Al Meezan Investment Management Limited: December, 2016

Al Meezan Investment Management
Limited
December, 2016
In the Name of Allah, the Most

Beneficent, the Most Merciful
2
Al Meezan Investments
Disclaimer
The Information presented in this presentation has been obtained or derived from
sources believed by Al Meezan to be reliable. However, any projections contained
herein are estimates only and may not be realized in the future. Past performance
should not be taken as an indication or guarantee of future performance, and no
representation or warranty, express or implied, is made regarding future
performance.
Contents
I.
About Al Meezan Investment Management Limited
II.
Voluntary Pension Schemes
II.
Meezan Tahaffuz Pension Fund
III.
MTPF vs. Provident and Gratuity Funds
Our Vision
I. About Al Meezan Investment Management Limited
Our Mission
Our Vision & Mission

Our Vision
Our Vision
"To make Shariah

Our investing a first
Compliant
Our
choice
Visionfor investors."
Vision
Our Mission
OurMission
Mission
Our
Our Mission
"To establish Al Meezan as a
leading and trusted brand for
savings and investments by
offering innovative Shariah
compliant investment solutions
through ethical conduct, value
added services and optimal
returns, while protecting the
interest of all stakeholders.
Our Shariah Advisor

We aim at providing Halal and Riba-Free investment opportunities to our investors.
For all our operations and investments, we draw Shariah Advisory from the Shariah
Supervisory Board of Meezan Bank Limited, comprising the following eminent and
learned Islamic scholars:
4
Justice (Retd.) Mufti Muhammad Taqi Usmani (Chairman)
Dr. 2
Imran Ashraf Usmani (Resident Board Member and
Shariah Advisor)
11
Sheikh Essam M. Ishaq (Board Member)
Our Group
Meezan Bank Limited

(MBL)- Pakistans
Premier & Largest
Islamic Commercial
Bank
5%
30%
Pak Kuwait Investment

Company (PKIC)Leading financial house ,
a joint venture between
Government of Pakistan
and Kuwait
65%
MBL
Al Meezan's Employees
PKIC
About Al Meezan Investments

The only full-fledged Shariah Compliant Asset Management Company of Pakistan.
Largest private sector AMC with longest track record of over 20 years of experience
in Asset Management and Investment Advisory
Manages the largest Open end Equity fund & Voluntary Pension Fund (VPS) in the
private sector
Highest rating of AM2++ awarded by JCR-VIS, the highest ever awarded to
AMCs in the Industry.
Consistently high performing funds providing competitive returns
Longest track record of managing discretionary funds under management along with
advisory services in the industry
Managing the discretionary portfolios of reputable clients such as Engro, Ufone and Eli Lilly.
Why Al Meezan
The Only Full
Fledged Shariah
compliant AMC with
one of the largest
investor base of over
49,000 investors
The Largest
Private Sector
Asset Management
Company with
AUMs of
PKR 96.99 Billion
An Impressive
track record of
21 years with
AM2++
Management
Quality Rating
(as on Nov 30, 16)
Managing the
Largest Private
sector Open End
Equity FundMeezan Islamic Fund
with AUMs of PKR
36.6 Billion
39.9
(as on Nov
Oct 31,
30, 16)
Managing the
Largest Private
sector VPS- Meezan
Tahaffuz Pension
Fund with AUMs of
PKR 7.5 Billion
(as on Nov 30, 16)
10
Assets Under Management
11
Product Portfolio
Equity
Funds
Balanced
Fund
Al Meezan Mutual
Fund
Meezan Islamic
Fund
KSE Meezan
Index Fund
Meezan Energy
Fund
Meezan
Balanced Fund
Meezan
Islamic
Income Fund
Meezan
Sovereign
Fund
Money
Market
Fund
Asset
Allocation
Fund
Meezan Cash
Fund
Meezan Asset
Allocation Fund
Voluntary Pension
Scheme
Fund of Funds
Meezan Tahaffuz Pension

Fund
Income
Funds
11
Savings Plans
Meezan Financial
Meezan Savings Plan
Planning Fund
Meezan Indus
Meezan Strategic
Hospital Support Plan
Allocation Fund
Meezan Capital
Lorem ipsum
Preservation Fund-II dolor sit
Meezan Capital
Preservation Plan-I &II
Meezan Asset Allocation
Plan-I , II , III & IV
Commodity
Fund
Meezan Gold Fund
12
Our Clients
Financial Institutions
Oil and Energy
Auto & Engineering
Telecom
13
Board of Directors
Mr. Ariful Islam
Chairman Al Meezan &
Deputy CEO Meezan
Bank Ltd.
Mr. Mohammad Shoaib

CFA - Chief Executive Al
Meezan
Mr. P. Ahmed
Executive Director, Indus
Hospital Karachi
(Independent Director)
Mr. Atif AzimCEO- VentureDive Pvt.

