MUFAPMutual Funds Association of Pakistan

PKR 550,216 million PKR 139,691 million

Total assets as at March 2019 Highest assets in the Equity category as at March 2019

9.65 % Return on Aggressive Fixed Income PKR (12,450) million

Highest return for the month of March 2019 Total Net sales for the month of March 2019

Amid large swings and thin trading volumes, the benchmark KSE-100 Index closed the outgoing month with a decline of 405 points (1%) on a month-on-month basis.

The market looked past the positive developments such as increase in SBP’s reserves to double-digit after almost a year as the country received commercial loan from

China equivalent to USD 2.2 billion and USD 1 billion from the United Arab Emirate; and a massive drop in Current Account Deficit (CAD) for February that clocked

in at mere USD 356 million mainly due to a massive 20% MoM decline in imports. Instead, concerns on the economic growth and corporate profitability came to fore

as LSM for January 2019 witnessed a large 4.6% contraction on a YoY basis, taking 7MFY2019 decline to 2.3%. The SBP also revised down its economic growth projection

for FY19 to 3.5%-4% driven by slowing economic activity and dismal performance of the major crops. This slowing economic growth coupled with rising interest rates

and despite significant improvement, a still large current account deficit prompted investors to stay on the side lines. Adding to investors’ angst was the news

surrounding the simultaneous scrutiny done by the Financial Action Task Force (FATF) and its affiliate Asia Pacific Group (APG), calling Pakistan's case more complex,

while the country will have to submit another compliance report on terror financing. In line with the market expectation, the SBP in its bi-monthly monetary policy

on March 29, lifted the Policy Rate by 0.5% to 10.75% driven by continuing underlying inflationary pressures, elevated fiscal deficit, and high current account deficit.

Industry Size - Assets under Management

Category wise Unit Holder Pattern

Asset Allocation

Highlights

Overview

MONTHLY FACT SHEET - OPEN END FUNDS MARCH 31, 2019

38%4%

2%

4%1%

44%

1%

2%

0%

2%

6%

Cash Banks & DFIs

NBFCs Reverse Repos Against Govt Securities

Reverse Repos Against All other Securities TFCs

Government Backed/Guaranteed Securities Equities

PIBs TBILLs

Commercial Papers Spread Transactions

CFS/ Margin Financing Others Including Receivables

0%

0%

24%

9%6%

7%

3%

11%25%

1%

0%

0%1%

4%4%

2%0%1%0%0%0%0%

7%

Capital Protected Capital Protected - IncomeMoney Market IncomeShariah Compliant Income Shariah Compliant Fund of FundsShariah Compliant Fund of Funds - CPPI Shariah Compliant EquityEquity Aggressive Fixed IncomeIndex Tracker Shariah Compliant Index TrackerShariah Compliant Balanced Fund Shariah Compliant Money MarketShariah Compliant Asset Allocation Asset AllocationCommodities Balanced

0

50000

100000

150000

200000

250000

300000

Open EndMar'19

Open EndFeb'19

39%

11%

33%

10%

2%

5%

17%

Individuals

Banking and FIs

Others

Retirement funds

Porvident fund

Gratuity fund

Pension fund

Monthly Fact Sheet - March 2019 Page 1 of Pages 5

Category Mar'19 Feb'19

Money Market 9.56% 9.37%

Income 8.50% 9.35%

Equity -5.90% -6.69%

Capital Protected 0.43% 0.50%

Capital Protected - Income 10.11% 4.84%

Fund of Funds - CPPI 0.02% -0.28%

Aggressive Fixed Income 9.65% 7.76%

Balanced -0.85% -1.86%

Asset Allocation -0.38% -1.75%

Fund of Funds -0.22% -0.76%

Index Tracker -1.13% 0.00%

Shariah Compliant Money Market 9.08% 8.76%

Shariah Compliant Income 9.02% 7.94%

Shariah Compliant Equity -3.25% -3.20%

Shariah Compliant Capital Protected Fund -0.56% -0.72%

Shariah Compliant Fund of Funds - CPPI 0.20% -0.06%

Shariah Compliant Aggressive Fixed Income 9.10% 9.47%

Shariah Compliant Balanced Fund -1.38% -2.00%

Shariah Compliant Asset Allocation -1.30% -1.58%

Shariah Compliant Fund of Funds -1.08% -1.07%

Shariah Compliant Index Tracker -3.48% -4.10%

Shariah Compliant Commodities -0.66% -0.50%

* Based on weighted average return of industry

NOTE:

