Askari Cash Fund (Formerly Askari Sovereign Cash Fund)
Funds Information
Fund Objective | The objective of the Fund is to provide the investors with a high level of liquidity along with extremely low credit and price volatility. The Fund shall provide the facility to invest in an underlying portfolio primarily comprising of government securities (Treasury Bills) and other Authorized Investments which shall enable the investor to manage their liquidity efficiently. | |
| Type of Scheme | Open-end | |
| Nature of Scheme | Money Market Fund | |
| Inception Date | 11-August -09 | |
Benchmark | 90% three (3) months PKRV rates + 10% three (3) months average of the highest rates on savings account of three (3) AA rated scheduled Banks as selected by MUFAP | |
| Dealing Day/cut off time | Mon – Fri / 9:00 am to 10:00 am | |
| Pricing Mechanism | Backward |
| Minimum Investment | PKR 5,000 | |
| Front end load | 0.00% | |
| Back end load | 0.00% | |
| Selling & Marketing Expenses | Up to 0.00% per annum | |
Management Fee | Up to 12% of Gross Earnings subject to a maximum of 1.00% on the average annual net assets. Currently, 0.90% p.a. fee is being charged. | |
| Trustee | Central Depository Company of Pakistan Ltd. | |
| Auditor | S.M. Suhail & Company | |
| Trustee | Central Depository Company (CDC) Public Limited | |
| Registrar | POAMCL (In House) | |
| Listing | Pakistan Stock Exchange |
Risk Profile of the Fund
| AMC Rating | ““AM3++” with Stable Outlook by PACRA as on 13-Sept-24 | |
| Fund Stability Rating | AA+(f) by JCR-VIS as on 2-Jan-25 | |
| Risk Profile | Very Low | |
Risk of Principle Erosion | Principle at Very Low Risk |