Lakson Tactical Fund

Investment Objective

The investment objective of the Lakson Tactical Fund (Formerly Lakson Asset Allocation Global Commodities Fund) is to provide long-term capital appreciation by investing in a mix of securities comprising debt, equity and commodities future contracts

Investor Profile

The fund is best suited for investors seeking higher stable income with a medium term investment horizon.

Category – Asset Allocation

The LTF can invest up to 90% of the assets in domestic equity and debt markets or up to 30% in commodities. The Fund may also invest outside Pakistan up to 30% subject to a cap of USD 15 million.

Returns as at July 31, 2018

wdt_ID		6 Months	CY22-YTD	FY22-YTD
1	LTF	-5.31%	-7.05%	0.47%
2	Benchmark	0.83%	1.55%	1.07%

Click here for monthly performance

For Past Three Months returns *** As on July 31, 2018

wdt_ID		Sep-22	Jun-22	May-22
1	LTF	-1.81%	-1.41%	-2.03%
2	Benchmark	-1.49%	-1.49%	-1.09%

Expanded performance info

Investment Committee

Babar Lakhani
Chief Executive Officer
Babar Lakhani

Chief Executive Officer

Babar Lakhani has over 20 years of investment and portfolio management experience in public and private markets. Babar Lakhani most recently served as the CIO of Century Insurance, a Public Limited company listed on the Pakistan Stock Exchange of Pakistan. Prior to joining Lakson Group his positions were as an Investment Associate at High Street Advisors and an Research Associate at Credit Suisse First Boston.

Babar serves on the board of many of the investee companies of Lakson’s PE and VC funds. In addition to this, he sits on the board of several Lakson Group companies.

He received his BA in Finance from Bentley College, and his MBA from Brandeis University. Babar Lakhani is a member of the Global Association of Risk Professionals (GARP), the Society of Financial Service Professionals, and the Young Presidents’ Organization (YPO Pakistan and YPO Emirates). He is also a member of the Alumni Trustee Committee of Brandeis University, the school’s representative in Pakistan, a Board Member of Developments in Literacy (DIL.org), and a founder of the Special Olympics Marathon (Pakistan).

Mr. Lakhani’s passions include spending time with his family, philanthropy, ultra-distance running, technology, reading, and film.

Experience

Lakson Investments Limited

Founder and CEO

January 2009 - Present (15 years)

Lakson Group

Co-Owner

December 2004 - Present (19 years 1 month)

Century Paper & Board Mills Ltd

Board Member

September 2021 - Present (2 years 4 months)

OMI Hospital

Board | Investor

October 2018 - Present (5 years 3 months)

Roomy

Board | Investor

April 2021 - Present (2 years 9 months)

Islamabad | Batakundi, Naran | Minapin, Nagar | Gulmit, Hunza

Knowledge Platform

Board | Investor

April 2021 - Present (2 years 9 months) Islāmābād, Pakistan

A leading ed-tech company, providing holistic learning solutions in the form of strategy, content, technology & support.

Bagallery

Board | Investor

October 2020 - Present (3 years 3 months) Karāchi, Sindh, Pakistan

Bookme.pk

Board | Investor

April 2019 - Present (4 years 9 months) Lahore, Punjab, Pakistan

Pakistan's leading online ticketing platform.

MEDZnMORE

Co-Founder

February 2020 - May 2023 (3 years 4 months)

Century Insurance Company Limited

Chief Investment Officer

December 2004 - January 2007 (2 years 2 months)

High Street

Investment Associate

February 2000 - June 2002 (2 years 5 months)

Credit Suisse First Boston

Research Analyst

May 1999 - January 2000 (9 months)

Education

Brandeis University

MBA

Bentley College

BA, Finance

Millfield School

Rugby School

KGS
Kashif Mustafa
Managing Partner
Kashif Mustafa

Managing Partner

Kashif Mustafa is a financial professional with over 21 years of remarkable experience in various key roles within leading financial and healthcare institutions. He has been a driving force at Lakson Investments since joining in 2011. He currently serves as the Executive Director and is an integral part of the core team.

Professional Accomplishments:
Throughout his career, Kashif Mustafa has exhibited expertise in Investment & Financial Advisory, Private Equity, Operations and Business Management, Turnaround Management, Family Governance Structuring, Economic Research, and Lead Negotiation/Business Development. His lead role has played a pivotal role in shaping Lakson Investments into a preferred choice for Ultra High Net Worth Individuals (UHNIs) and family offices, particularly in the realm of discretionary investment advisory management. He is the member of the Investment Committees of Public Equities, Private Equity and Venture Capital

He is widely recognized for his instrumental role in establishing Pakistan's first-ever Private Funds' Regulations in collaboration with regulators. He also led the successful launch of the inaugural Lakson Private Equity Fund and Lakson Venture Capital Fund. He sits on the board of Bookme, Bagallery and OMI Hospital.

Educational Background:
Mr. Mustafa's academic achievements are equally impressive. He holds a Master's degree in Wealth Management from Singapore Management University, earned through a prestigious partnership program with Yale School of Management, USA, and St. Gallen University, Switzerland. His academic pursuits also encompass a second Master's degree in Economics and an undergraduate degree in Mathematics. He is a certified professional from the Institute of Banking & Finance (Advanced), Singapore, and boasts certifications in Alternative Investments from Yale SOM and Preserving Wealth for Generations from St. Gallen, SL. Kashif Mustafa is an alumnus of Wealth Management Institute, Singapore.

