Plan

(Under Faysal Financial Planning Fund)

Preserve and Grow

Key Benefits
100% Capital preservation upon maturity of the plan
Capital growth opportunity
Hassle-free portfolio diversification
Upto 50% in exposure in equity based on the market outlook while preserving capital
Tax benefit as per Section 62 of ITO 2001

Risk Disclosure: All investments in mutual fund are subject to market risks. Investors are advised in their own interest to carefully read the contents Rating by VIS

of Offering Document in particular the investment policies mentioned in clause (02) Risk Factors mentioned in clause (2.10) and warnings in clause
(09) before making any investmentdecision. Capital preservation only applies to unit holders who hold their investments untill maturity date.
AM3+
(Good Quality Management)
The Month in Review
Macro-Economic Review
Political parties are staging demonstrations against Government in Capital as
lower income group is increasingly disenchanted by Pakistan’s falling
business cycle amid declining consumption, wavering investments, fiscal
tightening and unsettled external accounts along with increased cost of
capital. As of FY 19, the real growth rate has declined to 2.9% below mean
level of 4.4% vs. 5.8% as of FY 18. The IMF expects cycle to rebound in FY
21.
Ruling junta is making frequent claims of economic improvements as FY20Q1
CAD has improved to USD 1.5bn (ann. 2.5% of GDP) vs. USD 4.5bn/6.0% in
SPLY but is still at critical levels because FY20Q1 exports of USD 7.3bn have
posted YoY growth of 1% vs. 3% in SPLY despite PKR/USD 27% TTM
depreciation. Contracting FY20Q1 imports of USD 13.7bn vs. USD 16.1bn in
SPLY are behind improvement due to declining aggregate demand. However,
as stated earlier, exports have to improve sustainably to shift CAD to lesser
critical level and bring absolute certainty over 1) currency depreciation and 2)
policy rate.
Private sector is increasingly arguing for monetary easing as in third last MPC
held in Jul 19, Central Bank raised policy rate by 100bps to 13.25% vs. 6.50%
in SPLY. Your managers foresee that significant monetary easing is still far
because 1) forward real rates are still low and 2) increasing focus on private
savings to finance economic development.
PKR/USD is trading at 156 vs. 134 in SPLY with declining undervaluation of
7% vs. overvaluation of 7% in SPLY. Central Bank’s foreign exchange
reserves currently stand at USD 7.8bn (import cover 1.8x months) vs. USD
7.6bn/1.6x in SPLY. Furthermore, rapid depreciation has already taken place
in lieu of ballooning PKR/USD overvaluation; therefore, going forward,
paradigm with current debt exposure of 1) PKR 5.2trn treasury bills vs. PKR
4.7trn in SPLY and 2) PKR 11.6trn treasury bonds vs. PKR 3.1trn in SPLY as
borrowing from Central Bank is being shifted to banks. Going forward,
Government plans to increase floating debt to 30% of total liabilities.
Over last couple of months, Central Bank has conducted six treasury bills
auctions, declining weighted average yield as of Oct 19 for 1) 3M to 13.25%
from 13.75% (Jul 19), 2) 6M to 13.25% from 13.95% (Jul 19), & 3) 12M to
12.74% from 14.15% (Jul 19). The total amount realized is PKR 4.3trn with
forward quarter target of PKR 3.8trn. Interestingly, since the last MPC in which
rate was maintained, yields have declined by 49bps/66bps/109bps for
3M/6M/12M respectively.
In similar period, Central Bank conducted three treasury bonds auctions with
total accepted amount of PKR 450bn with decreasing weighted average yield
as of Oct 19 for 1) 3Y to 11.71% from 14.02% (Jul 19), 2) 5Y to 11.51% from
13.77% (Jul 19) and 3) 10Y to 11.26% from 13.45% (Jul 19). Since the last
MPC, yields have declined by 244bps/198bps/184bps for 3Y/5Y/10Y respec-
tively. Target for the ongoing quarter is PKR 450bn.
Yield Curve Comparison (Since Last Hike in MPC)
15.00% 0.50%
0.14%
14.50% 0.04%
0.00%
14.00%
13.50%
-0.37% -0.50%

PKR/USD movement will be in line with market determined forces with Central
Bank mainly regulating excessive volatility with oversight from IMF. 13.00%
-1.00%
These days monetizing consumption won’t be easy as it is in a free fall for 12.50%
instance 1) In line with international food price index and PKR/USD
-1.50%
movements FY20Q1 inflation is up by 11.5% YoY vs. 5.6% in SPLY, 2) 12.00%
-1.59%
MOGAS six monthly volumetric sale are up 0% YoY in Oct 19 vs. similar levels -1.81%
-1.72%
11.50%
in SPLY and 3) Quarterly auto loans are up by 8% in Sep 19 vs. 26% in SPLY. -2.00%

Over the short term, consumption will remain cut short by current monetary 11.00%
tightening cycle as reiterated by Central Bank consumer confidence survey. -2.37% -2.50%
-2.51%
10.50%
Pakistan has undertaken significant reforms to improve business environ- -2.56%

ment; however, industrialization continues to remain weak with TTM Sep 19 10.00% -3.00%
FDI of USD 1.7bn/0.8% of GDP vs. USD 3.0bn/1.3% in SPLY. Various 3M 6M 1Y 3Y 5Y 10Y 15Y 20Y 30Y

sectors also reflect similar themes, as 1) The YoY value of agricultural loans in
Diff 16-Jul-19 31-Oct-19
Sep 19 is down by 0.4% vs. 0.3% growth in SPLY 2) As of Sep 19, 6M
volumetric YoY Tractor sales are down by 32% vs. 1% growth in SPLY.
However, 1) Urea TTM Sep 19 volumetric sales YoY are up by 5% YoY vs.
-6% in SPLY, 2) Cement 3M Sep 19 volumetric sales YoY are up by 1% vs. Currently, secondary market participants believe that higher near term inflation
0% in SPLY and 3) Plot price index for FY20Q1 YoY is up by 2% vs. 1% in may not support rate cut for now and ample demand from corporates and
SPLY. Government’s plan to build pillars comprising of investments to foreigners is the only reason for declining yields.
support real economic growth may take a while in materializing as investors
have yet to develop interest in government’s economic architectural plan.
TTM fiscal deficit as of Jun 19 has clocked in at 9% as Government’s revenue Capital Market Equity Review
declined to 13% of GDP in the same period vs. 15% in SPLY which is also
keeping fiscal stimulus in check as development spending contracts to 2.4% KSE 100, total return index and your managers’ benchmark, has gained 7%
of GDP vs. 4.7% in SPLY. (% of gdp) In a nutshell, economy is going through MoM to close at 35,277 with exchange’s market capitalization of PKR
tough times as government is gradually taking required structural 6.5trn/USD 41.8bn/17% of GDP vs PKR 8.0trn/USD 60.2bn/22% in SPLY.
adjustments. The average TTM daily value traded is PKR 5.3bn/USD 37mn.
Growth rates are seasonally adjusted and are calculated in house.

Sector (GICS) Weight P/E MTD FYTD CYTD

Capital Market Securities Review KSE100 - 8.3 7.0% 4.3% -4.6%
Financials 29% 12.7x 6.2% 4.2% 5.0%
As of FY19, Government continues to run high fiscal deficit of 9% vs. 6% in
Materials 26% 10.1x 9.4% 16.3% 8.1%
SPLY as revenue declined to 13% vs. 15% in SPLY with development
spending of 3.2% vs. 4.7% in SPLY. Public debt as of FY19 has increased to Energy 19% 5.8x 10.2% 6.1% -0.5%
more than 95% vs. 80% in SPLY with external sources contributing around Utilities 8% 5.9x 3.8% -2.4% -10.4%
40% vs. 30% in SPLY. (% of gdp) Provisional tax collection for the 4MFY20 Consumer Discretionary 6% 7.0x 2.5% -3.6% -14.9%
stands at PKR 1.28trn vs. PKR 1.10trn in SPLY up YoY 16% however still
Consumer Staples 6% 36.2x 3.2% -2.4% -15.9%
short of PKR 167bn against target.
Sovereign credit rating of Pakistan remained downgraded and unchanged at Health Care 3% 17.3x 10.8% 11.9% -15.6%
B-&B3. Pakistan and Sri Lanka are Asia’s only frontier markets with continu-
ous downgrade in ratings. On the contrary, credit agencies have upgraded MSCI IMI Pakistan is currently trading at P/E & P/B of 7.7x & 1.1x respectively
Philippines and Vietnam with Bangladesh’s outlook remaining unchanged. with declining TTM net foreign outflows of USD 70.5mn vs USD 534.0mn in
Pakistan is part of IMF program; hence, managers are changing the maturity SPLY.

