IGI Life Insurance Limited

IGI|Life

Funds Performance ReportJune 2019

July 2015

Source: SBP, PBS, Bloomberg

Equity Market Review and Outlook:

FUND MANAGER REPORT

For the month of June 2019

Macro Review and Outlook:Year end inflation Headline inflation at +8.9%Domestic inflation continued to creep with latest Jun-19 headline inflation printing a +8.9%YoY growth compared to +5.2% last year, bringing FY19 +7.32% (+3.93% last year same period). Key price drivers during the month are; a) tranport index up by +15%YoY; b) house rent index up by +6.35%YoY and b) +5.5%YoY increase in education index C/a deficit finally started to recede imports growth slows downOn external front, country’s current account (C/a) deficit narrowed to USD 1.1bn for the month of May-19 (USD 1.2bn in Apr-19), taking 11MFY19 C/a deficit to USD 11.9bn from USD 15.5bn last year; a 30% decline. A bifurcation of current deficit shows country’s export remained static at USD 2.1 bn, while on a cumulative basis inched down by a mere 1% to USD 2.4bn. Imports, however, dropped by 14% YoY to USD 4.2bn for the month of May-19, taking total imports for 11MFY19 to USD 53bn, depicting a decline of 4%YoY. Hence, trade deficit sequeezed by 7%YoY to USD 28.7bn. Remittances for the month of May-19 increased by +30%MoM to USD 2.3bn, adding up to USD 21bn (+10%YoY) for the 11-month period. In addition, country’s foreign direct investments (FDI) during the period declined by 16% to USD 2.53 bn while on a monthly basis are up by +3.01xYoY.

CPI Inflation

External Account

Macroeconomic weakness kept bourse performance edgyDuring Jun-19 local bourse (KSE100) observed a drop 5.8%MoM (2,075 points) with the index closing at 33,900. This took the CY19TD / FY19TD return to -16.9% / -20.6%. Factors attributed to dismal performance of the market pertained to a) volatitily in exchange rate (7.4%), b) high inflation (8.82%) and c) proposed budgetary measures (FY19-FY20) Volumes declined during Jun-19Average volumes during the month jumped up by +19% MoM to 135mn shares along with average valued traded which witnessed an increase of meager 1% to USD 45.8mn. Sector wise major foreign outflow was witnessed in Oil and Gas Exploration (USD 10.9mn), followed by fertilizers (USD 2.5mn). Banks and Cements received net inflow of USD 5.7mn and 3.1mn, respectively. Sectoral PerformanceSector wise Oil and Gas Exploration, Refineries, Fertilizers, Cements & Banks were the major laggards generating negative returns of 7.8%/22.1%/14.4%/4.17%/6.3%/7% respectively. Fertilizers declined due to proposal of gas price hike while weak pricing dynamics pushed Cements in the negative territory. Banks also showed dismal performance with the implementation of Treasury Single Account as per the Finance Act (FY19-20). Moreover, inventory losses stemming from increase in international oil prices and PKR depreciation protrayed negatively for OMCs. Other key developments during the month includes - Proposal of electricity and gas price hike (170%)- Govt expected to float PKR 200bn Sukkuk bond to curb circular debt - Qatar to deposit USD 3bn for direct investments

KSE 100

Foreign Activity

Money Market Review and Outlook:A healthy participation in Jun-19During the month of Jun-19, SBP conducted two T-bill auctions with a cumulative target of PKR 1.1trn against maturity of PKR 26bn. The total accepted amount was PKR 103.9bn.The cut-off yields remained flat at 12.75% for the 3M tenor agsinst the accepted amount of PKR 103.5bn. SBP also conducted Fixed PIB auction on 26th Jun 2019 with a target of PKR100bn against maturity of PKR 18.6bn. Cumulative participation of PKR 190bn was received in 3Y, 5Y and 10Y tenors. The government accepted PKR 2.1bn, PKR 23.3bn and PKR 70.3bn in the 3, 5 and 10 year tenors respectively. The cut off yields for the tenors were 13.7%, 13.8% and 13.7% respectively showing an inverted yield curve due to demand from the corporates in 10 years. In the floating rate PIB auction the government accepted PKR 15bn and set spread at cut-off of 75bps over benchmark which was 5bps higher than the previous cut-off. During the last week there was a net injection of PKR 796.2bn through Open market operations.