Ltd
Mr. Moin M. Fudda

Country Representative
SCOR- A Global 1 Tier
Reinsurer
Syed Amir Ali

Group Head Corporate &
Investment BankingMeezan Bank Ltd.
Mr. Tasnimul Haq

Farooqui
Head of Legal &
Company SecretaryMeezan Bank Ltd.
Mr. Abdullah Ahmed

Muhammad
Group Head of Treasury
& Financial InstitutionsMeezan Bank Ltd
Mr. Mazhar Sharif

SEVP Internal Audit- Pak
Kuwait Investment
Company
Syed Amir Ali Zaidi

SVP Capital Markets- Pak
Kuwait Investment
Company
14
Management Team
Muhammad Asad
Senior Executive Vice
President, Chief
Investment Officer
Syed Owais Wasti

Executive Vice President,
CFO & Company
Secretary
Syed Hussain Naqvi

Executive Vice
President , Chief Strategy
and Operation Officer
Talha Anwar
Executive Vice President,
Head of Sales &
Marketing
Muhammad Faisal
Hafeez
Senior Vice President,
Head of Business
Development &
Operations
Syed Khurram Ali

Naqvi
Head of IT
Abdul Rub Khan

Head of Human
Resources
Anas Rehan
Head of Customer
Services, Service Quality
& Training
Mohammad Shoaib,
CFA
Chief Executive
Muhammad Rashid
Zafer
Head of Internal Audit &
Compliance
Imad Ansari
Assistant Vice President,
Head of Risk
Management
15
Members of Research, Product Development and Fund

Management Team
Name
Mohammad Shoaib, CFA
Muhammad Asad
Designation
CEO
Experience
(Years)
Academic Background
25
CFA | MBA
MBA | CFA Level 3
Candidate | Fellow of
Life Management, USA
SEVP & CIO
20
VP & Fund Manager
CFA| MBA
VP-Product Development & Head of

SMA
CFA | MBA | FRM
Zain Malik
VP & Fund Manager
BBA | CFA Level 3 Passed
Asmar Hamoodi Shams, CFA
AVP & Fund Manager
CFA, ACCA, BBA
Sr. Manager & Fund Manager
CFA | MBA
BBA | CFA Level 3

Candidate
Ahmed Hassan, CFA

Ali Hassan Khan, CFA, FRM
Asif Imtiaz, CFA

Ali Asghar Khurshid
Samreen Khan
Acting Head of Research

Manager Investments
BBA | CFA Level 3

Candidate
16
Timeline of Awards
4
3
2
2
11
17
Our Vision
II. Voluntary Pension Schemes
Our Mission
18
What are Voluntary Pension Schemes (VPS)?

A very flexible savings cum investment plan
Facilitates individuals to save systematically for their retirement
Savings topped with investment returns
Desired investment exposure to high

3 yielding assets
Special tax benefits
2
After reaching retirement
age, get monthly income from your accumulated investments
or withdraw a lump sum amount
2
11
19
VPS Industry in Pakistan
Number of Pension Fund Managers
Number of Fund Managers offering Shariah Compliant VPS4
Number of VPS
Total Fund Size of VPS (Rs. Mn as on
17
Nov 30, 2016)
Total Fund Size of Shariah Compliant VPS (Rs. Mn as on Nov 30, 2016)
Rs. 20,796
Rs. 13,041
11
20
Al Meezans Market Share

Total Voluntary Pension Schemes (November 30, 2016)
4
3
2
2
11
21
Al Meezans Market Share

Islamic Voluntary Pension Schemes (November 30, 2016)
4
3
2
2
11
22
Our Vision
III. Meezan Tahaffuz Pension Fund
Our Mission
23

