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Faysal Asset Management: monthly basis review of funds

In Pakistan, Faysal Asset Management (FAML) is an Investment Manager that delivers structured and customized professional investment solutions to its local and foreign clients. Operating out of Pakistan, Faysal Asset Management is the financial investment arm of the Faysal Group – sponsored by Islamic Investment Company of the Gulf, Ithmaar Bank of Bahrain, Dar Al-Maal Al-Islami Trust in Switzerland and Faysal Bank in Pakistan. The company shows the funds position in their report which are as followed.

Faysal Money Market Fund

The statistics are mentioned in the report of the company that the Faysal Money Market Fund (FMMF) yielded an annualized return of 6.22 percent on monthly basis relative to the benchmark of 6.30 percent. During the month fund took 89.21 percent exposure in T-bills post 100bps hike in recent MPS to generate higher returns. The company’s fund also took exposure of 9.83 percent in DFI placement.

Faysal Savings Growth Fund

The experts of the company also showed that the Faysal Savings Growth Fund yielded an annualized return of 4.74 percent on 365 day basis. As a measure of company’s consolidation strategy, exposure in T-bills stood at 4.60 percent, while TFC exposure grew to 41.91 percent. The fund grew exposure in MTS to 19.60 percent as MTS market became more responsive during the month primarily because of greater volatility in equity market, thus creating room for investment at higher yields though cautious approached declined the overall exposure in MTS market. Commercial Paper exposure sustained at 3.69 percent with Cash allocations at 26.56 percent.

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Faysal Financial Sector Opportunity Fund

Furthermore, the Faysal Financial Sector Opportunity Fund (FFSOF) yielded an annualized return of 4.58 percent on 365 days basis whereas fund yielded an annualized return of 1.51 percent on monthly basis as the fund took a hit because of adverse impact of pricing variation of TFCs during the month of July 2018.

During the month, fund size of the company’s fund was raised to fall the impact of fixed costs. Cash allocations with banks were at 89.82 percent at the end of the month whereas exposure in financial TFC’s reached at 9.51 percent. Given present allocation susceptibility of the portfolio will be considerably declined, making it more suitable for long term financiers with requiring a sustainable income.

Faysal Islamic Savings And Growth Fund

In the report it is also mentioned that the Faysal Islamic Savings and Growth Fund (FISGF) yielded an annualized return of 5.50 percent on monthly basis relative to its benchmark of 2.53 percent, whereas the return over the last one year clocked in at 4.52 percent. During the month, the fund’s exposure towards Islamic Corporate Securities (Sukuk) sustained at 50.70 percent, whereas exposure in cash reached at 47.74 percent.

 

Faysal Income And Growth Fund

The financial adepts also calculated that the Faysal Income and Growth Fund (FIGF) yielded an annualized return of 1.89 percent on monthly basis relative to its benchmark of 8.02 percent whereas the return over the last one year clocked in at 4.83 percent. During the month, cash allocations reached at 61.83 percent and exposure in TFCs was sustained at 36.95 percent.

Faysal Asset Allocation Fund

Furthermore, it is also mentioned in the company’s report that the Faysal Asset Allocation Fund recorded an absolute return of 3.19 percent on monthly basis relative to its benchmark of 1.28 percent, outpacing the benchmark by 191bps.

During the month, company’s fund’s equity exposure was proactively rose to 65.76 percent from 39.25 percent during the mid of the month in anticipation to get benefitted from expected rally post general election.

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Faysal Stock Fund

Faysal Stock Fund also registered an absolute return of 2.97 percent on a monthly basis relative to its benchmark of 1.91 percent, outperforming the benchmark by 105bps. During the month, the fund grew the equity exposure to 77.42 percent from 69.63 percent during last month in order to capitalize the rally post successful completion of general election.

Faysal Islamic Asset Allocation Fund

The financial adepts also calculated that the Faysal Islamic Asset Allocation Fund recorded an absolute return of 2.17 percent on a monthly basis relative to its benchmark of 1.04 percent, outperforming the benchmark by 113bps. Building on expectation of rebound in equity market post general elections, the fund rose its equity exposure from 50.71percent to 61.36 percent.

Faysal MTS Fund

The company shows that the Faysal MTS Fund (FMTSF) yielded an annualized return of 6.32 percent on monthly basis relative to its benchmark of 7.57 percent, whereas the return over the last one year clocked in at 5.66 percent. During the month, the fund sustained exposure above 70 percent, however at month end exposure fall to 65.70 percent because of inflows from investments. In near future, investors’ confidence will primarily derive the yield of the company’s fund.

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