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Money Market Fund
(Annualized % p.a) Holding Period FMMF Benchmark
FY20 to Date 12.86% 12.65%
AA (f) (PACRA) Month on Month 13.00% 12.74%
1 year Trailing 11.05% 10.67%

Returns (%) FY19 FY18 FY17 FY16 FY15

FMMF 8.87% 5.23% 7.14% 5.67% 8.64%
Deloitte Yousuf Adil,
Chartered Accountants Benchmark 8.72% 5.35% 5.25% 5.34% 7.72%

Management Fee* 7.50% of gross earnings (min 0.50% p.a., Note : Funds returns computed on Simple annualized basis / NAV to NAV
max 0.80% p.a.) of average daily net Returns with dividend re-invested.
assets • Performance data does not include cost incurred by investor in the form
of sales load.

Min Subscription PKR 5,000

70% Three months PKRV rates + 30% Others Others
three months average deposit rates of including
Short Term
including
Receivables, Receivables,
three AA rated scheduled Banks 0.82% Cash
Sukuk,
2.07%
9.48%
34.80%
Commercial
Cash
T-Bills,
Paper, 79.02%
54.00% LOP/
Placements 9.43%
with Banks
and DFIs
3.49%
AM3+ (VIS) Commercial

106.1173 Paper,
6.89%

5,881.26 Jun’19
Oct’19 Sept’19
Jun’19

Weighted Average Maturity 48.37 days

Total Expense Ratio (Annualized) 1.31% TER includes 0.39% representing government levy,SECP fee and
Sindh worker welfare Fund excluding reversal of WWF.

Total Expense Ratio (Absolute) 0.44% Sindh worker welfare Fund excluding reversal of WWF.
TER includes 0.13% representing government levy,SECP fee and

*Effective from October 08, 2018

Government Securities 54.00%
AAA 2.80%
AA+ 27.22%
Faysal Money Market Fund (FMMF) seeks to provide stable and
competitive returns in line with the money markets exhibiting low volatilty AA 15.17%
consistent with capital preservation by constructing a liquid portfolio of NR (include receivables against sale of Government Securities) 0.82%
low risk short term investments yielding competitive returns.

13.00%
12.95%
12.88%
12.77%

12.74%
12.42%
12.27%
12.20%
11.92%
11.66%

14.00%
INVESTMENT COMMITTEE
10.77%
10.22%
10.11%

12.00%
9.76%

Mr. Khaldoon Bin Latif Chief Executive Officer

9.50%
9.47%

9.27%
9.15%

9.10%

9.01%
8.99%
8.83%

10.00%
7.97%

Mr. Ayub Khuhro Chief Investment Officer

7.53%
7.50%

7.21%

8.00%
Mr. Faisal Ali Khan CFO and Company Secretary
Syed Shahid Iqbal Sr. Fund Specialist - Fixed Income 6.00%

Mr. Muhammad Muzammal Fund Manager - Fixed Income 4.00%

Mr. Muhammad Akbar Latif Khan Head of Research 2.00%

Mr. Khurram Salman Head of Compliance and Internal Audit 0.00%

Mr. Mohammad Qasim Manager Risk

The Scheme has maintained provisions against Sindh Workers' Welfare Fund liabilty to the tune of Rs. 10,769,457 as at October 31, 2019. If the
same were not made the NAV per unit / return of the Scheme would have been higher by Rs. 0.19 (0.18%). For details investors are advised to read
the Note 7.2 of the latest financial statements for the year ended September 30, 2019.

Faysal Money Market Fund (FMMF) yielded an annualized return of 13.00% on month-on-month basis relative to its benchmark of 12.74%. During
the month your fund remained active in debt market and took exposures in T-bills to book short term gains. Going forward, fund management is in
negotiations with commercial banks for a better daily product rate.

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Savings Growth Fund
(Annualized % p.a) Holding Period FSGF Benchmark
FY20 to Date 10.17% 13.80%
AA- (f) (PACRA) Month on Month 6.71% 13.61%
1 year Trailing 9.41% 12.06%

FY19 FY18 FY17 FY16 FY15

Deloitte Yousuf Adil, 7.59% 4.90% 5.99% 7.75% 12.81%

Chartered Accountants
10.21% 6.35% 6.10% 6.50% 6.61%
1.50% Note : Funds returns computed on Simple annualized basis / NAV to NAV
FEL up to 2% of NAV & BEL 0% Returns with dividend re-invested.
• Performance data does not include cost incurred by investor in the form
of sales load.
Six months KIBOR rates

Others Others
including including
Receivables, Receivables,
3.19% 3.10%
Commercial
TFC/ Cash, Paper, Cash,
AM3+ (VIS) Sukuk, 20.78% 37.82%
5.01%
45.91%
105.90
PIBs,
1,617.38 10.01%
TFC/
Sukuk,
T-Bills, 49.54%
20.11%
Weighted Average Maturity 1.75 Yr PIBs,
Total Expense Ratio (Annualized) 2.25% TER includes 0.45% representing government levy,SECP fee and
Sindh worker welfare Fund excluding reversal of WWF.
4.53%

Total Expense Ratio (Absolute) 0.76% TER includes 0.15% representing government levy,SECP fee and
Sindh worker welfare Fund excluding reversal of WWF.
Oct’19 Sept’19

Investment Objective
To generate competitive returns by investing primarily in debt and fixed income instruments having investment grade credit rating.
INVESTMENT COMMITTEE
Mr. Khaldoon Bin Latif Chief Executive Officer
Government Securities 30.12% Mr. Ayub Khuhro Chief Investment Officer
AAA 0.04% Mr. Faisal Ali Khan CFO and Company Secretary
AA+ 10.76% Syed Shahid Iqbal Sr. Fund Specialist - Fixed Income
Mr. Muhammad Muzammal Fund Manager - Fixed Income
AA 13.92%
Mr. Muhammad Akbar Latif Khan Head of Research
AA- 14.75% Mr. Khurram Salman Head of Compliance & Internal Audit
A+ 9.18% Mr. Mohammad Qasim Manager Risk
A 18.04%

14.07%

13.96%

13.61%
13.55%
13.05%

16.00%
NR (include receivables against sale of investments) 3.19%
12.28%
12.05%

11.62%
11.25%

11.31%
10.90%
10.86%

14.00%
10.58%
10.76%

10.47%
10.63%
9.86%
9.44%

12.00%
8.62%
8.63%

International Brands Ltd. (IBLHL) - Sukuk 15-Nov-17 9.48%

7.83%
7.62%

10.00%
7.18%

6.79%

6.71%
JS Bank Ltd. - TFC 14-Dec-16 9.18%
5.97%

Bank Of Punjab - TFC 23-Dec-16 7.73% 8.00%

Jahangir Siddiqui & Company Ltd. - TFC 06-Mar-18 6.00% 6.00%
Jahangir Siddiqui & Company Ltd. - TFC 18-Jul-17 4.52%
Dawood Hercules Corporation Ltd. - Sukuk 01-Mar-18 3.30% 4.00%
Askari Bank Ltd. - TFC 30-Sep-14 2.53% 2.00%
TPL Corporation Ltd. - TFC 19-Dec-17 2.42%
Dawood Hercules Corporation Ltd. - Sukuk 16-Nov-17 0.76% 0.00%

Non-Compliance Disclaimer: Faysal Savings Growth Fund holds below mentioned non-compliant investment. Before making any investment decision, investors should review this document
and latest Financial Statements.

NON COMPLIANCE
Name of Rating Existing Required Existing Type of Value of Investment Provision Value of % of Net % of
Non-Complaint required Rating Exposure as Exposure Breach Instrument before provisioning (If any) Investment Assets Total
Investment a % of NAV as a % of NAV after
provisioning Assets
Jahangir Siddiqui & Company
Ltd. - TFC (18 Jul 2017) BBB AA+ 10.00% TFC 74,775,000 74,775,000 4.62%
10.76% 0.76% - 10.52%
Jahangir Siddiqui & Company
Ltd. - TFC (06 Mar 2018) BBB AA+ 10.00% TFC 99,283,500 99,283,500 6.14%

The Scheme has maintained provisions against Sindh Workers' Welfare Fund liabilty to the tune of Rs. 12,110,981 as at October 31, 2019. If the
same were not made the NAV per unit / return of the Scheme would have been higher by Rs. 0.79 (0.75%). For details investors are advised to read
the Note 7.2 of the latest financial statements for the year ended September 30, 2019.