Yield Curve

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 270.6                  282.8                  ‐4.30%

Net Assets Value (PKR '000) 640,059              642,151              ‐0.33%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

IGI Aggressive Fund ‐ IAF ‐4.30% ‐5.15% ‐8.52% ‐3.42% ‐10.69% ‐6.90% 9.31%

During the month the fund generated an

absolute return of ‐4.30% against its last

month absolute return of ‐0.89%. 

Value of 100 Rupees invested 5 years ago

Fixed Income / Equity

IGI Aggressive Fund‐IAF

For the month of June 2019

INVESTMENT OBJECTIVE:To provide investors with an opportunity to earn long‐term capital appreciation optimizing through broad mix of asset classes largely driven by equity

with a proportion of fixed income & money market instruments.

FUND INFORMATION: RETURNS:

High

Daily Forward Pricing

Monday to Friday

1.5%

25‐Apr‐08

ASSETS UNDER MANAGEMENT:

IGI Aggressive Fund ‐ IAF BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

303.04306.59

303.86 301.76307.81

300.90

280.22

302.23297.12 295.82

285.34 282.80

270.63

268.00

278.00

288.00

298.00

308.00

318.00

328.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

7.4%0.4%

24.8%

66.4%

1.0%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

8.3%

24.8%

65.7%

1.2%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

98

148

198

248

298

348

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 269.1                  273.2                  ‐1.49%

Net Assets Value (PKR '000) 715,424              709,247              0.87%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

IGI Balanced Fund ‐ IBF ‐1.49% ‐1.53% ‐2.71% 1.90% ‐2.39% 3.84% 9.25%

During the month the fund generated an

absolute return of ‐1.49% against its last

month absolute return of ‐0.03%. 

Value of 100 Rupees invested 5 years ago

Fixed Income / Equity

IGI Balanced Fund‐IBF

For the month of June 2019

INVESTMENT OBJECTIVE:The investment objective of the Fund is to earn competitive long term return by investing in mix of equity, fixed income and money market instrument.

This fund is suited for investors with moderate risk tolerance.

FUND INFORMATION: RETURNS:

Moderate

Daily Forward Pricing

Monday to Friday

1.5%

25‐Apr‐08

ASSETS UNDER MANAGEMENT:

IGI Balanced Fund ‐ IBF BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

4.1%

25.0%

40.1%

30.4%

0.4%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

5.5%

24.8%

39.5%

29.6%

0.5%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

98

118

138

158

178

198

218

238

258

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

275.70278.28

276.98 276.08

280.30

275.99

264.09

278.02276.47 276.60

273.28 273.20

269.11

255.00

260.00

265.00

270.00

275.00

280.00

285.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 218.5                  216.8                  0.76%

Net Assets Value (PKR '000) 561,763              563,055              ‐0.23%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

IGI Conservative Fund ‐ ICF 0.76% 1.44% 2.09% 5.63% 6.70% 11.34% 7.23%

During the month the fund generated an

absolute return of 0.76% against its last

month absolute return of 0.67%. 

Value of 100 Rupees invested 5 years ago

Fixed Income / Equity

IGI Conservative Fund ‐ ICF

For the month of June 2019

INVESTMENT OBJECTIVE:To provide stable and competitive returns in line with the money markets exhibiting low volatility consistent with capital preservation by constructing a

liquid portfolio of low risk short term investments yielding competitive returns.

