your investment partner

Transcription

YOUR INVESTMENT PARTNER
A wholly owned subsidiary of
RETURN | RISK | TIME HORIZON | CONSTRAINTS l ABILITY TO EXIT
These are the five concerns that matter to the investors the most!
www.primusinvestments.com
AFFILIATION
Government of
Pakistan
100%
Brunei Investment
Agency (BIA)
50%
OWNERSHIP
STRUCTURE
Pak Brunei Investment Company (PBIC)
PIBC is a full service Merchant Banking outfit established in 2007 as a
joint venture between Government of Pakistan and Brunei Investment
Agency
The remaining 50% is owned by the Government of Pakistan and
represented by the Ministry of Finance.
The company has established active platforms for Project Finance,
Corporate Finance & Advisory, Capital Market Operations, and Fixed
Income Trading & Distribution activities
Brunei Investment Agency (BIA)
Brunei Investment Agency (BIA) is the sovereign wealth fund of Brunei
Darussalam.
BIA was established in 1983 and a senior representative of BIA is part
of the Board of Primus Investments
BIA is a Public Sector Entity. It holds and manages the Government
of Brunei's General Reserve Fund and their external assets that are
built up from export of oil and natural gas
BOARD OF
DIRECTORS
Mr. Khalid Aziz Mirza
CHAIRMAN
Mr. Mirza, Chairman of Primus Investment Management, brings with him over 41 years of
experience in Investment Banking serving at various key positions in Investment
Corporation of Pakistan (ICP), Credit & Finance Corporation London; International Finance
Corporation (IFC) (Member, World Bank Group). Beside this, he has also served as
Chairman - Securities & Exchange Commission of Pakistan (SECP); The World Bank Washington DC, USA; Chairman and Chief Executive - Monopoly Control Authority, GoP;
Chairman and Chief Executive Competition Commission of Pakistan and Member
Competition Appellate Tribunal. Mr. Mirza has been chosen as Nominee director of Medgulf
Insurance as well as SILK Bank on behalf of IFC. He has also been appointed as a financial
advisor of WAPDA by the Government of Pakistan. Currently, he is teaching corporate
governance at Lahore University of Management Sciences (LUMS) Pakistan.
Ms. Ayesha Aziz, CFA
DIRECTOR
Ms. Aziz currently serves as the Managing Director of Pak Brunei Investment Company. She
brings over 20 years of experience in Structured Finance, Private Equity & Strategic
Advisory businesses. Ms. Aziz started her career from ANZ Grindlays Bank & worked in
Merchant Banking & Treasury Markets Divisions. She was also involved in establishing &
managing business operations & subsidiaries of Pak Oman Investment Company in senior
roles.
BOARD OF
DIRECTORS
Mr. Mokhzani Izhar Bin Haji Abu Bakar
DIRECTOR
Mr. Mokhzani Izhar Bin Haji Abu Bakar has been serving Brunei Investment Agency in pivotal
fund management roles since 2002. Mr. Mokhazni is a BA (Hons) in Accounting and Financial
Management from the University of Sheffield, United Kingdom. His experience covers several
domicile whereas he is currently serving BIA in capacity of Senior Manager, Listed Equity
Strategy.
Mr. Zafar Iqbal Sobani
DIRECTOR
Mr. Zafar Iqbal Sobani has been associated with House of Habib since August 2013 as
Managing Director (designate), at Habib Metro Pakistan (Pvt) Limited and Makro Habib
Pakistan Ltd. He is currently working as Director New Business Development. He has also
served in the capacity of Chief Executive of Hub Power Company for approx two years from
July 2011 and also as a Chief Executive of Liberty Power Tech, IPP from August 2008 to June
2011. Mr. Sobani has completed his audit training from A.F. Ferguson and also worked in
Middle East with Ernst and Young Saudi Arabia between February 1982 to September 1985.
He is currently the director on the board of Institute of Capital Market and was also nominated
as Board member of the Privatization Commission, Government of Pakistan in December
2013.
BOARD OF
DIRECTORS
Mr. Ahmed Ateeq
MANAGING DIRECTOR/ CEO
Mr. Ahmed Ateeq is the Founder Chief Executive Officer at Primus Investment Management
Limited and has been associated with Pak Brunei Investment Company Limited as Group
Head Treasury. Under his leadership, PIML was able to build a solid business and achieved
substantial growth through the expansion of fund offerings and distribution channels. He
brings with him wide-ranging experience in Money, Capital Markets and Investment
Banking.
Mr. Ateeq has previously held senior management positions at Pak Oman Investment
Company Limited, Jahangir Siddiqui & Company Limited and ABN Amro Bank in Pakistan.
