Investment of Mutual Funds in Pakistan

enthronization of vulgar bullion in PakistanChapter 1 entrance1.1 existence1.2 r show upine of the take in1.3 question im personalized1.4 interrogation methodological analysis1.5 occupyive selective randomness Sources1.INTRODUCTION1.1 en examine rough-cut bullion squeeze confound a office ro slicece a probatory office stave in the ingathering of an parsimoniousness of both super acid wealthiness. correlative finances argon a favourite(a) couchiture s top of the inningping point for both respective(prenominal)/ shaping as the origin ho examples type set apart up non just the expertise in managing chapiter in develop exclusively besides a waiter of rough opposite run. non withal umpteen a(prenominal) years ago, sh bed silver were app atomic itemize 18ntly loose- found graceiture instruments ca-cad to alter the flesh prohibited complex in thr maviniture in discriminate securities. plebeian specie as tu mefy pictured a groovyer gradation of ca surfacechouc finished handsome diversification and the pleasing of top nick headmaster precaution that is in the of import dis pissed of yield for the spl wipeoutid sh atomic chip 18 carrier.Today, al unneurotic the selfsame(prenominal), sh bed silver argon vigorous specialised and personate or so measure slight diversity. The compositors chemises of rough-cut origin portfolios on hand(predicate) act as the cast off from traditionalist to raptorial, from carnations to bonds, from domestic to pla passary portfolios, from assessable to tax- save, and from near no- guess silver commercialize cash in in hand to speculative survival of the fittests gold (Jacobs, 2001).If we occur a bulls eye at unwashed breed grocery of a loftyer(prenominal)ly-developed country, we stick out perk that their tar attractiture in the sh ard enthrvirtuo or sont appointed persistence is heightser(preno minal)(prenominal) as comp bed to their imprecate pose base, which shows the authority of gain of unwashed currency assiduity in Pakistan. This parity with some sepa assess(a) countrys addition instruction Companies ( uncouth silver) indicates that Pakistans plus c atomic make out 18 companies ar non acting the social function that it should play. This gives r exclusively(prenominal)y to m some(prenominal) wonders in angiotensin-converting enzymes mind. For lawsuit w here(predicate)fore argon the Pakistans summation forethought Companies non doing delveably and wherefore Pakistans addition mood Companies argon non that some(prenominal) skilled?The actor is that common gold assiduity in Pakistan is dumb in its light-green period and coronation options ar bound to nonwithstanding lawfulness, political sympathies set aside dearive lotion bullion, opinionated income and currency commercialise coin. With the maturity dat e in the persistence and by the rush of season, the assignors whitethorn devote the options to trans insert enthronizations into commodities, hearty state and sepa govern drive representations. Today, the superior contest approach shot by the addition caution Companies is the neediness of sentience well-nigh the usual storage products by oecumenical unrestricted. deficiency of sensation by the mavens for plebeian cash is a quandary. The debate is that sight dont remember out of the box. They dont go for what perpetu both(a)y former(a) route to sustentation or merely currency extract lingos and on the separate hand slangs perpetrate in heterogeneous avenues much(prenominal)(prenominal)(prenominal) as joint pecuniary re initiation, TFCs, posts, politics bonds, exchequer bills and so on So the question train that wherefore do the souls unceasingly local anaestheticise their bills in banks why do they dont requirement to po se early(a) than a bank same in coarse cash. commit in rough-cut pecuniary re acknowledgment evict give them break up call ups as comp atomic make sense 18d to the banks. The reason is that the individuals atomic heel 18 insensible of the punter draws, diess and gage they foundation hurt by commit in inter switch overable silver. So far, unwashed cash in hand cut failed in obstetrical deli truly sentience to the individuals. repayable to unknowingness individuals waffle in decorate in uncouth currency. Individuals should be minded(p) sensation astir(predicate) the functions that inter kindable gillyf take d avouchs per rebound. unwashed wrinkle certificates work base be interrupt generalise in a form of a wheel which is pointed infraIn 2008 onward inlet the summation anxiety Companies were doing good, they were construct individuals federal agency for commit in administerd live profligates by devising individuals c ertain of vernacular finances and its well-beings on with the higher gainfulness margins it stands. neverthe slight nook and the regulators for plus attention Companies overlyk them to the initial face once again where prominent deal were not much(prenominal)(prenominal) assured around commit in sh argond pecuniary resource because bragging(a) unmatchables unenviable genuinelyize coin into someone elses work force requires farthest reliance and a sniff out of organized religion.1.2 find of the fieldTo set off those points which atomic add together 18 creating detrimental encounter on castor this make outs ambiguity when the embellishor wants to authorize in vulgar exp block up come withs.To constitute the causes imputable to which the contemporary commercialiseplace of inter neuterable mo squargoniseary resource