ifpf-mt 12-2019 13...2020/03/09 · hfy20 as compared to 5.98% in sply due to higher fuel, food and...
TRANSCRIPT
31, 2019
1
7
2
8
9
11
13
19
23
25
43
44
Condensed Interim Statement of Comprehensive Income (Un-audited)
Non-Executive Director Non-Executive Director Non-Executive Director Independent DirectorIndependent DirectorCEO/Executive Director
The Board of Directors of ABL Asset Management Company Limited, the management company of ABL Islamic
Financial Planning Fund (ABL-IFPF), is pleased to present the Condensed Interim Financial Statements (un-audited) of ABL Islamic Financial Planning Fund for the half year
ended December
31, 2019.
ECONOMIC PERFORMANCE REVIEW
successfully brought under control b
the same period last year (SPLY). The government is holding a tight control over the preventable imports by enforcing higher regulatory duties while the reduction in the CEPC
an impressive growth in export volumes but there is a dire need of enhancing exports in US Dollar terms as well. If the Govt. continues to manage CAD by just curbing imports, it will hurt
more
the period. Moreover, the country has received USD 1.28bn direct investment representing a re building up and reported
at 21-month high of USD 17.93bn (SBP: USD 11.34bn, Commercial Banks: USD 6.59bn) as at Dec 31, 2019, providing an import cover of ~4 months. Funds received from friendly countries,
r renewal licenses supported the reserves.
government. During the period of Jul-Oct 2019, the
Automobile (-36.07%), Iron and Steel Products (-14.97%), Coke & Petroleum Products (-13.77%), Pharmaceuticals (-10.28%) remained prominent due lower construction activities in the country and the weak purchasing power of the nation. However, it’s worth mentioning that the textile sector performed well, up 18%YoY, after declining by 14% in last year amid competitiveness granted by the devaluation.
elevated electricity and
devaluation. The increase in the fuel, electricity & gas prices and house index adjustment is expected to further increase the CPI in the the FY20 to remain in the double digit. The real interest rate has narrowed to 0.62% which rule out any rate cut before May’20, we believe.
of limited growth in tax revenue while most of the savings were eroded by higher debt servicing. The government is
target to PKR 5.24tr from PKR 5.50tr.
Going forward, the implementation of second phase of FTA between China and Pakistan in Jan’20 will be highly positive for the growth in exports and further cutting down the CAD. Further, any rate cut will push the growth back on track and create the positive sentiments among investors.
MUTUAL FUND INDUSTRY REVIEW
Total assets
under management (AUMs) of open-end mutual fund industry posted a massive
growth of 29% during 1HFY20 (from PKR 572 billion to PKR 705 billion), mainly on account of uding
Conventional and Islamic equity witnessed a mammoth growth of 15.22% in AUM to close the period at PKR191 billion. This growth can primarily be attributed to the strong market performance where inversion in the yield curve, the expectation of monetary easing and signs of
funds including both Conventional and Islamic funds posted growth of 37.00% to close the half-year at PKR 386 billion AUM. Appetite for -year high-interest rates.
EQUITY MARKET REVIEW
During 1HFY20, KMI-30 index showed a remarkable performance and bounced back as one of the best performing market in the world surging by almost 22.01%. After the two years of
consecutive negative return, KMI-points. This remarkable performance of KMI-30 index can be attributable to emerging signs of stability in economy and a number of positive developments such as
cumulative CAD for the
period of Jul-Nov 2019 dropping by 73% to USD 1.82bn from USD 6.73bn in SPLY, higher tax collection, foreign investment in money market and successful IMF review. SBP after raising policy rate by further 100bps in July’19 decided to
maintain the course for the rest of period under review. Moreover, market was buoyed by IMFs successive quarterly reviews.
bought USD 8.02mn worth of shares
while on the local front individual investors and other organization remained on the forefront with net buying of worth USD 140.8mn and USD 14.21mn, respectively. On the other hand, banks massively sold of USD 90.75mn worth of shares. After Aug’19, market witnessed the bullish run where the major index contribution came from oil & gas exploration companies, fertilizers, investment companies, and cements, each contributed 3,606, 3,365, 1,275 and 1,066 points respectively. Going forward, we believe market will perform because Pakistan has already
exby FATF. Market is trading at an attractive trading twelve month (TTM) P/E multiple of 7.2x and dividend yield of 7.6%.
Money Market Review
During the period under view, the money market took a break from the upward trend observed during the FY19, as the sentiment turned from doom and gloom to optimism, market participants started to increase the duration of their portfolio. This resulted in the inversion of yield curve which is signaling the market expectations of rate cuts in the future. However, SBP after raising
HFY20 as compared to 5.98% in SPLY due to higher fuel, food and electricity prices on the back of depreciated PKR.
Pakistan investment bonds (PIBs) trading yields came down from 13.72% to 11.00%, with a o lock in higher interest rates for the future.
During the year, the money market witnessed a seasonal lack of liquidity as SBP continued with
lender of worth PKR 975 billion under a single reverse repo arrangement at a cut-13.31%.
-bills side, the 3-
- -bill came down by ~90bps
10.95% respectively.
FUND PERFORMANCE
ABL Islamic Financial Planning fund has six Allocation Plans based on the risk appetite of
Plan”, “Capital preservation plan I ”.
Conservative Allocation Plan
through a pre-determined mix of shariah compliant investments in equity and income fund. During – Conservative Plan’s AUM stood at PKR 25.02 -IFPF Conservative Plan posted an absolute return of 5.55% during the period under review.
Aggressive Allocation Plan
Aggressive Allocation Plan primarily aims to provide potentially high capital growth through a
pre-determined high exposure in shariah compliant equity funds and residual exposure in Islamic Income funds.
t PKR. 54.45 -IFPF -
Aggressive Plan posted an absolute return of 9.62% during the period under review.
Active Allocation Plan
between Islamic Equity and
the asset classes.
PKR
557.14 -12.18% during the period under review.
Strategic Allocation Plan
Strategic Allocation Plan aims to earn a potentially high return through active allocation of funds between Islamic Equity and Islamic Income schemes based on fundamental analysis of economic indicators, underlying asset values and a strategy of risk aversion to market volatility.
During the period under review, ABL Islamic Financial Planning Fund –
Strategic Allocation Plan’s AUM stood at PKR
196.58mn. Strategic Allocation Plan posted an absolute return of
14.4% during the period under review.
Strategic Allocation Plan III
Strategic Allocation Plan III aims to earn a potentially high return through active allocation of funds between Islamic Equity and Islamic Income schemes based on fundamental analysis of
economic indicators, underlying asset values and a strategy of risk aversion to market volatility.
During the period under review, ABL Islamic Financial Planning Fund – AUM size of Strategic Allocation Plans III stood at PKR 45.56mn. Strategic Allocation Plan III posted an absolute return of 14.03% during the period under review.
Capital preservation plan I
The objective of ABLIFPF -
Capital Preservation Plan –I (ABLCPP-I) aims to earn a potentially
high return through dynamic asset allocation between Shariah Compliant Equities, Shariah
Compliant Sovereign Income/Money Market based Collective Investment Schemes, and deposit
Investment Value (including Front-end sales load) at completion of initial/subsequent maturity of the Plan.
During the period under review, ABL Islamic Financial Planning Fund –
AUM size of Capital preservation plan I stood at PKR
422.32mn. Capital preservation plan I
posted an absolute return of 10.49 % during the period under review.
AUDITORS
Co. (Chartered Accountants), have been re-appointed as auditors for the year ending June 30, 2020 for ABL Islamic Financial Planning Fund (ABL-IFPF).
MANAGEMENT QUALITY RATING
On December 31, 2019, JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaManagement Quality Rating of ABL Asset Management Company Limited (ABL AMC) at
‘AM2++’ (AM-Two-Double Plus). Outlook on the assigned rating is ‘Stable’.
OUTLOOK
The theme of economic stabilization is expected to continue which will drive the Pakistani equity
Y to USD 2.2bn. On top of that, improving foreign exchange reserves and import cover continues to keep investor sentiment
buoyed providing the impetus for a sustainable bullish stretch in the market. Considerable
room.
to pave way for the next leg of the rally. We highlight the upcoming FATF review as a catalyst that co
implementation of FATF’s 27 points. This fact coupled with evident support from key nations
front will likely enhance foreign investor sentiments with a particular interest towards MSCI plays in index heavy stocks like OGDC, HBL, MCB, ENGRO, UBL, LUCK, and PPL.
A sustainable rally is expected after June 2020 when the monetary easing would be closer on the horizon and underlying demand dynamics shall begin to improve.
ACKNOWLEDGEMENT
(MCB Financial Services Limited)
and the management of Pakistan Stock Exchange Limited for their continued
team.
For & on behalf of the Board
Lahore, February 04, 2020
AB
L I
SL
AM
IC F
INA
NC
IAL
PL
AN
NIN
G F
UN
D
Not
e
AS
SE
TS
Bal
ance
s w
ith
ban
ks
41
9,1
00
,15
5
2
,01
3,5
19
2,8
15
,92
4
1,0
56
,34
5
1
,52
4,2
72
4
,40
8,3
22
30,9
18,5
37
Inve
stm
ents
55
44
,67
4,8
55
5
4,3
57
,42
8
22
,45
0,0
36
1
98
,45
6,9
92
4
4,2
51,2
52
418
,244
,867
1,2
82
,435
,430
8,3
20
6,1
49
4,7
38
6,8
72
1
6,4
95
133
,753
1
76
,327
Rec
eiva
ble
aga
inst
sal
e of
inve
stm
ent
-
-
-
6
,00
0,0
00
-
-
6
,000
,000
P
rep
aym
ents
5,8
93
82
6
27
0
2,5
90
3
,55
4
6,3
25
1
9,4
58
67
,55
6
-
76
1,6
18
-
-
-
7
69
,174
T
otal
ass
ets
56
3,7
96
,77
9
56
,37
7,9
22
2
6,0
32
,58
6
20
5,5
22
,79
9
45
,79
5,5
73
422
,793
,267
1,3
20
,318
,926
LIA
BIL
ITIE
S
- M
anag
emen
t C
omp
any
72
97
,01
1
92
,13
5
45
,91
8
13
3,9
51
10
2,9
56
306
,234
978
,205
4
7,3
73
3,9
30
2,2
01
21
,89
1
5,7
57
32,5
82
11
3,7
34
52
,88
0
6,4
33
3,0
22
25
,50
3
19,1
54
40,8
15
147
,807
Acc
rued
exp
ense
s an
d o
ther
lia
bil
itie
s8
6,2
36
,17
4
1,8
20
,02
9
96
3,5
88
2,7
70
,86
3
10
6,6
53
92,7
71
11
,990
,078
Pay
able
aga
inst
red
empti
on o
f un
its
19
,26
7
-
-
5,9
82
,44
3
-
-
6,0
01
,710
Tot
al l
iabi
liti
es
6,6
52
,70
5
1,9
22
,52
7
1,0
14
,72
9
8,9
34
,65
1
23
4,5
20
472
,402
19,2
31,5
34
55
7,1
44
,07
4
54
,45
5,3
95
25
,01
7,8
57
19
6,5
88
,14
8
45
,56
1,0
53
422
,320
,865
1,3
01
,087
,392
55
7,1
44
,07
4
54
,45
5,3
95
25
,01
7,8
57
19
6,5
88
,14
8
45
,56
1,0
53
422
,320
,865
1,3
01
,087
,392
9-
-
-
-
-
-
-
NU
MB
ER
OF
UN
ITS
IN
IS
SU
E5
,23
9,3
29
51
4,3
28
21
2,9
54
1,6
81
,08
7
40
8,7
26
3,8
20
,929
10
6.3
38
8
10
5.8
76
7
11
7.4
79
9
11
6.9
41
1
11
1.4
71
0
11
0.5
283
10
0.0
00
01
00
.00
00
10
0.0
00
01
00
.00
00
10
0.0
00
01
00
.000
0
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- N
um
ber
of
un
its
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Ru
pee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- D
ecem
ber
31
, 2
01
9 -
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Un
-au
dit
ed -
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
Str
ateg
ic
All
oca
tion
Pla
n I
II
Cap
ital
Pre
serv
atio
n P
lan
- I
Tot
al
Pay
able
to
Sec
uri
ties
and
Exc
hang
e C
om
mis
sion
of
Pak
ista
n
Act
ive
All
ocat
ion
Pla
n
Con
serv
ativ
e
All
oca
tio
n
Pla
n
Ag
gre
ssiv
e
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
up
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
For
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed
(M
anag
emen
t C
omp
any)
____
____
____
____
____
____
___
____
____
____
____
____
____
___
___
____
____
____
____
____
____
Saq
ib M
atee
n
A
lee
Kh
alid
Gh
azn
avi
Per
vaiz
Iq
bal
Bu
tt
Chi
ef F
inan
cial
Off
icer
Chi
ef E
xecu
tive
Off
icer
Dir
ecto
r
AB
L I
SL
AM
IC F
INA
NC
IAL
PL
AN
NIN
G F
UN
D(C
onti
nued
)S
TA
TE
ME
NT
OF
AS
SE
TS
AN
D L
IAB
ILIT
IES
A
S A
T D
EC
EM
BE
R 3
1, 2
019
Not
eA
SS
ET
S
Bal
ance
s w
ith
bank
s4
10,5
49,5
38
2,
781,
233
3,
659,
968
4,
522,
498
10
,219
,841
1,32
2,13
9
1,27
8,92
2
18,7
65,4
24
53
,099
,563
Inve
stm
ents
557
1,70
4,01
1
82,7
91,5
12
31
,574
,359
254,
149,
837
23
3,52
1,25
8
354,
678,
490
36
0,55
4,94
7
378,
307,
930
2,
267,
282,
344
P
repa
ymen
ts-
-
-
-
-
-
-
-
-
R
ecei
vabl
e ag
ains
t sal
es o
f in
vest
men
t-
-
-
-
-
-
-
-
-
7,
815
7,86
8
7,
807
16
,347
13,6
20
16
,395
8,62
3
62,7
96
14
1,27
2
611
,543
-
1,
156,
416
-
-
-
-
-
1,
167,
958
T
otal
ass
ets
582,
272,
907
85,5
80,6
14
36,3
98,5
49
258,
688,
682
243,
754,
719
356,
017,
024
361,
842,
492
397,
136,
150
2,32
1,69
1,13
7
L
IAB
ILIT
IES
16,1
66
54,4
45
31,9
92
5,10
5
4,35
2
1,79
6
208,
607
230,
679
553,
141
69
,766
7,08
8
3,00
4
26,5
95
29,6
16
29,8
76
30,8
88
32,5
80
229,
413
981,
542
151,
941
75,7
80
462,
358
541,
242
469,
409
495,
492
96,2
75
3,27
4,03
9
Acc
rued
exp
ense
s an
d ot
her
liab
ilit
ies
86,
180,
678
1,80
1,97
2
1,09
2,25
8
2,77
9,98
6
286,
481
97,8
78
69,8
05
1,37
3,18
1
13,6
82,2
38
Pay
able
aga
inst
red
empt
ion
of u
nits
3,57
3,15
6
-
-
-
4,22
5,04
0
-
-
-
7,79
8,19
6
Tot
al li
abil
itie
s 10
,821
,307
2,01
5,44
5
1,20
3,03
4
3,27
4,04
4
5,08
6,73
1
598,
959
804,
792
1,73
2,71
5
25,5
37,0
27
NE
T A
SS
ET
S57
1,45
1,60
0
83,5
65,1
69
35,1
95,5
16
255,
414,
638
238,
667,
988
355,
418,
065
361,
037,
699
395,
403,
435
2,29
6,15
4,11
0
UN
IT H
OL
DE
RS
’ F
UN
D (
AS
PE
R S
TA
TE
ME
NT
AT
TA
CH
ED
)57
1,45
1,60
0
83,5
65,1
69
35,1
95,5
16
255,
414,
638
238,
667,
988
355,
418,
065
361,
037,
699
395,
403,
435
2,29
6,15
4,11
0
CO
NT
ING
EN
CIE
S A
ND
CO
MM
ITM
EN
TS
9
NU
MB
ER
OF
UN
ITS
IN
IS
SU
E6,
028,
283
865,
207
316,
215
2,49
8,60
0
2,63
6,22
5
3,63
5,75
8
3,57
4,02
1
3,95
2,80
4
NE
T A
SS
ET
VA
LU
E P
ER
UN
IT
94.7
951
96.5
840
111.
3026
102.
2231
90.5
340
97.7
563
101.
0172
100.
0311
100.
0000
100.
0000
100.
0000
100.
0000
100.
0000
100.
0000
100.
0000
100.
0000
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Pay
able
to
AB
L A
sset
Man
agem
ent
Com
pany
Lim
ited
-
Man
agem
ent
Com
pany
7
Pay
able
to
Sec
urit
ies
and
Exc
hang
e C
omm
issi
on o
f P
akis
tan
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Num
ber
of u
nits
---
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
June
30,
201
9 (A
udit
ed)
Act
ive
Allo
cati
on
Pla
n
Agg
ress
ive
Allo
cati
on
Pla
n
Con
serv
ativ
e
Allo
cati
on
Pla
n
Str
ateg
ic
Allo
cati
on
Pla
n
Str
ateg
ic
Allo
cati
on
Pla
n -
II
Str
ateg
ic
Allo
cati
on
Pla
n -
III
Str
ateg
ic
Allo
cati
on
Pla
n -
IV
Cap
ital
Pre
serv
atio
n
Pla
n I
Tot
al
For
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed
(M
anag
emen
t C
omp
any)
____
____
____
____
____
____
___
____
____
____
____
____
____
___
___
____
____
____
____
____
____
Saq
ib M
atee
n
A
lee
Kh
alid
Gh
azn
avi
Per
vaiz
Iq
bal
Bu
tt
Chi
ef F
inan
cial
Off
icer
Chi
ef E
xecu
tive
Off
icer
Dir
ecto
r
AB
L I
SL
AM
IC F
INA
NC
IAL
PL
AN
NIN
G F
UN
D
For
the
peri
od
ende
d
Sep
tem
ber
8, 2
019
(ref
er n
ote
1.2.
5)
For
the
hal
f ye
ar
ende
d
Dec
embe
r
31, 2
019
For
the
peri
od
ende
d
Sep
tem
ber
17, 2
019
(ref
er n
ote
1.2.
7)
Not
e
INC
OM
E
169,
632
34,8
77
49,5
91
70,3
22
57,9
13
326,
722
153
331,
118
1,04
0,32
8
Div
iden
d in
com
e-
-
-
-
-
-
-
-
-
Con
ting
ent l
oad
inco
me
-
-
-
-
-
-
-
110,
329
11
0,32
9
169,
632
34
,877
49
,591
70,3
22
57,9
13
32
6,72
2
153
441,
447
1,15
0,65
7
Cap
ital
gai
n /
(los
s) o
n sa
le o
f in
vest
men
ts -
net
3,08
8,41
1
18
7,01
7
212,
234
11,4
51,8
48
(7,5
34,5
11)
9,
981,
113
5,02
3,83
8
6,12
0,73
8
28,5
30,6
88
Unr
eali
sed
gain
/ (l
oss)
on
re-m
easu
rem
ent
of in
vest
men
ts5.
1.1
55,9
82,4
33
4,67
8,89
9
1,
663,
442
22
,661
,281
-
4,
957,
131
-
34,6
16,2
00
12
4,55
9,38
659
,070
,844
4,
865,
916
1,87
5,67
6
34,1
13,1
29
(7,5
34,5
11)
14
,938
,244
5,
023,
838
40,7
36,9
38
15
3,09
0,07
4T
otal
inco
me
/ (l
oss)
59,2
40,4
76
4,90
0,79
3
1,
925,
267
34
,183
,451
(7
,476
,598
)
15,2
64,9
66
5,02
3,99
1
41,1
78,3
85
15
4,24
0,73
1
EX
PE
NS
ES
- M
anag
emen
t C
ompa
ny7.
124
,872
7,38
96,
947
13,0
5912
,111
9,03
137
126,
828
200,
274
7.2
3,98
01,
182
1,11
22,
089
1,93
91,
445
620
,334
32,0
87
Rei
mbu
rsem
ent
of o
pera
tion
al e
xpen
se t
o th
e M
anag
emen
t C
ompa
ny7.
426
4,36
932
,172
15,1
1712
7,48
243
,113
95,8
0871
,581
204,
057
853,
699
204,
680
23,8
0411
,788
99,9
0827
,734
70,4
6751
,632
159,
263
649,
276
26,6
083,
255
1,53
412
,990
3,59
79,
163
6,71
120
,706
84,5
64A
nnua
l fe
e -
Sec
urit
ies
and
Exc
hang
e C
omm
issi
on o
f P
akis
tan
52,8
806,
433
3,02
325
,503
8,60
819
,153
14,3
0240
,815
170,
717
Aud
itor
s' r
emun
erat
ion
34,5
806,
630
4,60
415
,284
6,53
320
,255
9,25
153
,339
150,
476
6.1
3,98
7-
394,
798
-
-
-
-
-
398,
785
Pri
ntin
g ch
arge
s25
,059
3,90
72,
008
11,0
82-
14,7
006,
678
17,2
6980
,703
Lis
ting
fee
3,45
754
528
01,
534
517
2,22
191
4-
9,46
8L
egal
fee
20,3
402,
992
1,19
58,
975
-
12,5
63-
13,5
7859
,643
Sha
riah
adv
isor
y fe
e62
,070
9,76
14,
974
27,5
121,
338
33,5
0916
,617
42,4
0419
8,18
5B
ank
char
ges
-
-
-
-
2,43
715
012
,951
-
15,5
38T
otal
ope
rati
ng e
xpen
ses
726,
882
98,0
70
447,
380
345,
418
107,
927
288,
465
190,
680
698,
593
2,90
3,41
5N
et in
com
e /
(los
s) f
or t
he p
erio
d fr
om o
pera
ting
act
ivit
ies
58,5
13,5
94
4,80
2,72
3
1,47
7,88
7
33,8
38,0
33
(7,5
84,5
25)
14,9
76,5
01
4,83
3,31
1
40,4
79,7
92
151,
337,
316
Tax
atio
n10
--
--
--
--
-
Net
inco
me
/ (l
oss)
for
the
per
iod
afte
r ta
xati
on58
,513
,594
4,80
2,72
31,
477,
887
33,8
38,0
33(7
,584
,525
)14
,976
,501
4,83
3,31
140
,479
,792
151,
337,
316
Oth
er c
ompr
ehen
sive
inc
ome
--
--
--
--
-
Tot
al c
ompr
ehen
sive
inco
me
/ (l
oss)
for
the
per
iod
(car
ried
for
war
d)58
,513
,594
4,80
2,72
31,
477,
887
33,8
38,0
33(7
,584
,525
)14
,976
,501
4,83
3,31
140
,479
,792
151,
337,
316
For
the
hal
f ye
ar e
nded
Dec
embe
r 31
, 201
9F
or t
he h
alf
year
end
ed
Dec
embe
r 31
, 201
9
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- U
n-au
dite
d -
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
Act
ive
All
ocat
ion
Pla
n
Con
serv
ativ
e
All
ocat
ion
Pla
n--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-
Tot
alA
ggre
ssiv
e
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n II
Str
ateg
ic
All
ocat
ion
Pla
n II
I
Str
ateg
ic
All
ocat
ion
Pla
n IV
Cap
ital
Pre
serv
atio
n
Pla
n -
I
(Con
tinue
d)
For t
he
peri
od
ende
d
Sept
embe
r
8, 2
019
(ref
er n
ote
1.2.
