Table of Contents

Content Page No.

From the CIO's Desk Page 2
Performance Summary Page 3
Al-Ameen Islamic Cash Fund Page 4
Al-Ameen Islamic Cash Plan-I Page 5
Al-Ameen Islamic Sovereign Fund Page 6
Al Ameen Islamic Income Fund Page 7
Al-Ameen Islamic Aggressive Income Fund Page 8
Al-Ameen Islamic Aggressive Income Plan-I Page 9
Al-Ameen Islamic Asset Allocation Fund Page 10
Al-Ameen Islamic Energy Fund Page 11
Al-Ameen Shariah Stock Fund Page 12
Al-Ameen Islamic Retirement Savings Fund Page 13
Al Ameen Islamic Fixed Term Plan I-G Page 14
Al Ameen Islamic Fixed Term Plan I-M Page 15
Al Ameen Islamic Fixed Term Plan I-P Page 16
Al Ameen Voluntary Pension Fund KPK Page 17
Historical Performance Page 18
Performance Summary
Fund Managers Report - January 2025

Return ( Net of all Expenses including

Risk of Management Fee)
Fund Risk Fund Inception
S.No. Fund Category Fund Name Symbol Principal
Profile Size Date CYTD Since Inception CAGR
Erosion
Fund Benchmark Fund Benchmark
Shariah Compliant Money Principal at
1 Al-Ameen Islamic Cash Fund AICF Low 33,342 17-Sep-12 9.99% 10.17% 9.25% 5.53%
Market Fund low risk

Shariah Compliant Money Principal at

2 Al-Ameen Islamic Cash Plan-I AICP-I Low 17,127 29-May-20 9.97% 10.17% 13.85% 6.34%
Market Fund low risk

Shariah Compliant Income Principal at

3 Al-Ameen Islamic Sovereign Fund AISF Medium 25,236 07-Nov-10 9.80% 12.84% 9.14% 8.86%
Fund medium risk

Principal at
4 Islamic Income Al Ameen Islamic Income Fund AIIF Medium 1,774 29-May-23 10.50% 12.01% 19.50% 10.00%
medium risk

Shariah Compliant Principal at

5 Al-Ameen Islamic Aggressive Income Fund AIAIF Medium 783 20-Oct-07 9.62% 11.74% 8.49% 8.10%
Aggressive Fixed Income medium risk

Shariah Compliant Principal at

6 Al-Ameen Islamic Aggressive Income Plan-I AIAIP-I Medium 4 16-Apr-20 26.26% 11.74% 13.11% 9.87%
Aggressive Fixed Income medium risk

Principal at
7 Islamic Asset Allocation Al-Ameen Islamic Asset Allocation Fund AIAAF Medium 1,461 10-Dec-13 -1.54% -0.74% 11.96% 10.48%
medium risk

Principal at
8 Islamic Equity Al-Ameen Islamic Energy Fund AIEF High 2,797 13-Dec-19 -11.52% -3.73% 22.01% 21.12%
high risk

Principal at
9 Islamic Equity Al-Ameen Shariah Stock Fund ASSF High 16,576 24-Dec-06 -4.86% -3.73% 16.04% 15.37%
high risk

Principal at
10 Islamic Fixed Return Al Ameen Islamic Fixed Term Plan I-G AIFRP-I-G Low 808 29-Dec-23 -1.06% 12.84% 19.10% 16.31%
low risk

Principal at
11 Islamic Fixed Return Al Ameen Islamic Fixed Term Plan I-M AIFRP-I-M Low 365 16-Aug-24 9.21% 12.84% 13.43% 13.56%
low risk

Principal at
10 Islamic Fixed Return Al Ameen Islamic Fixed Term Plan I-P AIFRP-I-P Low 503 9-Jan-25 9.95% - 10.43% -
low risk

Principal at
12 Islamic Fixed Return Al Ameen Voluntary Pension Fund KPK AIKPK-MMSF Low 72 14-Dec-23 8.81% - 16.27% -
low risk