The information pertaining to this MFS for the month of March 2019 does not reflect the complete industry picture as it does not include data from

MCBAH, PakOman as the data was not received from them till the date of this publication.

Please note that the figures of investors breakup and channel wise breakup may vary due to different reporting mechanism by channels to AMC.

Return (Monthly - %) *

Net Sales (PKR Millions)

28.60689641

-2104.131792

-439.9043334-104.5375906-434.0757498

-9714.850422

-12000

-10000

-8000

-6000

-4000

-2000

0

2000

Individuals Banking andFIs

Porvidentfund

Gratuityfund

Pensionfund

Others

INVESTORS BREAKUP

-10476.18712

101.1802784

-1529.237653-741.2912644

364.054913

-12000

-10000

-8000

-6000

-4000

-2000

0

2000

Direct sales Through RSP -Individuals

Through RSP -Coporates

Banks -Commercial /

Scheduled

Others

CHANNEL WISE

Monthly Fact Sheet - March 2019 Page 2 of Pages 5

MUFAPMutual Funds Association of Pakistan

PKR 26,101 million PKR 8,787 million

Total assets as at March 2019 Highest assets in the Shariah Equity sub fund category of funds as at March 2019

8.46 % Return on Money Market sub fund PKR 105 million

Highest return for the month of March 2019 Total Net sales for the month of March 2019

Amid large swings and thin trading volumes, the benchmark KSE-100 Index closed the outgoing month with a decline of 405 points (1%) on a month-on-month basis.

The market looked past the positive developments such as increase in SBP’s reserves to double-digit after almost a year as the country received commercial loan from

China equivalent to USD 2.2 billion and USD 1 billion from the United Arab Emirate; and a massive drop in Current Account Deficit (CAD) for February that clocked

in at mere USD 356 million mainly due to a massive 20% MoM decline in imports. Instead, concerns on the economic growth and corporate profitability came to fore

as LSM for January 2019 witnessed a large 4.6% contraction on a YoY basis, taking 7MFY2019 decline to 2.3%. The SBP also revised down its economic growth projection

for FY19 to 3.5%-4% driven by slowing economic activity and dismal performance of the major crops. This slowing economic growth coupled with rising interest rates

and despite significant improvement, a still large current account deficit prompted investors to stay on the side lines. Adding to investors’ angst was the news

surrounding the simultaneous scrutiny done by the Financial Action Task Force (FATF) and its affiliate Asia Pacific Group (APG), calling Pakistan's case more complex,

while the country will have to submit another compliance report on terror financing. In line with the market expectation, the SBP in its bi-monthly monetary policy

on March 29, lifted the Policy Rate by 0.5% to 10.75% driven by continuing underlying inflationary pressures, elevated fiscal deficit, and high current account deficit.

Asset Allocation

Industry Size - Assets under Management

Category wise Unit Holder Pattern

Highlights

Overview

MONTHLY FACT SHEET - PENSION FUNDSMARCH 31, 2019

28%

3% 3%

46%

1%5%

3% 2%

Cash Banks & DFIs

NBFCs Reverse Repos Against Govt Securities

Reverse Repos Against All other Securities TFCs

Government Backed/Guaranteed Securities Equities

PIBs TBILLs

Commercial Papers Spread Transactions

CFS/ Margin Financing Others Including Receivables

9%

15%

10%

0%

18%

34%

14%

0%

48%

General Pension FundDebt

General Pension FundEquity

General Pension FundMoney Market

General Pension FundCommodity

Islamic Pension FundsDebt

Islamic Pension FundsEquity

Islamic Pension FundsMoney Market

Islamic Pension FundsCommodity

0

2000

4000

6000

8000

10000

12000

14000

Pension FundMar'19

Pension FundFeb'19

92%

6% 2%0%

Individuals

Banking and FIs

Others

Retirement funds

Porvident fund

Gratuity fund

Pension fund

Monthly Fact Sheet - March 2019 Page 3 of Pages 5

Pension Funds Mar'19 Feb'19

General Pension Fund 17.93% 20.18%

Islamic Pension Fund 12.50% 12.01%

* Based on weighted average return of industry

NOTE:

The information pertaining to this MFS for the month of March 2019 does not reflect the complete industry picture as it does not include data from

MCBAH, PakOman as the data was not received from them till the date of this publication.

Please note that the figures of investors breakup and channel wise breakup may vary due to different reporting mechanism by channels to AMC.

Return (Monthly - %) *

Net Sales (PKR Millions)

104.4946703

0 0 0 0 00

20

40

60

80

100

120

Individuals Banking andFIs

Porvidentfund

Gratuityfund

Pensionfund

Others

INVESTORS BREAKUP

75.12617847

57.94829525

1.63943802

-30.98132969

0.52418827

-40

-20

0

20

40

60

80

100

Direct sales Through RSP -Individuals

Through RSP -Coporates

Banks -Commercial /

Scheduled

Others

CHANNEL WISE

Monthly Fact Sheet - March 2019 Page 4 of Pages 5

MUFAPMutual Funds Association of Pakistan

PKR 1,386 million

Total assets as at March 2019

Amid large swings and thin trading volumes, the benchmark KSE-100 Index closed the outgoing month with a decline of 405 points (1%) on a month-on-month basis.

The market looked past the positive developments such as increase in SBP’s reserves to double-digit after almost a year as the country received commercial loan from

China equivalent to USD 2.2 billion and USD 1 billion from the United Arab Emirate; and a massive drop in Current Account Deficit (CAD) for February that clocked

in at mere USD 356 million mainly due to a massive 20% MoM decline in imports. Instead, concerns on the economic growth and corporate profitability came to fore

as LSM for January 2019 witnessed a large 4.6% contraction on a YoY basis, taking 7MFY2019 decline to 2.3%. The SBP also revised down its economic growth projection

for FY19 to 3.5%-4% driven by slowing economic activity and dismal performance of the major crops. This slowing economic growth coupled with rising interest rates

and despite significant improvement, a still large current account deficit prompted investors to stay on the side lines. Adding to investors’ angst was the news

surrounding the simultaneous scrutiny done by the Financial Action Task Force (FATF) and its affiliate Asia Pacific Group (APG), calling Pakistan's case more complex,

while the country will have to submit another compliance report on terror financing. In line with the market expectation, the SBP in its bi-monthly monetary policy

on March 29, lifted the Policy Rate by 0.5% to 10.75% driven by continuing underlying inflationary pressures, elevated fiscal deficit, and high current account deficit.

Asset Allocation

Category Mar'19

Equity -0.33%

* Based on weighted average return of industry

NOTE:

The information pertaining to this MFS for the month of March 2019 does not reflect the complete industry picture as it does not include data from

MCBAH, PakOman as the data was not received from them till the date of this publication.

Please note that the figures of investors breakup and channel wise breakup may vary due to different reporting mechanism by channels to AMC.

Return (Monthly - %) *

Highlights

Highest assets in the equity category of funds as at March 2019

Overview

Industry Size - Assets under Management

MONTHLY FACT SHEET - CLOSED END FUNDSMARCH 31, 2019

4%

96%

0%

0%0%

Cash Banks & DFIs

NBFCs Reverse Repos Against Govt Securities

Reverse Repos Against All other Securities TFCs

Government Backed/Guaranteed Securities Equities

PIBs TBILLs

Commercial Papers Spread Transactions

CFS/ Margin Financing Others Including Receivables

0

200

400

600

800

1000

1200

1400

1600

Close End Mar'19

Monthly Fact Sheet - March 2019 Page 5 of Pages 5