FUND INFORMATION: RETURNS:

Low

Daily Forward Pricing

Monday to Friday

1.5%

25‐Apr‐08

ASSETS UNDER MANAGEMENT:

IGI Conservative Fund ‐ ICF BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

0.9% 0.0%

39.8%

0.0%

56.4%

2.9% 0.0%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

0.7%

40.1%

56.3%

2.8%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

98

108

118

128

138

148

158

168

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

204.75205.80 206.35 206.93

208.62 207.83206.83

210.32

212.41213.99

215.36216.81

218.47

200.00

205.00

210.00

215.00

220.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 161.8                  161.8                  0.03%

Net Assets Value (PKR '000) 220,342              220,697              ‐0.16%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

IGI Islamic Fund ‐ IIF 0.03% 0.78% 1.39% 3.45% 6.60% 6.96% 4.39%

During the month the fund generated an

absolute return of 0.03% against its last

month absolute return of 0.75%. 

Value of 100 Rupees invested 5 years ago

Islamic  Fixed Income

IGI Islamic Fund ‐ IIF

For the month of June 2019

INVESTMENT OBJECTIVE: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.

FUND INFORMATION: RETURNS:

Low

Daily Forward Pricing

Monday to Friday

1.5%

25‐Apr‐08

ASSETS UNDER MANAGEMENT:

IGI Islamic Fund ‐ IIF BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

57.5%

27.7%

4.0%10.8%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

53.0%

26.0%

6.5%14.5%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

80

100

120

140

160

180

200

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

151.80 152.43153.15

153.84154.61

155.42156.41

157.45158.51

159.59160.56

161.76 161.81

148.00

150.00

152.00

154.00

156.00

158.00

160.00

162.00

164.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 364.0                  377.5                  ‐3.57%

Net Assets Value (PKR '000) 24,398                24,450                ‐0.21%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

IGI FS Aggressive Fund ‐ IHA ‐3.57% ‐4.43% ‐7.78% ‐1.94% ‐9.74% ‐3.91% 14.82%

During the month the fund generated an

absolute return of ‐3.57% against its last

month absolute return of ‐0.89%. 

Value of 100 Rupees invested 5 years ago

Fixed Income / Equity

IGI FutureSecure Adventurous Fund‐ IHA

For the month of June 2019

INVESTMENT OBJECTIVE: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.

FUND INFORMATION: RETURNS:

High

Daily Forward Pricing

Monday to Friday

1.5%

25‐Feb‐10

ASSETS UNDER MANAGEMENT:

IGI FutureSecure Aggressive Fund ‐ IHA BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

9.3%2.3%

31.0%

56.6%

0.9%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

10.2%2.0%

30.8%

56.0%

1.0%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

95

145

195

245

295

345

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

403.30408.60

404.53401.60

410.56

400.68

371.22

402.99396.21 394.74

380.89377.50

364.02

350.00

360.00

370.00

380.00

390.00

400.00

410.00

420.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 240.3                  243.8                  ‐1.45%

Net Assets Value (PKR '000) 153,054              149,897              2.11%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

IGI FS Balanced Fund ‐ IHB ‐1.45% ‐1.48% ‐2.81% 1.97% ‐2.45% 3.96% 9.81%

During the month the fund generated an

absolute return of ‐1.45% against its last

month absolute return of ‐0.03%. 

Value of 100 Rupees invested 5 years ago

Fixed Income / Equity

IGI FutureSecure Balanced Fund‐ IHB

For the month of June 2019

INVESTMENT OBJECTIVE:

The investment objective of the Fund is to earn competitive return by investing in various asset classes/instruments based on the market outlook.

FUND INFORMATION: RETURNS:

Moderate

Daily Forward Pricing

Monday to Friday

1.5%

18‐Feb‐10

ASSETS UNDER MANAGEMENT:

IGI FutureSecure Balanced Fund ‐ IHB BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

4.2%

17.5%

47.9%

30.0%

0.4%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

6.8%

17.1%

46.7%

28.9%

0.5%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

95

115

135

155

175

195

215

235

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

246.32249.01

247.47 246.45

250.35

246.38

235.64

248.53 247.20247.22

243.88 243.81

240.27

230.00

235.00

240.00

245.00

250.00

255.00

260.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 171.5                  170.3                  0.73%

Net Assets Value (PKR '000) 38,777                39,191                ‐1.06%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

IGI FS Cautious Fund ‐ IHC 0.73% 1.38% 2.05% 5.39% 6.58% 10.86% 5.98%

During the month the fund generated an

absolute return of 0.73% against its last

month absolute return of 0.64%. 