5)
For t
he
hal
f yea
r
ende
d
Dec
embe
r
31, 2
019
For t
he
peri
od
ende
d
Sept
embe
r
17, 2
019
(ref
er n
ote
1.2.
7)
Tota
l com
preh
ensi
ve in
com
e / (
loss
) for
the
perio
d (b
roug
ht fo
rwar
d)58
,513
,594
4,
802,
723
1,47
7,88
7
33,8
38,0
33
(7,5
84,5
25)
14
,976
,501
4,
833,
311
40,4
79,7
92
15
1,33
7,31
6
Earn
ings
per
uni
t11
Allo
catio
n of
Net
Inco
me
for t
he p
erio
d:
Net
inco
me
for t
he p
erio
d af
ter t
axat
ion
58,5
13,5
944,
802,
723
1,47
7,88
733
,838
,033
-
14,9
76,5
01-
40,4
79,7
92
Inco
me
alre
ady
paid
on
units
rede
emed
-
(379
,856
)
(164
,318
)
(9,0
95,7
38)
-
(9,3
66,2
68)
-
(465
,266
)
58,5
13,5
944,
422,
867
1,31
3,56
924
,742
,295
-
5,61
0,23
3-
40,0
14,5
26
Acc
ount
ing
inco
me
avai
labl
e fo
r dis
tribu
tion:
- Rel
atin
g to
cap
ital g
ains
59,0
70,8
44
4,86
5,91
6
1,87
5,67
6
34,1
13,1
29
-
14,9
38,2
44
-
40,7
36,9
38
-Exc
ludi
ng c
apita
l gai
ns(5
57,2
50)
(443
,049
)(5
62,1
07)
(9,3
70,8
34)
-
(9,3
28,0
11)
-
(722
,412
)
Acc
ount
ing
inco
me
avai
labl
e fo
r dis
tribu
tion:
58,5
13,5
944,
422,
867
1,31
3,56
924
,742
,295
-
5,61
0,23
3-
40,0
14,5
26
For t
he h
alf y
ear e
nded
Dec
embe
r 31,
201
9Fo
r the
hal
f yea
r end
ed
Dec
embe
r 31,
201
9
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--- U
n-au
dite
d --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
Act
ive
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
IV
Cap
ital
Pres
erva
tion
Plan
- I
Tota
l
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Agg
ress
ive
Allo
catio
n
Plan
Con
serv
ativ
e
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
II
Stra
tegi
c
Allo
catio
n
Plan
III
For
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed
(M
anag
emen
t C
omp
any)
____
____
____
____
____
____
___
____
____
____
____
____
____
___
___
____
____
____
____
____
____
Saq
ib M
atee
n
A
lee
Kh
alid
Gh
azn
avi
Per
vaiz
Iq
bal
Bu
tt
Chi
ef F
inan
cial
Off
icer
Chi
ef E
xecu
tive
Off
icer
Dir
ecto
r
AB
L I
SL
AM
IC F
INA
NC
IAL
PL
AN
NIN
G F
UN
D(C
onti
nued
)C
ON
DE
NS
ED
IN
TE
RIM
ST
AT
EM
EN
T O
F C
OM
PR
EH
EN
SIV
E I
NC
OM
E (
UN
-AU
DIT
ED
)F
OR
TH
E P
ER
IOD
EN
DE
D S
EP
TE
MB
ER
8, 2
019
, S
EP
TE
MB
ER
17,
201
9 A
ND
HA
LF
YE
AR
EN
DE
D D
EC
EM
BE
R 3
1, 2
01
9
Not
e
INC
OM
E
Pro
fit
on d
epos
its
wit
h ba
nks
58,
42
3
98,
02
8
47,
161
16
1,7
10
33
,91
7
52,
75
6
30,
928
482
,922
Div
iden
d in
com
e1
6,9
49,
540
3,0
85
,013
4,7
26,0
99
13
,20
0,5
96
16
,09
5,6
89
16,
53
4,05
3
20,
12
0,57
1
90,
711
,56
1
Co
ntin
gent
loa
d in
com
e-
-
-
-
-
-
80,
089
80,
089
17,
00
7,96
3
3,1
83
,041
4,7
73,2
60
13
,36
2,3
06
16
,12
9,6
06
16,
58
6,80
9
20,
23
1,58
8
91,
274,
573
Cap
ital
(lo
ss)
/ ga
in o
n sa
le o
f in
vest
men
ts -
net
(4,4
04,3
79)
447
,236
(1,8
61,
19
8)
76
2,4
03
(2,5
64
,82
0)
(4,4
76,2
72)
(7,3
33,3
78)
(19
,430
,408
)
Unr
eali
sed
gain
on
re-m
easu
rem
ent
of i
nves
tmen
ts"a
t fa
ir v
alue
th
roug
h p
rofi
t or
los
s -
net
5.1
.1(6
7,3
44
,013
)
(10
,61
7,1
97)
(2,0
14,6
09)
(23
,75
1,8
56
)
(36
,42
6,7
58
)
(24
,84
7,1
00)
(21
,62
8,9
81)
(18
6,63
0,51
4)
(71
,74
8,3
92)
(10
,16
9,9
61)
(3,8
75,
80
7)
(22
,98
9,4
53
)
(38
,99
1,5
78
)
(29
,32
3,3
72)
(28
,96
2,3
59)
(20
6,06
0,92
2)
Tot
al (
loss
) /
inco
me
(54
,74
0,4
29)
(6,9
86,9
20)
897
,453
(9,6
27
,14
7)
(22
,86
1,9
72
)
(12
,73
6,5
63)
(8,7
30,7
70)
(114
,786
,34
9)
EX
PE
NS
ES
18,
88
02
8,7
12
16,
824
36
,43
41
1,2
13
15,
95
01
0,59
21
38,6
05
Pun
jab
Sal
es T
ax o
n re
mun
erat
ion
of t
he M
anag
emen
t C
ompa
ny3
,00
84
,635
2,6
83
5,8
07
1,8
06
2,5
26
1,8
592
2,32
4
Rei
mb
urse
men
t of
op
erat
iona
l ex
pen
se t
o th
e M
anag
emen
t C
ompa
ny5
65,0
321
08,1
915
6,9
38
30
2,2
88
35
3,3
76
290
,521
317
,438
1,9
93,7
84
Fed
eral
Exc
ise
Dut
y on
rem
uner
atio
n of
the
Man
agem
ent
Com
pany
-
-
-
-
-
-
-
-
Rem
uner
atio
n of
MC
B F
inan
cial
Ser
vice
s L
imit
ed -
Tru
stee
4
17,4
348
1,3
79
43,
254
22
7,1
90
26
7,8
36
219
,894
238
,667
1,4
95,6
55
Sin
dh S
ales
Tax
on
rem
uner
atio
n of
Tru
stee
54,
28
61
0,5
81
5,6
26
29
,53
43
4,8
18
28,
58
63
1,02
61
94,4
57
Ann
ual
fee
- S
ecur
itie
s an
d E
xcha
nge
Com
mis
sion
of
Pak
ista
n5
36,6
381
02,7
635
4,0
92
28
7,1
48
33
5,6
48
275
,962
301
,544
1,8
93,7
94
A
udit
ors'
rem
uner
atio
n5
3,6
58
10,
17
85
,97
82
7,7
31
19
,87
71
4,3
45
22,
725
154
,492
Am
orti
zati
on o
f p
reli
min
ary
exp
ense
s an
d fl
oata
tion
cos
ts3
,98
7-
394
,798
-
-
-
-
398
,785
Pri
nti
ng c
harg
es3
0,6
42
6,6
083
,39
11
7,7
91
18
,72
71
5,4
14
21,
962
114
,53
5
Lis
ting
fee
3,6
80
832
970
2,3
00
2,4
95
2,9
11
-
13,
187
Sh
aria
h a
dvis
ory
fee
66,
99
91
4,8
89
7,4
43
39
,70
94
4,6
70
34,
74
13
9,70
92
48,1
60
Ban
k c
harg
es1
2,2
96
5,7
711
2,66
64
,82
24
,32
18
,46
71
9,47
16
7,81
4
Tot
al o
pera
ting
exp
ense
s1
,76
6,5
42
374
,538
604
,662
98
0,7
53
1,0
94
,78
6
909
,316
1,0
04
,993
6,7
35,5
91
Net
(lo
ss)
/ in
com
e fo
r th
e pe
riod
fro
m o
pera
ting
act
ivit
ies
(56
,50
6,9
71)
(7,3
61,4
59)
292
,790
(10
,60
7,9
00
)
(23
,95
6,7
58
)
(13
,64
5,8
80)
(9,7
35,7
63)
(12
1,52
1,94
0)
Tax
atio
n10
-
-
-
-
-
-
-
-
Net
(lo
ss)
/ in
com
e fo
r th
e pe
riod
aft
er t
axat
ion
(56
,50
6,9
71)
(7,3
61,4
59)
292
,790
(10
,60
7,9
00
)
(23
,95
6,7
58
)
(13
,64
5,8
80)
(9,7
35,7
63)
(12
1,52
1,94
0)
Oth
er c
omp
rehe
nsiv
e in
com
e-
-
-
-
-
-
-
-
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
up
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Rem
uner
atio
n of
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed -
Man
agem
ent
Com
pan
y
For
the
hal
f ye
ar e
nded
Dec
emb
er 3
1, 2
01
8 (
Un-
audi
ted)
Act
ive
All
ocat
ion
Pla
n
Agg
ress
ive
All
ocat
ion
Pla
n
Con
serv
ativ
e
All
ocat
ion
Pla
n
Str
ateg
ic
All
oca
tio
n
Pla
n
Str
ateg
ic
All
oca
tio
n
Pla
n I
I
Str
ateg
ic
All
ocat
ion
Pla
n II
I
Str
ateg
ic
All
ocat
ion
Pla
n IV
Tot
al
(Con
tinue
d)
Tot
al c
ompr
ehen
sive
(lo
ss)
/ in
com
e fo
r th
e pe
riod
(br
ought
for
war
d)(5
6,5
06
,971
)
(7,3
61,4
59)
292
,790
(10
,60
7,9
00)
(23
,95
6,7
58)
(13
,64
5,8
80
)
(9,7
35
,76
3)
(12
1,5
21,9
40)
E
arni
ngs
per
uni
t11
All
ocat
ion
of n
et i
ncom
e/(l
oss)
for
the
per
iod:
Net
inc
ome/
(los
s) f
or t
he p
erio
d af
ter
taxa
tion
(56
,50
6,9
71)
(7,3
61,4
59)
292
,790
(10
,60
7,9
00)
(23
,95
6,7
58)
(13
,64
5,8
80
)(9
,735
,76
3)
Inco
me
alre
ady
paid
on
unit
s re
deem
ed-
-
-
-
-
-
-
(56
,50
6,9
71)
(7,3
61,4
59)
292
,790
(10
,60
7,9
00)
(23
,95
6,7
58)
(13
,64
5,8
80
)(9
,735
,76
3)
Acc
ount
ing
inco
me/
(los
s) a
vail
able
for
dis
trib
utio
n:
- R
elat
ing
to c
apit
al g
ains
-
-
-
-
-
-
-
-Exc
ludi
ng c
apit
al g
ains
(56
,50
6,9
71)
(7,3
61,4
59)
292
,790
(10
,60
7,9
00)
(23
,95
6,7
58)
(13
,64
5,8
80
)(9
,735
,76
3)
Acc
ount
ing
inco
me
avai
labl
e fo
r di
stri
buti
on:
(56
,50
6,9
71)
(7,3
61,4
59)
292
,790
(10
,60
7,9
00)
(23
,95
6,7
58)
(13
,64
5,8
80
)(9
,735
,76
3)
The
ann
exed
not
es 1
to
15 f
orm
an
inte
gral
par
t of
the
se c
onde
nsed
int
erim
fina
ncia
l st
atem
ents
.
For
the
hal
f ye
ar e
nded
Dec
embe
r 3
1, 2
018
(U
n-au
dit
ed)
Act
ive
All
ocat
ion
Pla
n
Agg
ress
ive
All
ocat
ion
Pla
n
Con
serv
ativ
e
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n II
Str
ateg
ic
All
oca
tion
Pla
n I
II
Str
ateg
ic
All
oca
tion
Pla
n I
V
Tota
l
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-
For
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed
(M
anag
emen
t C
omp
any)
____
____
____
____
____
____
___
____
____
____
____
____
____
___
___
____
____
____
____
____
____
Saq
ib M
atee
n
A
lee
Kh
alid
Gh
azn
avi
Per
vaiz
Iq
bal
Bu
tt
Chi
ef F
inan
cial
Off
icer
Chi
ef E
xecu
tive
Off
icer
Dir
ecto
r
AB
L IS
LA
MIC
FIN
AN
CIA
L PL
AN
NIN
G F
UN
DC
ON
DE
NSE
D IN
TE
RIM
ST
AT
EM
EN
T O
F C
OM
PRE
HE
NSI
VE
INC
OM
E (U
N-A
UD
ITE
D)
Not
e
INC
OM
E
38,4
56
10
,015
21,8
25
20
,365
306,
934
25
5,19
2
652,
785
Div
iden
d in
com
e-
-
-
-
-
-
-
Con
tinge
nt lo
ad in
com
e-
-
-
-
-
-
-
38,4
56
10
,015
21,8
25
20
,365
306,
934
25
5,19
2
652,
785
Cap
ital g
ain
on s
ale
of in
vest
men
ts -
net
7,02
4,70
2
1,01
9,97
6
214,
577
10
,620
,762
9,82
2,10
8
2,60
9,01
5
31,3
11,1
39
Unr
ealis
ed g
ain
/ (lo
ss) o
n re
-mea
sure
men
t of i
nves
tmen
ts5.
1.1
67,5
41,4
38
5,92
0,39
0
1,24
7,64
1
15,3
61,3
68
(2
,354
,919
)
23
,219
,478
110,
935,
398
74,5
66,1
41
6,94
0,36
6
1,46
2,21
8
25,9
82,1
30
7,
467,
189
25
,828
,493
142,
246,
537
74
,604
,597
6,95
0,38
1
1,48
4,04
3
26,0
02,4
95
7,
774,
122
26
,083
,684
142,
899,
322
EX
PEN
SES
Rem
uner
atio
n of
AB
L A
sset
Man
agem
ent C
ompa
ny L
imite
d- M
anag
emen
t Com
pany
7.1
14,9
423,
761
2,50
84,
094
5,03
863
,798
94,1
41
7.2
2,39
160
140
165
580
610
,230
15,0
84
Rei
mbu
rsem
ent o
f ope
ratio
nal e
xpen
se to
the
Man
agem
ent C
ompa
ny7.
413
3,92
814
,932
6,72
164
,202
18,9
0610
3,41
334
2,10
2
111,
036
11,0
815,
476
53,0
5513
,421
83,3
6927
7,43
814
,434
1,60
271
36,
899
1,74
710
,840
36,2
34A
nnua
l fee
- Se
curi
ties
and
Exc
hang
e C
omm
issi
on o
f Pak
ista
n26
,826
2,99
01,
345
12,8
543,
785
20,6
9768
,497
Aud
itors
' rem
uner
atio
n17
,281
3,96
11,
382
7,60
410
,368
11,8
7952
,475
6.1
1,99
3-
197,
399
-
-
-
19
9,39
2Pr
intin
g ch
arge
s12
,568
1,99
41,
008
5,53
07,
541
8,64
037
,281
List
ing
fee
1,72
827
413
876
11,
109
-
4,
010
Shar
iah
advi
sory
fee
31,0
224,
907
2,48
013
,648
18,6
1321
,324
91,9
94B
ank
char
ges
-
-
-
-
150
-
15
036
8,14
8
46
,104
219,
573
16
9,30
1
81,4
83
33
4,18
9
1,21
8,79
8
Net
inco
me
for t
he p
erio
d fr
om o
pera
ting
activ
ities
74,2
36,4
49
6,90
4,27
7
1,26
4,47
0
25,8
33,1
93
7,
692,
639
25
,749
,495
141,
680,
523
10
-
-
-
-
-
-
-
N
et in
com
e fo
r the
per
iod
afte
r tax
atio
n74
,236
,449
6,
904,
277
1,
264,
470
25
,833
,193
7,69
2,63
9
25,7
49,4
95
14
1,68
0,52
3
Oth
er c
ompr
ehen
sive
inco
me
-
-
-
-
-
-
-
74,2
36,4
49
6,90
4,27
7
1,26
4,47
0
25,8
33,1
93
7,
692,
639
25
,749
,495
141,
680,
523
Stra
tegi
c
Allo
catio
n
Plan
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Un-
audi
ted
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
For t
he q
uart
er e
nded
Dec
embe
r 31,
201
9
Stra
tegi
c
Allo
catio
n
Plan
III
Cap
ital
Pres
erva
tion
Plan
- I
Act
ive
Allo
catio
n
Plan
Agg
ress
ive
Allo
catio
n
Plan
Con
serv
ativ
e
Allo
catio
n
Plan
Tot
al c
ompr
ehen
sive
inco
me
for t
he p
erio
d (b
roug
ht fo
rwar
d)74
,236
,449
6,90
4,27
7
1,26
4,47
0
25,8
33,1
93
7,
692,
639
25
,749
,495
141,
680,
523
Ear
ning
s pe
r uni
t
Allo
catio
n of
Net
Inco
me
for t
he p
erio
d:
Net
inco
me
for t
he p
erio
d af
ter t
axat
ion
58,5
13,5
94
4,80
2,72
3
1,26
3,27
5
25,8
24,2
18
14
,976
,501
25,7
49,4
95
Inco
me
alre
ady
paid
on
units
rede
emed
-
(379
,856
)
(1
61,7
34)
(8,9
78,4
94)
(9,3
66,2
68)
(450
,628
)
58,5
13,5
94
4,42
2,86
7
1,10
1,54
1
16,8
45,7
24
5,
610,
233
25
,298
,867
Acc
ount
ing
inco
me
avai
labl
e fo
r dis
trib
utio
n:- R
elat
ing
to c
apita
l gai
ns74
,566
,141
6,94
0,36
6
1,46
2,21
8
25,9
82,1
30
7,
467,
189
25
,828
,493
-Exc
ludi
ng c
apita
l gai
ns(1
6,05
2,54
7)
(2
,517
,499
)
(3
60,6
77)
(9,1
36,4
06)
(1,8
56,9
56)
(529
,625
)
Acc
ount
ing
inco
me
avai
labl
e fo
r dis
trib
utio
n:58
,513
,594
4,42
2,86
7
1,10
1,54
1
16,8
45,7
24
5,
610,
233
25
,298
,867
Act
ive
Allo
catio
n
Plan
Agg
ress
ive
Allo
catio
n
Plan
Con
serv
ativ
e
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
III
Cap
ital
Pres
erva
tion
Plan
- I
Tot
al
For t
he q
uart
er e
nded
Dec
embe
r 31,
201
9
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
U
n-au
dite
d --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
11
For
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed
(M
anag
emen
t C
omp
any)
____
____
____
____
____
____
___
____
____
____
____
____
____
___
___
____
____
____
____
____
____
Saq
ib M
atee
n
A
lee
Kh
alid
Gh
azn
avi
Per
vaiz
Iq
bal
Bu
tt
Chi
ef F
inan
cial
Off
icer
Chi
ef E
xecu
tive
Off
icer
Dir
ecto
r
AB
L I
SL
AM
IC F
INA
NC
IAL
PL
AN
NIN
G F
UN
DC
onti
nued
FO
R T
HE
PE
RIO
D E
ND
ED
SE
PT
EM
BE
R 8
,201
9 , S
EP
TE
MB
ER
17,
201
9 A
ND
QU
AR
TE
R E
ND
ED
DE
CE
MB
ER
31,
201
9
Not
e
INC
OM
E
31,7
03
59,5
99
23,1
78
135,
011
15,4
32
34,4
00
23,3
51
322,
674
Div
iden
d in
com
e-
-
-
-
-
-
-
-
Con
ting
ent l
oad
inco
me
-
-
-
-
-
-
-
-
31,7
03
59,5
99
23,1
78
135,
011
15,4
32
34
,400
23
,351
32
2,67
4
Cap
ital
gai
n on
sal
e of
inve
stm
ents
- n
et(3
,929
,720
)
61
7,29
4
(753
,467
)
1,85
5,35
3
(1
,835
,408
)
(3
,021
,273
)
(5
,504
,882
)
(1
2,57
2,10
3)
-
Unr
ealis
ed g
ain
on r
e-m
easu
rem
ent o
f in
vest
men
ts5.
