PAKISTAN INCOME FUND

PAKISTAN INCOME FUND

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Company Overview
The firm, also known as PIF, is a financial company engaged as an open-end fund, investing primarily in income producing debt securities principally in Pakistan. The company was incorporated in the year 2002. The registered head office of the company is located in Pakistan.
PIF seeks relatively high fixed income returns. The firm invests in a range of fixed income securities including Government of Pakistan Bonds, corporate sector bonds (Term Finance Certificates – TFCs), reverse-repo transactions in the money market, CFS (Continuous Funding System), and spread transactions. The weightages of the investment mix of the portfolio are managed in such a manner that reduces the risk of loss in the market value of the investments due to any major upward movement in interest rates in the country. Being an income fund, PIF’s emphasis is on managing interest rate risk, and as a policy, the fund keeps the average duration of its portfolio less than two years.
Business Summary
The policy of the Fund is to invest in a mix of Continuous Funding System (CFS), investment-grade debt securities, government securities, money market instruments and short-term reverse repurchase transactions.
Description and history
The policy of the Fund is to invest in a mix of Continuous Funding System (CFS), investment-gradedebt securities, government securities, money market instruments and short-term reverse repurchasetransactions. The Company was established under a Trust Deed executed between Arif Habib Investment Management Limited (AHIML) as Management Company and Central Depository Company of Pakistan Limited (CDC) as Trustee. The Trust Deed was executed on 23 October 2001 and was approved by the Securities and Exchange Commission of Pakistan (SECP) on 28 February 2002 in accordance with the Asset Management Companies Rules, 1995 (AMC Rules) repealed by Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 (NBFC Rules). The Management Company of the Fund has been licensed to act as an Asset Management Company under the NBFC Rules 2003 through a certificate of registration issued by SECP. The registered office of the management company is situated at 2/1, R.Y. 16, Old Queens Road, Karachi, Pakistan. PIF is an open-ended mutual fund and is listed on the Karachi Stock Exchange. Units are offered for public subscription on a continuous basis. The units are transferable and can be redeemed by surrendering them to the Fund.

Business Line
Financial company engaged as an open-end fund, investing primarily in income producing debt securities principally in Pakistan
Subsidiary

Advisor
A. F. FERGUSON & CO.
IPO date
3/27/2002
US SIC Code
6722
Company Address
R.Y.16
2/1, Old Queens Road
City province or state postal code
74000, KARACHI
Phone: +92 21 111 468 378
Fax: +92 21 2470351
Country address: PAKISTAN
Website url: www.arifhabib.com.pk