Lakson Islamic Tactical Fund
The investment objective of lakson Islamic Tectical Fund (Formaly Lakson Asset Allocation Emerging Market Fund) is to provide long term capital appreciation by exclusively investing in Shariah Compliant avenues including equities fixed income instruments and emerging market securities.
Investor Profile
Retail, Institutional and High Net Worth Investors who want to take an exposure in the Emerging Markets.
Category Asset Allocation
The LITF can invests up to 100% of the assets in domestic debt markets, and up to 30% (or USD 15 Million) in international emerging markets.
Returns as of July 31st, 2022
wdt_ID | 6 months | CY22 - YTD | FY22-YTD | |
---|---|---|---|---|
1 | LITF | -10.45% | -8.80% | -14.00% |
2 | Benchmark | -5.86% | -4.05% | -6.93% |
Returns as of July 31st, 2022
wdt_ID | July-22 | Jun-22 | May-22 | |
---|---|---|---|---|
1 | LITF | -2.71% | -1.24% | -4.42% |
2 | Benchmark | -2.81% | -0.94% | -2.95% |
1 Day Return | 15 Day Return | 30 Day Return | 90 Day Return | 180 Day Return | 365 Day Return |
---|---|---|---|---|---|
% | % | % | % | % | 1.51% |
Investment Committee
- Babar LakhaniChief Executive OfficerBabar LakhaniChief Executive Officer
Mr. Babar Lakhani is a Principal of the Lakson Group, one of Pakistan’s largest conglomerates, which manages and owns companies in agri-business, call centres, fast food, FMCG, financial services (investments and insurance), media (broadcast and publishing), paper and board, printing and packaging, surgical instruments, technology (data-networking, ISP, BPO & software), and travel sectors.
Mr. Lakhani is the CEO of Lakson Investments Limited (“LI”), Pakistan’s largest independent asset management company which is regulated and licensed by the SECP. LI manages Private Equity and Venture Capital Funds; Fixed Income and Equities (Conventional, Shariah, SRI/ESG, Tactical) with offices in Karachi and Dubai.
He is also a Director of the Express Media Group, the second largest media company in Pakistan and the Chairman of ICE Animations. He is a member of the Young Presidents Organization Emirates & Pakistan where he was a Chapter Chair from 2014-2015. Mr. Lakhani is a volunteer at Special Olympics Pakistan where he founded an annual marathon in 2016 and a member of the Alumni Trustee Committee of Brandeis University from where he received his MBA. He completed his B.A. in Finance at Bentley College.
He is a distance runner and a triathlete.
- Kashif MustafaManaging PartnerKashif MustafaManaging Partner
Mr. Mustafa joined the Company in 2011. He is part of the core team at Lakson Investments and serving as the Executive Director and Chief Operating Officer. He serves as a member of the Investment Committee for public and private equity. He also overseas the countrywide Business Operations. During his tenure, the firm has emerged as a key preferred choice in the discretionary investment advisory management for the UHNIs and family offices mainly. Mr. Mustafa has also played a crucial role with the Regulator in establishing first ever Private Funds’ Regulations in Pakistan and as part of the Lakson Private Equity team has successfully launched the first Lakson Private Equity Fund.
Mr. Mustafa has over twelve years of successful experience of working in leading financial institutions in different key roles. His core specialized areas include Mutual Funds, Investment Advisory, Private Equity, Family Governance Structuring, Economic Research, Financial Analysis and lead Negotiation/Business Development. Prior to joining Lakson Investments, Mr. Mustafa worked for Askari Investments and Crosby Securities Pakistan Limited as Vice President and Head of Sales & Business Development respectively. He frequently appears on media for discussion on the financial, economy, regulatory and political issues.
Mr. Mustafa holds a Master’s degree in Wealth Management from Singapore Management University which is a partnership program with Yale School of Management, USA and St. Gallen University, Switzerland. His second Master’s is in Economics, and graduation in Mathematics. He is Certified- Institute of Banking & Finance (Advanced), Singapore. His multiple certifications include, Alternative Investments from Yale SOM and Preserving Wealth for Generations from St. Gallen, SL. He is an alumnus from Wealth Management Institute-NTU, Singapore.