Mr. Ateeq’s vast areas of specialization include Fixed Income markets where he has a rich
experience of development of distribution networks and bond structuring / market making.
Under the supervision of Mr. Ateeq, Pak Brunei Investment Company Limited has had one
of the most active bond trading desks in the market. Mr. Ateeq has also been honored with
CEO Excellence Award for his management skills by British Asian Culture and Business
Milestones and selected as Top 100 Business leaders of Pakistan at the CEO Summit. He is
also serving as director on board of Awwal Modaraba Management Company Limited.
PRIMUS MANAGEMENT’S PROFILE
Ms. Rida Jiwani
CHIEF STRATEGY OFFICER
Ms. Rida Jiwani is the current Chief Strategy Officer for Primus Investment Management Limited. She holds a
BSc degree from University of London with vast experience spanning up to 18 Years in the Financial Sector.
She possess sharp business acumen, Team spirit and Leadership qualities as she has been actively involved
in fields related to product development, Marketing, Corporate Sale and Retail Sale Nationwide.
Ms. Rida Jiwani started her career track from Equity Desk of JSCL and later became a Fund Manager of UTP
Income Fund at Abamco Limited JSCL Group Company. Over the years she has refined her core expertise in
key financial areas related to Sales, Investment Advisory and Business development. Prior to joining Primus
Investment Management Limited, she has been associated with PICIC Asset Management as Country Head
Corporate Sales and (NAFA) NBP Fullerton Asset management Company Limited. Her vision and strategic
planning led to sizeable institutionalized business growth for Mutual Funds and is responsible for launching
countless Investment Advisory Mandates. Her vast experience and wisdom of more than 18 years in the
finance industry is an asset to the company.
Mr. M. Samir Malik, CFA
CHIEF INVESTMENT OFFICER
Mr. Samir Malik has more than 7 years of work experience in different financial institutions ranging from Asset
Management, Brokerage and Financial Consulting. He started his career with Rehman Sarfaraz Rahim Iqbal
Rafiq & Co. Chartered Accountants (Russell Bedford International), where he worked as Assistant Business
Development and Financial Consultant. He was later associated with First Pakistan Securities Limited in the
capacity of a Senior Dealer. Prior to joining Primus Investment Management Limited he was working with
Faysal Asset Management Limited, where he worked as an Investment Advisor and Senior Trader. Mr. Malik
was awarded the Chartered Financial Analyst (CFA) designation by the CFA Institute in April 2014.
Ms. Rahaila Aleem
CHIEF FINANCIAL OFFICER & COMPANY SECRETARY
Ms. Rahaila Aleem is an associate member of the Institute of Chartered Accountants of Pakistan. She started
her career from Deloitte Pakistan specializing in audit and assurance Services in versatile industries specially
the financial services sector. Her 9 years of working experience include statutory and financial audits, reviews
and other engagements of reputable multinational and local organizations.
Mr. Ali Kamal
HEAD OF RESEARCH
Mr. Ali Kamal has 6 years of experience in financial markets especially research. Prior to joining Primus
Investment Management Limited, Mr. Kamal has worked with National Investment Trust Limited as Investment /
Research Analyst, the Government of Pakistan owned Asset Management Company which manages around
USD 700 million. Mr. Kamal is a CFA level 3 candidate and also holds MBA in Finance from NUST Business
School.
Mr. Salman Raza Kazmi
FUND MANAGER
Mr. Salman Raza Kazmi joined PRIMUS in June 2013 and has a cumulative working experience of 08 years in
Equity Research, Compliance, Corporate Affairs and Fund Management. He has been managing PIML Income
Fund and PIML Daily Reserve Fund and possesses around 02 years experience as a Fund Manager. Prior
joining to PRIMUS, he was associated with NBP Fullerton Asset Management Limited (NAFA) and Pak Oman
Asset Management Limited in various capacities. His expertise is in the areas of fund management and analysis
and developing MIS reports. He holds MS (in Financial Management, from UK) and MBA (in Management
Information Systems) degree.
Mr. Asif Iqbal
HEAD OF RISK & COMPLIANCE
Mr. Asif brings with himself over 12 years of Professional experience in Compliance, Audit and Assurance. Prior
to joining PIML, he served in Pak Oman Asset Management Company Limited as Compliance Officer. He also
worked with Riaz MSB Limited (UK) and Riaz Ahmad, SaqibGohar& Co (Chartered Accountants). He has done
Bachelors in Accounts & Finance from UK.
INTRODUCTION
PRIMUS Investment Management Limited (PIML) is a public, unlisted Non- Banking Finance
Company, the company is a 100% subsidiary of Pak Brunei Investment Company and was granted
license by the SECP to undertake Asset Management & Investment Advisory Services on December
23, 2011.