All Net Assets / Fund Size as appearing in respective Fund Manager Reports are exclusive of Fund of Funds (FoF)
Al-Ameen Islamic Retirement Savings Fund AIRSF 19-May-10
Shariah Compliant Equity Sub Fund Principal at 2,848 -4.39% N/A 22.10% N/A
13 Voluntary Pension
Voluntary Pension Scheme Debt Sub Fund Risk based on 2,088 - 7.27% N/A 8.52% N/A
Scheme
allocation
Money Market Sub Fund 3,623 - 7.68% N/A 8.33% N/A
Returns of periods greater than one year have been annualized using the Morningstar Methodology
The calculation of performance does not include cost of sales load.
Al-Ameen Islamic Cash Fund
Fund Managers Report - January 2025

Investment Objective
AICF is an open-end Shariah Compliant Money Market Fund which aims to provide high liquidity and competitive returns while seeking maximum possible preservation of capital by investing in low risk
and liquid Shariah Compliant instruments.

Fund Performance Fund Information

AICF1 AICF2 Benchmark Risk Profile Low risk of principal Erosion
FY-YTD (p.a.) 15.85% 16.36% 9.67% Fund Type Open End Fund
January 2025 (p.a.) 9.99% 10.46% 10.17% Fund Categorization Shariah Compliant Money Market Fund
Since Inception (CAGR) 9.25% 5.53% Launch Date 17-Sep-2012
Standard Deviation* 0.30% 1.16% Benchmark 90% 3M PKRV rates + 10% 3M Average of highest rates on savings
Sharpe Ratio** 2.08 -6.37 account of 3 AA rated scheduled Banks as selected by MUFAP.

Weighted Avg Time to Maturity 52 Days Listing Pakistan Stock Exchange (PSX)
Total Expense Ratio 3 | 5 0.94% Trustee Central Depository Company Pakistan Limited
Total Expense Ratio (MTD) 4 | 5 0.97% Auditor Yousuf Adil, Chartered Accountants
Total Expense Ratio (FYTD) 4 | 5 0.98% Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Management Co.Rating AM1 (VIS) (09-Jan-2025)
Dec'24 Jan'25 % Fund Stability Rating AA+ (f) (VIS) (09-Jan-2025)
Fund Size (PKR Mn) 50,593 33,342 -34.10% Minimum Investment Rs. 500/- Initial | Subsequent
Fund Size excluding FoFs (PKR Mn) 50,593 33,342 -34.10% Load Nil (Front-end) | Nil (Back-end)
NAV (PKR) 109.6913 110.6217 0.85% Dealing Days Monday to Friday
Leverage Nil Nil Nil Cut off times 3:00 PM | 4:00 PM (Fri) | 9:30 AM (Same Day
Redemption)
1 Simple Annualized Return | 2 Morning Star Return
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate Pricing Mechanism Backward
3 As per NBFC Regulations, 2008, this includes 0.18% representing government levy, SECP fee and sales tax. Management Fee* Up to 2% of daily net assets not to exceed max.
Selling & Marketing Expense PKR 1.50 mn.
TER regulatory limit.
4 As per MUFAP standardized template, for MTD & FYTD, this includes 0.19% & 0.19% respectively, representing
government levy, SECP fee and sales tax. Fund Manager Ghufran Ahmed
5 Annualized. Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar,
Note: Benchmark has been changed effective from October 2016; Previously 70% three (3) months PKRV rates + 30% three
CFA | Mubeen Ashraf |
(3) months average deposit rate of three (3)-AA rated scheduled Banks as selected by MUFAP
Muhammad Waseem, CFA | Syed Sheeraz Ali
^ Avg. Peer Group Return for Jan'25 was 10.50% |Ghufran Ahmed
* Actual Management Fees charged for the month is 0.73% based on average net assets (annualized).