Media Presence:
Kashif Mustafa's insights and expertise are frequently sought after by the media. He has become a respected voice in discussions covering financial, economic, regulatory, and political issues.
Mustafa O. Pasha, CFA
Chief Investment Officer
Mustafa O. Pasha, CFA

Chief 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 Nasir
Head of Fixed Income
Hassan Bin Nasir

Head 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.

Rating

4 Star

(JCR-VIS) has assessed the fund performance rankings of Lakson Tactical Fund for the one year period ended 31 Dec 2017

Click here to read the press release

* Updated Daily ** Updated Weekly *** Updated Monthly

Performance Analysis: Monthly Returns***

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LTF vs. Benchmark***

wdt_ID	MM/YY	MoM Return
1	May-22	-3.53%
2	Apr-22	-1.16%
3	Mar-22	0.54%
4	Feb-22	-2.90%
5	Jan-22	1.45%
6	Dec-21	-1.52%
7	Nov-21	-2.87%
8	Oct-21	1.81%
9	Sep-21	-4.31%
10	Aug-21	2.05%

As on July 31, 2018

wdt_ID	Fund Performance	LTF	Benchmark
1	FY23TD	-13.36%	-2.82%
2	July-22	-1.41%	-1.49%
3	2 Months	-3.42%	-2.56%
4	3 Months	-6.83%	-4.27%
5	6 Months	-10.10%	-2.98%
6	12 Months	-13.26%	-2.83%
7	CY22TD	-8.79%	-1.03%
8	3 Years	14.19%	31.25%
9	5 Years	-5.76%	16.77%
10	Since Inception	45.18%	57.54%

Performance Comparison

wdt_ID	Fund Name	Validity Date	NAV	YTD	MTD	1 Day	15 Days	30 Days	90 Days	180 Days	270 Days	365 Days
1	Alfalah GHP Value Fund	Sep 20, 2017	64.301	-8.75	2.37	0.3	0.93	1.18	-8.71	-10.5	-5.79	7.96
2	Askari Asset Allocation Fund	Sep 20, 2017	47.8563	-9.29	1.95	0.25	0.94	0.6	-9.5	-13.95	-10.33	-2.85
3	Faysal Asset Allocation Fund	Sep 20, 2017	62.95	-8.41	2.39	0.45	0.69	2.16	-8.93	-19.27	-8.57	-8.58
4	Lakson Asset Allocation Developed Markets Fund	Sep 18, 2017	121.2491	1.93	0.32	0.05	0.46	1.12	1.71	4.07	7.55	8.9
5	Lakson Tactical Fund (Formerly: Lakson Asset Allocation Global Commodities Fund)	Sep 20, 2017	100.8003	-5.52	1.96	0.14	0.86	0.86	-5.59	-3.66	-0.6	7.5
6	MCB Pakistan Asset Allocation Fund	Sep 20, 2017	79.6466	-1.7	1.56	0.23	0.89	1.12	-1.81	-3.74	-2.96	1.47
7	MCB Pakistan Frequent Payout Fund	Sep 20, 2017	101.2958	0.72	0.26	0.01	0.18	0.33	0.82	1.97	3.14	5.2
8	NAFA Asset Allocation Fund	Sep 20, 2017	16.0126	-5.74	2.27	0.45	1.4	1.35	-5.84	-5.61	-0.27	12.34
9	PIML Asset Allocation Fund	Sep 20, 2017	95.87	-7.43	2.35	0.52	0.89	1.71	-8.16	-11.29	-7.72	-5.53
10	Pak Oman Advantage Asset Allocation Fund	Sep 20, 2017	56.62	-11.31	1.91	0.27	0.89	0.84	-11.41	-16.26	-12.39	-0.71

Asset Allocation (%)

Asset Allocation Instruments (as % of total assets)

wdt_ID	Instruments	July-22	Jun-22	May-22
1	T-BILL	16.3%	16.2%	15.8%
2	TFC/Sukuks	10.9%	10.9%	10.6%
3	Placements with Banks & DIFs	0.0%	0.0%	0.0%
4	Equity	58.1%	54.7%	57.9%
5	Cash	9.0%	12.5%	9.5%
6	Others	5.6%	5.8%	6.2%
7	T-BILL	16.3%	16.2%	15.8%

Top 10 Equity Holdings

Sr.	Top 10 Equity Holdings (%age of total assets)	July-22
12	Systems Limited	4.2%
13	United Bank	4.2%
14	Fauji Fertilizer Company Limited	3.7%
15	Engro Fertilizers Limited.	3.6%
16	Pak Oilfields	3.5%
17	Mari Petroleum	3.5%
18	Meezan Bank	2.8%
19	MCB Bank Ltd	2.8%
20	TRG Pakistan Limited	2.7%
21	Pak Petroleum	2.6%

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	0.18%
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: 2.46	FYTD: 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	0.2% p.a. of net assets*
2	Over 1 billion	PKR 2.0 million plus

*This is applicable for the initial one year from the date of launching of the fund.

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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.