Benefits
Fund Type: Open End Islamic Pension Fund

Fund Size as of October 31, 2016 : PKR 7,528 Mn.
Launch Date: June 2007

MTPF is Pakistans largest Voluntary Pension
Scheme in the private sector
Al Meezan
A long term saving mechanism with flexibility of

varying exposure to different asset classes
2
2
11
As per Section 63 of the Income Tax

ordinance 2001, Tax saving available on
contributions up to 20% of the taxable
income
For an investor aged 41 or above, the

contribution limit will progressively
increase by 2% every year, up to 30% of
Investments
taxable income
Tax exempted returns on investment
Portability
Additional feature: Free of cost Takaful

protection for Natural Death, Accidental
Death, Permanent Total Disability and
Accidental Medical Expenses upto Rs. 5
Million
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24
Key Features of MTPF
The Largest VPS in the market with the size of more than Rs. 7,528 bn
Shariah compliant as per the guidelines of Shariah Supervisory Board
Flexibility of choosing asset allocation scheme of choice, which can be changed twice a
year.
4
Periodic rebalancing by Al Meezan Investments will ensure that your asset allocation
remains within your desired limit
Participants of MTPF on attaining
3 the age of retirement shall have the following
3
options:
Withdraw up to 50% of amount(tax free) in their pension account;
The remaining amount shall be used to either purchase an annuity from a life
2
insurance/takaful company or invest the amount in any approved Income Payment Plan
to receive a monthly amount till the age of 75 years or 15 years after retirement.
Can choose
2 retirement age between 60-70 or 25 years since the age of first contribution
which ever 1
is lower.
1
As per Rule 15 (4)Investors can change the Pension Fund Manager without any cost
once in a financial year by giving a notice of at least 21 days before the transaction.
25
E E T Structure
MTPF is based on E E T Structure
E: Exempt : Tax Rebate on annual contributions
E: Exempt : Tax Exemption on Profits earned in

MTPF. All earnings of the Scheme are Tax Free
2
2
11
T: Taxable : Upon retirement, you can withdraw

50% of accumulated amount tax free .
26

Al Meezan
Investments
Meezan Tahaffuz
Pension Fund
Sales Load
upto 3%
Equity Sub Fund
Allocation Policy
Contribution
3
2
2
11
Tax free
redemption
50
%
3
Debt Sub Fund
M.M Sub Fund
At
Retirement
(60-70 or 25 years)
Before
Retirement
Disability
Before
Retirement
Death Before
Retirement
Survivors as per
nomination deed
50
%
Income Payment
Plan till age 75
OR
Annuity from
Life Takaful Co
All withdrawals taxed
At last 3 yrs tax rate
Deemed retirement
Cash withdrawal 50%
tax free (deemed retirement)
Transfer amount to
survivors VPS account
Purchase deferred
annuity starting at 55
27
After
75 or
15
years
Diversified Investment in Sub-Funds
Equity Sub Fund
ReturnsHighest
Inflation RiskLowest
VolatilityHighest
Debt Sub Fund
ReturnsModerate
Inflation
3
Risk3
High
VolatilityModerate
Money Market
Sub Fund
Returns- Lowest
Inflation RiskHighest
VolatilityLowest
Gold Sub Fund
Returns- High
Inflation RiskLow
Volatility- High
11
28
Allocation Schemes- (Without Gold)

Al Meezan Investments offers following allocation schemes:
Equity Sub Fund
Debt Sub Fund
High Volatility
80%
20%
Medium Volatility
50%
40%
Low Volatility
25%
60%
15%
Nil
50%
50%
Lower Volatility
Money Market Sub

Fund
Nil
10%
Life Cycle plan
Automatically adjusts your allocation from High Risk assets towards Lower Risk based on your age profile
Customized Allocation
11
0-100%
0 100%
0-100%
Participant can change Allocation Scheme twice in a year

29
Allocation Schemes- (With Gold)

Al Meezan Investments offers following allocation schemes:
Equity Sub Fund
Debt Sub Fund
Money Market
Sub Fund
Gold Sub Fund
High Volatility
Min 40%
Min 20%
Nil
Max 25%
Medium Volatility
Min 20%
Min 40%
Min 10%
Max 15%
Low Volatility
Min 05%
Min 60%
Min 15%
Max 05%
Life Cycle plan
Automatically adjusts your allocation from High Risk assets towards Lower Risk based on your age profile
Customized
Allocation
0-100%
11
0 100%
0-100%
0-100%
Participant can change Allocation Scheme twice in a year