Faysal Savings Growth Fund (FSGF) yielded an annualized return of 10.17% on YTD basis. As a measure of our consolidation strategy funds were placed
in higher yielding daily product bank accounts, while TFC exposure maintained at 45.91%. Going forward, the fund will continue to build exposure in
lucrative investment avenues and enhance yields with a proactive investment strategy.

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Financial Sector Opportunity Fund
(Annualized % p.a) Holding Period FFSOF Benchmark
FY20 to Date 13.38% 13.80%
AA-(f) (PACRA) Month on Month 13.66% 13.61%
Moderate
1 year Trailing 11.53% 12.06%

FY19 FY18 FY17 FY16 FY15

Deloitte Yousuf Adil, 8.81% 4.85% 5.27% 7.08% 7.41%
Chartered Accountants
10.21% 6.35% 6.10% 5.88% 8.22%
0.50%
Note : Funds returns computed on Simple annualized basis / NAV to NAV
Up to 2% of NAV
Returns with dividend re-invested.
• Performance data does not include cost incurred by investor in the form
of sales load.
Six months KIBOR rates

Others Commercial Others

Commercial including
including Paper,
Paper, Receivables,
Receivables, 3.68%
9.07% 1.05%
2.43%
AM3+ (VIS) TFCs/ TFCs/
106.38 Sukuk, Sukuk,
3.46% Cash 6.36% Cash
1,607.72 78.86% 88.91%
T-Bills,
6.17%
Weighted Average Maturity 0.12 Yr
Total Expense Ratio (Annualized) 1.14% TER includes 0.37% representing government levy,SECP fee and
Sindh worker welfare Fund excluding reversal of WWF.

Total Expense Ratio (Absolute) 0.38% TER includes 0.12% representing government levy,SECP fee and
Sindh worker welfare Fund excluding reversal of WWF.
Oct’19 Sept’19

Faysal Financial Sector Opportunity Fund (FFSOF) seeks to provide a competitive rate of returns to its investors by investing in money market and
debt instruments with major exposure in financial sector instruments.

Government Securities 6.17% Hub Power Company Limited - Sukuk (9M) 27-Feb-19 1.51%
AAA 0.02% Jahangir Siddiqui & Company Ltd - TFC 6-Mar-18 0.61%
AA+ 5.20% Bank Alfalah Ltd. - TFC 20-Feb-13 0.56%
AA 7.03% Bank Of Punjab - TFC 23-Dec-16 0.55%
AA- 77.36% JS Bank Ltd. - TFC 14-Dec-16 0.23%
A+ 0.24%
A 1.55%
NR(include receivables against sale of investments) 2.43%

14.07%

13.96%
13.93%
16.00%

13.66%
13.61%
13.55%
13.05%

13.05%
12.05%

12.03%
11.72%

14.00%
11.56%
11.25%

INVESTMENT COMMITTEE
10.90%
10.86%
10.76%
10.63%

10.52%

12.00%
9.97%
9.86%

Mr. Khaldoon Bin Latif Chief Executive Officer

9.49%
9.44%

9.35%
9.15%
8.47%

10.00%
Mr. Ayub Khuhro Chief Investment Officer
6.92%

Mr. Faisal Ali Khan CFO and Company Secretary 8.00%

Syed Shahid Iqbal Sr. Fund Specialist - Fixed Income
6.00%
Mr. Muhammad Muzammal Fund Manager - Fixed Income
Mr. Muhammad Akbar Latif Khan Head of Research 4.00%

Mr. Khurram Salman Head of Compliance and Internal Audit 2.00%

Mr. Mohammad Qasim Manager Risk
0.00%

The Scheme has maintained provisions against Sindh Workers' Welfare Fund liabilty to the tune of Rs. 2,255,485 as at October 31, 2019. If the same
were not made the NAV per unit / return of the Scheme would have been higher by Rs. 0.15 (0.14%). For details investors are advised to read the
Note 7.2 of the latest financial statements for the year ended September 30, 2019.

Faysal Financial Sector Opportunity Fund (FFSOF) yielded an annualized return of 13.66% on monthly basis. Cash allocations with banks were
maintained at 78.86% at the end of the month whereas exposure in financial TFC’s stood at 3.46%. Given current allocation susceptibility of the
portfolio is significantly reduced, making it more suitable for long term investors with requiring a sustainable income.

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Islamic Savings Growth Fund
(Annualized % p.a) Holding Period FISGF Benchmark
FY20 to Date 11.35% 5.88%
A+(f) (VIS) Month on Month 12.58% 6.31%
1 year Trailing 9.92% 4.75%

Returns (%) FY19 FY18 FY17 FY16 FY15

FISGF 7.85% 4.42% 5.30% 5.50% 8.22%
Deloitte Yousuf Adil,
Chartered Accountants Benchmark 3.69% 2.44% 3.11% 4.68% 6.61%
Management Fee* 10% of gross earnings (min 0.90% p.a. , Note : Funds returns computed on Simple annualized basis / NAV to NAV
max 1.50% p.a.) of average daily net assets Returns with dividend re-invested.
• Performance data does not include cost incurred by investor in the form
FEL up to 2% of NAV & BEL 0% of sales load.

Six months average deposit rates of three A rated scheduled

Islamic Banks or Islamic windows of conventional Banks
Others, Others,
including including
receivables receivables
8.10% 8.56%
COM / ICP,
10.20% Cash, Cash,
59.81% COM / ICP, 54.28%
AM3+ (VIS) 8.82%

106.91 TFCs/
Sukuk TFCs/
1,831.60 21.89% Sukuk
28.33%

Weighted Average Maturity 0.68 Yr Oct’19 Sept’19

Total Expense Ratio (Annualized) 1.79% TER includes 0.42% representing government levy,SECP fee and
Sindh worker welfare Fund excluding reversal of WWF.

Total Expense Ratio (Absolute) 0.60% Sindh worker welfare Fund excluding reversal of WWF.
TER includes 0.14% representing government levy,SECP fee and

*Effective from January 01, 2018

Faysal Islamic Savings Growth Fund (FISGF) seeks to provide maximum possible preservation of capital and a reasonable rate of return via investing
in Shariah Compliant money market and debt securities having good credit quality rating and liquidity.

International Brands Ltd. (IBLHL) - Sukuk 15-Nov-17 6.09% AAA 1.99%

Hub Power Company Limited - Sukuk (9M) 27-Feb-19 3.78% AA+ 3.95%
Dawood Hercules Corporation Ltd. - Sukuk 16-Nov-17 3.19%
AA 66.78%
Dawood Hercules Corporation Ltd. - Sukuk 01-Mar-18 2.91%
TPL Corporation Ltd. - Sukuk 13-Apr-16 2.11% AA- 0.00%
BYCO Petroleum Pakistan Ltd. - Sukuk 18-Jan-17 1.99% A+ 6.66%
Ghani Gases Ltd. - Sukuk 02-Feb-17 1.82% A 9.82%
A- 2.70%
NR (include receivables against sale of investments) 8.10%

12.58%
11.49%
11.46%
11.28%

INVESTMENT COMMITTEE 14.00%

10.38%

12.00%
9.26%

Mr. Khaldoon Bin Latif Chief Executive Officer

8.59%

8.29%
8.10%

7.77%

10.00%
7.37%

7.30%

Mr. Ayub Khuhro Chief Investment Officer

6.31%
6.09%
5.71%

8.00%
Mr. Faisal Ali Khan CFO and Company Secretary
5.42%
5.19%
4.99%
4.65%
4.54%
4.09%
3.73%

Syed Shahid Iqbal Sr. Fund Specialist - Fixed Income 6.00%

3.20%
3.16%
3.01%
2.86%

Mr. Muhammad Muzammal Fund Manager - Fixed Income 4.00%

Mr. Muhammad Akbar Latif Khan Head of Research 2.00%

Mr. Khurram Salman Head of Compliance & Internal Audit 0.00%

Mr. Mohammad Qasim Manager Risk

The Scheme has maintained provisions against Sindh Workers' Welfare Fund liabilty to the tune of Rs. 5,729,079 as at October 31, 2019. If the same
were not made the NAV per unit / return of the Scheme would have been higher by Rs. 0.33 (0.31%). For details investors are advised to read the
Note 7.2 of the latest financial statements for the year ended September 30, 2019.