Value of 100 Rupees invested 5 years ago

Fixed Income / Equity

IGI FutureSecure Cautious Fund‐ IHC

For the month of June 2019

INVESTMENT OBJECTIVE:To provide stable and competitive returns in line with the money markets exhibiting low volatility consistent with capital preservation by constructing a

liquid portfolio of low risk short term investments yielding competitive returns.

FUND INFORMATION: RETURNS:

Low

Daily Forward Pricing

Monday to Friday

1.5%

18‐Mar‐10

ASSETS UNDER MANAGEMENT:

IGI FutureSecure Cautious Fund ‐ IHC BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

1.6%

32.9%

62.5%

2.9% 0.0%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

0.8%

33.5%

62.8%

2.9% 0.1%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

95

105

115

125

135

145

155

165

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

160.93161.69 162.04 162.44

163.63 163.03 162.75

165.18166.70

168.08169.19

170.27171.52

158.00

160.00

162.00

164.00

166.00

168.00

170.00

172.00

174.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 216.3                  214.3                  0.92%

Net Assets Value (PKR '000) 17,073                17,448                ‐2.15%

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

IGI FS Secure Fund ‐ IHS  0.92% 0.88% 1.69% 4.16% 4.67% 8.39% 8.66%

During the month the fund generated an

absolute return of 0.92% against its last

month absolute return of ‐0.05%. 

Value of 100 Rupees invested 5 years ago

Govt. Securiities

IGI FutureSecure Fund‐ HIS

For the month of June 2019

INVESTMENT OBJECTIVE:

The objective of the fund is to generate a competitive return with minimum risk, by investing primarily in Government Securities.

FUND INFORMATION: RETURNS:

Low

Daily Forward Pricing

Monday to Friday

1.5%

18‐Mar‐10

ASSETS UNDER MANAGEMENT:

IGI FutureSecure Secure Fund ‐ IHS  BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

8.6%

91.4%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

6.3%

93.7%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

95

105

115

125

135

145

155

165

175

185

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

206.66 206.32207.48 207.35

206.77 207.14 207.67

209.79

211.62212.71

214.42 214.33

216.31

204.00

206.00

208.00

210.00

212.00

214.00

216.00

218.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 200.8                  201.3                  ‐0.24%

Net Assets Value (PKR '000) 2,283                  2,299                  ‐0.67%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

Sarmaya Pakistan Income ‐ SPI ‐0.24% 0.20% 1.05% 3.17% 7.12% 6.40% 8.10%

During the month the fund generated an

absolute return of ‐0.24% against its last

month absolute return of 0.44%. 

Value of 100 Rupees invested 5 years ago

Fixed Income

IGI Sarmaya Pakistan Income Fund ‐ SPI

For the month of June 2019

INVESTMENT OBJECTIVE:The objective of the Fund is to deliver competitive above inflation returns primarily from debt and fixed income investments without taking excessive

risk. The fund Is suited for investors with low risk tolerance.

FUND INFORMATION: RETURNS:

Sarmaya Plus 1.5%  / Sarmaya Premium 2.4%

Low

Daily Forward Pricing

Monday to Friday

22‐Jul‐10

ASSETS UNDER MANAGEMENT:

IGI Sarmaya Pakistan Income Fund ‐ SPI BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

15.8%

34.0%

47.9%

2.3%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

64.4%

33.2%

2.4%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

95

105

115

125

135

145

155

165

175

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

187.49188.63

189.89 190.79192.15

193.30194.66

195.97197.49

198.75200.43 201.31 200.83

180.00

185.00

190.00

195.00

200.00

205.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 293.2                  311.0                  ‐5.73%

Net Assets Value (PKR '000) 34,370                34,808                ‐1.26%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

Sarmaya Pakistan Stock ‐ SPS ‐5.73% ‐7.95% ‐12.65% ‐7.42% ‐17.21% ‐14.97% 13.64%

During the month the fund generated an

absolute return of ‐5.73% against its last

month absolute return of ‐2.36%. 