PRIMUS believes in making positive contributions through responsible business practices, and
emphasizing the need of saving as a culture. At Primus, we find the right solutions for our customers
in regard to the financial challenges faced on day to day basis.
We offer dynamic solutions, addressing to the financial needs of our customers. Our dedicated
focus reflects our commitment in terms of financial performance bringing the best financial solutions
amongst our competitors.
AIMS AND
OBJECTIVES
Primus aims to encourage the culture of savings, and high risk adjusted returns to investors. This is
done by:
Achieving financial discipline & planning for your future
Identifying your financial needs by understanding your specific financial solutions.
Providing regular Information on the significance of savings and investments
Meeting inflation adjusted returns on after tax basis
OUR STRENGTHS
Backed by a strong sponsor Pak Brunei Investment Company, and supported by two governments,
i.e. Government of Pakistan and the Brunei Government.
Expertise in the local and global market dynamics
Using strong research and risk management practices to achieve higher returns for investors.
Ability to provide solutions for financial needs, and planning to investors across various sectors.
Allocation between different types of assets ( Debt, Equity, Real Estate & commodity Markets). The
alternate classes are not only limited to Mutual Funds.
OUR FUNDS
PIML is currently managing the following funds:
Conventional Funds
PIML – Income Fund (Fixed Income, Long Term, Low Risk)
PIML – Daily Reserve Fund (Fixed Income, Short term, Low Risk )
PIML – Strategic Multi Asset Fund (Equity, Fixed Income, Long Term, Medium
Risk)
PIML – Value Equity Fund (Equity, Long term, High Risk
PIML – Asset Allocation Fund- To be launched soon
Sha'riah Compliant Funds
PIML – Islamic Income Fund (Fixed Income, Long Term, Low Risk)
PIML – Islamic Equity Fund (Equity, Long Term, High Risk)
SCOPE OF SERVICES
Primus Investment
Management Limited
Investment
Advisory
Fund
Management
PIML- Income
Fund
PIMLStrategic Multi
Asset Fund
PIML Daily
Reserve Fund
PIML- Islamic
Equity Fund
PIML- Islamic
Income Fund
PIML- Value
Equity Fund
Discretionary
Account
Management
Non
Discretionary
Management
PIML- Asset
Allocation
Fund*
* Coming soon
INVESTMENT ADVISORY
Discretionary Account
Management
Non Discretionary Management
• Provides continuous personalized
discretionary management of your funds
• Recommending customized asset allocation
and stock selection
• Initial allocation and ongoing reallocation,
rebalancing and monitoring
• Requires a discretionary disclosure clause in
the investment agreement and power of
attorney to open & operate CDC sub accounts
and IPS accounts
• All assets shall be held in the name of the
Client
• An asset based fee is charged
• Investment Advice
Non-Discretionary Accounts
• Only investment advice
provided to client
• Provides point in time stock
• Client remains responsible for
the initial allocation, ongoing
reallocation and rebalancing
• Annual Fee is charged for this
service
• Specific recommendations
from among the investment
avenues available.
• All trading decisions lay with the
client.
• Investment Advisor recommends
and executes trades on behalf of
the client.
• Annual Fee is charged for this
service
PIML Daily Reserve Fund
LOWEST RISK
MEDIUM RISK
PIMLVEF
PIML-IEF
PIMLSMAF
PIML-IF
PIML-IIF
PIMLDRF
Objective:
The objective of the fund is to generate consistent returns with minimal risk by investing primarily in Government
Securities, cash and near cash instruments
HIGH RISK
PIML Income Fund
LOWEST RISK
MEDIUM RISK
PIMLVEF
PIML-IEF
PIMLSMAF
PIML-IF
PIML-IIF
PIMLDRF
Objective:
The objective of PIML - Income Fund (formerly Primus Cash Fund) is to generate competitive returns by
investing in short to long term debt instruments and securities.
HIGH RISK
PIML Strategic Multi Asset Fund
LOWEST RISK
MEDIUM RISK
PIMLVEF
PIML-IEF
PIML-SMAF
PIML-IF
PIML-IIF
PIML-DRF
Objective:
The objective of PIML-SMAF, an open-end balanced scheme, is offering retail and institutional clients a product
that aims to maximize return and minimize risk. For this purpose, a balanced portfolio is created that has an
optimal mix of equity, debt securities and commodity.
HIGH RISK
PIML Islamic Equity Fund
LOWEST RISK
MEDIUM RISK
PIMLVEF
PIML-IEF
PIML-SMAF
PIML-IF
PIML-IIF
PIML-DRF
Objective:
The objective of PIML-IEF is to achieve long term capital growth by investing mainly in Shariah Compliant listed
equity securities.