30
Meezan Life Cycle Plan
The allocation in this scheme is on the basis of the age of the Participant as per the
following allocation table:
Equity Sub Fund
Money Market
Sub Fund
18-30 Years
80.00%
20.00%
31-40 Years
65.00%
25.00%
10.00%
50.00%
30.00%
20.00%
40.00%
30.00%
30.00%
10.00%
40.00%
50.00%
41-50 Years
51-60 Years
2
61 Years and above
Debt Sub Fund
Nil
11the participant the higher the allocation towards equity market due to his
The younger
high risk taking ability with reference to long term horizon.
31

Returns on Allocation Schemes since Inception till Nov 30, 2016
Annual Return
FY17
3
High Volatility
Medium Volatility
Low Volatility
11
Lower Volatility
MTPF- Gold*
Cumulative Since Annualized Return

Inception
Since Inception Cumulative Cumulative
3 Year
5 Year
10%
381%
17%
87%
249%
7%
279%
15%
61%
171%
5%
195%
12%
40%
106%
3%
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sit
109%
8%
19%
40%
-10%
-10%
* Performance start date of August 04, 2016

32
Tax benefits
As per Section 63 of the Income Tax ordinance 2001, Tax saving available on
contributions up to 20% of the taxable income
For an investor aged 41 or above, the contribution limit will progressively increase by
2% every year, up to 30% of preceding year taxable income
Contribution to MTPF effectively increases return on investment by the % of tax rate.
Latest amendments in tax laws have

clarified provision of direct adjustment of these
3
3
credits at the time of disbursement of salary
Under clause 23 (c) of Part I of Second Schedule of Income Tax Ordinance, any
2
withdrawal of accumulated
balance from an approved pension fund that represents the
transfer of such balance from an approved provident fund is exempted from tax 1st
July 2012
Under clause123
(c) of Part I of Second Schedule of Income Tax Ordinance , effective
1
1st July 2012, monthly income installments in an income payment plan are tax-free if
the Income Payment Plan spread is over 10 years.
33
Tax Benefit Illustration
Sr.
No.
Annual
Taxable
Income
(ATI)
700,000
15,000
1,550,000
102,500
2,450,000
4
5
Annual Tax Effective Tax Basic Salary

Liability
Rate
(60% of ATI)
Actual PF Investment
Increase in Take Home

Income by Tax Credit
Pension Fund (20% of

ATI)*
through
Pension Fund
(as per sec 63)
420,000
84,000
1,800
6.61%
930,000
186,000
12,300
253,750
1,470,000
294,000
30,450
6,500,000
10.36%
1,287,500
19.81%
3,900,000
780,000
154,500
15,000,000
3,825,000
25.50%
9,000,000
1,800,000
459,000
32.14% 3
11
34
Takaful Protection
Takaful protection up to Rs. 5mn from Pak Qatar Takaful being offered to all participants
with participation contribution of PKR 100,000
4 Total Disability (PTD) and

Coverage for Natural Death, Accidental Death, Permanent
Accidental Medical Expenses
3
50% of the average of last 2 months total invested balance of each individual subject to max of Rs.
5,000,000/100% of the average of last 2 months total invested balance of each individual subject to max of
Accidental Death
Rs. 5,000,000/-
Natural Death
Permanent Total 50% of the average of last 2 months total invested balance of each individual subject to max of Rs.
Disability
5,000,000/Medical coverage 10% of the average of last 2 months total invested balance of each individual subject to max of
(Accident)
Rs. 1,000,000/-
11
No hidden charges, all costs for Takaful protection borne by Al Meezan
Manager)
35
(Pension Fund
Meezan Income Payment Plan

Choice of Allocation Scheme: The participant will have the option to place the amount in
one of the following allocation schemes of MTPF for systematic redemption of units in
order to get a periodic payment.
4
3
Monthly income 2
installments in an income payment plan are tax-free if the Income
Payment Plan spread is over 10 years.
11
36
Our Vision
III. MTPF vs PF
Our Mission
37
MTPF vs Provident Funds

MTPF
Provident Funds
1 Employee can avail a tax credit up to 20% of taxable Tax credit is not available on employees
income. The tax credit is directly adjusted in
monthly salary thereby increasing monthly cash
flows.
2 In MTPF, there is free world wide accidental death
and disability insurance coverage.
3
3
Each employee has an independent pension account
which has an asset allocation as per his/her risk
profile and investment horizon.
4 MTPF is portable and an employee can continue his