Portfolio Quality (% of Total Assets) Value of 100 Rupees invested 12 months ago
Governme 24.82% Government Securities,24.82%
24.82% 125
AAA,2.44 2.44% AAA,2.44% 2.44% 120
AA+,28.39 28.39% AA+,28.39% 28.39% 115
AA,40.05 40.05% AA,40.05% 40.05% 110
A+,1.34% 1.34% A+,1.34% 1.34%
105
Others,2.9 2.95% Others,2.95% 2.95%
100
#N/A #N/A
95
#N/A #N/A
90
#N/A #N/A
Government Securities,24.82% AAA,2.44% AA+,28.39% AA,40.05% A+,1.34% Others,2.95%
#N/A #N/A

Return vs Benchmark
Sukuk Holdings (% of Total Assets) Since
3 Months 6 Months 1 Year 3 Years 5 Years
SUKUK-Pakistan Mobile Communication Ltd. (21-OCT-24) 2.07% Inception
SUKUK-PAKISTAN TELECOMMUNICATION COMPANY LIMITED (19-DEC-24) 1.89% AICF (p.a.) 11.91% 15.27% 18.29% 17.28% 13.31% 9.25%
SUKUK-ISMAIL INDUSTRIES LIMITED (20-AUG-24) 1.34% Benchmark 8.76% 9.43% 10.31% 7.98% 6.29% 5.53%
SUKUK-K-ELECTRIC (23-SEP-24) 1.19% Old Benchmark 7.68% 8.89% 10.03% 7.89% 6.23% 5.50%
Simple Annualized Returns | Morningstar Returns for period more than one year
Disclosure of Excess Exposure (% of Net Asset) as at January 31, 2025 Asset Allocation (% of Total Assets)
Name of Investment Exposure Type % of Issue Limit Excess Nov'24 Dec'24 Jan'25
Cash 42.39% 26.84% 49.33%
Samba Bank Limited Single entity 11.98% 10.00% 1.98%
Placements with DFIs 6.93% 7.73% 0.00%
Placements with Banks 32.30% 42.46% 16.40%
GOP Ijarah Sukuk 12.81% 16.83% 24.83%
Return vs Old Benchmark as at 31 January, 2025 Term Finance Certificates/ Sukuks 3.71% 4.30% 6.50%
Since Others 1.86% 1.85% 2.95%
FYTD Jan'25 Inception * Weighted Average time to Maturity 0.12 year for GIS
CAGR
AICF (p.a) 15.85% 9.99% 9.25%
Old Benchmark 9.99% 6.96% 5.50%

Monthly Yield *
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AICF (p.a.) 18.95% 19.28% 19.48% 19.41% 19.35% 17.93% 16.66% 17.75% 19.04% 13.06% 12.36% 9.99% 9.99%
Benchmark 11.24% 11.27% 11.24% 11.04% 11.22% 11.07% 10.75% 10.14% 9.41% 8.43% 7.68% 10.17% 10.17%
* Simple Annualized Returns | For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR
Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital
markets. These may go up or down based on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean
that it is responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.

MUFAP's Recommended Format Page - 4

Al-Ameen Islamic Cash Plan-I
Fund Managers Report - January 2025

Investment Objective
The “Al-Ameen Islamic Cash Plan-I (AICP- I)” is an Allocation Plan under “Al-Ameen Islamic Cash Fund (AICF)” with an objective to provide high liquidity and competitive returns while seeking maximum
possible preservation of capital by investing in low risk and liquid shariah compliant instruments for unit holder

Fund Performance Fund Information

AICP-I
1
AICP-I
2 Benchmark Risk Profile Low risk of principal Erosion
FY-YTD (p.a.) 15.95% 16.47% 9.67% Fund Type Open End Fund
January 2025 (p.a.) 9.97% 10.44% 10.17% Fund Categorization Shariah Compliant Money Market Fund
Since Inception (CAGR) 13.85% 6.35% Launch Date 29-May-2020
Standard Deviation* 0.25% 1.16% Benchmark 90% 3M PKRV rates + 10% 3M Average of highest rates on savings
Sharpe Ratio** 2.86 -6.37 account of 3 AA rated scheduled Banks as selected by MUFAP.