- Mustafa O. Pasha, CFAChief Investment OfficerMustafa O. Pasha, CFAChief Investment Officer
Mr. Pasha has over thirteen (13) years of experience in the asset management and investment advisory industry. He completed his undergraduate degree from McGill University (Montreal, Canada) in 2006 with a focus on Economics, History and Political Science and was awarded his CFA charter in 2012.
As Chief Investment Officer at Lakson Investments, he leads the investments process by formulating strategy and asset allocation in collaboration with a team of fund managers and analysts. He is responsible for driving the performance of all assets under management across public markets including mutual funds and managed accounts. As a member of senior management he is actively involved with all facets of the company's business strategy and in developing its long term vision.
Mr. Pasha was previously associated with BMA where he initially served as a fixed income analyst and later became the in-house economist for the entire BMA group. Between 2009 and 2012, he managed fixed income/money market investments across all mutual funds and institutional/HNW accounts advised by BMA. - Hassan Bin NasirHead of Fixed IncomeHassan Bin NasirHead of Fixed Income
Mr. Nasir has over twelve years of experience and currently holds the position of Vice President - Fixed Income at Lakson Investments Limited. He completed his MBA with a concentration in Finance from Bahria University, Pakistan.
At Lakson Investments, he is responsible for managing the fixed income portfolios of mutual funds and separately managed accounts. As a senior member of the team he is actively involved with both the front and back office to drive the company's strategy and vision forward.
He has extensive experience in fixed income investment strategy and trading conventional and Shariah compliant government securities, corporate debt and banking products.
Mr. Nasir has previously been associated with MCB - Arif Habib, Faysal Funds, BMA Funds and GlaxoSmithKline Pakistan Limited in various capacities of portfolio management.
- Syavash PahoreHead of ResearchSyavash PahoreHead of Research
Mr. Pahore has over 6 years of experience in sell side equity research and asset management. He completed his undergraduate degree from the University of Nottingham in 2016 with a major in finance & accounting.
As Head of Research at Lakson Investments his work is focused on studying the domestic equity markets, analyzing broader themes and identifying individual securities to aid the investment decision making process. His team is closely involved with fund managers and works under the direction of the Chief Investment Officer to help determine overall asset allocation and stock selection in order to maximize the risk adjusted return for our clients.
Mr. Pahore started his career with Optimus Capital in 2016 as a Banking & Energy analyst and then transitioned into a Fund Manager role at JS Investments for its separately managed corporate and high net worth individual accounts. He later transitioned to the role of Head of Research at JS Investments before moving to Lakson Investments in 2022.
Rating
4 Star
(JCR-VIS) has assessed the fund performance rankings of Lakson Islamic Tactical Fund for the one year period ended 02 Apr 2021.
Key Fund Details | |
---|---|
Fund Type | Open-End |
Category | Shariah Compliant Asset Allocation Fund |
Net Assets*** (PKR Mil.) | 489 |
NAV (04/26/2023)* | 95.8527 |
Pricing Mechanism | Forward day |
Trustee | CDC Pakistan Limited |
Auditor | KPMG Taseer Hadi & Co. |
Management Fee | 10% of the Gross Earnings of the Scheme, calculated on a daily basis. The fee is subject to a minimum of 1% and maximum of 2% of the average annual net assets of the Scheme. |
Front End Load | 2.50% |
Back End Load | None |
Launch Date | Oct 11, 2011 |