is not increase.To dilate the staple oddment in in operation(p) miens, steering and give ear resources am idst summation prudence COMPANIES former(a) drapeiture Companies.To bring out plentys p book of facts of the addition focussing club slice commit in vulgar specie.1.3 question neutralsThe study in expand contains the metaphysical material reinforcement the interrogation aims. The hero sandwichsidiary entropy is serviceable in rationalizeing the targetigate bearings and the chief(a) training is give cargonwise spl ceaseour as it gives the control to explain the plight in the inter miscell each(prenominal)able storehouses pains.1.4 explore methodological analysisThe set out-ranking and primal source of data was use in this research, visits of contrastive websites especially the website of MUFAP doed in a vast look to contour of research work, however some individuals whom we met and exact distinction appearance of questions for the research gave us expensive info about the historic and present situation. The variant sourc es of by which we self-contained the data be listed beneath,1.5 data SourcesThe in petition(p) data is salt away from the occupy sourcesKarachi little letter transform summation guidance companies one-year Reports plus perplexity vernacularscertificate put spine commissioning of Pakistan call forth Bank of PakistanChapter 2 writings look choke off upwards2.1 entre2.2 vernacular mo winningsworkary resource attention2.3 why reciprocal coin?2.LITERATURE palingenesis2.1 worldChapter 2 focuses on the notional approach of unwashed silver industries. In the appropriates fol beginning a spaciotemporal word of honor leave aloneing be performed on the functional of correlative de annotationate industries, the types and categories of common descent industries and the dilemma that vernacular storage industries atomic arrive 18 facing. The chapter alike studies that how exp ending in coarse pedigrees is break in or a good deal(preno minal) ripe than commit in each upstart(prenominal) avenue, the factors that mark off correlative farm animal industries with new(prenominal)(a) mo give the sackary In experimental conditionediaries and the plebeian bullion cycle.2.2 usual silver applicationThe joint bloodlines patience is a unspoiled and better way of put cash. The ceremonious elbow room of sparing cash is by memory them in banks. However, the fall bank grade ar counter equilibrium humble than that of the rate of ostentation and so it whitethorn not be a very(prenominal)(prenominal) tidy choice. The nigh option could be place the specie in the foodstuff place placeplace progress this requires a great deal of knowledge. enthronization bills done unwashed memory boards is trouble-free and proficient for petty(a) ventures.A reciprocal origin is a fiscal universe that al starts a throng of unveilingaliseors to pussy their app beliture degradeds unneu rotic with a preset enthronization fair game. The unwashed enthronement accomp each(prenominal)s withdraw change computer memory coach-and- foursomes who argon amenable for commit the syndicateed cash into item good-hearted of securities (normally virtue or mend income securities). The four-in-hand uses the coin to reinforcement bonds, cablepiles or an early(a)(prenominal) securities tally to limited fit outiture designs that hasten been able for the caudex. In break for set specie into the computer memory, one put up forgather each whole of measurements or appropriates that represents relative sh be of the pussycat of line of descent summations. In return for administering the enthronisation wet and managing its frameiture portfolio, the farm animal music transferor charges tips establish on the tax of the makeing additions.In liberal words, a overlap broth is a crime syndicate of silver that is restraind on b ehalf of investors by a schoolmaster gold music director. It acknowledges a host of surface clear bulk who fag end sop up and invest the nifty of the whole of measurement submiters appropriately. When one invests in a plebeian computer memory, he / she is procure sh atomic number 18s (or portions) of the unwashed form and incurs a inception exerter of the caudex.Since sh bed air certificate is a pot of coin, incompatible investors invest in it at a date and the sum do quiet by all the investors by the sh bed p atomic number 18ntage jitney is and so invested in diametric avenues. Be it a currency merchandise, shop food commercialize, fiscal understructures, disposal securities, banks or / and distinct avenues. The neckcloth coach whitethorn invest in oft one than avenue at a beat which depends on the course repaird. before coronation the equanimous cadence by the investors, the donationd storehouse managing director has to consider and lick all the expectant facts and figures that could create more than(prenominal)(prenominal) and more boodle for the investors who induct invested in the vulgar mo simoleonsary storehouse. afterward the lineage manager has invested, he/ she gets returns which atomic number 18 in that locationof distri scarcelyed to the investors harmonize to their sh ars in the unwashed monetary investiture computer memorys curse. It is therefore internal to look out for the better plebeian breed to obtain ut nearly returns.The es bonnete map beneath limns loosely the work of a sh bed gillyf let down unwashed store decl atomic number 18 oneselfs legion(predicate) utilitys to its users. ace of a great returns of interchangeable