Weighted Avg Time to Maturity 40 Days Listing Pakistan Stock Exchange (PSX)
3|5
Total Expense Ratio 0.99% Trustee Central Depository Company Pakistan Limited
4|5
Total Expense Ratio (MTD) 1.05% Auditor A.F. Ferguson & Company
4|5
Total Expense Ratio (FYTD) 1.00% Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Management Co.Rating AM1 (VIS) (09-Jan-2025)
Dec'24 Jan'25 % Fund Stability Rating AA+ (f) (VIS) (09-Jan-2025)
Fund Size (PKR Mn) 18,746 17,127 -8.64% Minimum Investment Rs. 500/- Initial | Subsequent
Fund Size excluding FoFs (PKR Mn) 18,746 17,127 -8.64% Load Nil (Front-end) | Nil (Back-end)
NAV (PKR) 108.6275 109.5475 0.85% Dealing Days Monday to Friday
Leverage Nil Nil Nil Cut off times 3:00 PM | 4:00 PM (Fri) | 9:30 AM (Same Day
Redemption)
1 Simple Annualized Return | 2 Morning Star Return
Pricing Mechanism Backward
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate
3 As per NBFC Regulations, 2008, this includes 0.19% representing government levy, SECP fee and sales tax. Management Fee* Up to 2% of daily net assets not to exceed max.
Selling & Marketing Expense PKR 0.95 mn. TER regulatory limit.
4 As per MUFAP standardized template, for MTD & FYTD, this includes 0.26% & 0.19% respectively, representing government
Fund Manager Syed Sheeraz Ali (Shariah Compliant Fixed Income
levy, SECP fee and sales tax.
5 Annualized. Specialist)
Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar, CFA
^ Avg. Peer Group Return for Jan'25 was 10.50% | Mubeen Ashraf | Muhammad Waseem, CFA |
Syed Sheeraz Ali | Ghufran Ahmed

* Actual Management Fees charged for the month is 0.73% based on average net assets (annualized).
Portfolio Quality (% of Total Assets) Value of 100 Rupees invested 12 months ago
Governme 14.35% Government Securities,14.35%
14.35% 120
AAA,0.19 0.19% AAA,0.19% 0.19%
115
AA+,57.51 57.51% AA+,57.51% 57.51%
AA,24.5% 24.50% AA,24.5% 24.50% 110

A+,2.32% 2.32% A+,2.32% 2.32% 105

Others,1.1 1.13% Others,1.13% 1.13% 100
#N/A #N/A
95
#N/A #N/A
90
#N/A #N/A
Government Securities,14.35% AAA,0.19% AA+,57.51% AA,24.5% A+,2.32% Others,1.13%
#N/A #N/A

Sukuk Holdings (% of Total Assets) Return vs Benchmark

SUKUK-Pakistan Mobile Communication Ltd. (21-OCT-24) 3.78% Since
3 Months 6 Months 1 Year 3 Years 5 Years
SUKUK-ISMAIL INDUSTRIES LIMITED (20-AUG-24) 2.32% Inception
SUKUK-K-ELECTRIC (23-SEP-24) 2.15% AICP-I (p.a.) 12.21% 15.29% 18.39% 17.74% - 13.85%
Benchmark 8.76% 9.43% 10.31% 7.98% 6.29% 6.35%
Old Benchmark 7.68% 8.89% 10.03% 7.89% 0.00% 6.29%
Return vs Old Benchmark as at 31 January, 2025 Simple Annualized Returns | Morningstar Returns for period more than one year

Since Asset Allocation (% of Total Assets)

FYTD Jan'25 Inception Nov'24 Dec'24 Jan'25
CAGR Cash 39.82% 25.97% 61.76%
AICP-I (p.a) 15.95% 9.97% 13.85% Placements with DFIs 9.69% 8.49% 0.00%
Old Benchmark 9.20% 6.96% 6.29% Placements with Banks 30.00% 44.84% 14.51%
GOP Ijarah Sukuk 10.94% 12.14% 14.35%
Term Finance Certificates/ Sukuks 8.63% 7.56% 8.25%
Others 0.91% 0.99% 1.13%
* Weighted Average time to Maturity 0.09 year for GIS

Monthly Yield *
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AICP-I (p.a.) 19.15% 19.41% 19.60% 19.57% 19.05% 18.42% 17.25% 17.90% 17.58% 13.01% 13.30% 9.97% 9.97%
Benchmark 11.24% 11.27% 11.24% 11.04% 11.22% 11.07% 10.75% 10.14% 9.41% 8.43% 7.68% 10.17% 10.17%
* Simple Annualized Returns | For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR
Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital markets.
These may go up or down based on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean that it is
responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.