Individual pension account while switching from
one job to another.
11
Option to receive NAVs of Investment portfolios
contribution to PF. Furthermore, employer

contribution over Rs.100,000 is taxable every year.
There is no insurance in PF; the employee just

depends on the group insurance scheme of the
company.
There is no separate asset allocation for an employee
in PF.
The PF account of an employee finishes off at the
time of switching his/her job and he/she has to make
a fresh start in terms of savings.
No authentic data is available in PF
through day end SMS alerts. 24/7 access to online

balance statement.
38
MTPF vs Provident Funds (cont)

MTPF
Provident Funds
6 An employee can choose between the pension

fund managers if he/she is not satisfied with
the performance of the fund manager. There is
no additional cost associated with such a
transfer.
If the employee feels that the firms provident

fund is not growing in line with his/her
expectations, he/she has no choice but to hope
for the best.
7 MTPF is managed by professional fund

managers on the basis of strong research
No research based investment
8 An income payment is also available to provide Offers no disciplined plan to receive income
regular income to participants after retirement. after retirement.
11
39
Our Vision
IV. Value Added Services
Our Mission
40
Value Added Services

Al Meezan offers a host of value added services for your convenience and enhanced
services.
Al Meezan Connect- Mobile Application
Online Transactions-Internet Banking Services
Online Transactions- Member Services Area
ATM Facility
Meezan Easy Cash
Email Services
SMS Alerts
11
E-Statements
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41
For Further Details Please Contact:
Toll-free Helpline 0800-HALAL (42525)
SMS INVEST to 6655
Karachi FTC Branch:
(92-21) 111-633-926
Sales Hub Karachi:
(92-21) 34536602-05
North Nazimabad Branch, Karachi:
(92-21) 36641491-4
Bahadurabad Branch, Karachi:
(92-21) 34923112-6
DHA Branch, Karachi:
(92-21) 35802411-4
Gulshan Iqbal Branch, Karachi

Gulberg Branch, Lahore:
Al Meezan
Investments
(92-21) 34990491-4
(92-42) 35783608-12
DHA Branch, Lahore:
(92-42) 35747060-3
Faisalabad Branch:
(92-41) 2412371-4
Islamabad Branch:
11
Multan Branch:
Peshawar Branch:
(92-51) 2801471-73
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(92-91) 5271911-14
dolor sit
(92- 61) 6305911-5
Abbottabad Branch:
(92-992) 408182
Rawalpindi Branch:
(92-51) 5766364-6
42
Thank You

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Al Meezan Investment Management

In the Name of Allah, the Most

About Al Meezan Investment Management Limited

Voluntary Pension Schemes

Meezan Tahaffuz Pension Fund

MTPF vs. Provident and Gratuity Funds

Our Vision & Mission

"To make Shariah

Our Shariah Advisor

Meezan Bank Limited

Pak Kuwait Investment

About Al Meezan Investments

(as on Nov 30, 16)

Assets Under Management

Meezan Tahaffuz Pension

Oil and Energy

Auto & Engineering

Mr. Mohammad Shoaib

Mr. Atif AzimCEO- VentureDive Pvt.

Mr. Moin M. Fudda

Syed Amir Ali

Mr. Tasnimul Haq

Mr. Abdullah Ahmed

Mr. Mazhar Sharif

Syed Amir Ali Zaidi

Syed Owais Wasti

Syed Hussain Naqvi

Syed Khurram Ali

Abdul Rub Khan

Members of Research, Product Development and Fund

SEVP & CIO

VP & Fund Manager

VP-Product Development & Head of

CFA | MBA | FRM

VP & Fund Manager

BBA | CFA Level 3 Passed

Asmar Hamoodi Shams, CFA

AVP & Fund Manager

CFA, ACCA, BBA

Sr. Manager & Fund Manager

BBA | CFA Level 3

Ahmed Hassan, CFA

Asif Imtiaz, CFA

Acting Head of Research

BBA | CFA Level 3

What are Voluntary Pension Schemes (VPS)?

Desired investment exposure to high

Special tax benefits

VPS Industry in Pakistan

Number of Pension Fund Managers

Number of Fund Managers offering Shariah Compliant VPS4

Total Fund Size of VPS (Rs. Mn as on

Al Meezans Market Share

Al Meezans Market Share

Meezan Tahaffuz Pension Fund

Fund Type: Open End Islamic Pension Fund

Launch Date: June 2007

A long term saving mechanism with flexibility of