Value of 100 Rupees invested 5 years ago

Equity

IGI Sarmaya Pakistan Stock Fund ‐ SPS

For the month of June 2019

INVESTMENT OBJECTIVE:The objective of the fund is to provide investors long term capital appreciation through its investment in Pakistani equities. This fund is suited for

investors with medium to long term horizon and high risk tolerance.

FUND INFORMATION: RETURNS:

Sarmaya Plus 1.5%  / Sarmaya Premium 2.4%

High

Daily Forward Pricing

Monday to Friday

03‐Feb‐11

ASSETS UNDER MANAGEMENT:

IGI Sarmaya Pakistan Stock Fund ‐ SPS BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

7.2%

91.8%

1.0%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

9.4%

88.5%

2.1%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

100

150

200

250

300

350

400

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

354.14359.43

352.83349.24

358.12

348.93

316.71

350.86

337.87 335.68

318.54311.03

293.21

290.00

300.00

310.00

320.00

330.00

340.00

350.00

360.00

370.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 175.2                  175.2                  ‐0.01%

Net Assets Value (PKR '000) 147                     148                     ‐0.39%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

Sarmaya United Growth ‐ SUG ‐0.01% 0.51% 1.32% 7.93% 19.93% 15.99% 6.50%

During the month the fund generated an

absolute return of ‐0.01% against its last

month absolute return of 0.52%. 

Value of 100 Rupees invested 5 years ago

Fixed Income

IGI Sarmaya United Growth & Income Fund ‐ SUG

For the month of June 2019

INVESTMENT OBJECTIVE:Invest in medium to long‐term fixed income instruments as well as short‐tenor money market instruments to generate superior, long‐term, risk‐adjusted

returns while preserving capital over the long‐term.

FUND INFORMATION: RETURNS:

Sarmaya Plus 1.5%  / Sarmaya Premium 2.4%

Moderate

Daily Forward Pricing

Monday to Friday

05‐Aug‐10

ASSETS UNDER MANAGEMENT:

IGI Sarmaya United Growth Income Fund ‐ SUG BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

68.5%

13.4% 9.6% 8.6%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

63.7%

16.3%6.7%

13.4%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

75

95

115

135

155

175

195

215

235

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

146.08 146.86 147.46 148.18 149.04 149.77

162.32 163.28

171.10172.91 174.31 175.22 175.19

140.00

145.00

150.00

155.00

160.00

165.00

170.00

175.00

180.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 340.6                  361.2                  ‐5.71%

Net Assets Value (PKR '000) 315,219              329,586              ‐4.36%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

Sarmaya United Stock ‐ SUS ‐5.71% ‐7.41% ‐11.34% ‐6.41% ‐15.69% ‐12.92% 14.75%

During the month the fund generated an

absolute return of ‐5.71% against its last

month absolute return of ‐1.81%. 

Value of 100 Rupees invested 5 years ago

Equity

IGI Sarmaya United Stock Fund ‐ SUS

For the month of June 2019

INVESTMENT OBJECTIVE:The Fund seeks to maximize total returns and outperform its benchmark by investing in a combination of listed equity securities offering long term

capital gains and dividend yield potential.

