The objective of the HBL- Stock Fund is to provide long term capital growth and income by investing in a diversified pool of equities and equity related instruments. The fund will also invest in short /medium/ long term fixed income securities as well as in derivative, for hedging when it has a bearish view on the market. The salient features of HBL- Stock Fund are:
| Name |
HBL- Stock Fund |
| Fund Type |
Open End Equity Fund |
| Objective |
To provide long term capital growth and income by investing in a diversified pool of equities and equity related instruments. The fund will also invest in short /medium/ long term fixed income securities as well as in derivative, for hedging when it has a bearish view on the market. |
| Seed / Core Investor |
Habib Bank Limited |
| Trustee |
Central Depository Company |
| Auditor |
A. F. Ferguson and Company |
| NAV Calculation |
Daily |
| Management Fee |
2.0% |
| Sales Load |
2.5% |
| Trustee Fee |
Rs. 0.7 million or 0.2% p.a. of NAV up to Rs. 1 billion whichever is higher. Exceeding Rs. 1 billion; Rs. 2 million plus 0.10% of NAV exceeding Rs. 1,000 million |
| Other Costs |
Brokerage fee, Legal Costs, Auditors fee, Company formation cost, Listing fee, Annual fee to SECP, Credit Rating fee etc. |
| Initial Offer Price / Par Value |
Rs. 100 |
| Minimum Investment Size |
Rs. 5000 |
| Subsequent investment |
Rs. 1000 |
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| Types of Units |
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| Class A Units (Restricted) |
Core Units to be issued to HBL (at Par Value) as core investors with a 2 year restriction for redemption |
| Class A Units |
Issued to pre-IPO / IPO investors at par value |
| Class B Units |
Issued to all types of investors after expiry of IPO |
| Tax Benefit |
Capital gains: Exempt till June 30, 2008.
Cash Dividend: Individual & Corporate 10%
Tax Credit up to an investment of PKR 300,000 to individual investors. |
| IPO Dates |
29th, 30th & 31st Aug 2007. |
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