FUND PERFORMANCE REPORT Participant Investment Funds for the month ended June 30, 2013 Shariah Compliant

Balanced Fund
Fund Type Risk level Launch Date

Shariah Compliant Income Fund Fund information Fund Type Risk level Launch Date Investment objectives Open ended Low to moderate 01-Dec-08

Shariah Compliant Aggressive Fund Fund Type Risk level Launch Date Open ended Moderate to High 29-Apr-11

Open ended Moderate 01-Dec-08

The primary objective of the fund is to provide balance mix of income returns as well as capital growth over the medium to long term by investing in high quality Shariah Compliant instruments with consistent return and high growth equities and securities.
May 31, 2013 June 30, 2013

The primary objective of the fund is to provide moderate level of income with some potential for capital growth over the medium to long term by investing in high quality Shariah Compliant instruments with consistent returns.

The primary objective of the fund is to provide moderate to high level of returns through capital growth over the medium to long term by investing in high quality listed Shariah compliant equity instruments expected to yield high returns.
May 31, 2013 June 30, 2013

Investment performance
May 31, 2013 June 30, 2013

NAV per Unit

155.519

156.483

NAV per Unit

152.773

153.741

NAV per Unit

129.020

129.680

Annualized return for year 2013 Inception price Annualized return since inception

7.25% Rs.100.00 12.33%

Annualized return for year 2013 Inception price

Annualized return since inception

7.60% Rs.100.00

Annualized return for year 2013 Inception price

Annualized return since inception

25.54% Rs.100.00 13.66%

11.73% Movement in net asset value (NAV)

PKR 160 PKR 155 PKR 150 PKR 145 PKR 140 Jul-12 Nov-12 Jun-13 Aug-12 Sep-12 Oct-12 Dec-12 Jan-13 Feb-13 Apr-13 May-13 Mar-13

PKR 155 PKR 150 PKR 145 PKR 140 PKR 135 Jul-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Apr-13 May-13 Aug-12 Mar-13 Jun-13

PKR 135 PKR 130 PKR 125 PKR 120 PKR 115 PKR 110 PKR 105 Aug-12 Nov-12 Apr-13 Jun-13 Jul-12 Sep-12 Oct-12 Dec-12 Jan-13 Feb-13 Mar-13 May-13

Total Assets under Management - Rs. 393,005,425

Participant Investment Funds are governed by the Investment Committee of the Company which follows best Asset Allocation Policy specifying maximum and minimum limits of investment in particular class of assets. The range of allocation provides flexibility in investment decision based on prevailing market condition and effective cash management. Rs. 310,022,749 Rs. 56,394,057 Rs. 26,588,619

Funds Asset Allocation

Sukuk (Shariah Compliant Investment Certificates, 1.2% Shariah Complaint Shares, 0.2% *Others, 4.5% *Others, 4.6% Shariah Compliant Shares, 29.7% *Others, 8.7% Governme nt Ijarah Sukuk, 7.5%

Governmen t Ijarah Sukuk, 41.7%

Short Term Placements, 22.6% Riba Free Account with Islamic Banks, 29.8%
*Others include, accrued profits, unallocated contributions etc.

Riba Free Account with Islamic Banks, 44.0% Governmen t Ijarah Sukuk, 51.4%

Riba Free Account with Islamic Banks, 54.1%

Fund Performance Analysis

State Bank of Pakistan has cut down benchmark discount rates consistently during the past year, which has affected the profit yields of all the non-equity based investments. Management has put forth its best effort to mitigate the impact by smart and timely asset allocations and applying superior investment management skills without exposing our participants to undue risk. The annualized rate of return for year 2013 of balanced and Income fund has been maintained at 7.25% and 7.60%. The annualized rate of return for year 2013 of Aggressive Fund was 25.54%. The Company follows the policy to invest in premium Shariah compliant shares available in the market.

Head Office: 1701-A, Saima Trade Towers, I.I.Chundrigar Road, Karachi UAN: 111-338-786 Fax: (92-21) 32277188, 32277369