HIGH RISK
PIML Islamic Income Fund (Formerly Islamic Money Market
Fund)
Objective:
LOWEST RISK
MEDIUM RISK
PIMLVEF
PIML-IEF
PIML-SMAF
PIML-IF
PIML-IIF
PIML-DRF
The investment objective of the fund is to generate competitive risk adjusted returns by investing in short,
medium and long-term Shariah Compliant fixed income instruments.
HIGH RISK
PIML Value Equity Fund
LOWEST RISK
MEDIUM RISK
PIMLVEF
PIML-IEF
PIML-SMAF
PIML-IF
PIML-IIF
PIML-DRF
Objective:
The objective of PIML-Value Equity Fund is to achieve long term capital growth by investing mainly in listed
equity securities.
HIGH RISK
OUR ENTERTAINED CLIENTS
PIML Daily Reserve Fund
Fund Manager’s Review:
In the outgoing month, the fund generated a return of 6.83% compared to its benchmark return of 5.43%, outperforming its benchmark by 140
bps. Moreover, the fund on 12M Trailing basis outperformed the benchmark by 186 bps and remained the top performing funds in its respective
category on FYTD basis. During the month exposure to treasury bills was reduced to zero percentage owing to better yields in cash product. We
intend to increase exposure in government securities and monitor the market closely to avail trading opportunities for alpha generation.
PIML Income Fund
In the outgoing month, the fund generated a return of 0.34% compared to its benchmark return of 5.92%, underperforming by 558 bps. This was
due to increase in the PKRV yields – ranging from 10bps to 21bps upside movement on average. The yield curve increased after SBP announced
status quo in the MPS. This was a sentiment dampener for the market resulting in higher yields. However, the fund on 12M Trailing basis
significantly outperformed the benchmark by 770 bps and remained among top five performing funds in its respective category on FYTD basis.
During the month the exposure in debt instrument was increased to 1.46% of net assets while exposure in government securities was 54% of net
assets. We intend to monitor the market closely to avail trading opportunities for alpha generation.
PIML Strategic Multi Asset Fund
In the outgoing month, the fund earned a return of -4.37% while the benchmark declined by -3.67%, translating into an underperformance by 70
bps. The negative return is mainly attributed to the monthly FIPI outflow of approx. PKR 5.8 billion, political unease in the country and a fall in
international oil prices dragged the index down. The underperformance is due to the increase in the yield curve because the SBP maintained a
status quo in the last MPS held on 21st November 2015.
At the end of the month the fund’s exposure in equities reduced to 63.60% of the net assets as compared to 66.34% of the net assets in the last
month.
We are taking a cautious approach as the US is expected to increase its interest rates in December which might trigger more foreign selling.
PIML Islamic Equity Fund
In the outgoing month, the fund earned a return of -6.08% while the benchmark declined by -6.76%, translating into an outperformance by 68
bps. The negative return is mainly attributed to the monthly FIPI outflow of approx. PKR 5.8 billion, political unease in the country and a fall in
international oil prices which dragged the index down.
month.
PIML Islamic Income Fund
In the outgoing month, the fund generated a return of5.58% compared to its benchmark return of 4.66%, outperforming its benchmark by 92 bps.
The fund also outperformed the benchmark by 111 bps on FYTD basis and remained amongst the top five performing funds its respective
category. Moreover, as the fund scheme was converted to income scheme from money market category, we intend to build exposure in the
authorized investments following a cautious approach.
PIML Value Equity Fund
In the outgoing month, the fund earned a return of -5.85% while the benchmark declined by -5.86%. The negative return is mainly attributed to
the monthly FIPI outflow of approx. PKR 5.8 billion, political unease in the country and a fall in international oil prices dragged the index down.
month.
YOU CAN CONTACT US
PRIMUS INVESTMENT MANAGEMENT LIMITED
A wholly owned subsidiary of
Pak Brunei Investment Company Ltd.
3rd
HEAD OFFICE
Floor | Horizon Vista | Commercial - 10 | Block-4 | Scheme No.5 | Clifton | Karachi |
Pakistan |
Phone: (+92-21) 35361372 | Fax : (+92-21) 35370873
LAHORE OFFICE
1st Floor l Commercial Plaza l 852- D l Faisal Town l Akbar Chowk l Lahore l Pakistan
Phone: (+92-42) 35221632-4 l Fax: (+92-42) 35221635
ISLAMABAD OFFICE
Executive Business Centre l Saudi Pak Tower l Jinnah Avenue l Islamabad.
Phone: (+92-51) 2800397-8

your investment partner

Transcription

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