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JS Islamic Income Fund 

Term Sheet

Term Sheet  
Fund Name

JS Islamic Income Fund

Fund Type

Open End Open-End Shariah Compliant Income Scheme | Perpetual

Investment Strategy
JS Islamic Income Fund, in line with its Investment Objective, will invest in Authorized Investments only.

The Scheme’s Net Assets shall be invested in quality Shariah-compliant debt instruments including, but not limited to Sukuks, Ijarah Sukuks, Shariah-compliant Bank Deposits and other Shariah-compliant Debt instruments.

Weighted average time to maturity of the net assets shall not exceed 4 years; however, this condition shall not apply to securities issued by the Federal Government.

Authorized Investments & Asset Allocation
Description Entity OR Instrument Rating Minimum Exposure Maximum Exposure Maximum Maturity
Government Securities n/a 0% 100% n/a
MTS and Spread Transactions n/a 0% 40% n/a
Cash and Near Cash instrument which include bank account (excluding TDRs), treasury bills not exceeding 90 days A and above 25% 100% 90 days
Non-traded securities including reverse repo, bank deposits, certificate of investments (COI), certificate of musharaka (COM) and anything over 6 months which is not a marketable security A and above 0% 15% na
Term Deposit Receipts A and above 0% 75% n/a
TFC, Sukuks and Commercial Paper A and above 0% 50% na
Any other securities or instruments approved under SECP rules, regulations or directives from time to time. A and above 0% 25% n/a
Fund Rating*

AA- (f)

Investment Manager JS Investments Limited
Launch Date 22nd Jan, 2013
Financial Year End June 30
Benchmark The performance benchmark of the scheme shall be "Six (6) months average deposits rate of three (3) A rated scheduled Islamic banks or Islamic windows of conventional banks as selected by MUFAP".
Par Value PKR 100
Minimum Period
Minimum Investment 1 Unit
Front End Load Up to 1%
Back End Load None

Management Fee

Pricing

Management Fee: 1.00% p.a.

Daily via Website

Trustee/Custodian MCB Financial Services Limited
Auditors Grand Thorton Anjum Rahman & Co
Risk Profile Low to Medium
Regulator Securities & Exchange Commission of Pakistan (SECP)
Taxation Exempt on distribution of 90% of profits as dividends
Listing Pakistan Stock Exchange (PSX)
Shariah Advisory

Al-Hilal Shariah Advisors | Mufti Irshad Ahmad Aijaz

Net Assets as on 30th June, 2018 PKR 651.89 mn
NAV as on 11th November, 2019 101.73

Fund Manager Report

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DISCLAIMER: "In case your complaint has not been properly redressed by us, you may lodge your complaint with Securities and Exchange Commission of Pakistan (the "SECP"). However, please note that SECP will entertain only those complaints which were at first directly requested to be redressed by the Company and the company has failed to redress the same. Further, the complaints that are not relevant to SECP's regulatory domain/competence shall not be entertained."