1.1
(57,
185,
381)
(8
,756
,513
)
33
8,31
8
(1
5,61
6,13
1)
(27,
165,
523)
(1
4,95
1,61
7)
(9,6
71,1
98)
(133
,008
,045
)
(61,
115,
101)
(8
,139
,219
)
(4
15,1
49)
(1
3,76
0,77
7)
(29,
000,
931)
(1
7,97
2,89
0)
(15,
176,
079)
(1
45,5
80,1
47)
Tota
l los
s (6
1,08
3,39
8)
(8,0
79,6
20)
(391
,971
)
(13,
625,
767)
(2
8,98
5,49
9)
(17,
938,
490)
(1
5,15
2,72
8)
(145
,257
,474
)
EX
PE
NS
ES
7.1
10,2
5616
,136
8,06
327
,419
5,11
78,
083
8,15
983
,233
Pun
jab
Sal
es T
ax o
n re
mun
erat
ion
of th
e M
anag
emen
t Com
pany
7.2
1,63
92,
616
1,28
34,
374
820
1,28
31,
459
13,4
74
R
eim
burs
emen
t of
oper
atio
nal e
xpen
se to
the
Man
agem
ent C
ompa
ny7.
427
1,07
245
,864
24,3
0813
0,13
616
8,60
413
7,73
114
2,13
191
9,84
7
Fede
ral E
xcis
e D
uty
on r
emun
erat
ion
of th
e M
anag
emen
t Com
pany
7.3
-
-
-
-
-
-
-
-
R
emun
erat
ion
of M
CB
Fin
anci
al S
ervi
ces
Lim
ited
- T
rust
ee
194,
405
31,2
0716
,859
88,6
9511
9,76
797
,384
98,9
1964
7,23
5
Sin
dh S
ales
Tax
on
rem
uner
atio
n of
Tru
stee
25,2
734,
058
2,19
311
,531
15,5
6912
,660
12,8
5884
,143
Ann
ual f
ee -
Sec
urit
ies
and
Exc
hang
e C
omm
issi
on o
f P
akis
tan
257,
360
43,5
5023
,091
123,
594
160,
099
130,
798
134,
985
873,
476
A
udit
ors'
rem
uner
atio
n34
,096
5,97
93,
880
16,5
357,
953
4,60
48,
566
81,6
13
6.1
1,99
4-
197,
399
-
-
-
-
199,
393
P
rint
ing
char
ges
2,44
455
936
61,
659
1,55
51,
300
1,51
99,
403
L
isti
ng f
ee1,
840
416
485
1,15
01,
248
1,45
5-
6,59
3
L
egal
Fee
-
-
-
-
-
-
-
-
S
hari
ah a
dvis
ory
fee
33,5
007,
446
3,72
219
,855
22,3
3517
,370
19,8
5512
4,08
2
B
ank
char
ges
4,83
12,
986
9,68
53,
508
2,74
24,
642
14,9
5243
,346
Tota
l ope
rati
ng e
xpen
ses
838,
710
160,
818
291,
333
428,
455
50
5,80
9
417,
310
443,
404
3,08
5,83
8
N
et lo
ss f
or th
e pe
riod
fro
m o
pera
ting
act
ivit
ies
(61,
922,
108)
(8,2
40,4
38)
(683
,305
)
(14,
054,
221)
(29,
491,
307)
(18,
355,
800)
(15,
596,
132)
(148
,343
,312
)
Taxa
tion
10-
-
-
-
-
-
-
-
Net
(lo
ss)
/ inc
ome
for
the
peri
od a
fter
taxa
tion
(61,
922,
108)
(8,2
40,4
38)
(683
,305
)
(14,
054,
221)
(29,
491,
307)
(18,
355,
800)
(15,
596,
132)
(148
,343
,312
)
Oth
er c
ompr
ehen
sive
inco
me
-
-
-
-
-
-
-
-
Tota
l com
preh
ensi
ve (
loss
) / i
ncom
e fo
r th
e pe
riod
(ca
rrie
d fo
rwar
d)(6
1,92
2,10
8)(8
,240
,438
)(6
83,3
05)
(14,
054,
221)
(29,
491,
307)
(18,
355,
800)
(15,
596,
132)
(148
,343
,312
)
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-
Rem
uner
atio
n of
AB
L A
sset
Man
agem
ent C
ompa
ny L
imit
ed-
Man
agem
ent C
ompa
ny
For
the
quar
ter
ende
d D
ecem
ber
31, 2
018
(Un-
audi
ted)
Act
ive
Allo
cati
on
Pla
n
Agg
ress
ive
Allo
cati
on
Pla
n
Con
serv
ativ
e
Allo
cati
on
Pla
n
Str
ateg
ic
Allo
cati
on
Pla
n
Str
ateg
ic
Allo
cati
on
Pla
n II
Str
ateg
ic
Allo
cati
on
Pla
n II
I
Str
ateg
ic
Allo
cati
on
Pla
n IV
Tota
l
Con
tinue
d
Tota
l com
preh
ensi
ve (
loss
) / i
ncom
e fo
r th
e pe
riod
(br
ough
t for
war
d)(6
1,92
2,10
8)
(8,2
40,4
38)
(6
83,3
05)
(14,
054,
221)
(2
9,49
1,30
7)
(18,
355,
800)
(1
5,59
6,13
2)(1
48,3
43,3
12)
Ear
ning
s pe
r un
it11
Allo
catio
n of
Net
Inc
ome
for
the
peri
od:
Net
inco
me
for
the
peri
od a
fter
taxa
tion
-
-
-
-
-
-
-
Inco
me
alre
ady
paid
on
units
red
eem
ed-
-
-
-
-
-
-
-
-
-
-
-
-
-
Acc
ount
ing
inco
me
avai
labl
e fo
r di
stri
butio
n:-
Rel
atin
g to
cap
ital g
ains
-
-
-
-
-
-
-
-Exc
ludi
ng c
apita
l gai
ns-
-
-
-
-
-
-
Acc
ount
ing
inco
me
avai
labl
e fo
r di
stri
butio
n:-
-
-
-
-
-
-
For
the
quar
ter
ende
d D
ecem
ber
31, 2
018
(Un-
audi
ted)
Act
ive
Allo
catio
n
Plan
Agg
ress
ive
Allo
catio
n
Plan
Con
serv
ativ
e
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
II
Stra
tegi
c
Allo
catio
n
Plan
III
Stra
tegi
c
Allo
catio
n
Plan
IV
Tota
l
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-
For
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed
(M
anag
emen
t C
omp
any)
____
____
____
____
____
____
___
____
____
____
____
____
____
___
___
____
____
____
____
____
____
Saq
ib M
atee
n
A
lee
Kh
alid
Gh
azn
avi
Per
vaiz
Iq
bal
Bu
tt
Chi
ef F
inan
cial
Off
icer
Chi
ef E
xecu
tive
Off
icer
Dir
ecto
r
AB
L I
SL
AM
IC F
INA
NC
IAL
PL
AN
NIN
G F
UN
DC
ON
DE
NS
ED
IN
TE
RIM
ST
AT
EM
EN
T O
F M
OV
EM
EN
T I
N U
NIT
HO
LD
ER
S' F
UN
D (
UN
-AU
DIT
ED
)
For
the
peri
od e
nded
Sep
tem
ber
8,
2019
(re
fer
note
1.2
.5)
For
the
hal
f
year
end
ed
Dec
embe
r 31
,
2019
For
the
peri
od e
nded
Sep
tem
ber
17, 2
019
(ref
er n
ote
1.2.
7)
Net
ass
ets
at t
he b
egin
ning
of
the
peri
od57
1,45
1,60
0
83,5
65,1
69
35,1
95,5
16
255,
414,
638
238,
667,
988
355,
418,
065
361,
037,
699
395,
403,
435
Issu
e of
uni
ts:
- C
apit
al v
alue
(at
net
ass
ets
valu
e pe
r un
it
at
the
beg
inni
ng o
f th
e pe
riod
)A
ctiv
e -
-221
,582
21,0
04,9
22
-
-
-
-
-
-
21
,004
,922
Agg
ress
ive
- 67
,635
-
6,
532,
486
-
-
-
-
-
-
6,
532,
486
Con
serv
ativ
e -
9,92
0-
-
1,
104,
155
-
-
-
-
-
1,10
4,15
5
Cap
ital
Pre
serv
atio
n P
lan
- I
- 74
0-
-
-
-
-
-
-
74,0
47
74
,047
E
lem
ent
of i
ncom
e1,
907,
943
50
9,81
2
10
,493
-
-
-
-
149
2,42
8,39
6
Tot
al p
roce
eds
on i
ssua
nce
of u
nits
22,9
12,8
65
7,
042,
299
-
-
-
-
74,1
96
31
,144
,007
Red
empt
ion
of u
nits
: -
Cap
ital
val
ue (
at n
et a
sset
s va
lue
per
unit
at t
he b
egin
ning
of
the
peri
od)
Act
ive
- 1,
010,
536
95,7
93,8
68
-
-
-
-
-
-
-
95,7
93,8
68
Agg
ress
ive
- 41
8,51
4-
40,4
21,7
59
-
-
-
-
-
-
40,4
21,7
59
-
-
12,5
97,3
15
-
-
-
-
-
12,5
97,3
15
Str
ateg
ic -
817
,514
-
-
-
83,5
68,7
76
-
-
-
-
83,5
68,7
76
Str
ateg
ic I
I -
2,63
6,22
5-
-
-
-
238,
667,
988
-
-
-
238,
667,
988
Str
ateg
ic I
II -
3,2
27,0
32-
-
-
-
-
315,
462,
583
-
-
315,
462,
583
Str
ateg
ic I
V -
3,5
74,0
21-
-
-
-
-
-
361,
037,
699
-
361,
037,
699
Cap
ital
Pre
serv
atio
n P
lan
- I
- 13
2,61
5-
-
-
-
-
-
-
13,2
65,6
28
13,2
65,6
28
Am
ount
pai
d ou
t-
rela
ting
to
net
inco
me
for
the
peri
od a
fter
tax
atio
n37
9,85
6
164,
318
9,09
5,73
8
-
9,36
6,26
8
-
465,
266
19,4
71,4
46
- R
efun
d /
adju
stm
ent
on u
nits
as
elem
ent
of i
ncom
e(5
9,88
3)
153,
180
8,56
0
9
(7,5
84,5
24)
4,66
2
(94,
336)
(2,7
39,0
21)
95,7
33,9
85
40,9
54,7
95
12,7
70,1
93
92,6
64,5
23
231,
083,
464
324,
833,
513
365,
871,
010
13,6
36,5
58
1,17
7,54
8,04
1
Tot
al c
ompr
ehen
sive
inc
ome
/ (l
oss)
for
the
per
iod
58,5
13,5
94
4,80
2,72
3
1,47
7,88
7
33,8
38,0
33
(7,5
84,5
25)
14,9
76,5
01
40,4
79,7
92
151,
337,
316
Dis
trib
utio
n du
ring
the
per
iod
--
--
--
--
-
Net
inc
ome
/ (l
oss)
aft
er d
istr
ibut
ion
58,5
13,5
944,
802,
723
1,47
7,88
733
,838
,033
(7,5
84,5
25)
14,9
76,5
0140
,479
,792
151,
337,
316
Net
ass
ets
at t
he e
nd o
f th
e pe
riod
(ca
rrie
d fo
rwar
d)55
7,14
4,07
454
,455
,395
25,0
17,8
5719
6,58
8,14
8-
45,5
61,0
53-
422,
320,
865
1,30
1,08
7,39
2
For
the
hal
f ye
ar e
nded
Dec
embe
r 31
, 201
9F
or t
he h
alf
year
end
ed D
ecem
ber
31, 2
019
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- U
n-au
dite
d -
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-Tot
al
Con
serv
ativ
e
All
ocat
ion
Pla
n
Act
ive
All
ocat
ion
Pla
n
Agg
ress
ive
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n II
Str
ateg
ic
All
ocat
ion
Pla
n II
I
Str
ateg
ic
All
ocat
ion
Pla
n IV
Cap
ital
Pre
serv
atio
n
Pla
n -
I
AB
L I
SL
AM
IC F
INA
NC
IAL
PL
AN
NIN
G F
UN
D
For
the
per
iod e
nded
Sep
tem
ber
8,
20
19
(re
fer
no
te 1
.2.5
)
For
the
hal
f
yea
r en
ded
Dec
emb
er 3
1,
20
19
For
the
per
iod e
nded
Sep
tem
ber
17
, 2
01
9
(ref
er n
ote
1.2
.7)
For
the
hal
f y
ear
end
ed D
ecem
ber
31
, 2
01
9F
or
the
hal
f y
ear
end
ed D
ecem
ber
31
, 2
01
9
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Un
-au
dit
ed -
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
up
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---T
ota
l
Conse
rvat
ive
All
oca
tio
n
Pla
n
Act
ive
All
oca
tio
n
Pla
n
Ag
gre
ssiv
e
All
oca
tio
n
Pla
n
Str
ateg
ic
All
oca
tio
n
Pla
n
Str
ateg
ic
All
oca
tio
n
Pla
n I
I
Str
ateg
ic
All
oca
tio
n
Pla
n I
II
Str
ateg
ic
All
oca
tio
n
Pla
n I
V
Cap
ital
Pre
serv
atio
n
Pla
n -
I
Net
ass
ets
at t
he
end o
f th
e p
erio
d (
bro
ug
ht
forw
ard
)5
57
,14
4,0
74
54
,45
5,3
95
25
,01
7,8
57
19
6,5
88
,14
8
-
45
,56
1,0
53
-
42
2,3
20
,86
5
1,3
01
,08
7,3
92
Undis
trib
ute
d i
nco
me
bro
ug
ht
forw
ard
- re
alis
ed i
nco
me
/ (l
oss
)3
8,2
16
,31
9
23
,24
5,0
36
35
,62
6,6
71
57
,18
9,9
17
(13
,59
9,8
63
)
99
4,1
42
17
,64
6,3
70
19
,30
9,4
44
17
8,6
28
,03
6
- un -
rea
lise
d (
loss
) /
inco
me
(67
,39
8,5
02
)
(8,9
11
,71
5)
(2,0
49
,07
5)
(14
,47
9,2
45
)
(45
,86
7,3
63
)
(21
,15
1,8
07
)
9,0
42
,31
2
(19
,21
0,0
07
)
(17
0,0
25
,40
2)
(29
,18
2,1
84
)
14
,33
3,3
21
33
,57
7,5
96
42
,71
0,6
72
(59
,46
7,2
26
)
(20
,15
7,6
64
)
26
,68
8,6
81
99
,43
7
8,6
02
,63
4
Acc
oun
tin
g i
nco
me
avai
lab
le f
or
dis
trib
uti
on f
or
the
per
iod
- re
lati
ng t
o c
apit
al g
ian
s5
9,0
70
,84
4
4,8
65
,91
6
1,8
75
,67
6
34
,11
3,1
29
-
14
,93
8,2
44
-
40
,73
6,9
38
15
5,6
00
,74
7
- ex
clud
ing
cap
ital
gia
ns
(55
7,2
50
)
(44
3,0
49
)
(56
2,1
07
)
(9,3
70
,83
4)
-
(9,3
28
,01
1)
-
(72
2,4
12
)
(20
,98
3,6
63
)
58
,51
3,5
94
4,4
22
,86
7
1,3
13
,56
9
24
,74
2,2
95
-
5,6
10
,23
3
-
40
,01
4,5
26
94
,60
2,5
58
Undis
trib
ute
d i
nco
me
/ (l
oss
) ca
rrie
d f
orw
ard
29
,33
1,4
10
18
,75
6,1
88
34
,89
1,1
65
67
,45
2,9
67
-
(14
,54
7,4
31
)
-
40
,11
3,9
63
17
5,9
98
,26
2
Undis
trib
ute
d i
nco
me
/ (l
oss
) ca
rrie
d f
orw
ard
- re
alis
ed i
nco
me
/ (l
oss
)(2
6,6
51
,02
3)
14
,07
7,2
89
33
,22
7,7
23
44
,79
1,6
86
-
(19
,50
4,5
62
)
-
5,4
97
,76
3
51
,43
8,8
76
- un -
rea
lise
d (
loss
) /
inco
me
55
,98
2,4
33
4,6
78
,89
9
1,6
63
,44
2
22
,66
1,2
81
-
4,9
57
,13
1
-
34
,61
6,2
00
12
4,5
59
,38
6
29
,33
1,4
10
18
,75
6,1
88
34
,89
1,1
65
67
,45
2,9
67
-
(14
,54
7,4
31
)
-
40
,11
3,9
63
17
5,9
98
,26
2
Net
ass
et v
alue
per
unit
at
the
beg
inn
ing
of
the
per
iod
94
.79
51
96
.58
40
11
1.3
02
6
10
2.2
23
1
90
.53
40
97
.75
63
10
1.0
17
2
10
0.0
31
1
Net
ass
et v
alue
per
unit
at
the
end
of
the
per
iod
10
6.3
38
8
10
5.8
76
7
11
7.4
79
9
11
6.9
41
1
-
11
1.4
71
0
-
11
0.5
28
3
For
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed
(M
anag
emen
t C
omp
any)
____
____
____
____
____
____
___
____
____
____
____
____
____
___
___
____
____
____
____
____
____
Saq
ib M
atee
n
A
lee
Kh
alid
Gh
azn
avi
Per
vaiz
Iq
bal
Bu
tt
Chi
ef F
inan
cial
Off
icer
Chi
ef E
xecu
tive
Off
icer
Dir
ecto
r
AB
L IS
LA
MIC
FIN
AN
CIA
L PL
AN
NIN
G F
UN
D(C
ontin
ued)
Net
ass
ets
at th
e be
ginn
ing
of th
e pe
riod
1,18
3,76
8,26
4
249,
191,
730
151,
763,
373
703,
165,
163
768,
728,
442
703,
082,
790
4,37
1,38
3,40
4
Issu
e of
uni
ts:
- C
apita
l val
ue (a
t net
ass
ets
valu
e pe
r uni
t
at
the
begi
nnin
g of
the
peri
od)
Act
ive
- 51,
614
5,29
3,90
1
-
-
-
-
-
-
5,
293,
901
Agg
ress
ive
- 66,
177
-
6,93
6,36
6
-
-
-
-
-
6,
936,
366
Con
serv
ativ
e - 3
7,67
5-
-
-
-
-
-
Ele
men
t of i
ncom
e(1
63,5
32)
(62,
925)
43
,662
-
-
-
-
(1
82,7
94)
Tot
al p
roce
eds
on is
suan
ce o
f un
its5,
130,
369
6,
873,
441
4,
234,
781
-
-
-
-
16
,238
,592
Red
empt
ion
of u
nits
: -
Cap
ital v
alue
(at n
et a
sset
s va
lue
per u
nit
at th
e be
ginn
ing
of th
e pe
riod
)A
ctiv
e - 1
,561
,589
160,
165,
165
-
-
-
-
-
-
16
0,16
5,16
5
Agg
ress
ive
- 941
,446
-
98,6
78,1
62
-
-
-
-
-
98
,678
,162
Con
serv
ativ
e - 6
93,1
04-
-
77
,103
,499
-
-
-
-
77
,103
,499
Stra
tegi
c - 2
,574
,331
-
-
-
268,
162,
605
-
-
-
26
8,16
2,60
5
Stra
tegi
c II
- 1,
121,
153
-
-
-
-
105,
324,
721
-
-
10
5,32
4,72
1
Stra
tegi
c II
I - 9
88,0
58-
-
-
-
-
97
,144
,419
-
97,1
44,4
19
-
-
-
-
-
-
201,
639,
826
201,
639,
826
Am
ount
pai
d ou
t- r
elat
ing
to N
et In
com
e fo
r the
per
iod
afte
r tax
atio
n-
-
-
-
-
-
-
-
- Ref
und
/ adj
ustm
ent o
n un
its a
s el
emen
t of i
ncom
e(2
,410
,048
)
1,40
6,86
6
330,
835
5,31
5,75
4
754,
490
(281
,100
)
4,
999,
734
10
0,08
5,02
8
77,4
34,3
34
27
3,47
8,35
9
96,8
63,3
19
20
1,52
2,76
3
1,01
3,21
8,13
1
Tot
al C
ompr
ehen
sive
(los
s) /
inco
me
for t
he p
erio
d(5
6,50
6,97
1)
(7,3
61,4
59)
292,
790
(10,
607,
900)
(23,
956,
758)
(13,
645,
880)
(9,7
35,7
63)
(121
,521
,940
)
D
istr
ibut
ion
duri
ng th
e pe
riod
-
-
-
-
-
-
-
-
N
et in
com
e / (
loss
) aft
er d
istr
ibut
ion
(56,
506,
971)
(7,3
61,4
59)
292,
790
(10,
607,
900)
(23,
956,
758)
(13,
645,
880)
(9,7
35,7
63)
(121
,521
,940
)
N
et a
sset
s at
the
end
of th
e pe
riod
974,
636,
545
148,
618,
685
419,
078,
904
638,
692,
472
501,
174,
443
491,
824,
263
3,25
2,88
1,92
4
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-
For t
he h
alf y
ear e
nded
Dec
embe
r 31,
201
8 (U
n-au
dite
d)
Act
ive
Allo
catio
n
Plan
Agg
ress
ive
Allo
catio
n
Plan
Con
serv
ativ
e
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
II
Stra
tegi
c
Allo
catio
n
Plan
III
Stra
tegi
c
Allo
catio
n
Plan
IV
Tot
al
AB
L I
SLA
MIC
FIN
AN
CIA
L P
LA
NN
ING
FU
ND
(Con
tinue
d)
FOR
TH
E P
ER
IOD
EN
DE
D S
EPT
EM
BE
R 8
, 201
9 , S
EPT
EM
BE
R 1
7, 2
019
AN
D H
AL
F Y
EA
R E
ND
ED
DE
CE
MB
ER
31,
201
9
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-
For
the
half
yea
r en
ded
Dec
embe
r 31
, 201
8 (U
n-au
dite
d)
Act
ive
Allo
catio
n
Pla
n
Agg
ress
ive
Allo
catio
n
Pla
n
Con
serv
ativ
e
Allo
catio
n
Pla
n
Stra
tegi
c
Allo
catio
n
Pla
n
Stra
tegi
c
Allo
catio
n
Pla
n II
Stra
tegi
c
Allo
catio
n
Pla
n II
I
Stra
tegi
c
Allo
catio
n
Pla
n IV
Tot
al
Net
ass
ets
at th
e en
d of
the
peri
od97
4,63
6,54
5
148,
618,
685
78,8
56,6
11
419,
078,
904
63
8,69
2,47
2
501,
174,
443
491,
824,
263
3,25
2,88
1,92
4
Und
istr
ibut
ed in
com
e br
ough
t for
war
d-
real
ised
inco
me
183,
948,
831
43,2
09,4
15
33
,590
,311
99
,063
,800
(13,
599,
863)
(1
4,79
1,62
0)
17
,646
,370
34
9,06
7,24
4
- un
- r
ealis
ed in
com
e(1
37,6
06,7
38)
(22,
186,
017)
33,6
30
(55,
401,
966)
(45,
867,
363)
(4
,787
,971
)
9,
042,
312
(256
,774
,113
)
46,3
42,0
93
21,0
23,3
98
33,6
23,9
41
43,6
61,8
34
(59,
467,
226)
(1
9,57
9,59
1)
26,6
88,6
81
92,2
93,1
30
Acc
ount
ing
inco
me
avai
labl
e fo
r di
stri
buti
on f
or th
e pe
riod
- re
lati
ng to
cap
ital
gai
ns-
-
-
-
-
-
-
-
- ex
clud
ing
capi
tal g
ains
(56,
506,
971)
(7,3
61,4
59)
29
2,79
0
(1
0,60
7,90
0)
(23,
956,
758)
(1
3,64
5,88
0)
(9,7
35,7
63)
(121
,521
,940
)
(56,
506,
971)
(7,3
61,4
59)
29
2,79
0
(10,
607,
900)
(23,
956,
758)
(1
3,64
5,88
0)
(9,7
35,7
63)
(121
,521
,940
)
Und
istr
ibut
ed in
com
e / (
loss
) ca
rrie
d fo
rwar
d(1
0,16
4,87
8)
13
,661
,939
33
,916
,731
33
,053
,934
(83,
423,
984)
(3
3,22
5,47
1)
16,9
52,9
18
(29,
228,
810)
Und
istr
ibut
ed in
com
e / (
loss
) ca
rrie
d fo
rwar
d-
real
ised
inco
me
/ (lo
ss)
57,1
79,1
35
24,2
79,1
36
35,9
31,3
41
56,8
05,7
90
(46,
997,
226)
(8
,378
,371
)
38
,581
,899
15
7,40
1,70
5
- un
- r
ealis
ed in
com
e / (
loss
)(6
7,34
4,01
3)
(1
0,61
7,19
7)
(2
,014
,609
)
(2
3,75
1,85
6)
(36,
426,
758)
(2
4,84
7,10
0)
(21,
628,
981)
(1
86,6
30,5
14)
(1
0,16
4,87
8)
13
,661
,939
33
,916
,731
33
,053
,934
(83,
423,
984)
(3
3,22
5,47
1)
16,9
52,9
18
(29,
228,
810)
Net
ass
et v
alue
per
uni
t at t
he b
egin
ning
of
the
peri
od10
2.56
55
10
4.81
85
11
1.24
37
10
4.16
79
93
.943
2
98
.318
5
10
1.79
88
Net
ass
et v
alue
per
uni
t at t
he e
nd o
f th
e pe
riod
97.1
565
98.9
410
111.