Faysal Islamic Savings and Growth Fund (FISGF) yielded an annualized return of 12.58% on monthly basis relative to its benchmark of 6.31%. During
the month, your fund’s exposure towards Islamic Corporate Securities (Sukuk) maintained at 21.89%, whereas exposure in cash stood at 59.81%.
Going forward, your fund will continue to explore Islamic investment avenues in order to provide competitive returns.

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Income & Growth Fund
FUND INFORMATION FUND RETURNS
Fund Type Open Ended (Annualized % p.a) Holding Period FIGF Benchmark
Category Aggressive Fixed Income Scheme FY20 to Date 8.76% 14.03%
Stability Rating A(f) (PACRA)
Month on Month 0.43% 13.59%
Risk Profile Medium
1 year trailing 9.14% 12.49%
Launch Date October 10, 2005
Custodian/Trustee CDC Returns (%) FY19 FY18 FY17 FY16 FY15
Auditor Deloitte Yousuf Adil, FIGF 7.81% 5.15% 4.56% 9.41% 12.14%
Chartered Accountants Benchmark 10.73% 6.69% 6.40% 6.59% 9.03%
Management Fee 1.50%
Note : Funds returns computed on Simple annualized basis / NAV to NAV
Front/Back end Load FEL up to 2% of NAV & BEL 0% Returns with dividend re-invested.
Min Subscription PKR. 5,000 • Performance data does not include cost incurred by investor in the form
Benchmark One year KIBOR rates of sales load.
Pricing Mechanism Forward
ASSET ALLOCATION (% OF TOTAL ASSETS)
Dealing Days Monday-Friday
Cut-Off Timing 9:00 am - 5:00 pm Others Others
including including
AMC Rating AM3+ (VIS) Receivables, Receivables,
NAV per Unit (PKR) 109.50 3.92% 2.52%
Cash,
Net Assets (PKR mn) 556.27 TFC/
32.91%
TFC/
Sukuk, Sukuk,
Leverage Nil 46.88% 47.65%
Cash,
Weighted Average Maturity 2.32 Yr 42.14%
Total Expense Ratio (Annualized) 2.32% Sindh worker welfare Fund excluding reversal of WWF.
TER includes 0.40% representing government levy,SECP fee and

PIBs, PIBs,
Total Expense Ratio (Absolute) 0.78% TER includes 0.14% representing government levy,SECP fee and
Sindh worker welfare Fund excluding reversal of WWF. 16.29% 7.69%

Oct’19 Sept’19
Investment Objective
Faysal Income & Growth Fund (FIGF) seeks to provide its investors with
optimal yields through a diversified portfolio consisting of both long-term ASSET QUALITY (% OF TOTAL ASSETS)
fixed instruments as well as short–term money market securities.
Government Securities 16.29%
TFCS/SUKUK HOLDINGS (% OF TOTAL ASSETS) AAA 0.05%
AA+ 0.73%
Bank Of Punjab - TFC 23-Dec-16 11.45%
AA 8.37%
JS Bank Ltd. - TFC 14-Dec-16 10.04% AA- 17.17%
Khushali Microfinance Bank - TFC 19-Mar-18 8.82% A+ 44.22%
Dawood Hercules Corporation Ltd. - Sukuk A 9.25%
01-Mar-18 7.90%
NR 3.92%
TPL Corporation Ltd. - TFC 19-Dec-17 4.70%
JS Bank Ltd. - TFC 29-Dec-17 3.97%

14.44%

14.12%
13.96%
16.00%

13.59%
13.55%

12.73%
INVESTMENT COMMITTEE
12.52%

11.94%
11.66%

14.00%
11.48%
11.42%
11.33%

11.22%
11.16%
10.51%

Mr. Khaldoon Bin Latif Chief Executive Officer

10.41%
10.03%

12.00%
9.53%
9.46%

Mr. Ayub Khuhro Chief Investment Officer

8.83%
8.57%

8.39%
8.12%

10.00%
Mr. Faisal Ali Khan CFO and Company Secretary
7.58%
6.83%

Syed Shahid Iqbal Sr. Fund Specialist - Fixed Income 8.00%

Mr. Muhammad Muzammal Fund Manager - Fixed Income 6.00%

Mr. Muhammad Akbar Latif Khan Head of Research
4.00%
Mr. Khurram Salman Head of Compliance and Internal Audit
0.43%

Mr. Mohammad Qasim Manager Risk 2.00%

Non-Compliance Disclaimer: Faysal Income & Growth Fund holds below mentioned 0.00%
non-compliant investment. Before making any investment decision, investors should review
this document and latest Financial Statements.

NON COMPLIANCE
Name of Rating Existing Required Existing Type of Value of Investment Provision Value of % of Net % of
Non-Complaint required Rating Exposure as Exposure Breach Instrument before provisioning (If any) Investment Assets Total
Investment a % of NAV as a % of NAV after
provisioning Assets
JS Bank Limited (14 Dec 2016) BBB A+ TFC 56,943,000 56,943,000 10.24%
10.00% 14.28% 4.28% - 14.01%
JS Bank Limited (29 Dec 2017) BBB A+ TFC 22,486,500 22,486,500 4.04%
The Bank of Punjab-TFC
(23-12-16) BBB AA- 10.00% 11.68% 1.68% TFC 64,944,990 - 64,944,990 11.68% 11.45%
Commercial Banks Sector - - 25.00% 25.95% 0.95% - 144,374,390 144,374,390 25.95% 25.46%

The Scheme has maintained provisions against Sindh Workers' Welfare Fund liabilty to the tune of Rs. 4,484,945 as at October 31, 2019. If the same
were not made the NAV per unit / return of the Scheme would have been higher by Rs.0.88 (0.81%). For details investors are advised to read the
Note 7.2 of the latest financial statements for the the year ended September 30, 2019.

Faysal Income and Growth Fund (FIGF) yielded an annualized return of 8.76% on year to date basis. During the month, cash allocations stood at
32.91% and exposure in TFCs was at 46.88%. Going forward, your fund will strive to maximize returns in a competitive macroeconomic landscape.

MUFAP’s recommended format

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Asset Allocation Fund
(Absolute %) Holding Period FAAF Benchmark
FY20 to Date 5.03% 3.06%
Month on Month 4.44% 4.43%
1 year trailing -11.85% -3.50%

Returns (%) FY 19 FY 18 FY 17 FY 16 FY 15
Deloitte Yousuf Adil, FAAF -20.96% -21.64% 4.67% -2.46% 16.16%
Chartered Accountants
Benchmark -7.32% -5.79% 20.73% 9.14% 13.44%
Note : Funds returns computed on absolute basis / NAV to NAV Returns
FEL up to 3% of NAV & BEL 0% with dividend re-invested.
• Performance data does not include cost incurred by investor in the form
of sales load.
KSE100 Index / 6M KIBOR

Others Others
including including
Receivables Receivables
11.85% 18.10%
AM3+ (VIS)
Equities, Equities,
44.71 54.75%
Cash
53.87%
Cash
33.40% 28.03%
Net Assets (PKR mn) 90.28

Total Expense Ratio (Annualized) 4.80% TER includes 0.52% representing government levy,SECP fee and
Sindh worker welfare Fund excluding reversal of WWF.

Total Expense Ratio (Absolute) 1.61% Sindh worker welfare Fund excluding reversal of WWF.
TER includes 0.22% representing government levy,SECP fee and

* Weighted average of 6M KIBOR & percentage invested in Equities Oct’19 Sept’19

Investment Objective
Faysal Asset Allocation Fund (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.

