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Fund Name
Lakson Equity Fund
Asset Management Company
Lakson Investments Limited
Management Company Rating
Rated "AM3+" (AM three plus) by PACRA
Fund Type
An Open-End /Equity Fund
Investment Objectives
The investment objective of the Lakson Equity Fund is to provide long term capital appreciation by investing mainly in equity and related listed securities. Investments will be made in companies of substance, financial strength and demonstrably superior management skills with some exposure given to smaller capitalized value stocks.
Investment Policy
In order to achieve the above stated objective the Fund Management Team will adopt a combination of top-down and bottom-up methodologies to ensure that the market trends as well as value-picks are identified so that the portfolio can generate superior risk-adjusted returns. At least seventy per cent (70%) of the Net Assets of LEF will remain invested in equity securities during the year based on quarterly average investment calculated on daily basis. However, the asset allocation pattern may change from time to time keeping in view the market conditions, opportunities, political and economic factors.
OPERATIONAL DETAILS
Minimum Investment
Minimum investment amount is as low as PKR 5,000/- for Growth Units. Further re-investments can be made with as low as PKR 1,000/- only.
Types of Units
Growth Units with the option of receiving either cash dividend or bonus units at the time of dividend distribution.
Listing
LSE (Lahore Stock Exchange)
NAV (Net Asset Value) Calculation
Daily on all subscription days
Benchmark
KSE -100 index
Allotment of Units
On realization.
Management Fee
The Management Company will charge a maximum fee of 3% p.a.
Front-End Load
- No front-end load for pre-IPO and IPO investors
- investments after IPO may be subject to Front-end Load of up to 3%
Back-End Load
None
Authorized Investments:
LEF is authorized to invest in the following instruments:
| Instruments | Entity Rating | Instrument Rating | Max. Exposure |
| Listed Equity Securities | - | 70% | 100% |
| Bank Deposits | A- | 0% | 30% |
| Treasury Bills | AA | 0% | 30% |
| Reverse Repo against Authorized Investments | - | - | 50% |
| Listed equity securities issued, listed and traded outside Pakistan subject to regulatory approvals from the Commission and the State Bank of Pakistan | - | - | 30% |
| Any other investment authorized by the Commission from time to time | - | - | As specified by the Commission. |
SERVICE PROVIDERS
Trustee and Custodian
Central Depository Company of Pakistan Limited (CDC)
Auditors
BDO Ebrahim & Company
BENEFITS TO INVESTORS
Competitive Returns
Through our diligent investment process, philosophy and reliance on fundamental based research, Lakson Funds shall strive to provide its unit-holders with competitive returns in compliance with the investment Objective.
Research
Our dedicated in-house research team plays critical role in making disciplined investment decision based on their
fundamental analysis taking into account changes in company fundamentals. Market trends, macro-economic changes, and shifts in fiscal and monetary policy.
Liquidity
Investors are able to invest and redeem to match their particular liquidity needs as and when they arise.
Easy Exit / Redemption
Lakson Investments strives to provide the facility of easy exit/redemption of units, however the constitutive document allows for upto six working days.
Diversification
All Lakson Funds strive to provide investors’ exposure to a truly diversified portfolio of instruments, thereby reducing the investors overall risk.
Tax Advantage
Under the applicable tax laws, investors in Mutual funds are exempt from Capital Gains Tax , if investment is held for a period of one year, while investments in bank deposits and other fixed income instruments (TFC’s, Treasury Bills, Sukuks, Commercial Paper, et. Al) are subject to taxation.
Tax Credit
An investment in any Lakson Fund will also allow an individual to lower what they pay in taxes. The applicable tax laws provide for tax credit incentive to salaried investors and self-employed investors.
The salaried investor can claim the tax credit (up to PKR 100,000 per year) and the self-employed investor can also avail themselves of the tax credit (up to PKR 125,000 per year).
Investors are advised to consult their tax advisor prior to making an investment decision.
Zakat
Exemption from Zakat on submission of required affidavit. (CZ-50)
Risk Disclaimer:
- This information has been prepared by Lakson Investments for your general information and private use only. It does not constitute investment advice and is not intended to be an offer to buy or sell or a solicitation of an offer to buy or sell any securities mentioned. It should not be considered as an incentive to invest. The securities described in this document may not be eligible for sale or subscription in all jurisdictions or to certain categories of investors. This document is not intended for distribution to a person or within a jurisdiction where such distribution would be restricted or illegal. This document may not be conveyed to or used by a third party without our express consent. Any other use is not authorized.
- The information contained herein has been obtained from sources believed to be reliable and no member of Lakson Investments makes any warranty, expressed or implied, as to the accuracy or completeness of the information. All the information included in this presentation is current when this document is prepared and subject to changes at any time. Any forecast or projection or forward looking statement made in this document is not necessarily indicative of future or likely performance, future events or future financial performance of securities, countries, markets or companies. Such statements are only predictions and actual events or results may differ.
- Lakson Investments may from time to time provide services to the companies and their affiliates mentioned herein. Employees of Lakson Investments or persons/entities connected to them may from time to time have position in or are holding any of the securities mentioned in this document.
- No consideration have been given to and no investigation was made of your investment objectives, financial situation or particulars, and accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of you acting on such information or opinion or estimate. Lakson Investments expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on this the information in this document.
- You should consult your own legal, financial and other professional advisors, to ensure that any decision you make is suitable for you in the light of your circumstances and financial position.
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