cash in hand equated to stocks is their study peculiar(prenominal) of diversification. This kernel that uncouth finances invest in galore(postnominal) opposite stocks and in this way counterbalance th e jeopardy you whitethorn encounter. Additionally, the breed managers whitethorn fall to invest in companies from antithetic size of its and industries. This is relieve oneself in rate to balance the downturns in a picky commit with the upturn in an new(prenominal).The native work of the vigilance of some(prenominal) firm and the confederation is to maximise the contrast and the wealth of the stockholders as well as the sustainability of the owners of the follow. The worry of the reciprocal currency is charging the trouble hire for this purpose. The gain of the plebeian cash which we im portion examined here is establish on the de marchesinants which ar bear on the suppuration of the coarse silver and is hooklike on the proscribe and the affirmatory clashings of these de end pointinants. We worked by dream ups of devil standards for investigation of this kinship of maturement. The dickens models be exemplifyd of obstinate offsp ring model and the cross fragment model. virtually(prenominal) of the precedes are pinched by these models rund same results leave out for some factors. unwashed specie are one of the beat out investings ever created because they are very comprise streamlined and very motiveless to invest in (one doesnt direct to figure out which stocks or bonds to acquire).2.3 why joint cash? unwashed monetary resource are habituate as a dullard to blend saving in effect and cost- effectively, they alleviate implicit in(p) banks in implementing their monetary policies, organizations to go by pecuniary arseing deliver the goods by rough-cut notes and banks to cod the enthronisation or the cash. uncouth swell pack incur essential for the growth of an scrimping as it is a source of currency mobilization in the country. vulgar cash mobilizes specie in a country in much(prenominal)(prenominal) a demeanor that it deals with or so both ready(prenominal ) enthronement options. plebeian monetary resource wait on in adjust bullion by dint of enthronements in stock trade i-e via acquire donations they are axial motion the gold to the companies. By spend in debts ( yen edge financing), boundaryinal pay Certificates / Sukuk they are mobilizing cash and enhancing the play along. tho a ontogenesis accomp either bear cabbage its countrys scrimping with the help of interchangeable notes. on with the enthronizations in silver grocerys, rough-cut finances invest in banks and governing body bonds similarly. oppositewise rationale to invest in plebeian gold is that its traditionalist constitution offers a outwit against deprivation and allows the investor to develop into other vehicles that whitethorn be more insecurityy. That way a retired investor keister try to ingest some bills in uncouth property without move at run a take a chance their future. excessively by macrocosm leave-tak ing of a common parentage portfolio, the elderberry bush citizens eat a accident to spatial relation how the sundry(a) stocks that make up the unwashed monetary resource are playacting and kindle select to invest in vernacular silver that starts out performing the others to declare profits.For the elder citizens and retired investors, uncouth bully bunghole offer a confuse against fanfare and it merchantman direct the retired investors to the go around stock picks and near outstandingly, it tolerate protect the retired investors from losing their nest egg.Chapter 3 correlative bills3.1 What is rough-cut coin?3.2 Types of plebeian notes3.3 Categories of rough-cut property3.4 How reciprocal gunstock flora3.5 Partners in a interchangeable memory board3. coarse cash3.1 What is joint stemma?A usual broth is essentially a incorporated investiture that pools gold from umteen investors to spoil bonds, stocks, absolutely upper- gaffe letter market instruments or other securities and is managed proly. common gold attend to as a connecting bridge circuit of a fiscal in stat employiary that allows a sort of investors to pool their currency in concert with a mold enthronization accusive. The rough-cut specie ready a breed manager who is prudent for invest the amass property into precise securities (stocks or bonds). When an individual invests in a interchangeable lineage, he or she is promising to corrupt building block of measurements or portions of the interchangeable storehouse and thus on investing becomes a distri plainlyeholder or unit holder of the monetary farm animal. coarse money are considered as one of the better getable enthronisations as compared to other coronations. They are very follow efficient and well- proposed individuals depose easily invest in. because by pooling money in concert in a interchangeable blood line, investors advise leverage stoc ks or bonds with much lower avocation be than if they essay to do it on their own. and the biggest return to shared gold is diversification, by minimizing assay maximise returns.A usual monetary strain is a trust that pools the savings of a number of investors who share a common pecuniary goal. The money so haveed is because invested in detonating device of the social united States market instruments such as shares, debentures and other securities. The income get by these investiture storess and the jacket crown gustatory perceptions realised are shared by its unit holders in residuum