2516
100.
3547
90.4
440
95.7
647
99.8
461
For
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed
(M
anag
emen
t C
omp
any)
____
____
____
____
____
____
___
____
____
____
____
____
____
___
___
____
____
____
____
____
____
Saq
ib M
atee
n
A
lee
Kh
alid
Gh
azn
avi
Per
vaiz
Iq
bal
Bu
tt
Chi
ef F
inan
cial
Off
icer
Chi
ef E
xecu
tive
Off
icer
Dir
ecto
r
AB
L I
SLA
MIC
FIN
AN
CIA
L P
LA
NN
ING
FU
ND
CO
ND
EN
SED
IN
TE
RIM
CA
SH F
LO
W S
TAT
EM
EN
T (
UN
-AU
DIT
ED
)FO
R T
HE
PE
RIO
D E
ND
ED
SE
PTE
MB
ER
8, 2
019
, SE
PTE
MB
ER
17,
201
9 A
ND
HA
LF
YE
AR
EN
DE
D D
EC
EM
BE
R 3
1, 2
019 Fo
r th
e pe
riod
ende
d
Sept
embe
r 8,
2019
(re
fer
note
1.2
.5)
For
the
half
year
end
ed
Dec
embe
r 31
,
2019
For
the
peri
od
ende
d
Sept
embe
r 17
,
2019
(re
fer
note
1.2
.7)
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
CA
SH F
LO
WS
FRO
M O
PER
AT
ING
AC
TIV
ITIE
S
Net
(lo
ss)
/ inc
ome
for
the
peri
od b
efor
e ta
xatio
n58
,513
,594
4,80
2,72
3
1,47
7,88
7
33,8
38,0
33
(7,5
84,5
25)
14,9
76,5
01
4,83
3,31
1
40,4
79,7
92
151,
337,
316
Adj
ustm
ents
for
non
-cas
h an
d ot
her
item
s:3,
987
-
394,
798
-
-
-
-
-
398,
785
Unr
ealis
ed (
gain
) / l
oss
on r
e-m
easu
rem
ent o
f in
vest
men
ts-
(55,
982,
433)
(4,6
78,8
99)
(1,6
63,4
42)
(22,
661,
281)
-
(4,9
57,1
31)
-
(34,
616,
200)
(124
,559
,386
)
(55,
978,
446)
(4,6
78,8
99)
(1,2
68,6
44)
(22,
661,
281)
-
(4,9
57,1
31)
-
(34,
616,
200)
(124
,160
,601
)D
ecre
ase
/ (in
crea
se)
in a
sset
sIn
vest
men
ts -
net
83,0
11,5
8833
,112
,984
10,7
87,7
6472
,354
,125
233,
521,
258
315,
384,
369
360,
554,
947
(5,3
20,7
37)
1,10
3,40
6,29
8(5
05)
1,71
93,
069
9,47
57,
422
(100
)76
1(7
0,95
7)(4
9,11
5)P
repa
ymen
ts(5
,893
)(8
26)
(270
)(2
,590
)-
(3
,554
)-
(6,3
25)
(19,
459)
83,0
05,1
9033
,113
,877
10,7
90,5
6272
,361
,010
233,
528,
680
315,
380,
715
360,
555,
708
(5,3
98,0
19)
1,10
3,33
7,72
4In
crea
se /
(dec
reas
e) in
liab
ilitie
sP
ayab
le to
AB
L A
sset
Man
agem
ent C
ompa
ny L
imite
d
- M
anag
emen
t Com
pany
280,
845
37,6
9013
,926
128,
846
52,8
1110
1,16
067
,203
75,5
5575
8,03
7P
ayab
le to
MC
B F
inan
cial
Ser
vice
s L
imite
d -
Tru
stee
(22,
393)
(3,1
58)
(803
)(4
,704
)(2
6,33
8)(2
4,11
9)(1
7,68
2)2
(99,
195)
Pay
able
to S
ecur
ities
and
Exc
hang
e C
omm
issi
on o
f P
akis
tan
(928
,662
)(1
45,5
08)
(72,
758)
(436
,855
)8,
608
(450
,255
)14
,303
(55,
460)
(2,0
66,5
87)
Div
iden
d pa
yabl
e-
-
-
-
-
-
-
-
-
Acc
rued
exp
ense
s an
d ot
her
liabi
litie
s55
,496
18,0
57(1
28,6
70)
(9,1
23)
(5,5
65)
8,77
5(3
,558
)(1
,280
,410
)(1
,344
,997
)P
ayab
le a
gain
st r
edem
ptio
n of
uni
ts(3
,553
,889
)-
-
5,98
2,44
3(5
,110
,049
)-
(857
,196
)-
(3
,538
,691
)(4
,168
,602
)(9
2,91
8)(1
88,3
05)
5,66
0,60
7(5
,080
,533
)(3
64,4
39)
(796
,930
)(1
,260
,313
)(6
,291
,433
)81
,371
,736
33,1
44,7
8310
,811
,501
89,1
98,3
6922
0,86
3,62
232
5,03
5,64
736
4,59
2,08
8(7
94,7
40)
1,12
4,22
3,00
6N
et c
ash
gene
rate
d fr
om /
(use
d in
) op
erat
ing
activ
ities
81,3
71,7
3633
,144
,783
10,8
11,5
0189
,198
,369
220,
863,
622
325,
035,
647
364,
592,
088
(794
,740
)1,
124,
223,
006
CA
SH F
LO
WS
FRO
M F
INA
NC
ING
AC
TIV
ITIE
S
Rec
eipt
s ag
ains
t iss
uanc
e of
uni
ts22
,912
,865
7,
042,
299
1,11
4,64
8
-
-
-
-
74,1
96
31
,144
,007
Pay
men
ts a
gain
st r
edem
ptio
n of
uni
ts(9
5,73
3,98
5)
(40,
954,
795)
(1
2,77
0,19
3)
(92,
664,
523)
(2
31,0
83,4
64)
(3
24,8
33,5
13)
(3
65,8
71,0
10)
(1
3,63
6,55
8)
(1
,177
,548
,041
)
(72,
821,
120)
(33,
912,
497)
(11,
655,
545)
(92,
664,
523)
(231
,083
,464
)(3
24,8
33,5
13)
(365
,871
,010
)(1
3,56
2,36
2)(1
,146
,404
,034
)
8,55
0,61
7(7
67,7
14)
(844
,044
)(3
,466
,153
)(1
0,21
9,84
1)20
2,13
3(1
,278
,922
)(1
4,35
7,10
2)(2
2,18
1,02
7)C
ash
and
cash
equ
ival
ents
at t
he b
egin
ning
of
the
peri
od10
,549
,538
2,78
1,23
33,
659,
968
4,52
2,49
810
,219
,841
1,32
2,13
91,
278,
922
18,7
65,4
2453
,099
,563
Cas
h an
d ca
sh e
quiv
alen
ts a
t the
end
of
the
peri
od19
,100
,155
2,01
3,51
92,
815,
924
1,05
6,34
5-
1,52
4,27
2-
4,40
8,32
230
,918
,535
For
the
half
yea
r en
ded
Dec
embe
r
31, 2
019
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Un-
audi
ted
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
Net
incr
ease
/ (d
ecre
ase)
in c
ash
and
cash
equ
ival
ents
duri
ng th
e pe
riod
Cap
ital
Pres
erva
tion
Plan
- I
For
the
half
yea
r en
ded
Dec
embe
r 31
, 201
9
Con
serv
ativ
e
Allo
catio
n
Plan
Act
ive
Allo
catio
n
Plan
Tota
l
Agg
ress
ive
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
II
Stra
tegi
c
Allo
catio
n
Plan
III
Stra
tegi
c
Allo
catio
n
Plan
IV
AB
L I
SLA
MIC
FIN
AN
CIA
L P
LA
NN
ING
FU
ND
(Con
tinue
d)
Net
inco
me
for
the
peri
od b
efor
e ta
xatio
n(5
6,50
6,97
1)
(7
,361
,459
)
29
2,79
0
(1
0,60
7,90
0)
(2
3,95
6,75
8)
(1
3,64
5,88
0)
(9
,735
,763
)
(1
21,5
21,9
40)
Adj
ustm
ents
for
non
-cas
h an
d ot
her
item
s:3,
987
-
394,
798
-
-
-
-
3
98,7
85
Unr
ealis
ed g
ain
on r
e-m
easu
rem
ent o
f in
vest
men
ts-
67
,344
,013
10,6
17,1
97
2,
014,
609
23
,751
,856
36,4
26,7
58
24,8
47,1
00
21,6
28,9
81
18
6,63
0,51
4
67,3
48,0
0010
,617
,197
2,40
9,40
723
,751
,856
36,4
26,7
5824
,847
,100
21,6
28,9
8118
7,02
9,30
0D
ecre
ase
/ (in
crea
se)
in a
sset
s
Inve
stm
ents
- n
et13
8,25
4,98
590
,133
,001
70,2
83,5
9925
9,73
7,00
092
,969
,130
87,4
42,2
2018
9,11
2,80
892
7,93
2,74
448
,800
5,68
82,
377
(1,5
97)
4,02
2(8
,346
)(1
,726
)49
,218
Prep
aym
ents
and
oth
er r
ecei
vabl
e(3
,745
)(8
18)
(525
)(2
,100
)(2
,455
)(9
39)
(4,4
00)
(14,
983)
138,
300,
040
90,1
37,8
7170
,285
,450
259,
733,
303
92,9
70,6
9787
,432
,935
189,
106,
683
927,
966,
979
Incr
ease
/ (d
ecre
ase)
in li
abili
ties
-
Man
agem
ent C
ompa
ny10
,981
33,4
598,
347
114,
560
151,
638
131,
001
139,
723
589,
709
8,62
5(1
,208
)(1
,397
)(3
,182
)11
,590
10,7
144,
069
29,2
11Pa
yabl
e to
Sec
uriti
es a
nd E
xcha
nge
Com
mis
sion
of
Paki
stan
(770
,750
)(2
06,8
07)
(168
,154
)(5
64,3
54)
(494
,636
)(6
78,6
08)
(254
,404
)(3
,137
,714
)A
ccru
ed e
xpen
ses
and
othe
r lia
bilit
ies
(118
)(5
15)
14,4
89(1
1,06
4)(1
4,88
0)(1
2,88
3)3,
579
(21,
391)
Paya
ble
agai
nst r
edem
ptio
n of
uni
ts(2
13,4
24)
(288
,174
)12
0,00
0-
-
-
-
(381
,598
)(9
64,6
86)
(463
,246
)(2
6,71
4)(4
64,0
39)
(346
,288
)(5
49,7
78)
(107
,032
)(2
,921
,783
)14
8,17
6,38
492
,930
,363
72,9
60,9
3427
2,41
3,22
010
5,09
4,40
998
,084
,377
200,
892,
868
990,
552,
555
Net
cas
h (u
sed
in)
/ gen
erat
ed f
rom
ope
ratin
g ac
tiviti
es14
8,17
6,38
492
,930
,363
72,9
60,9
3427
2,41
3,22
010
5,09
4,40
998
,084
,377
200,
892,
868
990,
552,
555
Rec
eipt
s ag
ains
t iss
uanc
e of
uni
ts5,
130,
369
6,87
3,44
1
4,23
4,78
1
-
-
-
-
16,2
38,5
92Pa
ymen
ts a
gain
st r
edem
ptio
n of
uni
ts(1
57,7
55,1
17)
(100
,085
,028
)
(77,
434,
334)
(273
,478
,359
)
(106
,079
,211
)
(96,
863,
319)
(201
,522
,763
)
(1,0
13,2
18,1
31)
(152
,624
,748
)(9
3,21
1,58
6)(7
3,19
9,55
3)(2
73,4
78,3
59)
(106
,079
,211
)(9
6,86
3,31
9)(2
01,5
22,7
63)
(996
,979
,540
)
Net
(de
crea
se)
/ inc
reas
e in
cas
h an
d ca
sh e
quiv
alen
ts d
urin
gth
e pe
riod
(4,4
48,3
64)
(281
,223
)(2
38,6
19)
(1,0
65,1
39)
(984
,803
)1,
221,
059
(629
,896
)(6
,426
,985
)
Cas
h an
d ca
sh e
quiv
alen
ts a
t the
beg
inni
ng o
f th
e pe
riod
6,40
5,59
34,
712,
868
3,47
7,83
13,
024,
068
2,10
7,63
71,
002,
411
1,96
4,82
922
,695
,237
Cas
h an
d ca
sh e
quiv
alen
ts a
t the
end
of
the
peri
od1,
957,
229
4,43
1,64
53,
239,
212
1,95
8,92
91,
122,
834
2,22
3,47
01,
334,
933
16,2
68,2
52
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
For
the
half
yea
r en
ded
Dec
embe
r 31
, 201
8 (U
n-au
dite
d)A
ctiv
e
Allo
catio
n
Plan
Agg
ress
ive
Allo
catio
n
Plan
Con
serv
ativ
e
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
Stra
tegi
c
Allo
catio
n
Plan
II
Stra
tegi
c
Allo
catio
n
Plan
III
Stra
tegi
c
Allo
catio
n
Plan
IV
AB
L IS
LA
MIC
FIN
AN
CIA
L PL
AN
NIN
G F
UN
DN
OT
ES
TO T
HE
CO
ND
EN
SED
INT
ER
IM F
INA
NC
IAL
STA
TE
ME
NT
(UN
-AU
DIT
ED
)FO
R T
HE
PE
RIO
D E
ND
ED
SE
PTE
MB
ER
8, 2
019
, SE
PTE
MB
ER
17,
201
9 A
ND
HA
LF
YE
AR
EN
DE
D D
EC
EM
BE
R 3
1, 2
019
1.L
EG
AL
STA
TU
S A
ND
NA
TU
RE
OF
BU
SIN
ESS
1.1
1.2
The
inve
stm
ent o
bjec
tives
and
pol
icie
s of
eac
h al
loca
tion
plan
are
as
follo
ws;
1.2.
1A
BL
Isla
mic
Fin
anci
al P
lann
ing
Fund
‐ A
ctiv
e A
lloca
tion
Plan
1.2.
2A
BL
Isla
mic
Fin
anci
al P
lann
ing
Fund
‐ A
ggre
ssiv
e A
lloca
tion
Plan
1.2.
3A
BL
Isla
mic
Fin
anci
al P
lann
ing
Fund
‐ C
onse
rvat
ive
Allo
catio
n Pl
an
AB
LIs
lam
icFi
nanc
ial
Plan
ning
Fund
(the
Fund
)w
ases
tabl
ishe
dun
der
aT
rust
Dee
dex
ecut
edon
Nov
embe
r19
,201
5be
twee
nA
BL
Ass
etM
anag
emen
tC
ompa
nyLi
mite
d(A
BL
AM
CL)
asth
e
Man
agem
entC
ompa
nyan
dM
CB
Fina
ncia
lSer
vice
sLi
mite
d(M
CB
FSL)
asth
eT
rust
ee.T
heT
rust
Dee
dw
asex
ecut
edin
acco
rdan
cew
ithth
eN
on-B
anki
ngFi
nanc
eC
ompa
nies
and
Ent
ities
Reg
ulat
ions
, 200
8 (N
BFC
Reg
ulat
ions
).
The
obje
ctiv
eof
the
Fund
isto
gene
rate
retu
rnon
inve
stm
ents
aspe
rth
ere
spec
tive
Allo
catio
nPl
anby
inve
stin
gin
Shar
iah
com
plai
ntm
utua
lfun
dsin
line
with
the
risk
tole
ranc
eof
the
inve
stor
.The
Man
agem
ent C
ompa
ny h
as a
ppoi
nted
For
tune
Isla
mic
Ser
vice
s (P
riva
te) L
imite
d as
its
Shar
iah
Adv
isor
to e
nsur
e th
at th
e ac
tiviti
es o
f th
e Fu
nds
are
in c
ompl
ianc
e w
ith th
e pr
inci
ples
of
Shar
iah.
The
“Con
serv
ativ
eA
lloca
tion
Plan
”pr
imar
ilyai
ms
topr
ovid
est
able
retu
rns
with
som
eca
pita
lapp
reci
atio
nth
roug
ha
pre‐
dete
rmin
edm
ixof
inve
stm
ents
inSh
aria
hco
mpl
iant
Equ
ityfu
nd(s
)an
d
Isla
mic
Inco
me
fund
(s).
The
Allo
catio
nPl
anis
suita
ble
for
Inve
stor
sw
hoha
vem
oder
ate
risk
tole
ranc
ean
dha
vea
shor
tto
med
ium
term
inve
stm
enth
oriz
on.T
hepl
anco
mm
ence
don
Dec
embe
r21
,
2015
and
the
dura
tion
ofth
epl
anis
perp
etua
l.T
heas
seta
lloca
tions
are
upto
20%
and
upto
80%
inSh
aria
hco
mpl
iant
Equ
ityan
dIs
lam
icIn
com
esc
hem
es,r
espe
ctiv
ely
and
upto
10%
may
beke
ptin
Shar
iah
com
plia
nt b
ank
depo
sits
(exc
ludi
ng T
DR
s) in
Isla
mic
ban
ks /
Isla
mic
win
dow
s of
ban
ks a
s pe
rmitt
ed f
or th
e fu
nd o
f fu
nds
cate
gory
.
The
Man
agem
entC
ompa
nyof
the
Fund
has
been
licen
sed
toac
tas
anA
sset
Man
agem
entC
ompa
nyun
der
the
Non
-Ban
king
Fina
nce
Com
pani
es(E
stab
lishm
enta
ndR
egul
atio
ns)R
ules
,200
3(N
BFC
Rul
es)
thro
ugh
ais
sued
byth
eSe
curi
ties
and
Exc
hang
eC
omm
issi
onof
Paki
stan
(SE
CP)
onD
ecem
ber
7,20
07.T
here
gist
ered
ofth
eM
anag
emen
tCom
pany
issi
tuat
edat
plot
No.
14, M
ain
Bou
leva
rd, D
HA
Pha
se 6
, Lah
ore.
The
Fund
isan
open
-end
edSh
aria
hco
mpl
iant
fund
offu
nds
and
islis
ted
onth
ePa
kist
anSt
ock
Exc
hang
eLi
mite
d.T
heun
itsof
the
Fund
wer
ein
itial
lyto
publ
ic(I
PO)
onD
ecem
ber
21,2
015.
