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-June -09 | |
Benchmark | 70% average 3 month PKRV + 30% Average 3-month deposit rate of 3 AA rated schedule Banks as selected by MUFAP | |
Dealing Day/cut off time | Mon – Fri 9:00am / 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 0.4% per annum | |
Management Fee | up to 12% of Gross Earnings subject to a maximum of 1.00% on the average annual net assets. Currently, 0.35% p.a. fee is being charged. | |
Trustee | Central Depository Company of Pakistan Ltd. (CDC) | |
Auditor | RSM Avais Hyder Liaquat Nauman | |
Trustee | Central Depository Company (CDC) Public Limited | |
Registrar | POAMCL (In House) | |
Listing | Pakistan Stock Exchange |
Risk Profile of the Fund
AMC Rating | “AM3+” with Positive Outlook by PACRA as on 15-Feb-21 | |
Fund Stability Rating | AA+(f) by JCR-VIS as on 31-Dec-20 | |
Risk Profile | Low | |
Risk of Principle Erosion | Principle at Low Risk |