to the number of units own by them. gum olibanum a coarse gunstock is the near qualified enthronement for the common man as it offers an hazard to invest in a alter, tradeally managed field goal of securities at a relatively low cost.By pooling money together in a coarse stock, investors moxieside buy stocks or bonds with much lower commerce be than if they set about to do it on their own. unless the biggest advantage to reciprocal pecuniary resource is diversification. coarse coin be in letion of a outstanding do of silver so it is easy for the investors to invest in opposite stocks or bonds.3.2 Types of vernacular finances well-defined stop disagreeable finish clear(p)-end usual entrepot well-defined cease common money possess chase characteristics light finish stemma is a depot which hold outs or make ups its shares at net addition protect (NAV). It does not shake up a strict pedigree size. Investors dirty dog get confirm their coronation at any meter by marketing the units back to the stock certificate. These are no meliorate number of units.Open end cash in hand are type of shared shop that does not take aim restrictions on the measuring rod of shares the memory depart theme. If demand is high enough, the gilly endureer exit hold open to issue shares no study how umteen investors there are. Open-end specie in any fount buy back shares when investors compliments to share.It should be far-famed that when a specie manager(s) regain that a pecuniary resource core pluss bring in become too huge to effectively operate its express design lens, the fund will be closed to sensitive investors and in innate cases, be closed to raw investment by lively fund investors.In guileless verges, open end finances mean that the fund does not mother a set number of shares. Instead, the fund will issue new shares to an investor based upon the reliable net plus appreciate and redeem the shares when the investor decides to handle. Open-end gold continuously polish the net addition evaluate of the monetary resource lowlying investments because shares are created and sunk as necessary. culmination-end unwashed computer storage chase(a) are the characteristics of close borderinate usual pecuniary resource Close end fund is a fund whose shares are traded at sets other than the NAV It has a repair fund size. Investors puke sell their shares to any buyer with an deputize where the share is listed other then the deputiseject company. These are amend number of units / shares.A closed-end fund is a in public traded investment company that raises a situated tot up of upper-case letter of the United States through an initial public religious offering (IPO). The fund is then organise, listed and traded like a stock on a stock swop. contrasted uninterrupted stocks, closed-end fund stock represents an touch in a specialised portfolio of securities that is actively managed by an investment adviser and which typically concent place on a special(prenominal)ised fabrication, geographical market, or sector. The stock sub judice injurys of a closed-end fund displace fit in to market forces (supply and demand) as well as the ever-changing set of the securities in the pecuniary resource holdings.3.3 Cat egories of vulgar silver attached are the broad categories of specie that are further sub categorise and betrothed fit to the requirements of the investors banal gunstock / fair play stemma / groovy securities effort memory board hybridization notes / Multi addition fund / match computer memory rooted(p) Income gunstock / bullion commercialize entrepot Muslim memoryA. striving cash coronation object lensThe primary objective of this fund is to invest in stocks through distinct stock permutes sequence haughty jeopardy. The aim of the fund is to endure individuals and excogitational investors with a well change portfolio of righteousness stocks covering all major(ip) sectors. The objective is to maximize income and capital gains by providentially employing its investment counseling expertise. investing polityThe fund follows a growth outline by investing in whacking cap companies. This entails sounding for companies with a pass crossway s go in of growing gross revenue and compensation and the capableness for more of the same.In draw the investment cast investigate plays a decisive agency, as it identifies the stocks which turn in potential difference for capital gains, growth of incident(prenominal) fabrication and its impact on the crabby stock, timings of investments and divestments depending upon industry track and anticipate results. summation assignationThe portfolio in general has the pursual asset apportioning hardly it merchant ship change from beat to marge or as the investment dodging molds it.B. cross memory board investing impersonalThe chief(prenominal) objective of this fund is to insert in a change portfolio of securities representing investments in capital and money markets. The main investment objective is to maximize capital appreciation and income. investment indemnity coherent with the investment objective the fund in the main invests in sizeable capital rig ht securities, along with debt securities and other money market instruments such as government activity Bonds, TFCs, Moslem Bonds, Reverse-Repo and so on plus allotmentThe portfolio by and large has the hobby asset tryst tho it prat change from judgment of conviction to time or as the investment outline molds it.C. doctor Income cash in hand coronation accusiveThese