Subs
eque
ntto
the
Initi
alPu
blic
the
ofun
itsof
the
Allo
catio
nPl
ans
atth
eIn
itial
Pric
edi
scon
tinue
d.T
heun
itsof
the
Allo
catio
nPl
ans
coul
dth
enbe
purc
hase
dat
thei
r
Pric
ean
dre
deem
edat
the
Red
empt
ion
Pric
e,w
hich
shal
lbe
calc
ulat
edon
the
basi
sof
Net
Ass
etV
alue
(NA
V)
ofea
chA
lloca
tion
Plan
.The
dura
tion
ofth
efu
ndis
perp
etua
l,ho
wev
er,t
heal
loca
tion
plan
sm
ayha
vea
sett
ime
fram
e.E
ach
Allo
catio
nPl
anw
illan
noun
cese
para
teN
AV
sw
hich
will
rank
pari
pass
uin
ters
eac
cord
ing
toth
enu
mbe
rof
units
ofth
ere
spec
tive
Allo
catio
nPl
ans.
Uni
tsar
e
The
“Act
ive
Allo
catio
nPl
an”
aim
sto
earn
apo
tent
ially
high
retu
rnth
roug
hac
tive
asse
tal
loca
tion
betw
een
Shar
iah
com
plia
ntE
quity
fund
(s)
and
Isla
mic
Inco
me
fund
(s)
base
don
the
Fund
outlo
okon
the
asse
tcla
sses
.The
plan
com
men
ced
onD
ecem
ber2
1,20
15an
dth
edu
ratio
nof
the
plan
ispe
rpet
ual.
The
Man
agem
entC
ompa
nym
ayin
vest
upto
100%
inSh
aria
hco
mpl
aint
Equ
ityan
dIs
lam
icIn
com
esc
hem
esan
dup
to10
%m
aybe
kept
inSh
aria
hco
mpl
iant
bank
depo
sits
(exc
ludi
ngT
DR
s)in
Isla
mic
bank
s/I
slam
icw
indo
ws
ofba
nks
aspe
rmitt
edfo
rth
efu
ndof
fund
s
cate
gory
.
The
“Agg
ress
ive
Allo
catio
nPl
an”
prim
arily
aim
sto
prov
ide
pote
ntia
llyhi
ghca
pita
lgro
wth
thro
ugh
apr
e-de
term
ined
,hig
her
expo
sure
inSh
aria
hco
mpl
iant
Equ
ityfu
nd(s
)an
dre
sidu
alex
posu
rein
Isla
mic
Inco
me
fund
(s).
Thi
sA
lloca
tion
Plan
issu
itabl
efo
rIn
vest
ors
that
have
are
lativ
ely
high
risk
tole
ranc
ean
dha
vea
med
ium
tolo
ngte
rmin
vest
men
tho
rizo
n.T
hepl
anco
mm
ence
don
Dec
embe
r21
,201
5an
dth
edu
ratio
nof
the
plan
ispe
rpet
ual.
The
asse
tallo
catio
nsar
eup
to70
%an
dup
to30
%in
Shar
iah
com
plai
ntE
quity
and
Isla
mic
Inco
me
sche
mes
,res
pect
ivel
yan
dup
to10
%
may
be
kept
in S
hari
ah c
ompl
iant
ban
k de
posi
ts (e
xclu
ding
TD
Rs)
in Is
lam
ic b
anks
/ Is
lam
ic w
indo
ws
of b
anks
as
perm
itted
for
the
fund
of
fund
s ca
tego
ry.
1.2.
4
1.2.
5
1.2.
6
1.2.
7
1.3
The
“Cap
italP
rese
rvat
ion
Plan
-I”
aim
sto
earn
apo
tent
ially
high
retu
rnth
roug
hdy
nam
icas
seta
lloca
tion
betw
een
betw
een
Shar
iah
Com
plia
ntE
quiti
es,S
hari
ahC
ompl
iant
Sove
reig
nIn
com
e/M
oney
Mar
ketb
ased
Col
lect
ive
Inve
stm
entS
chem
es,a
ndde
posi
twith
Shar
iah
Com
plia
ntin
stitu
tions
base
don
fund
amen
tala
naly
sis
ofec
onom
icin
dica
tors
,whi
lepr
ovid
ing
prin
cipa
lpre
serv
atio
n
of th
e in
itial
inve
stm
ent v
alue
(inc
uldi
ng f
ront
-end
sal
es lo
ad) a
t com
plet
ion
of in
tial/s
ubse
quen
t mat
urity
of
the
plan
.
The
“Str
ateg
icA
lloca
tion
Plan
II”
aim
sto
earn
apo
tent
ially
high
retu
rnth
roug
hac
tive
allo
catio
nof
fund
sbe
twee
nIs
lam
icE
quity
sche
me(
s)an
dIs
lam
icIn
com
esc
hem
e(s)
base
don
fund
amen
tal
anal
ysis
ofec
onom
icin
dica
tors
,un
derl
ying
asse
tva
lues
and
ast
rate
gyof
risk
aver
sion
tom
arke
tvo
latil
ity.
Fund
Man
ager
take
sa
med
ium
term
stra
tegi
cvi
ewof
the
port
folio
asse
tsto
deliv
er
com
petit
ive
retu
rns
toin
vest
ors.
The
plan
com
men
ced
onSe
ptem
ber
08,
2016
and
the
dura
tion
ofth
epl
anw
astw
enty
four
(24)
mon
ths.
The
Man
agem
ent
Com
pany
may
inve
stup
to10
0%in
Shar
iah
com
plai
ntE
quity
and
Isla
mic
Inco
me
sche
mes
and
upto
10%
may
beke
ptin
Shar
iah
com
plia
ntba
nkde
posi
ts(e
xclu
ding
TD
Rs)
inIs
lam
icba
nks
/Isl
amic
win
dow
sof
bank
sas
perm
itted
for
the
fund
offu
nds
cate
gory
.Uni
tsof
the
plan
wer
efo
rpu
blic
subs
crip
tion
upto
the
end
ofpu
blic
peri
od.A
fter
one
year
ofex
tens
ion
the
plan
has
been
mat
ured
onSe
ptem
ber
08,
2019
. Bal
ance
s w
ith b
ank
as a
t Dec
embe
r 31,
201
9 as
per
ban
k st
atem
ents
in th
is p
lan
are
Rs.
697
,474
whi
ch re
pres
ents
pay
able
to u
nit h
olde
rs (
for
whi
ch c
hequ
es h
ave
been
issu
ed b
ut u
npre
sent
ed),
accr
ual f
or S
WW
F an
d au
dit f
ee e
tc.
The
“Str
ateg
icA
lloca
tion
Plan
-II
I”ai
ms
toea
rna
pote
ntia
llyhi
ghre
turn
thro
ugh
activ
eal
loca
tion
offu
nds
betw
een
Isla
mic
Ded
icat
edE
quity
sche
me(
s)an
dIs
lam
icIn
com
e/So
vere
ign
Inco
me
sche
me(
s)ba
sed
onfu
ndam
enta
lana
lysi
sof
econ
omic
indi
cato
rs,u
nder
lyin
gas
setv
alue
san
da
stra
tegy
ofri
skav
ersi
onto
mar
ketv
olat
ility
.Fun
dM
anag
erw
illta
kea
med
ium
term
stra
tegi
cvi
ewof
the
port
folio
asse
tsto
deliv
erco
mpe
titiv
ere
turn
sto
inve
stor
s.T
hepl
anco
mm
ence
don
Febr
uary
06,2
017
and
the
dura
tion
ofth
epl
anis
twel
ve(1
2)m
onth
s.T
heM
anag
emen
tCom
pany
may
inve
st
upto
100%
inSh
aria
hco
mpl
iant
Equ
ityan
dIs
lam
icIn
com
esc
hem
esan
dup
to10
%m
aybe
kept
inSh
aria
hco
mpl
iant
bank
depo
sits
(exc
ludi
ngT
DR
s)in
Isla
mic
bank
s/I
slam
icw
indo
ws
ofba
nks
aspe
rmitt
edfo
rth
efu
ndof
fund
sca
tego
ry.
Uni
tsof
the
plan
wer
efo
rpu
blic
subs
crip
tion
upto
the
end
ofpu
blic
peri
od.
Aft
erin
itial
peri
od,
the
ofun
itsw
as
susp
ende
d.th
esu
bscr
iptio
nin
the
units
may
bere
open
edfo
rfr
esh
issu
ance
byth
eM
anag
emen
tCom
pany
inac
cord
ance
with
the
prov
isio
nsof
cons
titut
ive
docu
men
tof
the
plan
subj
ectt
o
nece
ssar
y ap
prov
als.
The
“Str
ateg
icA
lloca
tion
Plan
-II
I”ai
ms
toea
rna
pote
ntia
llyhi
ghre
turn
thro
ugh
activ
eal
loca
tion
offu
nds
betw
een
Isla
mic
Ded
icat
edE
quity
sche
me(
s)an
dIs
lam
icIn
com
e/So
vere
ign
Inco
me
sche
me(
s)ba
sed
onfu
ndam
enta
lana
lysi
sof
econ
omic
indi
cato
rs,u
nder
lyin
gas
setv
alue
san
da
stra
tegy
ofri
skav
ersi
onto
mar
ketv
olat
ility
.Fun
dM
anag
erta
kes
am
ediu
mte
rmst
rate
gic
view
ofth
e
port
folio
asse
tsto
deliv
erco
mpe
titiv
ere
turn
sto
inve
stor
s.T
hepl
anco
mm
ence
don
Sept
embe
r18
,201
7an
dth
edu
ratio
nof
the
plan
was
twel
ve(2
4)m
onth
s.T
heM
anag
emen
tCom
pany
may
inve
st
upto
95%
inSh
aria
hco
mpl
iant
Equ
ityan
dIs
lam
icIn
com
esc
hem
esan
dup
to5%
to10
%m
aybe
kept
inSh
aria
hco
mpl
iant
bank
depo
sits
(exc
ludi
ngT
DR
s)in
Isla
mic
bank
s/I
slam
icw
indo
ws
of
bank
sas
perm
itted
for
the
fund
offu
nds
cate
gory
.Uni
tsof
the
plan
wer
efo
rpu
blic
subs
crip
tion
upto
the
end
ofpu
blic
peri
od.A
fter
initi
alpe
riod
,the
ofun
itsw
as
susp
ende
d.T
hepl
anha
sbe
enm
atur
edon
Sept
embe
r17
,201
9.B
alan
ces
with
bank
asat
Dec
embe
r31
,201
9as
per
bank
stat
emen
tsin
this
plan
are
Rs.
1,95
2,67
2w
hich
repr
esen
tspa
yabl
eto
unit
hold
ers
(for
whi
ch c
hequ
es h
ave
been
issu
ed b
ut u
npre
sent
ed),
accr
ual f
or S
WW
F an
d au
dit f
ee e
tc.
JCR
-VIS
Cre
dit R
atin
g C
ompa
ny h
as a
ssig
ned
man
agem
ent q
ualit
y ra
ting
of 'A
M2+
+' (
stab
le o
utlo
ok) t
o th
e M
anag
emen
t Com
pany
as
at D
ecem
ber 3
1, 2
019
whi
le th
e Fu
nd is
cur
rent
ly n
ot r
ated
.
The
“Str
ateg
icA
lloca
tion
Plan
”ai
ms
toea
rna
pote
ntia
llyhi
ghre
turn
thro
ugh
activ
eal
loca
tion
offu
nds
betw
een
Shar
iah
com
plai
ntE
quity
sche
me(
s)an
dIs
lam
icIn
com
esc
hem
e(s)
base
don
fund
amen
tala
naly
sis
ofec
onom
icin
dica
tors
,und
erly
ing
asse
tval
ues
and
ast
rate
gyof
risk
aver
sion
tom
arke
tvol
atili
ty.F
und
Man
ager
will
take
am
ediu
mte
rmst
rate
gic
view
ofth
epo
rtfo
lioas
sets
tode
liver
com
petit
ive
retu
rns
toin
vest
ors.
The
plan
com
men
ced
onM
arch
14,2
016
and
the
dura
tion
ofth
epl
anis
twen
tyfo
ur(2
4)m
onth
s.T
heM
anag
emen
tC
ompa
nym
ayin
vest
upto
100%
in
Shar
iah
com
plai
ntE
quity
and
Isla
mic
Inco
me
sche
mes
and
upto
10%
may
beke
ptin
Shar
iah
com
plia
ntba
nkde
posi
ts(e
xclu
ding
TD
Rs)
inIs
lam
icba
nks
/Isl
amic
win
dow
sof
bank
sas
perm
itted
for
the
fund
offu
nds
cate
gory
.Uni
tsof
the
plan
wer
efo
rpu
blic
subs
crip
tion
upto
the
end
ofpu
blic
peri
od.A
fter
initi
alpe
riod
,the
ofun
itsw
assu
spen
ded.
the
subs
crip
tion
in th
e un
its m
ay b
e re
open
ed f
or f
resh
issu
ance
by
the
Man
agem
ent C
ompa
ny in
acc
orda
nce
with
the
prov
isio
ns o
f co
nstit
utiv
e do
cum
ent o
f th
e pl
an s
ubje
ct to
nec
essa
ry a
ppro
vals
.
1.4
The t
itle t
o th
e ass
ets o
f the
Fun
d is
held
in th
e nam
e of M
CB F
inan
cial S
ervi
ces L
imite
d as
trus
tee o
f the
Fun
d.
2.St
atem
ent o
f Com
plian
ce
2.1.
State
men
t of c
ompl
iance
- - -
3. 3.1
3.2
Thes
econ
dens
edin
terim
statem
ents
have
been
prep
ared
inac
cord
ance
with
thea
ccou
ntin
gan
dre
porti
ngsta
ndar
dsas
appl
icabl
ein
Paki
stan
fori
nter
imre
porti
ng.T
heac
coun
ting
Thea
ccou
ntin
gpo
licies
adop
tedan
dth
emeth
odso
fcom
putat
ion
ofba
lance
suse
din
thep
repa
ratio
nof
thes
econ
dens
edin
terim
statem
ents
aret
hesa
mea
stho
seap
plied
inth
epre
para
tion
Thep
repa
ratio
nof
the
cond
ense
din
terim
statem
ents
inco
nfor
mity
with
acco
untin
gan
dre
porti
ngsta
ndar
dsas
appl
icabl
ein
Paki
stan
requ
iresm
anag
emen
tto
mak
eesti
mate
s,as
sum
ptio
ns
and
usej
udgm
ents
that
thea
pplic
ation
ofac
coun
ting
polic
iesan
dre
porte
dam
ount
sofa
ssets
,liab
ilitie
s,in
com
eand
expe
nses
.Esti
mate
s,as
sum
ptio
nsan
dju
dgm
ents
arec
ontin
ually
evalu
ated
and
are
base
don
histo
rical
expe
rienc
ean
dot
herf
acto
rs,in
cludi
ngre
ason
able
expe
ctatio
nsof
futu
reev
ents.
Revi
sions
toac
coun
ting
estim
atesa
rere
cogn
ised
pros
pecti
vely
com
men
cing
from
the
perio
dof
revi
sion.
Inpr
epar
ing
the
cond
ense
din
terim
statem
ents,
the
judg
men
tsm
ade
bym
anag
emen
tin
appl
ying
the
acco
untin
gpo
licies
and
the
key
sour
ces
of
estim
ation
and
unce
rtain
tywe
reth
esa
me
asth
ose
appl
iedto
the
statem
ents
asat
and
fort
heye
aren
ded
June
30,2
019.
The
risk
man
agem
ento
bjec
tives
and
polic
iesar
e
The
disc
losu
res
mad
ein
thes
eco
nden
sed
inter
imsta
temen
tsha
ve,
been
limite
dba
sed
onth
ere
quire
men
tsof
the
Inter
natio
nalA
ccou
ntin
gSt
anda
rd34
:'In
terim
Fina
ncial
Repo
rting
'.Th
ese
cond
ense
din
terim
statem
ents
dono
tinc
lude
allth
ein
form
ation
and
disc
losu
resr
equi
red
ina
full
seto
fsta
temen
tsan
dsh
ould
bere
adin
conj
uncti
onwi
thth
e
Inco
mpl
iance
with
Sche
dule
Vof
the
Non-
Bank
ing
Fina
nce
Com
pani
esan
dEn
tities
Regu
latio
ns,2
008,
the
dire
ctors
ofth
eM
anag
emen
tCom
pany
here
byde
clare
that
thes
eco
nden
sed
This
cond
ense
din
terim
info
rmati
onis
pres
ented
inPa
kRu
pees
,whi
chis
the
func
tiona
land
pres
entat
ion
curre
ncy
ofth
eFu
ndan
dha
sbee
nro
unde
dto
the
near
estt
hous
and
rupe
es,
Non-
Bank
ing
Fina
nce
Com
pani
es(E
stabl
ishm
enta
ndRe
gulat
ions
)Ru
les,2
003
(the
NBFC
Rules
),No
n-Ba
nkin
gFi
nanc
eCo
mpa
nies
and
Entit
iesRe
gulat
ions
,200
8(th
eNB
FC
Regu
latio
ns)a
ndre
quire
men
tsof
the
Trus
tDee
d.W
here
the
prov
ision
sofa
nddi
recti
vesi
ssue
dun
dert
heCo
mpa
nies
Act,
2017
with
the
requ
irem
ents
ofIA
S34
,the
prov
ision
sofa
nd
4.
(ref
er n
ote
1.2.
5)(r
efer
not
e 1.
2.7)
Not
e
4.1
19,1
00,1
55
2,01
3,51
9
2,81
5,92
4
1,05
6,34
5
1,52
4,27
2
4,40
8,32
2
30
,918
,537
204,
518,
695
312,
631,
944
19,1
00,1
55
2,01
3,51
9
2,81
5,92
4
1,05
6,34
5
1,52
4,27
2
4,40
8,32
2
30
,918
,537
204,
518,
695
312,
631,
944
4.1
10,5
49,5
38
2,78
1,23
3
3,65
9,96
8
4,52
2,49
8
10,2
19,8
41
1,32
2,13
9
1,
278,
922
18,7
65,4
24
53,0
99,5
63
10,5
49,5
38
2,78
1,23
3
3,65
9,96
8
4,52
2,49
8
10,2
19,8
41
1,32
2,13
9
1,
278,
922
18,7
65,4
24
53,0
99,5
63
4.1.
5.IN
VE
ST
ME
NT
S
(ref
er n
ote
1.2.
5)(r
efer
not
e 1.
2.7)
Not
e
-U
nits
of
Mut
ual F
unds
5.1.
154
4,67
4,85
5
54
,357
,428
22,4
50,0
36
19
8,45
6,99
2
44
,251
,252
41
8,24
4,86
7
1,28
2,43
5,43
0
-
-
-U
nits
of
Mut
ual F
unds
5.1.
157
1,70
4,01
1
82,7
91,5
12
31,5
74,3
59
254,
149,
837
233,
521,
258
354,
678,
490
360,
554,
947
37
8,30
7,93
0
2,26
7,28
2,34
4
5.
1
5.1.
1U
nits
of
Mut
ual
Fun
ds
----
----
----
----
----
- N
umbe
r of
uni
ts -
----
----
----
----
----
Act
ive
All
ocat
ion
Pla
n
Nam
e of
Inv
este
e F
unds
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Dec
embe
r 31
, 201
9 --
----
----
----
----
----
----
----
----
----
----
----
----
----
-
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Dec
embe
r 31
, 201
9 --
----
----
----
----
----
----
----
----
----
----
----
----
----
-
Act
ive
All
ocat
ion
Pla
n
Str
ateg
icA
lloc
atio
nP
lan
Str
ateg
icA
lloc
atio
nP
lan
II
Str
ateg
icA
lloc
atio
nP
lan
IV
Con
serv
ativ
eA
lloc
atio
nP
lan
Str
ateg
icA
lloc
atio
nP
lan
III
June
30,
201
9 (A
udit
ed)
Agg
ress
ive
All
ocat
ion
Pla
n
Cap
ital
P
rese
rvat
ion
Pla
n -
I
Str
ateg
ic
All
ocat
ion
Pla
n II
I
Agg
ress
ive
All
ocat
ion
Pla
n
Cap
ital
Pre
serv
atio
n P
lan
- I
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-
Str
ateg
ic
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n II
Act
ive
All
ocat
ion
Pla
n
The
bala
nces
inan
dlo
sssh
arin
gac
coun
tsca
rry
rate
sra
ngin
gfr
om4.
00%
to9.
75%
(Jun
e30
,201
9:2.