Oct’19 Sept’19 AAA 0.18%

Oil & Gas Exploration Companies 17.62% 14.78% AA+ 12.02%
Commercial Banks 16.53% 12.17% AA 17.79%
Fertilizer 6.98% 7.88% AA- 3.39%
Chemical 4.59% 8.00% A+ 0.01%
Oil & Gas Marketing Companies 3.33% 7.82% NR (Include Equity Investments) 66.60%
Others 5.71% 3.21%
ASSET % OF TOTAL
INVESTMENT COMMITTEE TOP TEN HOLDINGS CLASS ASSETS

Mr. Khaldoon Bin Latif Chief Executive Officer Oil & Gas Development Company Limited Equity 5.59%
Mr. Ayub Khuhro Chief Investment Officer Pakistan Oilfields Limited Equity 5.18%
Mr. Faisal Ali Khan CFO and Company Secretary Fauji Fertilizer Company Limited Equity 5.02%
Bank Alfalah Limited Equity 4.34%
Mr. Muhammad Akbar Latif Khan Head of Research
Engro Polymer & Chemicals Limited Equity 4.11%
Mr. Khurram Salman Head of Compliance and Internal Audit
Pakistan Petroleum Limited Equity 3.75%
Mr. Mohammad Qasim Manager Risk United Bank Limited Equity 3.39%
Habib Bank Limited Equity 3.35%
Non-Compliance Disclaimer: Faysal Asset Allocation Fund holds below mentioned
non-compliant investment. Before making any investment decision, investors should review Pakistan State Oil Company Limited Equity 3.33%
this document and latest Financial Statements. Mari Petroleum Company Limited Equity 3.10%

NON COMPLIANCE
Name of Rating Existing Required Existing Type of Value of Investment Provision Value of % of Net % of
Rating Exposure as Exposure Breach Instrument before provisioning (If any) Investment Assets Total
Non-Complaint required after
Investment a % of NAV as a % of NAV Assets
provisioning
Trust Investment -
BBB Withdrawn 10% - - TFC 13,137,042 13,137,042 - -
Bank Limited*
* Fully provided.

Name of non-compliant investment/Investment Limit Minimum Net Assets (Rs. In Million) Net Assets (Rs. In Million)
Faysal Asset Allocation Fund 100 90.28
The Scheme has maintained provisions against Sindh Workers' Welfare Fund liabilty to the tune of Rs. 724,988 as at October 31, 2019. If the same
were not made the NAV per unit / return of the Scheme would have been higher by Rs. 0.36 (0.80%). For details investors are advised to read the
Note 7.2 of the latest financial statements for the year ended September 30, 2019.

During the month under review your fund posted a return of 4.44% versus the benchmark return of 4.43% thus outperformance was recorded.
In the month under review your fund increased its exposure in Oil & Gas Exploration Companies and Commercial Banks, whereas profits were
booked in Fertilizers, Chemicals and in Oil & Gas Marketing Companies.

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Stock Fund
(Absolute %) Holding Period FSF Benchmark
Equity Scheme FY20 to Date 7.73% 0.89%
High
Month on Month 7.31% 6.62%
April 19, 2004
1 year trailing -18.74% -17.88%
CDC
Deloitte Yousuf Adil, Chartered Accountants Returns (%) FY19 FY18 FY17 FY16 FY15
FSF -28.24% -18.31% 14.30% 7.39% 19.83%
FEL up to 3% of NAV & BEL 0% Benchmark -19.11% -10.00% 17.32% 8.60% 12.42%
Note : Funds returns computed on absolute basis / NAV to NAV Returns
KSE 100 index with dividend re-invested.
• Performance data does not include cost incurred by investor in the form
of sales load.

Others Others
AM3+ (VIS) including Cash, including Cash,
Receivables, 14.83% Receivables, 4.98%
46.40 9.21% 11.95%

Net Assets (PKR mn) 120.57

Equities Equities
75.95% 83.07%
Total Expense Ratio (Annualized) 5.65% TER includes 0.78% representing government levy,SECP fee and
Sindh worker welfare Fund excluding reversal of WWF.

Total Expense Ratio (Absolute) 1.90% TER includes 0.32% representing government levy,SECP fee and
Sindh worker welfare Fund excluding reversal of WWF.

Oct’19 Sept’19

Investment Objective
The objective of Faysal Stock Fund (FSF) is to provide capital growth by investing primarily in a diversified pool of equities and equity related
investments. So as to diversify fund risk and to optimize potential returns.

Oct’19 Sept’19 AAA 0.10%

Commercial Banks 25.40% 23.08% AA+ 2.29%
Oil & Gas Exploration Companies 24.31% 23.23% AA 9.15%
Chemical 7.97% 13.06%
AA- 3.29%
Fertilizer 5.45% 11.02%
Pharmaceuticals 4.51% 0.00% A+ 0.01%
Others 8.31% 12.68% NR (Include Equity Investments) 85.17%

INVESTMENT COMMITTEE TOP TEN HOLDINGS (% OF TOTAL ASSETS)

Mr. Khaldoon Bin Latif Chief Executive Officer Pakistan Petroleum Limited 7.56%
Mr. Ayub Khuhro Chief Investment Officer Oil & Gas Development Company Limited 6.94%
Mr. Faisal Ali Khan CFO and Company Secretary MCB Bank Limited 6.38%
Mr. Muhammad Akbar Latif Khan Head of Research
Engro Polymer & Chemicals Limited 5.44%
Mr. Khurram Salman Head of Compliance and Internal Audit
Mari Petroleum Company Limited 5.27%
Mr. Mohammad Qasim Manager Risk
Bank Alfalah Limited 5.02%
United Bank Limited 4.57%
Pakistan Oilfields Limited 4.54%
Habib Bank Limited 3.31%
Fauji Fertilizer Company Limited 2.78%

The Scheme has maintained provisions against Sindh Workers' Welfare Fund liabilty to the tune of Rs. 1,305,554 as at October 31, 2019. If the same
were not made the NAV per unit / return of the Scheme would have been higher by Rs. 0.50 (1.08%). For details investors are advised to read the
Note 7.3 of the latest financial statements for the year ended September 30, 2019.

During Oct-19, your fund outperformed the market by posting a return of 7.31% against its benchmark of 6.62%. Fund managers took strong call
on chemical and pharmaceutical sectors and reduced exposures in Power Generation & Distribution; this lead to your fund’s outperformance.
Similarly your fund also increased holding in Oil & Gas Exploration Companies, Pharmaceuticals and Commercial Banks whereas profits were
booked in Fertilizer and Chemical sectors.

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Islamic Asset Allocation Fund
FUND INFORMATION FUND RETURNS
Fund Type Open Ended (Absolute %) Holding Period FIAAF Benchmark
Category Shariah Compliant Asset Allocation Scheme FY20 to Date 3.69% 2.52%
Risk Profile Moderate to High Risk
Month on Month 6.66% 4.53%
Launch Date September 9, 2015
Custodian/Trustee CDC
1 year trailing -13.78% -10.54%
Auditor EY Ford Rhodes,
Returns (%) FY19 FY18 FY17 FY16 FY15
Chartered Accountants
FIAAF -19.46% -19.77% 23.04% -4.02% -
Management Fee 2%
Benchmark -13.17% -5.24% 15.40% 14.45% -
Front end Load Up to 3% of NAV
Note : Funds returns computed on absolute basis / NAV to NAV Returns
Back end Load Back end - 0 % with dividend re-invested.
Min Subscription PKR. 5,000 • Performance data does not include cost incurred by investor in the form
Benchmark* KMI- 30 Index/6M Deposit rate for A & above of sales load.
rated Islamic Banks
ASSET ALLOCATION (% OF TOTAL ASSETS)
Pricing Mechanism Forward
Dealing Days Monday-Friday Others Others
including including
Cut-Off Timing 9:00 am - 5:00 pm Receivables Receivables
Sukuk, 5.39% Sukuk, 8.87%
AMC Rating AM3+ (VIS)
12.85% 13.95%
Cash Cash
NAV per Unit (PKR) 66.95 41.17% 26.23%
Net Assets (PKR mn) 147.80
Leverage Nil
Total Expense Ratio (Annualized) 4.45% TER includes 0.51% representing government levy,SECP fee and
Sindh worker welfare Fund.
Equities Equities
Total Expense Ratio (Absolute) 1.50% Sindh worker welfare Fund excluding reversal of WWF.
TER includes 0.17% representing government levy,SECP fee and
40.59% 50.95%
* Weighted Average Daily Return of KMI-30 Index & 6M Deposit Rate of A & above rated Islamic
Banks or Islamic windows of Scheduled Commercial Banks.
Oct’19 Sept’19

