NBP STOCK FUND (NSF)

MONTHLY REPORT (MUFAP's Recommended Format) February 2021

Unit Price (28/02/2021): Rs.16.1513
Performance %
FYTD - Rolling 12 FY - FY - FY - FY - FY - Last 3 Last 5 Last 10 Since Launch
Performance Period Feb-2021 January 19,
2021 Months 2020 2019 2018 2017 2016 Years* Years* Years*
2007*

NBP STOCK FUND 0.4% 35.0% 20.7% (0.2)% (18.0)% (9.7)% 33.7% 11.4% 2.4% 9.7% 18.7% 13.4%

BENCHMARK (0.6)% 32.6% 15.5% (0.5)% (18.2)% (10.0)% 17.9% 7.1% 1.5% 6.8% 10.2% 5.6%

* Annualized return. All other returns are cumulative.

The performance reported is net of management fee & all other expenses and based on dividend reinvestment gross of with-holding tax where applicable.

General Information Investment Objective

Launch Date: January 19, 2007 To provide investors with long term capital growth from an actively managed portfolio
Fund Size: Rs. 19,675 million invested primarily in listed companies in Pakistan.
Type: Open-end – Equity Fund Fund Manager Commentary
Dealing Days: Daily – Monday to Friday During the month under review, NBP Stock Fund’s (NSF) unit price (NAV) increased by
Dealing Time: (Mon-Thr) 9:00 A.M to 3:00 P.M 0.4%, whereas the Benchmark decreased by 0.6%, thus an outperformance of 1.0%
(Friday) 9:00 A.M to 4:00 P.M was recorded. Since inception on January 19, 2007 your Fund has posted 13.4% p.a
Settlement: 2-3 business days return, versus 5.6% p.a by the Benchmark. Thus, to-date the outperformance of your
Pricing Mechanism: Forward Pricing Fund stands at 7.8% p.a. This outperformance is net of management fee and all other
Load: Front end: 3% (Nil if amount greater than Rs. 50 expenses.
million), Back end: 0%
Management Fee: 1.5% per annum NSF started off the month with an allocation of around 96% in equities which was
Total Expense Ratio: 4.76% p.a (including 1.10% government levies) decreased to around 95% towards the end of the month. NSF outperformed the
Benchmark in February as the Fund was underweight in select Commercial Banks and
Selling & Marketing Expenses: 2.0% per annum (w.e.f 26-Jan-21) Oil & Gas Marketing Companies sectors stocks which underperformed the market and
Risk Profile / Risk of principal High / Principal at high risk overweight in select Oil & Gas Exploration Companies, Technology & Communication,
erosion: Engineering, and Automobile Assembler sectors stocks which outperformed the
Listing: Pakistan Stock Exchange market. During the month, the allocation was primarily increased in Cement,
Custodian & Trustee: Central Depository Company (CDC) Engineering, and Automobile Parts & Accessories sectors, whereas it was reduced
Auditors: KPMG Taseer Hadi & Co, Chartered Accountants primarily in Commercial Banks, Oil & Gas Exploration Companies, Oil & Gas Marketing
Companies, and Fertilizer sectors.
Benchmark: KSE-30 Total Return Index
Fund Manager: Asim Wahab Khan, CFA
Minimum Subscription: Growth Unit: Rs. 10,000/-
Income Unit: Rs. 100,000/- Top Ten Holdings (as on February 28 , 2021)
Asset Manager Rating: AM1 by PACRA (Very High Quality) Name % of Total Assets
Asset Allocation (% of Total Assets) 28-Feb-21 31-Jan-21 Lucky Cement Limited 6.5%
Equities / Stock 94.6% 96.2% Habib Bank Limited 6.1%
T-Bills 0.0% 1.7%
Mari Petroleum Company Limited 5.3%
Cash 5.2% 1.4%
United Bank Limited 3.9%
Others including Receivables 0.2% 0.7%
Total 100.0% 100.0% Systems Limited 3.6%
Leverage Nil Nil Hub Power Company Limited 3.5%
Kohat Cement Limited 3.3%
Bank AL-Habib Limited 3.0%
Characterstics of Equity Portfolio**
Pakistan State Oil Co Limited 3.0%
PER PBV DY
NSF 6.8 1.3 3.9% Engro Corporation Limited 2.9%
KSE-30 6.4 1.1 5.6%
** Based on NBP Funds estimates Name of the Members of Investment Committee
Top Five Sectors (% of Total Assets) (as on February 28 ,2021) Dr. Amjad Waheed, CFA
Commercial Banks 18.4 % Sajjad Anwar, CFA
Cement 15.7 % Asim Wahab Khan, CFA
Oil & Gas Exploration Companies 12.7 % Hassan Raza, CFA
Fertilizer 6.2 % Dispute Resolution / Complaint Handling
Textile Composite 6.1 % Complaint Service : www.nbpfunds.com/contact-us/investor-relations
Others 35.5 % SECP’s Service Desk Management System: sdms.secp.gov.pk

Sindh Workers' Welfare Fund (SWWF)

The Scheme has maintained provisions against Sindh Worker’s Welfare Fund’s liability to the tune of
Rs. 207,968,788/- if the same were not made the NAV Per unit/Last one year return of the Scheme
would be higher by Rs. 0.1707/01.28%. For details investors are advised to read the Note 11.1 of the
latest Financial Statements of the Scheme.

Notes: 1) The calculation of performance does not include cost of front end load.
2) Taxes apply. Further, tax credit also available as per section 62 of the Income Tax Ordinance, 2001.
Disclaimer: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments
in mutual funds are subject to market risks. Past performance is not necessarily indicative of future results. Please read the offering Document to understand investment policies and the
risks involved. NBP Funds or any of its sales representative cannot guarantee preservation / protection of capital and / or expected returns / profit on investments. Page 13