50%
to13
.50%
)pe
ran
num
.The
sein
clud
eag
greg
ate
bala
nce
ofR
s.29
,672
,493
mai
ntai
ned
wit
hA
llie
dB
ank
Lim
ited
excl
udin
g
Str
ateg
ic
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n II
Act
ive
All
ocat
ion
Pla
n
Con
serv
ativ
eA
lloc
atio
nP
lan
As
atD
ecem
ber
31,
2019
Str
ateg
icA
lloc
atio
nP
lan
III
Cap
ital
Pre
serv
atio
n P
lan
- I
Mar
ket v
alue
as
a pe
rcen
tage
of
tota
l in
vest
men
ts o
f re
spec
tive
pla
n
----
----
----
---
% -
----
----
----
-
Pur
chas
es
duri
ng th
e pe
riod
Str
ateg
icA
lloc
atio
nP
lan
II
Str
ateg
ic
All
ocat
ion
Pla
n II
I
Str
ateg
ic
All
ocat
ion
Pla
n IV
June
30,
201
9 (A
udit
ed)
Act
ive
All
ocat
ion
Pla
n
Con
serv
ativ
e
All
ocat
ion
Pla
n
Red
empt
ions
du
ring
the
peri
od
As
atJu
ly 0
1,20
19
Car
ryin
g va
lue
as a
t D
ecem
ber
31,
2019
Cap
ital
P
rese
rvat
ion
Pla
n -
I
Agg
ress
ive
All
ocat
ion
Pla
n
Agg
ress
ive
All
ocat
ion
Pla
n
Str
ateg
icA
lloc
atio
nP
lan
Mar
ket v
alue
as
a pe
rcen
tage
of
net
asse
ts o
f re
spec
tive
pla
n
Mar
ket
valu
e as
at
Dec
embe
r 31
,20
19
Str
ateg
icA
lloc
atio
nP
lan
IV
Unr
eali
sed
gain
as
at
Dec
embe
r 31
,20
19
----
----
----
---
Rup
ees
----
----
----
--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- U
n-au
dite
d --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- U
n-au
dite
d --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Str
ateg
ic
All
ocat
ion
Pla
n IV
Con
serv
ativ
e
All
ocat
ion
Pla
n
24
,98
9,3
12
17
,70
8,0
75
25
,90
2,1
96
16
,79
5,1
91
17
4,0
56,
47
11
82,
18
5,8
31
8,1
29
,36
03
33
3-
11,
97
0,6
81
4,6
45
,15
6
7,3
25
,52
5
10
0,0
00,
00
01
06,
03
4,7
67
6,0
34
,76
71
91
94
5,2
86
,09
2
13
,57
3,9
33
27
,30
8,8
51
31
,55
1,1
75
21
4,6
35,
95
12
56,
45
4,2
57
41
,81
8,3
06
46
47
48
8,6
92,
42
25
44,
67
4,8
55
55
,98
2,4
33
98
10
0
Agg
ress
ive
Allo
catio
n Pl
an
AB
L I
slam
ic I
ncom
e Fu
nd4,
248,
729
85
3,66
3
3,14
6,65
6
1,95
5,73
6
20,0
73,2
19
21
,214
,856
1,
141,
637
39
39
AB
L I
slam
ic S
tock
Fun
d-
50
9,53
2
50,8
92
45
8,64
0
6,
300,
836
6,
638,
670
337,
834
12
12A
BL
Isl
amic
Ded
icat
ed S
tock
Fun
d5,
641,
253
1,
277,
386
3,65
7,90
4
3,26
0,73
5
23,3
04,4
73
26
,503
,902
3,
199,
429
49
49
49,6
78,5
28
54
,357
,428
4,
678,
900
10
0
10
0
Con
serv
ativ
e A
lloca
tion
Plan
AB
L I
slam
ic I
ncom
e Fu
nd2,
583,
301
-
83
7,08
9
1,74
6,21
2
17,7
94,9
44
18
,942
,030
1,
147,
086
76
84
AB
L I
slam
ic S
tock
Fun
d15
7,25
2
-
67,5
63
89
,689
1,
088,
315
1,
298,
224
209,
909
5
6
AB
L I
slam
ic D
edic
ated
Sto
ck F
und
477,
193
-
205,
327
271,
866
1,90
3,33
5
2,20
9,78
2
30
6,44
7
9
10
20,7
86,5
94
22
,450
,036
1,
663,
442
90
10
0
Stra
tegi
c A
lloca
tion
Pla
n
AB
L I
slam
ic I
ncom
e Fu
nd19
,455
,312
10,0
30,9
00
23
,330
,848
6,15
5,36
9
63,3
68,6
39
66
,770
,308
3,
401,
669
3
4
34A
BL
Isl
amic
Sto
ck F
und
-
2,
207,
832
2,18
3,79
0
24,0
42
337,
566
347,
994
10
,428
0
0
AB
L I
slam
ic D
edic
ated
Sto
ck F
und
7,98
2,93
7
26,6
54,4
28
18
,478
,967
16,1
58,3
99
112,
089,
507
131,
338,
690
19,2
49,1
83
67
66
175,
795,
712
198,
456,
992
22,6
61,2
80
1
01
10
0
Stra
tegi
c A
lloca
tion
Pla
n II
AB
L I
slam
ic I
ncom
e Fu
nd16
,131
,900
12,0
62,3
16
28
,194
,216
-
-
-
-
-
-
AB
L I
slam
ic S
tock
Fun
d-
-
-
-
-
-
-
-
-
AB
L I
slam
ic D
edic
ated
Sto
ck F
und
9,87
3,94
8
45,3
06,1
39
55
,180
,087
-
-
-
-
-
-
-
-
-
-
-
Stra
tegi
c A
lloca
tion
Pla
n II
I
AB
L I
slam
ic I
ncom
e Fu
nd26
,426
,326
10,6
31,8
02
35
,786
,542
1,27
1,58
6
13,1
84,6
01
13
,793
,516
60
8,91
5
30
31
AB
L I
slam
ic S
tock
Fun
d-
509,
531.
89
50
3,98
3
5,
548
76
,225
80
,311
4,08
6
0
0
AB
L I
slam
ic D
edic
ated
Sto
ck F
und
12,1
95,1
69
20
,352
,062
28,8
09,9
43
3,
737,
288
26
,033
,296
30,3
77,4
25
4,34
4,12
9
67
69
39,2
94,1
21
44
,251
,252
4,
957,
131
97
10
0
Stra
tegi
c A
lloca
tion
Pla
n IV
AB
L I
slam
ic I
ncom
e Fu
nd26
,844
,742
9,83
5,60
6
36
,680
,348
-
-
-
-
-
-
AB
L I
slam
ic S
tock
Fun
d-
-
-
-
-
-
-
-
-
AB
L I
slam
ic D
edic
ated
Sto
ck F
und
12,4
25,4
99
22
,925
,399
35
,350
,898
-
-
-
-
-
-
-
-
-
-
-
Cap
ital P
rese
rvat
ion
Plan
- I
AB
L I
slam
ic I
ncom
e Fu
nd34
,179
,335
12,5
96,2
92
19,2
45,6
99
27
,529
,927
28
2,27
0,19
1
29
8,63
0,88
6
16
,360
,695
71
71
AB
L I
slam
ic S
tock
Fun
d-
2,72
4,65
5
-
2,
724,
655
37
,000
,000
39,4
38,5
66
2,43
8,56
6
19
10A
BL
Isl
amic
Ded
icat
ed S
tock
Fun
d4,
285,
102
26
,054
,036
20
,475
,281
9,86
3,85
8
64,3
58,4
77
80
,175
,415
15
,816
,938
19
19
383,
628,
668
418,
244,
867
34,6
16,1
99
10
9
10
0
As
at D
ecem
ber
31, 2
019
1,15
7,87
6,04
5
1,28
2,43
5,43
0
124,
559,
385
As
at J
une
30, 2
019
2,44
2,48
0,36
6
2,26
7,28
2,34
4
(175
,198
,022
)
As
atJu
ly 0
1,20
19
Purc
hase
s du
ring
the
peri
od
Red
empt
ions
du
ring
the
peri
od
As
atD
ecem
ber
31,
2019
Car
ryin
g va
lue
as a
t Dec
embe
r 31
,20
19
Mar
ket v
alue
as
at D
ecem
ber
31,
2019
Unr
eali
sed
gain
as
at
Dec
embe
r 31
,20
19
Nam
e of
Inv
este
e Fu
nds
Mar
ket v
alue
as
a pe
rcen
tage
of
tota
l in
vest
men
ts o
f re
spec
tive
plan
Mar
ket v
alue
as
a pe
rcen
tage
of
net a
sset
s of
re
spec
tive
plan
----
----
----
---
% -
----
----
----
---
----
----
----
- R
upee
s --
----
----
----
----
----
----
----
----
- N
umbe
r of
uni
ts -
----
----
----
----
----
6.
(ref
er n
ote
1.2.
5)(r
efer
not
e 1.
2.7)
Not
e
Ope
ning
bal
ance
11,
543
-
1,15
6,41
6
-
-
-
1,16
7,95
9
-
-6.
1(3
,987
)
-
(394
,798
)
-
-
-
(398
,785
)
-
-
7,55
6
-
761,
618
-
-
-
769,
174
-
-
Ope
ning
bal
ance
19,4
52
-
1,
939,
574
-
-
-
-
-
1,95
9,02
66.
1(7
,909
)
-
(783
,158
)
-
-
-
-
-
(791
,067
)
11,5
43
-
1,15
6,41
6
-
-
-
-
-
1,
167,
959
6.1
7.
(ref
er n
ote
1.2.
5)(r
efer
not
e 1.
2.7)
Not
e
Rem
uner
atio
n of
the
Man
agem
ent
Com
pany
7.1
15,5
95
6,52
7
4,30
4
5,64
3
6,01
6
88,0
08
126,
093
12,1
11
-
-
7.
22,
536
1,03
3
668
826
1,13
2
14,1
07
20,3
02
1,93
9
--
F
eder
al E
xcis
e D
uty
on r
emun
erat
ion
of t
he M
anag
emen
t7.
314
,51
1
389
3,34
4
-
-
-
18,2
44
-
--
Rei
mbu
rsem
ent
of o
pera
tion
al e
xpen
ses
to t
he7.
426
4,36
9
84,1
86
37,6
02
127,
482
95,8
08
204,
040
813,
487
43,1
13
275,
810
-
Sal
es lo
ad p
ayab
le t
o th
e M
anag
emen
t C
ompa
ny-
-
-
-
-
79
79
-
297,
011
92,1
35
45,9
18
133,
951
102,
956
306,
234
978,
205
57,1
63
275,
810
Rem
uner
atio
n of
the
Man
agem
ent
Com
pany
7.1
1,39
1
1,77
0
1,95
1
4,46
7
3,71
5
1,40
2
2,06
5
18,6
35
35,3
96
7.2
264
274
291
638
637
394
513
2,96
7
5,97
8
Fed
eral
Exc
ise
Dut
y on
rem
uner
atio
n of
the
Man
agem
ent
7.3
14,5
11
389
3,34
4
-
-
-
-
-
18,2
44
Sal
es lo
ad p
ayab
le t
o th
e M
anag
emen
t C
ompa
ny-
-
3,92
1
-
-
-
-
107,
754
111,
675
Rei
mbu
rsem
ent
of o
pera
tion
al e
xpen
ses
to t
he7.
4-
52,0
12
22,4
85
-
-
-
206,
030
101,
323
381,
849
16,1
66
54,4
45
31,9
92
5,10
5
4,35
2
1,79
6
208,
607
230,
679
553,
141
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Dec
embe
r 31
, 201
9 --
----
----
----
----
----
----
----
----
----
----
----
----
----
-
Str
ateg
ic
All
ocat
ion
Pla
n II
Str
ateg
ic
All
ocat
ion
Pla
n IV
Con
serv
ativ
e
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n II
Cap
ital
P
rese
rvat
ion
Pla
n -
I
Pre
lim
inar
yex
pens
esan
dco
sts
repr
esen
tex
pend
itur
ein
curr
edpr
ior
toth
eco
mm
ence
men
tof
the
oper
atio
nsof
the
Fun
d.T
hese
are
bein
gam
orti
zed
over
ape
riod
ofye
ars
com
men
cing
from
the
end
ofth
ein
itia
lpe
riod
in
Con
serv
ativ
eA
lloc
atio
nP
lan
Agg
ress
ive
All
ocat
ion
Pla
n
Cap
ital
Pre
serv
atio
n P
lan
- I
Act
ive
All
ocat
ion
Pla
n
Agg
ress
ive
All
ocat
ion
Pla
n
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
Cap
ital
Pre
serv
atio
n P
lan
- I
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Dec
embe
r 31
, 201
9 --
----
----
----
----
----
----
----
----
----
----
----
----
----
-
Str
ateg
icA
lloc
atio
nP
lan
Act
ive
All
ocat
ion
Pla
n
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
June
30,
201
9 (A
udit
ed) S
trat
egic
All
ocat
ion
Pla
n II
I
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Str
ateg
icA
lloc
atio
nP
lan
III
Act
ive
All
ocat
ion
Pla
n
Con
serv
ativ
eA
lloc
atio
nP
lan
June
30,
201
9 (A
udit
ed)C
apit
al
Pre
serv
atio
n P
lan
- I
Str
ateg
ic
All
ocat
ion
Pla
n II
I
Str
ateg
ic
All
ocat
ion
Pla
n IV
Str
ateg
icA
lloc
atio
nP
lan
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- U
n-au
dite
d --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- U
n-au
dite
d --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Str
ateg
icA
lloc
atio
nP
lan
II
Str
ateg
icA
lloc
atio
nP
lan
IV
Act
ive
All
ocat
ion
Pla
n
Agg
ress
ive
All
ocat
ion
Pla
n
Con
serv
ativ
e
All
ocat
ion
Pla
n
Str
ateg
ic
All
ocat
ion
Pla
n
Agg
ress
ive
All
ocat
ion
Pla
n
Str
ateg
icA
lloc
atio
nP
lan
II
Str
ateg
icA
lloc
atio
nP
lan
IV
Str
ateg
icA
lloc
atio
nP
lan
III
7.1
7.2
7.3
7.4
8.A
CC
RU
ED
EX
PE
NS
ES
AN
D O
TH
ER
LIA
BIL
ITIE
S
(ref
er n
ote
1.2.
5)(r
efer
not
e 1.
2.7)
Aud
itors
' rem
uner
atio
n22
,554
1,
132
97
8
1,9
76
796
68
,159
95,5
9515
,000
30,6
0349
,437
6,
510
2,
137
13,
744
12,8
46
21,0
40
10
5,71
414
,368
22,8
30W
ithho
ldin
g ta
x pa
yabl
e42
,572
15
,199
.54
25
,665
52
184
58
8
84,2
61-
6,76
8S
hari
ah a
dvis
or f
ee p
ayab
le5,
684
8,
454
4,
466
3,
364
9,2
85
2,98
4
34,2
37-
6,04
68.
1
1,
788,
733
93
0,34
2
2,75
1,72
7
83,5
42
-
25
1,54
8
-
6,23
6,17
4
1,82
0,02
9
963,
588
2,
770,
863
10
6,65
3
92
,771
28
0,91
6
66
,247
Aud
itors
' rem
uner
atio
n35
,224
2,
004
-
7,48
2
8,
467
8,
408
21
,352
44,5
01
12
7,43
822
,135
3,
017
-
6,34
2
14
,368
2,
372
16
,152
9,73
2
With
hold
ing
tax
paya
ble
-
0
15
7,18
3
52
-
92
22
,521
1,09
7,26
7
Sha
riah
adv
isor
fee
pay
able
7,39
2
8,
216
4,
733
14,3
83
12,0
98
3,
464
9,
781
9,
555
69
,622
Div
iden
d P
ayab
le-
-
-
-
-
-
-
30,9
03
30,9
03P
ayab
le U
nith
olde
r ag
ains
t Pre
IP
O-
-
-
-
-
-
-
181,
224
181,
224
8.1
1,78
8,73
3
930,
342
2,75
1,72
7
251,
548
83,5
42
-
-
6,18
0,67
8
1,80
1,97
2
1,09
2,25
8
2,77
9,98
6
286,
481
97,8
78
69,8
05
1,37
3,18
1
13,6
82,2
38
8.1.
9.C
ON
TIN
GE
NC
IES
AN
D C
OM
MIT
ME
NT
S
The
re w
ere
no o
ther
con
tinge
ncie
s an
d co
mm
itmen
ts o
utst
andi
ng a
s at
Dec
embe
r 31
, 201
9 (J
une
30, 2
019
:Nil)
bnS
trat
egic
All
ocat
ion
Pla
n IV
Con
serv
ativ
eA
lloc
atio
nP
lan
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-- R
upee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Str
ateg
ic
Allo
catio
n
Pla
n II
I
Cap
ital
Pre
serv
atio
n P
lan
- I
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Dec
embe
r 31
, 201
9 --
----
----
----
----
----
----
----
----
----
----
----
----
----
-
The
reis
noch
ange
inth
est
atus
ofap
peal
byFe
dera
lBoa
rdof
Rev
enue
inth
eH
onor
able
Sup
rem
eC
ourt
ofP
akis
tan
inre
spec
tof
levy
ofFe
dera
lExc
ise
Dut
y(F
ED
)as
repo
rted
inan
nual
stat
emen
tsof
the
Fund
for
the
year
ende
d
June
30,2
019.
Had
the
said
prov
isio
nfo
rFE
Dno
tbe
enre
cord
edin
the
cond
ense
dha
lfye
arin
form
atio
nof
Fund
,th
ene
tas
set
valu
eof
fund
asat
Dec
embe
r31
,20
19w
ould
behi
gher
byR
e.0.
0028
,R
e.0.
0008
,Re.
0.01
57pe
run
it
Agg
ress
ive
All
ocat
ion
Pla
n
Str
ateg
icA
lloc
atio
nP
lan
Tota
l
June
30,
201
9 (A
udite
d)A
ctiv
e
Allo
catio
n
Pla
n
Agg
ress
ive
Allo
catio
n
Pla
n
Con
serv
ativ
e
Allo
catio
n
Pla
n
Str
ateg
ic
Allo
catio
n
Pla
n
Str
ateg
ic
Allo
catio
n
Pla
n II
Str
ateg
icA
lloc
atio
nP
lan
III
Str
ateg
ic
Allo
catio
n
Pla
n IV
Tot
al
The
reis
noch
ange
inth
est
atus
ofS
WW
Fas
repo
rted
inth
ean
nual
stat
emen
tsof
the
Fund
for
the
year
ende
dJu
ne30
,20
19.H
adth
epr
ovis
ion
for
SW
WF
not
been
reco
rded
inth
eco
nden
sed
half
year
info
rmat
ion
ofth
e
Fund
,the
net
asse
tva
lue
ofth
eFu
ndas
atD
ecem
ber
31,2
019
wou
ldha
vebe
enhi
gher
byR
e.1.
1673
,Re.
3.47
78,R
e.4.
3687
,Re.
1.63
69,&
Re.
0.20
44pe
run
it(J
une
30,2
019:
Re.
1.01
45,R
e.2.
0674
,Re.
2.94
221,
Re.
1.10
13,R
e.0.
0954
&
Cap
ital
P
rese
rvat
ion
Pla
n -
I
Act
ive
All
ocat
ion
Pla
n
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
- U
n-au
dite
d --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Und
erth
epr
ovis
ions
ofth
eN
BFC
Reg
ulat
ions
,the
Man
agem
entC
ompa
nyis
entit
led
toa
rem
uner
atio
nof
anam
ount
note
xcee
ding
1.5
%of
the
aver
age
annu
alne
tass
ets
ofth
eFu
nd.F
urth
er,
aspe
rth
ere
quir
emen
tof
NB
FCR
egul
atio
ns,t
he
Man
agem
ent
Com
pany
shal
lno
tan
yfe
eif
the
Fund
inve
sts
inth
esc
hem
esm
anag
edby
the
sam
eas
set
man
agem
ent
Dur
ing
the
peri
od,m
ost
ofth
eas
sets
ofpl
ans
wer
ein
vest
edin
the
sche
mes
man
aged
byth
eM
anag
emen
t
Com
pany
exce
ptfo
rce
rtai
npe
riod
duri
ngw
hich
the
fund
sof
Str
ateg
icA
loca
tion
Pla
n-
IIw
ere
depo
site
din
aba
nkac
coun
t,fo
rw
hich
the
Man
agem
ent
Com
pany
has
nom
inal
amou
ntof
man
agem
ent
fees
.Fur
ther
,as
per
the
amen
ded
Up
till
June
19,
2019
,in
acco
rdan
cew
ithth
epr
ovis
ions
ofth
eN
BFC
Reg
ulat
ions
,20
08(a
sam
ende
dvi
deS
.R.O
/20
15da
ted
Nov
embe
r25
,20
15),
the
Man
agem
ent
Com
pany
was
entit
led
toex
pens
esre
late
dto
regi
stra
r
serv
ices
,acc
ount
ing,
oper
atio
nsan
dva
luat
ion
serv
ices
,rel
ated
toa
Col
lect
ive
Inve
stm
entS
chem
e(C
IS)
atth
era
teof
0.1%
ofth
eav
erag
ean
nual
neta
sset
sof
the
sche
me
orac
tual
whi
chev
eris
less
.Fur
ther
,SE
CP
,vid
eS
RO
no.6
39(I
)/20
19
date
dJu
ne20
,201
9,ha
sre
mov
edth
em
axim
umca
pof
0.1%
.How
ever
,the
Man
agem
entC
ompa
nyha
sco
ntin
ued
toex
pens
esat
the
rate
of0.
1%pe
ran
num
ofth
eav
erag
ean
nual
neta
sset
sof
the
Fund
bein
glo
wer
than
actu
alex
pens
es
10.
TAX
AT
ION
11.
EA
RN
ING
S PE
R U
NIT
(E
PU)
12.
TO
TAL
EX
PE
NS
E R
AT
IO
Tot
al e
xpen
se r
atio
0.14
%0.
15%
1.49
%0.
14%
0.05
%0.
15%
0.06
%0.
17%
Gov
ernm
ent L
evie
s, S
WW
F an
d SE
CP
Fee
0.02
%0.
02%
0.02
%0.
02%
0.01
%0.
02%
0.01
%0.
02%
Act
ive
Allo
catio
nPl
an
Agg
ress
ive
Allo
catio
nPl
an
The
Sch
eme
has
mai
ntai
ned
Tot
al e
xpen
se r
atio
(T
ER
) ar
e as
fol
low
s:
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Dec
embe
r 31
, 201
9 --
----
----
----
----
----
----
----
----
----
----
----
----
----
-St
rate
gic
Allo
catio
nPl
an I
II
Ear
ning
s pe
r un
it (E
PU)
has
not b
een
disc
lose
d as
in th
e op
inio
n of
man
agem
ent,
dete
rmin
atio
n of
the
cum
ulat
ive
wei
ghte
d av
erag
e nu
mbe
r of
out
stan
ding
uni
ts f
or c
alcu
latin
g E
PU
is n
ot p
ract
icab
le.