Investment Objective Oct’19 Sept’19

The objective of Faysal Islamic Asset Allocation Fund (FIAAF) is to earn Oil & Gas Exploration Companies 23.54% 22.05%
competitive riba free return by investing in various Shariah compliant Chemical 6.35% 11.73%
asset classes/instruments based on the market outlook and may easily Commercial Banks 4.42% 5.05%
change allocation to take advantage of directional macro and micro Oil & Gas Marketing Companies 2.67% 5.91%
economic trends and undervalued stocks. Fertilizer 1.52% 4.92%
Others 2.08% 1.29%
ASSET QUALITY (% OF TOTAL ASSETS)
ASSET % OF TOTAL
AA+ 17.71% TOP TEN HOLDINGS CLASS ASSETS
AA 2.45%
Hub Power Company Limited - Sukuk (9M) Sukuk 12.85%
A+ 33.74%
A 0.12% Mari Petroleum Company Limited Equity 7.19%
NR (Include Equity Investments) 45.98% Oil & Gas Development Company Limited Equity 5.62%
Engro Polymer & Chemicals Limited Equity 5.50%
INVESTMENT COMMITTEE Pakistan Petroleum Limited Equity 5.50%
Mr. Khaldoon Bin Latif Chief Executive Officer Pakistan Oilfields Limited Equity 5.24%
Mr. Ayub Khuhro Chief Investment Officer Meezan Bank Limited Equity 4.42%
Mr. Faisal Ali Khan CFO and Company Secretary
Engro Corporation Limited Equity 1.52%
Mr. Muhammad Akbar Latif Khan Head of Research
Pakistan State Oil Company Limited Equity 1.48%
Mr. Khurram Salman Head of Compliance and Internal Audit
Mr. Mohammad Qasim Manager Risk Sui Northern Gas Pipelines Limited Equity 1.16%

The Scheme has maintained provisions against Sindh Workers' Welfare Fund liabilty to the tune of Rs. 1,583,698 as at October 31, 2019. If the same
were not made the NAV per unit / return of the Scheme would have been higher by Rs. 0.72 (1.07%). For details investors are advised to read the
Note 7.2 of the latest financial statements for the year ended September 30, 2019.

During the month under review your fund significantly outperformed the benchmark by 2.13% and posted a return of 6.66% versus its benchmark
return of 4.53%.The out performance was recorded due to overweight stance on chemicals which rallied and outperformed the market; further
portfolio protection came from having an underweight stance on Power Generation & Distribution sector which underperformed the index.
In the month under review your fund increased its exposure in Oil & Gas Exploration Companies, whereas profits were booked in Fertilizers, Chemi-
cals and in Oil & Gas Marketing Companies.

MUFAP’s recommended format

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal MTS Fund
FUND INFORMATION FUND RETURNS
Fund Type Open Ended (Annualized % p.a) Holding Period FMTSF Benchmark
Category Income Scheme FY20 to Date 13.16% 13.80%
Rating “A+” f (PACRA) Month on Month 13.46% 13.61%
Risk Profile Moderate 1 year trailing 11.30% 12.06%
Launch Date April 8, 2016
Custodian/Trustee CDC Returns (%) FY19 FY18 FY17 FY16 FY15
Auditor EY Ford Rhodes, FMTSF 9.04% 5.63% 6.14% 5.96% -
Chartered Accountants
Benchmark 10.21% 6.35% 6.10% 5.51% -
Management Fee 1.00% Note : Funds returns computed on Simple annualized basis / NAV to NAV
Front/Back end Load FEL up to 2% of NAV & BEL 0% Returns with dividend re-invested.
• Performance data does not include cost incurred by investor in the form
Min Subscription PKR. 5,000 of sales load.
Benchmark Six months KIBOR rates
ASSET ALLOCATION (% OF TOTAL ASSETS)
Pricing Mechanism Forward
Margin
Dealing Days Monday-Friday Others Trading Others
including System including
Cut-Off Timing 9:00 am - 5:00 pm Receivables (MTS) Receivables
2.10% 1.20%
PIBs, 6.36%
AMC Rating AM3+ (VIS) 2.76%
NAV per Unit (PKR) 105.27 Margin
Cash T-Bills Cash
Trading 6.29%
Net Assets (PKR mn) 814.27 System 36.17% 83.38%
(MTS)
Leverage Nil 39.28%
T-Bills
Weighted Average Maturity 0.07 Yr 16.82%
Total Expense Ratio (Annualized) 1.90% TER includes 0.42% representing government levy,SECP fee and
Sindh worker welfare Fund. PIBs,
5.63%
Total Expense Ratio (Absolute) 0.64% Sindh worker welfare Fund excluding reversal of WWF.
TER includes 0.14% representing government levy,SECP fee and
Oct’19 Sept’19

Investment Objective
The objective of Faysal MTS Fund (FMTSF) is to provide competitive returns primarily through investment to MTS market.

ASSET QUALITY (% OF TOTAL ASSETS)

Government Securities 22.45% Benchmark
Government Guaranteed 0.00% FMTSF
AAA 0.10%
16.00%

14.07%
14.07%

13.96%
AA+ 1.92%

13.61%
13.55%

13.46%
13.05%

12.84%
AA 0.67% 14.00%
12.05%

11.45%
11.25%

AA- 33.49%
11.02%
10.90%
10.86%
10.76%
10.63%

12.00%
10.16%
10.05%

MTS (Unrated) 39.28%

9.90%
9.89%
9.86%

9.66%
9.44%

8.76%

NR 2.10% 10.00%
7.69%
7.14%

8.00%

INVESTMENT COMMITTEE 6.00%

Mr. Khaldoon Bin Latif Chief Executive Officer

4.00%
Mr. Ayub Khuhro Chief Investment Officer
Mr. Faisal Ali Khan CFO and Company Secretary 2.00%

Syed Shahid Iqbal Sr. Fund Specialist - Fixed Income 0.00%

Mr. Muhammad Muzammal Fund Manager - Fixed Income
Mr. Muhammad Akbar Latif Khan Head of Research
Mr. Khurram Salman Head of Compliance and Internal Audit Non-Compliance Disclaimer: Faysal MTS Fund holds below mentioned non-compliant
investment. Before making any investment decision, investors should review this document
Mr. Mohammad Qasim Manager Risk and latest Financial Statements.

NON COMPLIANCE
Name of non-compliant investment/Investment Limit Exposure Limit Range Actual Holding
Margin Trading System*
70%-90% 21.15%
* Minimum 70% has to be maintained based on quarterly average investment calculated on daily basis.

The Scheme has maintained provisions against Sindh Workers' Welfare Fund liabilty to the tune of Rs. 2,334,900 as at October 31, 2019. If the same
were not made the NAV per unit / return of the Scheme would have been higher by Rs. 0.30 (0.29%). For details investors are advised to read the
Note 14.2 of the latest financial statements for the year ended September 30, 2019.

Faysal MTS Fund (FMTSF) yielded an annualized return of 13.46% on month-on-month basis, relative to its benchmark of 13.61%. At month end MTS exposure
declined to 39.28% due to lower volumes in MTS market. In near future, investors’ confidence will primarily derive the yield of your fund.

MUFAP’s recommended format

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Sharia Capital Preservation Plan
(UNDER FAYSAL SHARIA PLANNING FUND)

FUND INFORMATION FUND RETURNS

Fund Type Open Ended (Absolute %) Holding Period FSCPP Benchmark
Category Shariah Compliant Fund of Funds - CPPI FY20 to Date 3.46% 1.96%
Risk Profile Low to Moderate Month on Month 0.90% 0.53%
Launch Date July 09, 2019 1 year trailing N/A N/A
Custodian/Trustee CDC
Auditor EY Ford Rhodes,Chartered Accountants
Returns (%) FY19 FY18 FY17 FY16 FY15
1.5% on AUM or if investment made in CIS FSCPP - - - - -
Management Fee
Underlying Fund fee will be applicable Benchmark - - - - -
Front end Load Up to 3%
For First Year 2% Note : Funds returns computed on Simple annualized basis / NAV to NAV
Contingent Load Returns with dividend re-invested.
For Second Year 1%
• Performance data does not include cost incurred by investor in the form of
Min Subscription PKR. 1,000 sales load.
Pricing Mechanism Forward
Weighted average return of KMI 30 index and ASSET ALLOCATION (% OF TOTAL ASSETS)
6-months deposit rate of (Three)3 A rated
Benchmark*
Scheduled Islamic Banks or Islamic window of Others Others
conventional banks including including
Receivables Receivables
Dealing Days Monday-Friday 4.88% 2.93%

Cut-Off Timing 9:00 am - 5:00 pm

AMC Rating AM3+ (VIS)
NAV per Unit (PKR) 100.17
Net Assets (PKR mn) 1,060.04 Cash Cash
95.12% 97.07%
Leverage Nil
Total Expense Ratio (Annualized) 2.08% TER includes 0.45% representing government levy,SECP fee and
Sindh worker welfare Fund.
Oct’19 Sept’19
Total Expense Ratio (Absolute) 0.65% Sindh worker welfare Fund excluding reversal of WWF.
TER includes 0.14% representing government levy,SECP fee and

* Based on actual proportion of investment in Islamic Equity,Islamic Income/Money Market

Scheme and bank deposit made by the allocation plan.