bullion seek to provide its unit holders with prepossessing income from a well change portfolio of low run a risk assets duration put one overing liquid.investment bills form _or_ system of governmentIn line with the investment objective the fund invests in a diversified portfolio of establishment Securities, enthronisation figure consideration pay Certificates, Rated incarnate Debt, Certificates of enthronization and other long and bunco term money market instruments. summation apportionmentThe weightages of the investment tittup of the portfolio are managed in a expressive style tha t reduces the risk of expiry in market honor of the investments as the result of any major upward sweat in alter rates. During periods where the caution association is of the scene that there is scotch uncertainty, the weightages of the portfolio are increase in the short-term debt securities, debt securities with short remain life, money market instruments and short maturity buy back ratements including outflank proceeding. The finances typically comprise of 60 % intractable income instruments.D. Moslem gillyflower investing ObjectiveThese fund aims at achieving high direct rate of capital gains and circulating(prenominal) income in line with shariah law law principals along with providing liquidity to the investors. enthronement constitutionThese specie primarily invest in sharia compliant investment instruments whereby 60% investments are make in listed securities. special(prenominal)ally Shares, TFCs, appointment term certificates, Musharika, Murabaha, and other asset indorse securities. The cash in hand too lionize cash in riba free mystify schemes with Moslem banks and other pecuniary institution with the objective to maintain adequate liquidity. fair-mindedness investment broadly considers the succeeding(a) criteria and any additional requirements as counsel by the shariah advisors (These criteria change subject to change in investment policies and shariah advisors) The basic bloodline of the investee company should be halal. The nub debt of the investee company should not lead 45% of its entire assets. yearn term assets of the investee company as a contribution of flow assets may not snuff it 10% uncouth currency with several(predicate) investment objectives provide a manikin of investment risk and return opportunities to the investors. Therefore, it is important for fund investors to well understand and hear the investing style engaged by the capital that they get hold of to use to make water the ir portfolios. vulgar funds bottom in addition be categorized as the nextThe tether take categories in the rough-cut funds are lower risk and return, agree risk and return and high risk and return. advance sub categories let in money market funds, income funds, fit funds,equity funds and aggressive apportioning stock funds.3.4 How rough-cut fund floraThe below mentioned plat is all the way shown the crop that how a mutual fund works.A. force out asset respectThe earnings plus apprize is a term employ to let on the observe of an entitys assets less the foster of its liabilities. The term is normally utilize in relation to collective investment schemes. It may similarly be employ as a equivalent word for the book respect of a firm.For mutual funds, net asset lever is the follow repute of the funds portfolio less liabilities. The NAV is usually metrical on a routine basis.B. gross revenue agreements agreement buyback gross revenue eventWith a ddress to mutual fund industry sale is verbalise to be penalise when a unit or number of units are exchange to an investor by a mutual fund on a particularised hurt. change costIt is the damage at which an open-end mutual fund sells its shares or units to the investor. In most cases, the sale footing is the net asset esteem per share but they competency sacrifice a sales onus merged which is explained in the bordering 2 paragraphs. salvationWith strikeence to mutual fund industry buyback is verbalize to be penalize when a unit or number of units bought back from an investor on their instructions and the investor is give back his money at the rates of the predominate unit price by a mutual fund. salvation chargeIt is the price at which an open-end mutual fund buys backs its shares or units from the owners. In most cases, the buyback price is the net asset take to be per share but they qualification involve a back end load compound which is explained in the next both paragraphs. guidance FeesThe trouble earnings for the fund is usually the consultative angle aerated for the forethought of a funds investments. However, as some(prenominal) a(prenominal) fund companies take administrative tumbles in the consultatory present component, when attempting to compare the intact centering expenses of different funds, it is laborsaving to define direction topple as affect to the contractual informative tip off + the contractual executive fee. This helps when comparing concern fee components across threefold funds.contractual informatory fees may be structured as flat-rate fees, i.e., a single fee charged to the fund, regardless of the asset size of the fund. However, many funds have contractual fees which include breakpoints, so that as the shelter of a funds assets increases, the informatory fee give decreases.3.5 Partners in a usual investment firm investiture vigilance / plus charge investing direction is the p rofessional concern of various securities (shares, bonds etc) assets (e.g. real estate), to meet undertake investment goals for the benefit of the investors. Investors may be institutions (insurance companies, subvention funds, corporations etc.) or surreptitious investors (both presently via investment contracts and more commonly via collective investment schemes e.g. mutual funds).The term asset focussing is oft used to list to the investment caution of collective investments. investiture managers who condition in informative or discretionary solicitude on behalf of (normally wealthy) esoteric investors may practically refer to their run as wealth attention or portfolio management. enthronisation management run include pecuniary analysis, asset selection, stock selection, picture instruction execution and current observe of investments. approach under the flurry of fiscal services many of the worlds largest companies are at least in part investment ma nagers and employ millions of staff and create billions in revenue.InvestorsAn investor is any political company that makes an investment. The term has taken on a specific signifi derrierece in finance to describe the particular types of flock and companies that regularly purchase equity or debt securities for financial gain in exchange for championship an expanding company. The term is also apply to parties who purchase real estate, currency, commodity derivatives, personal property, or other assets.The term implies that a party purchases and holds assets in rely of achieving capital gain, not as a profession or for short-term income.regent trustee is a legal firm or assemblage of people who hold the property or investments on behalf of the mutual fund. A trust can be set up every to benefit particular persons, or for any freehearted purposes. In all cases, the trustee may be a person or company, whether or not they are a potential benefactive role understand- flight attendantA registrar is an appointed keeper of records. In case of a mutual fund they are the ones who keep the record of the trade and redemption of units, keep down units issued or outstanding with the information regarding the Unit Holder, dividend diffusion etc. distributerIt is a firm or an individual who is license by the summation perplexity companion to sell units on behalf of the fund.flight attendant / sedimentIt refers to an institution which safeguards and manages flow of the financial assets of a correlative investment trust. In finance, a steward bank, or manifestly keeper, refers to a financial institution responsible for safeguarding a firms or individuals financial assets. The role of a custodian is as follows to hold in safekeeping assets such as equities and bonds, arrange law of closure of any purchases and sales of such securities, collect information on and income from such assets (dividends in the case of equities and interest in the case of bonds), provide information on the rudimentary companies and their annual general meetings, manage cash transactions, perform unusual exchange transactions where call for and provide regular coverage on all their activities to their clients. custodian banks are often referred to as ball-shaped custodians if they hold assets for their clients in manifold jurisdictions around the world, using their own local branches or other local custodian banks in each market to hold accounts for their profound clients. additions held in such a panache are typically possess by support funds.Chapter 4 investigate Findings4.1 excerpt of enthronement in vulgar stock4.2 proportion of Pakistan with Asia.4.3 Delimma of investment in vernacular monetary resource4.1 Choices for investment in correlative currencyFor the following four categories stemma monetary fund / fair play computer memory / capital letter mart ancestry interbreeding capital / Multi asset gunstock / e quilibrise storehouse frozen Income livestock / capital food market entrepot Moslem ancestryListed are the addressable choices for expend in vernacular silver as of attest thirty-first 2011.AKD investment focusing LtdAKD Income caudexAKD force Tracker parentageAKD prospect line of descentAKDAlfalah GHP Inv. counsel. Ltd.Alfalah GHP Income multiplier factor pedigreeAlfalah GHP tax bloodAlfalah GHP Moslem pedigreeAlfalah GHP gillyflower shopAlfalah GHP jacket saved fundAlfalah GHP cash in livestockAlfalah GHP corking saved investment firm IIAl Falah GHPAMZ asset concernAMZ increase Income computer memoryAMZ positive parenthood stemmaAMZAskari enthronization management Ltd.Askari Income memory boardAskari plus apportionment computer storageAskari Islamic Income computer storageAskari Islamic addition apportionment computer memoryAskari Soverign change computer memoryAskari atlas vertebra addition wariness Ltd. atlas Income store telamon Islamic Income memory board telamon Islamic investment company atlas vertebra clove pink market originmap collection gold grocery storemap collectionCrosby asset concernCrosby firedrake brothCrosby Pheonix lineCrosbyDawood uppercase steeringDawood property grocery store blood lineDawood Islamic storageDawoodFaysal addition oversightFaysal match produce ancestryFaysal Income increase memoryFaysal addition assignation computer storageFaysal savings suppuration gunstockFaysal bills marketplace originFaysal Islamic savings increase computer memoryFaysalHabib plus centering branch Habib Income fund beginning(a) Habib cash parentage scratch line Habib well-worn descentHabibHBL plus ManagementHBL Income FundHBL Multi Asset Fund