Stra
tegi
cA
lloca
tion
Plan
II
Con
serv
ativ
eA
lloca
tion
Plan
Stra
tegi
cA
lloca
tion
Plan
Cap
ital
Pres
erva
tion
Plan
- I
Stra
tegi
cA
lloca
tion
Plan
IV
The
inco
me
ofth
eFu
ndis
exem
ptfr
omin
com
eta
xas
per
clau
se99
ofpa
rtI
ofth
eSe
cond
Sche
dule
toth
eIn
com
eT
axO
rdin
ance
,200
1su
bjec
tto
the
cond
ition
that
notl
ess
than
nine
type
rcen
tof
itsac
coun
ting
inco
me
for
the
year
,as
redu
ced
byca
pita
lga
ins,
whe
ther
real
ised
orun
real
ised
,is
dist
ribu
ted
toth
eun
itho
lder
s.T
heM
anag
emen
tC
ompa
nyin
tend
sto
dist
ribu
teth
roug
hca
shat
leas
t90
%of
the
Fund
'sne
tac
coun
ting
inco
me
earn
edby
the
year
end
toits
unit
hold
ers.
The
Fun
d is
als
o ex
empt
fro
m th
e pr
ovis
ions
of
sect
ion
113
(min
imum
tax)
und
er c
laus
e 11
A o
f P
art I
V o
f th
e S
econ
d Sc
hedu
le to
the
Inco
me
Tax
Ord
inan
ce, 2
001.
13.
13
.1D
etai
ls o
f tr
ansa
ctio
ns
wit
h th
e re
late
d p
arti
es /
conn
ecte
d p
erso
ns d
urin
g t
he p
erio
d a
re a
s fo
llow
s:
For
the
per
iod
ended
S
epte
mber
8,
2019
For
the
half
y
ear
ended
D
ecem
ber
31
, 2019
For
the
per
iod
ended
S
epte
mber
17
, 2019
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed -
Man
agem
ent
Com
pan
y
Rem
uner
atio
n o
f th
e M
anag
emen
t C
om
pan
y2
4,8
72
7,3
89
6,9
47
13
,05
9
12
,11
1
9,0
31
37
12
6,8
28
20
0,2
74
3,9
87
-
39
4,7
98
-
-
-
-
-
39
8,7
85
3,9
80
1,1
82
1,1
12
2,0
89
1,9
39
1,4
45
6
20
,33
4
32
,08
7
All
oca
tio
n E
xp
ense
26
4,3
69
32
,17
2
15
,11
7
12
7,4
82
43
,11
3
95
,80
8
71
,58
1
20
4,0
57
85
3,6
99
All
ied B
ank
Lim
ited
- H
old
ing
Com
pan
y o
f th
e M
anag
emen
t C
om
pan
y
16
9,6
32
34
,87
7
49
,59
1
70
,32
2
57
,91
3
32
6,7
22
153
33
1,1
18
1,0
40
,32
8
AB
L I
slam
ic D
edic
ated
Sto
ck F
und
Pu
rch
ase
of
13
,57
3,9
33
un
its
- A
ctiv
e A
llo
cati
on
Pla
n8
5,0
00
,00
0
-
-
-
-
-
-
-
85
,00
0,0
00
Red
emp
tio
n o
f 2
7,3
08,8
51
un
its
- A
ctiv
e A
llo
cati
on
Pla
n1
82,8
00,0
00
-
-
-
-
-
-
-
18
2,8
00
,000
Pu
rch
ase
of
1,2
77
,38
6
un
its
- A
ggre
ssiv
e A
llo
cati
on
Pla
n-
9,5
00
,00
0
-
-
-
-
-
-
9,5
00
,00
0
Red
emp
tio
n o
f 3
,65
7,9
04
un
its
- A
ggre
ssiv
e A
llo
cati
on
Pla
n-
24
,74
5,0
00
-
-
-
-
-
-
24
,74
5,0
00
Red
emp
tio
n o
f 2
05,3
27
un
its
- C
on
serv
ativ
e A
llo
cati
on
Pla
n-
-
1,4
00
,00
0
-
-
-
-
-
1,4
00
,00
0
Pu
rch
ase
of
26
,65
4,4
28
un
its
- S
trat
egic
All
oca
tio
n P
lan
-
-
-
17
6,5
00,0
00
-
-
-
-
17
6,5
00
,000
Red
emp
tio
n o
f 1
8,4
78,9
67
un
its
- S
trat
egic
All
oca
tio
n P
lan
-
-
-
12
3,4
95,0
00
-
-
-
-
12
3,4
95
,000
Pu
rch
ase
of
45
,30
6,1
39
u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
I-
-
-
-
2
80,6
20,3
17
-
-
-
28
0,6
20
,317
Red
emp
tio
n o
f 5
5,1
80,0
87
u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
I-
-
-
-
3
38,7
83,9
42
-
-
-
33
8,7
83
,942
Pu
rch
ase
of
20
,35
2,0
62
u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
II-
-
-
-
-
1
27,0
00
,000
-
-
12
7,0
00
,000
Red
emp
tio
n o
f 2
8,8
09,9
43
u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
II-
-
-
-
-
1
87,9
50
,000
-
-
18
7,9
50
,000
Pu
rch
ase
of
22
,92
5,3
99
u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
V-
-
-
-
-
-
1
40,0
00
,000
-
14
0,0
00
,000
Red
emp
tio
n o
f 3
5,3
50,8
98
u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
V-
-
-
-
-
-
2
25,0
41
,917
-
22
5,0
41
,917
P
urc
has
e of
26
,05
4,0
36
u
nit
s -
Cap
ital
Pre
serv
atio
n P
lan
- I
-
-
-
-
-
-
-
1
64,0
00
,000
1
64,0
00
,000
R
edem
pti
on
of
20
,47
5,2
81
u
nit
s -
Cap
ital
Pre
serv
atio
n P
lan
- I
-
-
-
-
-
-
-
1
30,7
80
,326
1
30,7
80
,326
A
BL
Isl
amic
Inc
om
e F
und
Pu
rch
ase
of
17
,70
8,0
75
u
nit
s -
Act
ive
All
oca
tio
n P
lan
18
5,6
83,5
66
-
-
-
-
-
-
-
18
5,6
83
,566
R
edem
pti
on
of
25
,90
2,1
96
u
nit
s -
Act
ive
All
oca
tio
n P
lan
27
2,3
00,0
00
-
-
-
-
-
-
-
27
2,3
00
,000
P
urc
has
e of
85
3,6
63
un
its
- A
ggre
ssiv
e A
llo
cati
on
Pla
n-
9,0
00
,00
0
-
-
-
-
-
9,0
00
,00
0
R
edem
pti
on
of
3,1
46
,65
6
un
its
- A
ggre
ssiv
e A
llo
cati
on
Pla
n-
33
,30
5,0
00
-
-
-
-
-
-
33
,30
5,0
00
Red
emp
tio
n o
f 8
37,0
89
un
its
- C
on
serv
ativ
e A
llo
cati
on
Pla
n-
-
8,8
00
,00
0
-
-
-
-
-
8,8
00
,00
0
P
urc
has
e of
10
,03
0,9
00
un
its
- S
trat
egic
All
oca
tio
n P
lan
-
-
-
10
4,5
00,0
00
-
-
-
-
10
4,5
00
,000
R
edem
pti
on
of
23
,33
0,8
48
un
its
- S
trat
egic
All
oca
tio
n P
lan
-
-
-
24
7,1
46,1
04
-
-
-
-
24
7,1
46
,104
P
urc
has
e of
12
,06
2,3
16
un
its
- S
trat
egic
All
oca
tio
n P
lan I
I-
-
-
-
12
5,0
00,0
00
-
-
-
12
5,0
00
,000
Red
emp
tio
n o
f 2
8,1
94,2
16
un
its
- S
trat
egic
All
oca
tio
n P
lan I
I-
-
-
-
29
2,8
23,1
15
-
-
-
29
2,8
23
,11
5
Pu
rch
ase
of
10
,63
1,8
02
un
its
- S
trat
egic
All
oca
tio
n P
lan I
II-
-
-
-
-
11
0,5
00
,00
0
-
-
11
0,5
00
,00
0
Red
emp
tio
n o
f 3
5,7
86,5
42
un
its
- S
trat
egic
All
oca
tio
n P
lan I
II-
-
-
-
-
37
4,7
23
,133
-
-
37
4,7
23
,133
Pu
rch
ase
of
9,8
35
,60
6
un
its
- S
trat
egic
All
oca
tio
n P
lan I
V-
-
-
-
-
-
10
2,0
00
,000
-
10
2,0
00
,000
Red
emp
tio
n o
f 3
6,6
80,3
48
un
its
- S
trat
egic
All
oca
tio
n P
lan I
V-
-
-
-
-
-
38
2,5
36
,868
-
38
2,5
36
,868
Pu
rch
ase
of
12
,59
6,2
92
un
its
- C
apit
al P
rese
rvat
ion
Pla
n -
I-
-
-
-
-
-
-
13
0,6
20
,326
13
0,6
20
,326
Red
emp
tio
n o
f 1
9,2
45,6
99
un
its
- C
apit
al P
rese
rvat
ion
Pla
n -
I-
-
-
-
-
-
-
20
1,6
40
,000
20
1,6
40
,000
-
AB
L I
slam
ic S
tock
Fun
d
Pu
rch
ase
of
11,9
70
,681
un
its
- A
ctiv
e A
llo
cati
on
Pla
n1
50,0
00,0
00
-
-
-
-
-
-
-
15
0,0
00
,000
Red
emp
tio
n o
f 4
,64
5,1
56
un
its
- A
ctiv
e A
llo
cati
on
Pla
n5
1,6
83
,56
6
-
-
-
-
-
-
-
51
,68
3,5
66
Pu
rch
ase
of
50
9,5
32
un
its
- A
ctiv
e A
llo
cati
on
Pla
n-
7,0
00
,00
0
-
-
-
-
-
-
7,0
00
,00
0
Red
emp
tio
n o
f 5
0,8
92
un
its
- A
ggre
ssiv
e A
llo
cati
on
Pla
n-
75
0,0
00
-
-
-
-
-
-
75
0,0
00
Red
emp
tio
n o
f 6
7,5
63
un
its
- C
on
serv
ativ
e A
llo
cati
on
Pla
n-
-
80
0,0
00
-
-
-
-
-
80
0,0
00
Pu
rch
ase
of
2,2
07
,83
2
un
its
- S
trat
egic
All
oca
tio
n P
lan
-
-
-
31
,00
0,0
00
-
-
-
-
31
,00
0,0
00
Red
emp
tio
n o
f 2
,18
3,7
90
un
its
- S
trat
egic
All
oca
tio
n P
lan
-
-
-
31
,16
4,8
70
-
-
-
-
31
,16
4,8
70
Pu
rch
ase
of
50
9,5
32
un
its
- S
trat
egic
All
oca
tio
n P
lan I
II-
-
-
-
-
7,0
00
,00
0
-
-
7,0
00
,00
0
Red
emp
tio
n o
f 5
03,9
83
un
its
- S
trat
egic
All
oca
tio
n P
lan I
II-
--
--
7,1
92
,34
8-
-7
,19
2,3
48
Pu
rch
ase
of
2,7
24
,65
5u
nit
s -
Cap
ital
Pre
serv
atio
n P
lan
- I
--
--
--
-3
7,0
00,0
00
37
,00
0,0
00
Rem
uner
atio
n2
04,6
80
23
,80
41
1,7
88
99
,90
82
7,7
34
70
,46
75
1,6
32
15
9,2
63
64
9,2
76
26
,60
83
,25
51
,53
41
2,9
90
3,5
97
9,1
63
6,7
11
20
,70
68
4,5
64
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Un-
audit
ed -
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Cap
ital
P
rese
rvat
ion
Pla
n -
I
Str
ateg
icA
lloca
tion
Pla
n II
IT
ota
lC
ons
erv
ativ
eA
lloca
tion
Pla
n
Act
ive
All
oca
tion
Pla
n
Agg
ress
ive
All
oca
tion
Pla
n
For
the
half
yea
r en
ded
Dec
ember
31
, 2
01
9F
or
the
half
yea
r en
ded
Dec
ember
3
1, 20
19
Str
ateg
icA
lloca
tion
Pla
n
Str
ateg
icA
lloca
tion
Pla
n II
Str
ateg
icA
lloca
tion
Pla
n IV
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
(Con
tinu
ed)
AB
L A
sset
Man
agem
ent
Com
pany
Lim
ited
- M
anag
emen
t C
ompa
nyR
emu
ner
atio
n o
f th
e M
anag
emen
t C
om
pan
y1
8,8
80
28
,71
2
16
,82
4
36
,43
4
11
,21
3
15
,95
0
10
,59
2
-
13
8,6
05
3,9
87
-
39
4,7
98
-
-
-
-
-
39
8,7
85
3,0
08
4,6
35
2,6
83
5,8
07
1,8
06
2,5
26
1,8
59
-
22
,32
4A
llo
cati
on
Ex
pen
se5
65
,03
2
10
8,1
91
56
,93
8
30
2,2
88
35
3,3
76
29
0,5
21
31
7,4
38
-
1,9
93
,78
4
All
ied
Ban
k L
imit
ed -
Hol
ding
Com
pany
of
the
Man
agem
ent
Com
pany
12
,29
6
5,7
71
12
,66
6
4,8
22
4,3
21
8,4
67
19
,47
1
-
67
,81
45
1,5
99
96
,75
4
46
,47
1
15
1,5
55
23
,65
8
52
,75
6
30
,92
8
-
45
3,7
21
AB
L I
slam
ic D
edic
ated
Sto
ck F
und
Red
emp
tio
n o
f 1
1,7
23
,79
2u
nit
s -
Act
ive
All
oca
tio
n P
lan
95
,56
6,0
00
-
-
-
-
-
-
-
95
,56
6,0
00
Red
emp
tio
n o
f 5
,48
3,1
67
un
its
- A
ggre
ssiv
e A
llo
cati
on
Pla
n-
46
,96
5,0
00
-
-
-
-
-
-
46
,96
5,0
00
Red
emp
tio
n o
f 1
,20
7,6
06
un
its
- C
on
serv
ativ
e A
llo
cati
on
Pla
n-
-
9,9
41
,50
0
-
-
-
-
-
9,9
41
,50
0R
edem
pti
on
of
9,8
43
,16
9u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n-
-
-
84
,89
0,0
00
-
-
-
-
84
,89
0,0
00
Red
emp
tio
n o
f 4
,99
7,0
14
un
its
- S
trat
egic
All
oca
tio
n P
lan
II
-
-
-
-
42
,33
8,0
00
-
-
-
42
,33
8,0
00
Pu
rch
ase
of
3,2
41
,59
7u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
II-
-
-
-
-
28
,00
0,0
00
-
-
28
,00
0,0
00
Red
emp
tio
n o
f 3
,13
2,8
34
un
its
- S
trat
egic
All
oca
tio
n P
lan
III
-
-
-
-
-
25
,54
1,0
00
-
-
25
,54
1,0
00
Pu
rch
ase
of
3,3
58
,58
5u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
V-
-
-
-
-
-
29
,00
0,0
00
-
29
,00
0,0
00
Red
emp
tio
n o
f 5
,85
3,4
02
un
its
- S
trat
egic
All
oca
tio
n P
lan
IV
-
-
-
-
-
-
47
,73
8,5
00
-
47
,73
8,5
00
AB
L I
slam
ic I
ncom
e F
und
Pu
rch
ase
of
1,6
47
,75
0
un
its
- A
ctiv
e A
llo
cati
on
Pla
n1
6,9
49
,39
4
-
-
-
-
-
-
-
16
,94
9,3
94
Red
emp
tio
n o
f 5
,22
4,7
88
un
its
- A
ctiv
e A
llo
cati
on
Pla
n5
4,2
88
,00
0
-
-
-
-
-
-
-
54
,28
8,0
00
Pu
rch
ase
of
29
9,9
10
un
its
- A
ggre
ssiv
e A
llo
cati
on
Pla
n-
3,0
85
,01
3
-
-
-
-
-
-
3,0
85
,01
3R
edem
pti
on
of
2,6
46
,52
4
un
its
- A
ggre
ssiv
e A
llo
cati
on
Pla
n-
27
,46
5,7
50
-
-
-
-
-
-
27
,46
5,7
50
Pu
rch
ase
of
45
9,3
61
un
its
- C
on
serv
ativ
e A
llo
cati
on
Pla
n-
4,7
26
,09
9
-
-
-
-
-
4,7
26
,09
9R
edem
pti
on
of
6,0
48
,00
2
un
its
- C
on
serv
ativ
e A
llo
cati
on
Pla
n-
-
62
,61
1,5
00
-
-
-
-
-
62
,61
1,5
00
Pu
rch
ase
of
1,2
83
,25
1
un
its
- S
trat
egic
All
oca
tio
n P
lan
-
-
-
13
,20
0,5
96
-
-
-
-
13
,20
0,5
96
Red
emp
tio
n o
f 1
1,8
65
,90
9
un
its
- S
trat
egic
All
oca
tio
n P
lan
-
-
-
12
3,1
65
,00
0
-
-
-
-
12
3,1
65
,00
0P
urc
has
e o
f 1
56
47
62
un
its
- S
trat
egic
All
oca
tio
n P
lan
II
-
-
-
-
16
,09
5,6
90
-
-
-
16
,09
5,6
90
Red
emp
tio
n o
f 1
02
94
44
8u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
I-
-
-
-
10
6,2
50
,00
0
-
-
-
10
6,2
50
,00
0P
urc
has
e o
f 1
,60
7,3
89
un
its
- S
trat
egic
All
oca
tio
n P
lan
III
-
-
-
-
-
16
,53
4,0
53
-
-
16
,53
4,0
53
Red
emp
tio
n o
f 1
1,4
64
,43
3
un
its
- S
trat
egic
All
oca
tio
n P
lan
III
-
-
-
-
-
11
8,5
56
,00
0
-
-
11
8,5
56
,00
0P
urc
has
e o
f 1
,95
6,0
45
un
its
- S
trat
egic
All
oca
tio
n P
lan
IV
-
-
-
-
-
-
20
,12
0,5
72
-
20
,12
0,5
72
Red
emp
tio
n o
f 1
8,1
20
,18
7
un
its
- S
trat
egic
All
oca
tio
n P
lan
IV
-
-
-
-
-
-
18
7,6
20
,00
0
-
18
7,6
20
,00
0
AB
L I
slam
ic S
tock
Fun
d
Red
emp
tio
n o
f 6
7,6
00
un
its
- A
ctiv
e A
llo
cati
on
Pla
n9
46
,00
0
-
-
-
-
-
-
-
94
6,0
00
Red
emp
tio
n o
f 1
,30
1,1
04
un
its
- A
ggre
ssiv
e A
llo
cati
on
Pla
n-
19
,23
4,5
00
-
-
-
-
-
-
19
,23
4,5
00
Pu
rch
ase
of
27
0,6
38
un
its
- C
on
serv
ativ
e A
llo
cati
on
Pla
n-
-
4,0
00
,00
0
-
-
-
-
-
4,0
00
,00
0R
edem
pti
on
of
32
2,8
36
un
its
- C
on
serv
ativ
e A
llo
cati
on
Pla
n-
-
4,5
95
,50
0
-
-
-
-
-
4,5
95
,50
0R
edem
pti
on
of
4,4
09
,33
4
un
its
- S
trat
egic
All
oca
tio
n P
lan
-
-
-
65
,64
5,0
00
-
-
-
-
65
,64
5,0
00
Pu
rch
ase
of
3,7
76
,54
3
un
its
- S
trat
egic
All
oca
tio
n P
lan
II
--
--
53
,00
0,0
00
--
-
53
,00
0,0
00
Red
emp
tio
n o
f 7
44
96
8u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
I-
--
-1
0,9
12
,00
0-
--
10
,91
2,0
00
Pu
rch
ase
of
20
79
97
1u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
II-
--
--
31
,00
0,0
00
--
31
,00
0,0
00
Red
emp
tio
n o
f 1
02
53
17
un
its
- S
trat
egic
All
oca
tio
n P
lan
III
--
--
-1
4,4
03
,00
0-
-1
4,4
03
,00
0P
urc
has
e o
f 2
21
52
90
un
its
- S
trat
egic
All
oca
tio
n P
lan
IV
--
--
--
33
,00
0,0
00
-3
3,0
00
,00
0R
edem
pti
on
of
20
30
78
0u
nit
s -
Str
ateg
ic A
llo
cati
on
Pla
n I
V-
--
--
-2
8,5
41
,50
0-
28
,54
1,5
00
Rem
un
erat
ion
41
7,4
34
81
,37
94
3,2
54
22
7,1
90
26
7,8
36
21
9,8
94
23
8,6
67
-1
,49
5,6
55
54
,28
61
0,5
81
5,6
26
29
,53
43
4,8
18
28
,58
63
1,0
26
-1
94
,45
7
Str
ateg
ic
All
oca
tio
n
Pla
n I
V
Str
ateg
ic
All
oca
tio
n
Pla
n I
II--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Ru
pee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----T
ota
l
Fo
r th
e h
alf
year
en
ded
Dec
emb
er 3
1, 2
01
8C
apit
al
Pre
serv
atio
n P
lan
- I
Act
ive
All
oca
tio
n
Pla
n
Agg
ress
ive
All
oca
tio
n
Pla
n
Co
nse
rvat
ive
All
oca
tio
n
Pla
n
Str
ateg
ic
All
oca
tio
n
Pla
n
Str
ateg
ic
All
oca
tio
n
Pla
n I
I
13
.2A
mou
nts
outs
tand
ing
as a
t pe
riod
end
wit
h re
late
d p
arti
es /
con
nect
ed p
erso
ns a
re a
s fo
llow
s:
(ref
er n
ote
1.2
.5)
(ref
er n
ote
1.2
.7)
Rem
une
rati
on
of
the
Man
agem
ent
Com
pan
y1
5,5
95
6,5
27
4,3
04
5,6
43
6,0
16
88
,00
8
12
6,0
93
12
,11
1
-
Pu
nja
b S
ales
Tax
on
rem
uner
atio
n o
f th
e M
anag
emen
t C
om
pan
y2
,53
6
1,0
33
668
826
1,1
32
14
,10
7
20
,30
2