Benchmark | weighted average daily return of KMI 30 index, 6m deposit rates of three. A rated Islamic Banks or Islamic wondows of convertional Banks and MSCI Emerging markets Islamic Index based on the schemes actual proportion in the equity, debt and emerging market |
Dealing Days | Mon - Fri |
Cut-Off Time | 4:00 PM |
Risk Profile | High Risk |
Asset Manager Rating | AM2+ by PACRA (27.08.2021) |
* Updated Daily ** Updated Weekly *** Updated Monthly
Performance Analysis: Monthly Returns***
LITF vs. Benchmark***
As of July 31st, 2022
wdt_ID | MM/YY | MoM Return |
---|---|---|
1 | May | -4.42% |
2 | Apr-22 | 0.43% |
3 | Mar-22 | 1.52% |
4 | Feb-22 | -2.41% |
5 | Jan-22 | 1.83% |
6 | Dec-21 | -1.66% |
7 | Nov-21 | -2.18% |
8 | Oct-21 | 1.00% |
9 | Sep-21 | -3.62% |
10 | Aug-21 | 1.15% |
As on 31st january 2022
wdt_ID | Fund Performance | LITF | Benchmark |
---|---|---|---|
1 | FY23TD | -14.00% | -6.93% |
2 | July-22 | -2.71% | -2.81% |
3 | 2 Months | -3.92% | -3.73% |
4 | 3 Months | -8.16% | -6.57% |
5 | 6 Months | -10.45% | -5.86% |
6 | 12 Months | -13.62% | -6.83% |
7 | CY22TD | -8.80% | -4.05% |
8 | 3 Years | 16.12% | 27.46% |
9 | 5 Years | -9.96% | 2.68% |
10 | Since Inception | 24.16% | 49.39% |
Performance Comparison
Asset Allocation (%)
wdt_ID | Portfolio Statistics | |
---|---|---|
1 | Size of Fund | 321.26 |
As of July 31st, 2022
Asset Allocation Instruments (as % of total assets)
wdt_ID | Instruments | July-22 | Jun-22 | May-22 |
---|---|---|---|---|
1 | Equities | 57.8% | 61.9% | 63.0% |
2 | Sukuk | 0.0% | 0.0% | 0.0% |
3 | Placements with Financial Institutions | 12.2% | 16.4% | 16.1% |
4 | Cash | 26.7% | 19.0% | 17.3% |
5 | Others | 3.2% | 2.8% | 3.6% |
Top 10 Equity holdings (%age of total Assets)
wdt_ID | Top 10 Equity Holdings (%age of total assets) | May-22 |
---|---|---|
31 | Pakistan State Oil Company Limited | 3.2% |
29 | Meezan Bank Limited | 4.2% |
27 | Mari Petroleum | 5.0% |
25 | Systems Limited | 6.3% |
33 | Engro Corporation Limited | 2.3% |
32 | Hub Power Co. | 2.7% |
30 | Oil & Gas Dev. | 3.2% |
28 | Pakistan Petroleum | 4.8% |
26 | Engro Fertilizers Limited | 5.3% |
24 | Pak Oilfields | 7.6% |
Sectorwise Exposure (%age of total assets)
Sectorwise Exposure (%age of total assets) | instruments | July-22 | jun-22 | May-22 |
---|---|---|---|---|
1 | Equities | 57.8% | 61.9% | 63.0% |
2 | Sukuk | 0.0% | 0.0% | 0.0% |
3 | Placements with Financial Institutions | 12.2% | 16.4% | 16.1% |
4 | Cash | 26.7% | 19.0% | 17.3% |
5 | Others | 3.2% | 2.8% | 3.6% |
wdt_ID | Fees & Expenses | ||
---|---|---|---|
1 | Management Fee | 10% of the Gross Earnings of the Scheme, calculated on a daily basis. The fee is subject to a minimum of 1% and maximum of 2% of the average annual net assets of the Scheme. | |
2 | Regulator’s Fee | 0.12% | |
3 | Trustee Fee | * Find the table below for Trustee Fee | |
4 | Front End Load | 2.50% | |
5 | Back End Load | None | |
6 | Total Expense Ratio May 2022 | Annualized: 2.83 | 1.68 |
7 | Govt. Levy | Annualized: 0.29 | FYTD: 0.17 |
wdt_ID | Minimum Investment & Holding Period | |
---|---|---|
1 | Minimum Holding Period | None |
2 | Minimum Initial Investment | PKR 1,000 |
3 | Minimum Subsequent Investment | PKR 1,000 |
wdt_ID | Trustee Fee Details | |
---|---|---|
1 | 1-1 billion | Higher of Rs.0.7 Million or 0.20% per annum of Net Assets |
2 | Over 1 billion | 0.10% p.a. of Net Assets exceeding Rupees One Billion |
Disclaimer
All investments in Mutual Funds are subject to market risks. The NAV of units may go up or down based on the market conditions. Past performance is not necessarily indicative of future results. The investors are advised in their own interest to carefully read the Offering Document in particular the investment policies in Clause 2.2 and risk disclosures and warning statements in contained in Clause 2.11 and part 11 in the respective Offering Documents.