FUND INFORMATION: RETURNS:

Sarmaya Plus 1.5%  / Sarmaya Premium 2.4%

High

Daily Forward Pricing

Monday to Friday

05‐Aug‐10

ASSETS UNDER MANAGEMENT:

IGI Sarmaya United Stock Fund ‐ SUS BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

11.5%

88.5%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

7.2%

91.8%

1.0%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

95

145

195

245

295

345

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

403.96413.54

405.17 398.72411.32

400.02

363.89

404.93393.04

384.14367.85 361.20

340.58

300.00

350.00

400.00

450.00

500.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 160.7                  161.3                  ‐0.41%

Net Assets Value (PKR '000) 7,955                  9,882                  ‐19.50%

* Asset Allocation have been developed by looking through the underlying assets of mutual funds investments.

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

Sarmaya United Money ‐ SUI ‐0.41% 0.27% 1.10% 4.03% 9.07% 8.12% 7.06%

During the month the fund generated an

absolute return of ‐0.41% against its last

month absolute return of 0.69%. 

Value of 100 Rupees invested since inception

Fixed Income

IGI Sarmaya United Money Market Fund ‐ SUI

For the month of June 2019

INVESTMENT OBJECTIVE:The objective of Money Market Fund is to generate competitive returns within a low risk portfolio to provide a regular stream of income and easy

liquidity to its investors by investing more than 50% of the portfolio in short term government securities

FUND INFORMATION: RETURNS:

Sarmaya Plus 1.5%  / Sarmaya Premium 2.4%

Low

Daily Forward Pricing

Monday to Friday

19‐Jul‐12

ASSETS UNDER MANAGEMENT:

IGI Sarmaya United Money Market Fund ‐ SUI BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION *:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

100.0%

73.3%

9.6%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

84.5%

15.5%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

100

105

110

115

120

125

130

135

140

145

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

147.29 148.23 149.20 150.19151.92

153.04154.43

155.74157.22

158.90160.21

161.31 160.65

142.00

147.00

152.00

157.00

162.00

167.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19

Strategy

Risk Profile

Pricing Mechanism

Pricing Days

Management Fee

Launch Date

Jun‐19 May‐19 MoM %

NAV per Unit (PKR) 268.6                  267.0                  0.59%

Net Assets Value (PKR '000) 2,738,744          2,741,991          ‐0.12%

30 Days 60 Days 90 Days 180 Days 365 Days CYTD Since Inception

IGI Sarmaya Secure ‐ SSE 0.59% 0.12% 1.33% 3.72% 6.46% 7.50% 11.67%

During the month the fund generated an

absolute return of 0.59% against its last

month absolute return of ‐0.46%. 

Value of 100 Rupees invested 5 years ago

Govt. Securiities

IGI Sarmaya Secure Fund ‐ SSE

For the month of June 2019

INVESTMENT OBJECTIVE:

The objective of the fund is to generate a competitive return with minimum risk, by investing primarily in Government Securities.

FUND INFORMATION: RETURNS:

Sarmaya Plus 1.5%  / Sarmaya Premium 2.4%

Low

Daily Forward Pricing

Monday to Friday

22‐Jul‐10

ASSETS UNDER MANAGEMENT:

IGI Sarmaya Secure Fund ‐ SSE BID PRICE:

Disclaimer:  Past performance is not indicative of future performance. Market volatility can significantly affect short‐term performance. The value of 

investment can fall as well as rise.

ASSET ALLOCATION:

Jun‐19 May‐19

FUND PERFORMANCE:

Absolute Return Annualized Return

5.4%

27.5%

67.1%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

5.1%

27.7%

67.2%

BankDeposits

TFC's /Sukuk

T‐Bills TDR PIB's Stock DFI &Others

100

120

140

160

180

200

220

240

Jun‐13

Jun‐14

Jun‐15

Jun‐16

Jun‐17

Jun‐18

Jun‐19

252.29 252.72254.89 255.26

256.91 257.16258.96

261.00

264.09 265.07

268.27267.03

268.60

245.00

250.00

255.00

260.00

265.00

270.00

275.00

Jun‐18 Jul‐18 Aug‐18 Sep‐18 Oct‐18 Nov‐18 Dec‐18 Jan‐19 Feb‐19 Mar‐19 Apr‐19 May‐19 Jun‐19