1,9
39
-
Fed
eral
Ex
cise
Du
ty o
n r
emu
nera
tio
n o
f th
e M
anag
emen
t1
4,5
11
389
3,3
44
-
-
-
18
,24
4
-
-
Sal
es l
oad
pay
able
to
the
Man
agem
ent
Co
mp
any
-
-
-
-
-
79
79
-
-
Rei
mb
urs
emen
t o
f o
per
atio
nal
ex
pen
ses
to t
he
26
4,3
69
84
,18
6
37
,60
2
12
7,4
82
95
,80
8
20
4,0
40
81
3,4
87
43
,11
3
27
5,8
10
All
ied
Ban
k L
imit
ed -
Hol
ding
Com
pany
of
the
Man
agem
ent
Com
pany
18
,64
4,0
23
1,9
28
,36
2
2,7
69
,93
8
39
7,5
76
1,5
24
,27
2
4,4
08
,32
2
29
,67
2,4
93
20
3,9
56
,903
31
2,6
31
,944
7,0
03
6,0
41
4,7
38
5,8
17
16
,49
4
13
3,7
53
17
3,8
46
6,1
98
7,8
62
31
,55
1,1
75
un
its
hel
d b
y A
ctiv
e A
llo
cati
on
Pla
n2
56,
45
4,2
57
-
-
-
-
-
25
6,4
54
,257
-
-
3,2
60
,73
5u
nit
s h
eld
by
Agg
ress
ive
All
ocat
ion
Pla
n-
26
,50
3,9
02
-
-
-
-
26
,50
3,9
02
-
-
27
1,8
66u
nit
s h
eld
by
Co
nser
vati
ve A
llo
cati
on
Pla
n-
-
2,2
09
,78
2
-
-
-
2,2
09
,78
2
-
-
16
,15
8,3
99
un
its
hel
d b
y S
trat
egic
All
oca
tio
n P
lan
-
-
-
13
1,3
38,
690
-
-
13
1,3
38
,690
-
-
3,7
37
,28
8u
nit
s h
eld
by
Str
ateg
ic A
llo
cati
on
Pla
n I
II-
-
-
-
3
0,3
77
,42
5
-
30
,37
7,4
25
-
-
9,8
63
,85
8u
nit
s h
eld
by
Cap
ital
Pre
serv
atio
n P
lan
I-
-
-
-
-
8
0,1
75,
41
5
80
,17
5,4
15
-
-
16
,79
5,1
91
un
its
hel
d b
y A
ctiv
e A
llo
cati
on
Pla
n1
82,
18
5,8
31
-
-
-
-
-
1
82,1
85
,831
-
-
1
,95
5,7
36
un
its
hel
d b
y A
ggre
ssiv
e A
lloc
atio
n P
lan
-
21
,21
4,8
56
-
-
-
-
21,2
14,8
56
-
-
1,7
46
,21
2u
nit
s h
eld
by
Co
nser
vati
ve A
llo
cati
on
Pla
n-
-
1
8,9
42
,03
0
-
-
-
18
,94
2,0
30
-
-
6,1
55
,36
9u
nit
s h
eld
by
Str
ateg
ic A
llo
cati
on
Pla
n-
-
-
6
6,7
70
,30
8
-
-
66
,77
0,3
08
-
-
1,2
71
,58
6u
nit
s h
eld
by
Str
ateg
ic A
llo
cati
on
Pla
n I
II-
-
-
-
1
3,7
93
,51
6
-
13
,79
3,5
16
-
-
27
,52
9,9
27
un
its
hel
d b
y C
apit
al P
rese
rvat
ion
Pla
n -
I-
-
-
-
-
2
98,
630
,886
29
8,6
30
,886
-
-
7,3
25
,52
5u
nit
s h
eld
by
Act
ive
All
oca
tio
n P
lan
10
6,0
34,
767
-
-
-
-
-
10
6,0
34
,767
-
-
45
8,6
40u
nit
s h
eld
by
Agg
ress
ive
All
ocat
ion
Pla
n-
6,6
38
,67
0
-
-
-
-
6,6
38
,67
0
-
-
89
,68
9u
nit
s h
eld
by
Co
nser
vati
ve A
llo
cati
on
Pla
n-
-
1,2
98
,22
4
-
-
-
1,2
98
,22
4
-
-
24
,04
2u
nit
s h
eld
by
Str
ateg
ic A
llo
cati
on
Pla
n-
-
-
34
7,9
94
-
-
34
7,9
94
-
-
5,5
48
un
its
hel
d b
y S
trat
egic
All
oca
tio
n P
lan
III
-
-
-
-
80
,31
1
-
80
,31
1
-
-
2,7
24
,65
5u
nit
s h
eld
by
Str
ateg
ic A
llo
cati
on
Pla
n I
V-
-
-
-
-
39
,43
8,5
66
39
,43
8,5
66
-
-
Rem
une
rati
on
pay
able
41
,92
3
3,3
37
1,9
48
19
,37
2
5,0
95
28
,83
0
10
0,5
05
2,9
09
11
,68
7
Sin
dh
Sal
es T
ax p
ayab
le o
n r
emu
ner
atio
n o
f th
e tr
uste
e5
,45
0
593
253
2,5
19
662
3,7
52
13
,22
9
369
1,5
19
Rem
une
rati
on
of
the
Man
agem
ent
Com
pan
y1
,39
11
,77
01
,95
14
,46
73
,71
51
,40
22
,06
51
8,6
35
35
,39
6S
ind
h s
ales
tax
on
rem
un
erat
ion
of
the
Man
agem
ent
Co
mp
any
264
274
291
638
637
394
513
2,9
67
5,9
78
Fed
eral
Ex
cise
Du
ty o
n r
emu
nera
tio
n o
f th
e M
anag
emen
t C
omp
any
14
,511
389
3,3
44
--
--
-1
8,2
44
Sal
es l
oad
pay
able
to
the
Man
agem
ent
Co
mp
any
--
3,9
21
--
--
10
7,7
54
111
,67
5R
eim
bu
rsem
ent
of
op
erat
ion
al e
xp
ense
s to
th
e M
anag
emen
t C
om
pan
y-
52
,01
22
2,4
85
--
-2
06,0
30
10
1,3
23
38
1,8
49
Str
ateg
ic
All
oca
tio
n
Pla
n--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Rup
ees
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Agg
ress
ive
All
ocat
ion
Pla
n
Str
ateg
icA
lloc
atio
nP
lan
Act
ive
All
ocat
ion
Pla
n
Con
serv
ativ
eA
lloc
atio
nP
lan
Act
ive
All
oca
tio
n
Pla
n
Agg
ress
ive
All
oca
tio
n
Pla
n
Co
nse
rvat
ive
All
oca
tio
n
Pla
n
Str
ateg
icA
lloc
atio
nP
lan
IV
To
tal
Str
ateg
icA
lloc
atio
nP
lan
III
Jun
e 30
, 20
19
(Au
dit
ed)
Str
ateg
ic
All
oca
tio
n
Pla
n I
V
Str
ateg
ic
All
oca
tio
n
Pla
n I
II
Str
ateg
ic
All
oca
tio
n
Pla
n I
I
Cap
ital
Pre
serv
atio
n P
lan
- I
Cap
ital
P
rese
rvat
ion
Pla
n -
I
Str
ateg
icA
lloc
atio
nP
lan
II
For
the
hal
f y
ear
ende
d D
ecem
ber
31, 2
01
9
Tot
al
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
---
Un-
audi
ted
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
-
All
ied
Ba
nk L
imit
ed
- H
old
ing
Co
mp
an
y o
f th
e M
an
ag
em
en
t C
om
pa
ny
10
,09
3,4
06
2,6
96
,07
6
3,6
13
,98
2
3,8
63
,72
9
9,6
58
,11
0
1,3
22
,13
9
1,2
78
,92
2
18
,76
5,4
24
51
,29
1,7
88
6,4
98
7,8
68
7,8
07
15
,29
2
13
,56
0
16
,39
5
8,6
23
62
,79
6
13
8,8
39
45
,28
6,0
92
un
its
hel
d b
y A
ctiv
e A
llo
cati
on
Pla
n3
17
,04
7,9
28
-
-
-
-
-
-
-
3
17,0
47
,928
5,6
41
,25
3u
nit
s h
eld b
y A
ggre
ssiv
e A
lloca
tio
n P
lan
-
39
,49
4,4
09
-
-
-
-
-
-
39
,49
4,4
09
47
7,1
93
un
its
hel
d b
y C
onse
rvat
ive
All
oca
tio
n P
lan
-
-
3,3
40
,82
7
-
-
-
-
-
3,3
40
,82
77
,98
2,9
37
un
its
hel
d b
y S
trat
egic
All
oca
tio
n P
lan
-
-
-
55
,88
8,5
43
-
-
-
-
55
,88
8,5
43
9,8
73
,94
8u
nit
s h
eld b
y S
trat
egic
All
oca
tio
n P
lan
II
-
-
-
-
69
,12
7,5
20
-
-
-
69
,12
7,5
20
12
,19
5,1
69
un
its
hel
d b
y S
trat
egic
All
oca
tio
n P
lan
III
-
-
-
-
-
85
,37
8,3
82
-
-
85
,37
8,3
82
12
,42
5,5
00
un
its
hel
d b
y S
trat
egic
All
oca
tio
n P
lan
IV
-
-
-
-
-
-
86
,99
0,9
23
-
86
,99
0,9
23
4,2
85
,10
2u
nit
s h
eld b
y C
apit
al P
rese
rvat
ion
Pla
n I
-
-
-
-
-
-
-
30
,00
0,0
00
30
,00
0,0
00
24
,98
9,3
12
un
its
hel
d b
y A
ctiv
e A
llo
cati
on
Pla
n2
54
,65
6,0
83
-
-
-
-
-
-
-
2
54,6
56
,083
4,2
48
,72
9u
nit
s h
eld b
y A
ggre
ssiv
e A
lloca
tio
n P
lan
-
43
,29
7,1
03
-
-
-
-
-
-
43
,29
7,1
03
2,5
83
,30
1u
nit
s h
eld b
y C
onse
rvat
ive
All
oca
tio
n P
lan
-
-
2
6,3
25
,38
4
-
-
-
-
-
26
,32
5,3
84
19
,45
5,3
12
un
its
hel
d b
y S
trat
egic
All
oca
tio
n P
lan
-
-
-
1
98
,26
1,2
94
-
-
-
-
1
98,2
61
,294
16
,13
1,9
00
un
its
hel
d b
y S
trat
egic
All
oca
tio
n P
lan
II
-
-
-
-
1
64
,39
3,7
38
-
-
-
16
4,3
93
,738
26
,42
6,3
26
un
its
hel
d b
y S
trat
egic
All
oca
tio
n P
lan
III
-
-
-
-
-
2
69
,30
0,1
08
-
-
2
69,3
00
,108
26
,84
4,7
42
un
its
hel
d b
y S
trat
egic
All
oca
tio
n P
lan
IV
-
-
-
-
-
-
27
3,5
64
,024
-
2
73,5
64
,024
34
,17
9,3
35
un
its
hel
d b
y C
apit
al P
rese
rvat
ion
Pla
n I
-
-
-
-
-
-
-
3
48,3
07
,930
3
48,3
07
,930
15
7,2
52
un
its
hel
d b
y C
onse
rvat
ive
All
oca
tio
n P
lan
-
-
1
,90
8,1
48
-
-
-
-
-
1
,90
8,1
48
Rem
uner
atio
n p
ayab
le6
1,7
40
6,2
72
2,6
59
23
,53
5
2
6,2
09
2
6,4
39
2
7,3
35
2
8,8
30
2
03,0
19
Sin
dh
Sal
es T
ax p
ayab
le o
n r
emu
ner
atio
n o
f th
e tr
ust
ee8
,02
6
81
6
34
5
3,0
59
3,4
07
3,4
37
3,5
53
3,7
50
26
,39
4
Mo
ve
me
nt
in t
he
un
its
of
res
pe
cti
ve
pla
ns
, b
y r
ela
ted
pa
rtie
s /
co
nn
ec
ted
pe
rso
ns
, d
uri
ng
th
e p
eri
od
:
AC
TIV
E A
LL
OC
AT
ION
PL
AN
As
so
cia
ted
co
mp
an
ies
/ u
nd
ert
akin
gs
KA
PC
O E
mp
loye
es P
ensi
on F
un
d T
rust
63
9,1
92
-
-
63
9,1
92
60
,59
2,2
37
-
-
67
,97
0,8
74
AG
GR
ES
SIV
E A
LL
OC
AT
ION
PL
AN
As
so
cia
ted
co
mp
an
ies
/ u
nd
ert
akin
gs
LU
MS
Em
plo
yees
Con
trib
uto
ry P
rovid
ent
Fu
nd
30
7,0
21
-
24
,31
7
28
2,7
04
29
,65
3,3
49
-
2,5
45
,54
5
29
,93
1,8
12
CO
NS
ER
VA
TIV
E A
LL
OC
AT
ION
PL
AN
As
so
cia
ted
co
mp
an
ies
/ u
nd
ert
akin
gs
Ms
Jeh
an A
ra S
ahib
zad
a3
5,9
07
--
35
,90
73
,99
6,5
34
--
4,0
25
,37
6M
r M
uh
amm
ad S
her
az K
han
31
,66
1-
-3
1,6
61
3,5
23
,99
2-
-3
,54
9,4
23
Iss
ue
d d
uri
ng
the
pe
rio
d
As
at
De
ce
mb
er
31
, 2
01
9
As
at
Ju
ly 0
1,
20
19
Re
de
mp
tio
n
du
rin
g t
he
pe
rio
d
Str
ateg
ic
All
oca
tio
n
Pla
n I
V
To
tal
Aggre
ssiv
e
All
oca
tio
n
Pla
n
Co
nse
rvat
ive
All
oca
tio
n
Pla
n
Str
ateg
ic
All
oca
tio
n
Pla
n--
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Ru
pee
s --
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
As
at
Ju
ly 0
1,
20
19
Iss
ue
d d
uri
ng
the
pe
rio
d
As
at
De
ce
mb
er
31
, 2
01
9
Re
de
mp
tio
n
du
rin
g t
he
pe
rio
d--
----
----
----
----
----
----
----
----
----
----
U
nit
s -
----
----
----
----
----
----
----
----
----
----
-
Act
ive
All
oca
tio
n
Pla
n
Cap
ital
Pre
serv
atio
n P
lan
- I
Jun
e 3
0, 2
01
9 (
Au
dit
ed)
----
----
----
----
----
----
----
----
----
----
----
----
R
up
ee
s -
----
----
----
----
----
----
----
----
----
----
----
---
Str
ateg
ic
All
oca
tio
n
Pla
n I
I
Str
ateg
ic
All
oca
tio
n
Pla
n I
II
13
.3
ST
RA
TE
GIC
AL
LO
CA
TIO
N P
LA
N
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
Tru
stees
Kara
ch
i E
lectr
ic P
rovid
ent
Fu
nd
1,0
00
,00
0
-
-
1,0
00
,00
0
10
2,2
23,1
00
-
-
11
6,9
41
,10
0F
FB
L P
rovid
en
t F
un
d6
09,0
79
-
60
9,0
79
-
62
,26
1,9
33
-
70
,31
9,9
25
-2
31,9
96
-
-
23
1,9
96
23
,71
5,3
67
-
-
27
,12
9,8
87
ST
RA
TE
GIC
AL
LO
CA
TIO
N P
LA
N I
I
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
AB
L A
sset
Man
agem
en
t C
o. L
td. -
M
an
agem
en
t C
om
pan
y2
,43
1
-
-
-
22
0,0
96
-
-
-H
am
dra
d L
ab
ora
ties
(WA
QF
) P
akis
tan
97
5,0
00
-
-
-
88
,27
0,6
48
-
-
-P
SO
CL
Em
plo
yees
Pro
vid
en
t F
un
d T
rust
SC
ML
40
0,0
00
-
-
-
36
,21
3,5
99
-
-
-4
00,0
00
-
-
-
36
,21
3,5
99
-
-
-
ST
RA
TE
GIC
AL
LO
CA
TIO
N P
LA
N I
II
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
Barr
ett
Ho
dgso
n P
akis
tan
(P
vt.
) L
td.
10
0,2
28
-
-
10
0,2
28
9,7
97
,91
1
-
-
11
,17
2,5
07
Sah
il W
elf
are
Ass
ocia
tion
-Main
A/C
45
,10
3
-
-
45
,10
3
4,4
09
,06
0
-
-
5,0
27
,62
8
ST
RA
TE
GIC
AL
LO
CA
TIO
N P
LA
N I
V
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
AB
L A
sset
Man
agem
en
t C
o. L
td. -
Managem
ent
Com
pany
20
0,0
00
-
-
-
20
,35
9,7
60
-
-
-
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
Mr
Gu
l B
ah
ar
Kh
an
53
9,5
10
-
-
5
39,5
10
5
3,9
67
,78
3
-
-
5
9,6
31,1
28
AC
TIV
E A
LL
OC
AT
ION
PL
AN
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
21
7,4
58
-
2
17,4
58
-
2
2,3
03
,69
2
-
21
,64
7,1
65
-A
BL
Em
plo
yees
Su
pera
nn
uati
on
(P
ensi
on
) F
un
ds
2,3
40
,87
1
-
-
2
,34
0,8
71
24
0,0
92,6
88
-
-
22
7,4
30
,833
AG
GR
ES
SIV
E A
LL
OC
AT
ION
PL
AN
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
Ham
dard
Lab
ora
tori
es
(WA
QF
) P
akis
tan
62
1,9
51
-
62
1,9
51
-
65
,19
2,0
28
-
67
,07
4,2
40
-L
UM
S E
mp
loyees
Con
trib
uto
ry P
rovid
en
t F
und
30
7,0
21
-
-
30
7,0
21
32
,18
1,5
16
-
-
30
,37
6,9
98
ST
RA
TE
GIC
AL
LO
CA
TIO
N P
LA
N
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
Tru
stees
Kara
ch
i E
lectr
ic P
rovid
ent
Fu
nd
1,0
00
,00
0
-
-
1,0
00
,00
0
10
4,1
67,9
00
-
-
10
0,3
54
,700
Ham
dra
d L
ab
ora
ties
(WA
QF
) P
akis
tan
2,2
02
,63
5
-
2,2
02
,63
5
-
22
9,4
43,7
94
-
23
5,6
19
,981
-M
TL
Em
plo
yees
Pro
vid
en
t F
un
d T
rust
61
0,6
75
-
-
61
0,6
75
63
,61
2,7
69
-
-
61
,28
4,1
42
FF
BL
Pro
vid
en
t F
un
d6
09,0
79
-
-
60
9,0
79
63
,44
6,4
70
-
-
61
,12
3,9
30
ST
RA
TE
GIC
AL
LO
CA
TIO
N P
LA
N I
I
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
AB
L A
sset
Man
agem
en
t C
o. L
td. -
Managem
ent
Com
pany
2,4
31
-
-
2,4
31
22
8,3
84
-
-
21
9,8
77
Ham
dra
d L
ab
ora
ties
(WA
QF
) P
akis
tan
2,0
00
,00
0
-
-
2,0
00
,00
0
18
7,8
86,6
00
-
-
18
0,8
88
,000
Ep
loyees
Pro
vid
en
t F
un
d T
rust
SC
ML
97
5,0
00
-
-
97
5,0
00
91
,59
4,7
18
-
-
88
,18
2,9
00
ST
RA
TE
GIC
AL
LO
CA
TIO
N P
LA
N I
II
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
En
gli
sh B
iscu
it M
an
ufa
ctu
rers
(P
vt.
) L
td.
1,0
02
,27
9
-
-
1,0
02
,27
9
98
,54
2,5
94
-
-
95
,98
2,9
73
Co
ronet
Fo
od
(P
vt.
) L
td.
1,0
02
,27
9-
-1
,00
2,2
79
98
,54
2,5
94
--
95
,98
2,9
73
Pakis
tan
Mo
bil
e C
om
mun
icati
on L
td. P
rovid
en
t F
un
d7
44,8
31
--
74
4,8
31
73
,23
0,6
62
--
71
,32
8,5
13
ST
RA
TE
GIC
AL
LO
CA
TIO
N P
LA
N I
V
Ass
ocia
ted c
om
panie
s /
undert
akin
gs
AB
L A
sset
Man
agem
en
t C
o. L
td. -
Managem
ent
Com
pany
20
0,0
00
--
20
0,0
00
20
,35
9,7
60
--
19
,96
9,2
20
As
at
Decem
ber
31
, 20
19
----
----
----
----
----
----
----
----
----
----
----
----
Rupees -
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Unit
s -
----
----
----
----
----
----
----
----
----
----
-
As
at
July
01
,
20
18
Issu
ed d
uri
ng t
he
peri
od
Red
em
pti
on
du
ring t
he p
eri
od
As
at
Decem
ber
31
, 20
18
As
at
July
01
,
20
18
Issu
ed d
uri
ng t
he
peri
od
Red
em
pti
on
du
ring t
he p
eri
od
As
at
Decem
ber
31
, 20
18
Issu
ed d
uri
ng
th
e p
eri
od
Redem
pti
on
duri
ng t
he
peri
od
As
at
July
01
, 2
01
9Is
sued d
uri
ng
th
e p
eri
od
Redem
pti
on
duri
ng
the
peri
od
As
at
Decem
ber
31
, 20
19
As
at
July
01
, 2
01
9
----
----
----
----
----
----
----
----
----
----
----
----
Rupees -
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
----
Unit
s -
----
----
----
----
----
----
----
----
----
----
-
Page 38
14
.G
EN
ER
AL
15
.D
AT
E O
F A
UT
HO
RIS
AT
ION
FO
R I
SS
UE
For
AB
L A
sset
Man
agem
ent
Com
pan
y L
imit
ed
(M
anag
emen
t C
omp
any)
____
____
____
____
____
____
___
____
____
____
____
____
____
___
___
____
____
____
____
____
____
Saq
ib M
atee
n
A
lee
Kh
alid
Gh
azn
avi
Per
vaiz
Iq
bal
Bu
tt
Chi
ef F
inan
cial
Off
icer
Chi
ef E
xecu
tive
Off
icer
Dir
ecto
r
04 F
eb 2
020
Page 39
Page 40
Page 41
Page 42
Page 43
Page 44
