Arif Habib Investments (AHI) Monthly Savings Plan Ad
TERM SHEET (Monthly Savings Plan)
Name of the Investment Plan: Monthly Savings Plan
Nature of the Investment Plans: PIF-Saving Plan, PSM Saving Plan and Balanced Saving Plan, a hyvrid investment plan of PSM & PIF (both Open-end funds)
Date of Inception: 11th March, 2002
Asset Manager: Arif Habib Investments Ltd (formerly: Arif Habib Investment Management Ltd)
Asset Manager rating: 'AM2' (by PACRA)
Trustee: Central Depository Company of Pakistan Limited
Listing: PSM & PIF are listed on Karachi Stock Exchange
Governing Body: Securities & Exchange Commission of Pakistan
Face Value per unit: PKR 50/- (for both the funds )
Minimum Initial Investment: Rs. 50,000/- (min. add-on Rs.1,000/-)
ATM Card Facility: Available
Pricing Mechanism: Forward pricing for both the funds
Transaction Timings: Monday-Friday: 0900 - 1700 hrs (Ramadan 0900-1400 hrs) , Saturday 0900 - 1215 hrs (Ramadan: 0900-1215 hrs). Any transation on Saturday is executed on Monday
Quick Redemptions: Retail investors can instantly redeem funds through ATM card from Bank Al-Habib as well as 1-Link ATM machines. Normal redemptions are paid back within 6 working days
Legal Advisor: Kabraji & Talibuddin (for both underlying funds)
Auditors: KPMG Taseer Hadi & Co.
Registrar: Gangjees Registrar Services (Pvt) Limited
Investment Objective; To facilitate an investor to accumulate a lump sum for a final objective (like buying a house, paying for childrens education and/or marriages etc.) through regular monthly contributions.
Investment Policy: Investors can choose between a PSM - Savings Plan, PIF Savings Plan or Balanced Savings Plan: As the names suggest, the PSM and PIF Savings plans invest in PSM and PIF respectively while the Balanced Savings Plan starts with an allocation of 60% in PSM and 40% in PIF. This allocation will be periodically reversed by the time the plan matures. The investor can choose a 10, 15 or 20 years plan. The plan offers a specially designed insurance cover (optional) to insure the monthly investment in the plan at a minimal cost. In case, the investor does not deposit monthly investment along with insurance premium, the management company reserves the right to redeem units from the plan to pay monthly insurance premium. The account still remains active and he/she can add to investments as and when possible.
Dividends Distribution Policy: Underlying funds shall distribute 90% of the amount available for distribution or any other payout ratio as bonus Units or cash dividends in order to avail tax exemption or any other benefits in the interest of the Unit Holders for the whole accounting year. All dividends will be reinvested.
Tax Advantage: As per Current tax law, Capital Gains Tax is exempted (except Commercial Banks) for tax year ending as of 30th June, 2010.
Duration: Perpetual
Management Fee: PIF - 1.50% & PSM - 2% p.a. on net assets
Total Expense Ratio (FY'09): Respective funds' expense ratio is applicable
Front End Load: PIF-MSP: 1.35%, PSM-MSP: 2%, BSP: 1.74% (weighted average loads of PIF & PSM)
Back End Load: NIL
Disclaimer: All investments in mutual funds are subject to market risk. Past performance is not necessarily indicative of future results. Please read the respective offeirng document for risk disclosure
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