Investment Objective
The “Faysal Sharia Capital Preservation Plan” is an Islamic Plan under “Faysal Sharia Planning Fund” with an objective to earn a
potentially competitive return through dynamic asset allocation between Islamic income/Money market, Islamic equity Collective
Investment Scheme and Islamic Banks deposit by using CPPI methodology, while aiming to providing Capital Preservation of the
Initial Investment Value at maturity of the plan based on the Fund Manager’s outlook on the assets classes.

INVESTMENT COMMITTEE
Mr. Khaldoon Bin Latif Chief Executive Officer
Mr. Ayub Khuhro Chief Investment Officer The Scheme has maintained provisions against Sindh Workers' Welfare
Mr. Faisal Ali Khan CFO and Company Secretary Fund liabilty to the tune of Rs. 744,370 as at October 31, 2019. If the same
were not made the NAV per unit / return of the Scheme would have been
Syed Shahid Iqbal Sr. Fund Specialist - Fixed Income
higher by Rs. 0.07 (0.07%). For details investors are advised to read the
Mr. Muhammad Muzammal Fund Manager - Fixed Income Note 7.1 of the latest financial statements for the year ended September 30,
Mr. Muhammad Akbar Latif Khan Head of Research 2019.
Mr. Khurram Salman Head of Compliance and Internal Audit
Mr. Mohammad Qasim Manager Risk

Faysal Shariah Capital Preservation Plan (FSCPP) yielded cumulative return of 3.46% on FYTD basis relative to its benchmark of 1.96%. During the month
your fund remained 95.12% invested in cash and the maximum and minimum multipliers stood at zero. Going forward, fund management will allocate the
funds in different high yielding avenues.

MUFAP’s recommended format

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Sharia Capital Preservation Plan-II
(UNDER FAYSAL SHARIA PLANNING FUND)

FUND INFORMATION FUND RETURNS

Fund Type Open Ended (Absolute %) Holding Period FSCPP-II Benchmark
Category Shariah Compliant Fund of Funds - CPPI FY20 to Date 1.05% 0.58%
Risk Profile Low to Moderate Month on Month 0.96% 0.53%
Launch Date September 27, 2019 1 year trailing N/A N/A
Custodian/Trustee CDC
Auditor EY Ford Rhodes,Chartered Accountants
Returns (%) FY19 FY18 FY17 FY16 FY15
1.5% on AUM or if investment made in CIS FSCPP-II - - - - -
Management Fee
Underlying Fund fee will be applicable Benchmark - - - - -
Front end Load Up to 3%
For First Year 2% Note : Funds returns computed on Simple annualized basis / NAV to NAV
Contingent Load Returns with dividend re-invested.
For Second Year 1%
• Performance data does not include cost incurred by investor in the form of
Min Subscription PKR. 1,000 sales load.
Pricing Mechanism Forward
Weighted average return of KMI 30 index and ASSET ALLOCATION (% OF TOTAL ASSETS)
6-months deposit rate of (Three) 3 A rated
Benchmark*
Scheduled Islamic Banks or Islamic window of Others Others
conventional banks including including
Receivables Receivables
Dealing Days Monday-Friday 1.20% 0.11%

Cut-Off Timing 9:00 am - 5:00 pm

AMC Rating AM3+ (VIS)
NAV per Unit (PKR) 101.05
Net Assets (PKR mn) 1,164.16 Cash Cash
98.80% 99.89%
Leverage Nil
Total Expense Ratio (Annualized) 2.10% TER includes 0.05% representing government levy,SECP fee and
Sindh worker welfare Fund.

Total Expense Ratio (Absolute) 0.19% Sindh worker welfare Fund excluding reversal of WWF.
TER includes 0.04% representing government levy,SECP fee and Oct’19 Sept’19

* Based on actual proportion of investment in Islamic Equity,Islamic Income/Money Market

Scheme and bank deposit made by the allocation plan.

Investment Objective
The “Faysal Sharia Capital Preservation Plan-II” is an Islamic Plan under “Faysal Sharia Planning Fund” with an objective to earn a
potentially competitive return through dynamic asset allocation between Islamic income/Money market, Islamic equity Collective
Investment Scheme and Islamic Banks deposit by using CPPI methodology, while aiming to providing Capital Preservation of the
Initial Investment Value at maturity of the plan based on the Fund Manager’s outlook on the assets classes.

INVESTMENT COMMITTEE
Mr. Khaldoon Bin Latif Chief Executive Officer
The Scheme has maintained provisions against Sindh Workers' Welfare
Mr. Ayub Khuhro Chief Investment Officer
Fund liabilty to the tune of Rs. 247,162 as at October 31, 2019. If the same
Mr. Faisal Ali Khan CFO and Company Secretary were not made the NAV per unit / return of the Scheme would have been
Syed Shahid Iqbal Sr. Fund Specialist - Fixed Income higher by Rs. 0.002 (0.02%). For details investors are advised to read the
Mr. Muhammad Muzammal Fund Manager - Fixed Income Note 7.1 of the latest financial statements for the year ended September 30,
Mr. Muhammad Akbar Latif Khan Head of Research 2019.
Mr. Khurram Salman Head of Compliance and Internal Audit
Mr. Mohammad Qasim Manager Risk

Faysal Shariah Capital Preservation Plan II yielded cumulative return of 1.05% on FYTD basis relative to its benchmark of 0.58%. During the month your fund
remained 98.80% invested in cash and the maximum and minimum multipliers stood at zero. Going forward, fund management will allocate the funds in
different high yielding avenues.

MUFAP’s recommended format

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
Faysal Halal Amdani Fund
FUND INFORMATION FUND RETURNS
Fund Type Open Ended (Absolute %) Holding Period FHAF Benchmark
Category Shariah Compliant Money Market Scheme FY20 to Date 11.20% 5.80%
Risk Profile Low Month on Month 11.20% 5.80%
Launch Date October 10, 2019 1 year trailing N/A N/A
Custodian/Trustee CDC
Auditor A.F Ferguson & Co.
Returns (%) FY19 FY18 FY17 FY16 FY15
5% of the gross earnings subject to a minimum FHAF - - - - -
of 0.30% and not exceeding 0.80% of average Benchmark - - - - -
Management Fee
Annual Assets of the scheme, calculated on a
daily basis. Note : Funds returns computed on Simple annualized basis / NAV to NAV
Returns with dividend re-invested.
Front / Back End Load Nil
• Performance data does not include cost incurred by investor in the form of
Minimum Investment PKR. 5,000/- sales load.
Pricing Mechanism Forward

Three (3) months average deposit rates of three

Benchmark AA rated Islamic Banks or Islamic windows of ASSET ALLOCATION (% OF TOTAL ASSETS)
Conventional Banks as selected by MUFAP.
Others
Dealing Days Monday-Friday including
Receivables
1.41%
Cut-Off Timing 9:00 am - 5:00 pm
AMC Rating AM3+ (VIS)
NAV per Unit (PKR) 100.6445
Net Assets (PKR mn) 127.92
Leverage Nil Cash
98.59%
Weighted Average Maturity 1 day
Total Expense Ratio (Annualized) 1.54% TER includes 0.34% representing government levy,SECP fee and
Sindh worker welfare Fund.
Oct’19
Total Expense Ratio (Absolute) 0.09% Sindh worker welfare Fund excluding reversal of WWF.
TER includes 0.02% representing government levy,SECP fee and

Investment Objective
The objective of Faysal Halal Amdani Fund is to provide competitive rate of return with maximum possible preservation of capital
by investing in liquid and low risk Shariah Compliant bank deposits, money market & debt securities.

INVESTMENT COMMITTEE Benchmark

FHAF

11.20%
Mr. Khaldoon Bin Latif Chief Executive Officer
12.00%
Mr. Ayub Khuhro Chief Investment Officer
10.00%
Mr. Faisal Ali Khan CFO and Company Secretary
8.00%
Syed Shahid Iqbal Sr. Fund Specialist - Fixed Income
5.80%
Mr. Muhammad Muzammal Fund Manager - Fixed Income 6.00%

Mr. Muhammad Akbar Latif Khan Head of Research 4.00%

Mr. Khurram Salman Head of Compliance and Internal Audit 2.00%

Mr. Mohammad Qasim Manager Risk 0.00%

AA 98.59%
NR 1.41%

The Scheme has maintained provisions against Sindh Workers' Welfare Fund liabilty to the tune of Rs. 16,724 as at October 31, 2019. If the same were not
made the NAV per unit / return of the Scheme would have been higher by Rs. 0.001 (0.01%).

Faysal Halal Amdani Fund (FHAF) yielded an annualized return of 11.20% on year to date basis. During the month, cash allocations stood at 98.59%. Going
forward, fund management is in negotiations with commercial banks for a better daily product rate.

MUFAP’s recommended format

Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in
mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns 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
risks involved.
 SINCE INCEPTION HISTORICAL RETURNS (ANNUALIZED %)
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19
7.73% 6.18% 10.12% 9.81% 10.06% 10.00% 10.50% 10.37% 10.20% 10.39% 10.30% 9.81% 9.45% 9.33%
Benchmark 9.34% 9.86% 10.08% 11.07% 11.34% 11.66% 11.74% 11.51% 11.33% 11.10% 10.68% 10.32% 10.03% 10.08%

9.04% 9.68% 10.20% 9.72% 9.30% 9.12% 8.59% 8.18% 7.75% 7.76%
Benchmark 7.70% 8.27% 8.42% 8.14% 7.89% 7.68% 7.24% 6.72% 6.23% 5.98%

10.42% 10.19% 11.04% 11.02% 11.02% 11.04% 10.70% 10.46% 10.72% 10.42% 10.01% 9.57% 9.42%
Benchmark 9.39% 9.76% 10.95% 11.32% 11.72% 11.82% 11.54% 11.32% 10.79% 10.35% 9.96% 9.65% 9.69%

11.20% 11.09% 10.41% 9.89% 9.64% 8.97% 8.70% 8.26% 8.33%

Benchmark 10.18% 10.08% 9.49% 9.23% 8.93% 8.32% 7.88% 7.56% 7.69%

9.12% 8.26% 7.87% 7.21% 6.74% 7.08%

Benchmark 8.96% 8.59% 7.68% 7.28% 7.09% 7.61%

FMTSF 5.96% 6.05% 5.91% 6.68%

Benchmark 5.51% 5.80% 5.99% 7.03%
Note : Funds returns computed on Simple annualized basis / NAV to NAV Returns with dividend re-invested.
• Performance data does not include cost incurred by investor in the form of sales load.

SINCE INCEPTION HISTORICAL RETURNS (ABSOLUTE %)

FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19
FSF 25.86% 52.49% 52.35% 15.79% 41.25% 55.35% 48.06% 76.42% 102.33% 142.46% 160.37% 197.60% 143.12% 74.46%
Benchmark 34.08% 84.86% 80.25% 50.64% 87.36% 126.41% 152.65% 230.21% 307.91% 358.58% 398.01% 484.27% 425.87% 325.37%

30.70% 57.60% 57.57% 89.49% 121.72% 157.55% 151.22% 162.95% 106.06% 62.86%
Benchmark 24.07% 49.13% 66.46% 123.77% 191.38% 230.54% 260.75% 335.53% 310.31% 280.26%

-4.02% 18.10% -5.26% -23.69%

Benchmark 14.45% 32.10% 25.15% 8.67%

Note : Funds returns computed on absolute basis / NAV to NAV Returns with dividend re-invested.
• Performance data does not include cost incurred by investor in the form of sales load.

Faysal Asset Management Ltd. Karachi Lahore Islamabad faysalfunds.com

West Wing, 7th floor, Faysal House, ST- 02, 92 21 111329725 92 42 35787836 92 51 5562167/74 facebook.com/faysalfunds
Shahrah-e-Faisal, Karachi-Pakistan. 92 21 38657800 twitter.com/faysalasset

Rating by VIS

AM3+
(Good Quality Management)
 Subsidiary of

Another Step Towards Excellence

*Source: MUFAP As of 31 October 2019.

Rating by VIS
UAN: 021-111329725, Ext.7869-72, Available on Social Media

AM3+
To Invest:
Tel: 021-38657869-72
SMS “INVEST”
E-mail: customerservices@faysalfunds.com
to 9182 Website: www.faysalfunds.com (Good Quality Management)
 Also Available at Branches of Faysal Bank Limited

Faysal Bank Limited Faysal Bank Limited Faysal Bank Limited

310-Upper Mall, Shahrah-e- 326 Z- Block, Phase III, DHA, 43-C KHY-E-Shabaz Phase VI DHA
Quaid-e-Azam, Lahore. (331) Lahore.(462) 042-35725903-904 Karachi. (3031) 021-35342366
042-111-11-22-33

Faysal Bank Limited Faysal Bank Limited

Faysal Bank Limited 4 /5 Haroon Plaza, Cavalry Ground, Shop No. 08,09, Al Haram Tower 1,
15, F-7 Markaz, Opposite Fg College Lahore. (334) 042-36655590 Jamal uddin Afghani Road, BMCHS,
For Women, F-7/2, Islamabad. (332) Sharfabad, Karachi. (3001)
051-111-11-22-33 021-34860997-8
Faysal Bank Limited
D-4, Block D North Nazimabad,
Faysal Bank Limited Karachi. (342). 021-36721600-4 Faysal Bank Limited
16-Abdullah Haroon Road, Karachi. 43,Shahrah-e-Quaid-e-Azam, Lahore.
(330) 021 -111-11-22-33 (112) 042-37236014-8
Faysal Bank Limited
SB-25, Block 13/C, Main University
Faysal Bank Limited Road, Gulshan e Iqbal, Karachi. (335)
Garrison Officers Mess 12, Tufail Road, 021 -34830110
Lahore Cantt, Lahore. (282)
042-36604909-14
Faysal Bank Limited
72-A/Z, Block 7/8, Al- Riaz, Karachi.
Faysal Bank Limited (333) 021-111-321-321
Bilal Road ,Civil Lines, Faisalabad.
(111) 041-2644481-85
Faysal Bank Limited
Shop No. 1-4, Ground Floor, Sana
Faysal Bank Limited Arcade, Plot No., ZC-6, Block No. 7,
129/1,Old Bahawalpur Road, Multan. K.D.A Scheme 24, Karachi. (153)
(133) 061-4783391 021-3481 5319

Faysal Bank Limited Faysal Bank Limited

15-West, Jinnah Avenue Blue Area, Iqbal Arcade, Plot No. 6,3/7, D.M.C
Islamabad. (113) 051-2275096-9 Society, Karachi. (127)
021-34388104-105-106

Faysal Bank Limited Faysal Bank Limited

5Th Road, City Shopping Centre, B -35, Block 13-A, Main University
Commercial Market, Satellite Town Road, Gulshan-e-Iqbal, Karachi. (119)
Rawalpindi. 021-3499 4262-3
(135) 051-4424969-72

Faysal Bank Limited

Faysal Bank Limited Faysal House,St- 02 Main
32-A, Ground Floor, Quality Heights, Shahra-e-Faisal, Karachi. (110)
K.D.A Scheme No. 5, Clifton Block-8, 021-111-747-747
Karachi. (118) 021-35863772-74-75

Faysal Bank Limited

Faysal Bank Limited IBB Plot No . 5/A sector C Bahria
Plot No. 339, Main Bohra Bazar Town, Lahore.(3051) 042-35452054-58
Saddar, Hyderabad. (138)
022-2728356-59 Faysal Bank Limited
13-C,Square Model Town, Lahore.
(150) 042-35884705-07
Faysal Bank Limited
State Life Building No. 11, Abdullah
Haroon Road, Karachi. (422) Faysal Bank Limited
021-35652099 Nadir House, I. I. Chundrigar Road,
Karachi. (424) 021-32418300-1

Faysal Bank Limited Faysal Bank Limited

Business Avenue Centre, Block No. 6, Speedy Towers, 129/I & II, Main
P.E.C.H.S, Karachi. (131) Korangi Road, Phase I DHA
021-34315634-37 Karachi. (3400) 021-35311444

Faysal Asset Management Ltd. Karachi Lahore Islamabad faysalfunds.com

West Wing, 7th floor, Faysal House, ST- 02, 92 21 111329725 92 42 35787836 92 51 5562167/74 facebook.com/faysalfunds
Shahrah-e-Faisal, Karachi-Pakistan. 92 21 38657800 twitter.com/faysalasset