MUFAP's Recommended Format Page - 5

Al-Ameen Islamic Sovereign Fund
Fund Managers Report - January 2025

Investment Objective
AISF is an open-end Shariah Compliant Income Fund which aims to generate a competitive return with minimum risk, by investing primarily in Shariah Compliant Government Securities.

Fund Performance Fund Information

AISF
1
AISF
2 Benchmark Risk Profile Medium risk of principal Erosion
FY-YTD (p.a.) 18.17% 18.85% 14.64% Fund Type Open End Fund
January 2025 (p.a.) 9.80% 10.25% 12.84% Fund Categorization Shariah Compliant Income Fund
Since Inception (CAGR) 9.14% 8.88% Launch Date 07-Nov-2010
Standard Deviation* 0.54% 3.70% Benchmark 90% 6M PKISRV rates + 10% 6M Average of the highest rates on
Sharpe Ratio** 2.05 -0.28 savings account of 3 AA rated scheduled Islamic Banks or Islamic
Windows of Conventional Banks as selected by MUFAP.
Weighted Avg Time to Maturity 2.25 Years
3|5
Total Expense Ratio 1.22% Listing Pakistan Stock Exchange (PSX)
4|5
Total Expense Ratio (MTD) 1.01% Trustee Central Depository Company Pakistan Limited
4|5
Total Expense Ratio (FYTD) 1.35% Auditor A.F. Ferguson & Company
Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Dec'24 Jan'25 % Management Co.Rating AM1 (VIS) (09-Jan-2025)
Fund Size (PKR Mn) 48,314 25,236 -47.77% Fund Stability Rating AA (f) (VIS) (09-Jan-2025)
Fund Size excluding FoFs (PKR Mn) 48,314 25,236 -47.77% Minimum Investment Rs. 500/- Initial | Subsequent
NAV (PKR) 111.6088 112.5373 0.83% Load Upto 1.0% (Front-end) | Nil (Back-end)
Leverage Nil Nil Nil Dealing Days Monday to Friday
Cut off times 3:00 PM | 4:00 PM (Fri)
1 Simple Annualized Return | 2 Morning Star Return
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate Pricing Mechanism Forward
3 As per NBFC Regulations, 2008, this includes 0.22% representing government levy, SECP fee and sales tax. Management Fee Up to 2.5% of daily net assets not to exceed
Selling & Marketing Expense PKR 10.85 mn.
max. TER regulatory limit.
4 As per MUFAP standardized template, for MTD & FYTD, this includes 0.23% & 0.22% respectively, representing government
levy, SECP fee and sales tax. Fund Manager Ghufran Ahmed
5 Annualized. Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar,
Note: Benchmark has been changed effective from October 2016; Previously Average of 3 Months Placement Rate of 3 Islamic
CFA | Mubeen Ashraf |
Banks (with AA or better banks)
Muhammad Waseem, CFA | Syed Sheeraz Ali
^ Avg. Peer Group Return for Jan'25 was 9.40% |Ghufran Ahmed
* Actual Management Fees charged for the month is 0.96% based on average net assets (annualized).
Portfolio Quality (% of Total Assets) Value of 100 Rupees invested 12 months ago
Governme 74.17% Government Securities,74.17%
74.17% 125
AAA,0.67 0.67% AAA,0.67% 0.67% 120
AA+,11.73 11.73% AA+,11.73% 11.73% 115
AA,9.48% 9.48% AA,9.48% 9.48% 110
Others,3.9 3.95% Others,3.95% 3.95%
105
#N/A #N/A
100
#N/A #N/A
95
#N/A #N/A
90
#N/A #N/A
Government Securities,74.17% AAA,0.67% AA+,11.73% AA,9.48% Others,3.95%
#N/A #N/A

Disclaimer: The AISF scheme holds certain non-compliant investments. Before making any investment decision, investor Return vs Benchmark
should review the latest monthly Fund Manager Report and Financial Statements Since
3 Months 6 Months 1 Year 3 Years 5 Years
Inception
AISF (p.a.) 13.46% 17.53% 18.78% 16.12% 12.40% 9.14%
Benchmark 11.43% 14.09% 16.64% 17.01% 13.01% 8.88%
Old Benchmark 11.62% 14.18% 16.69% 16.95% 12.98% 8.86%
Simple Annualized Returns | Morningstar Returns for period more than one year

Return vs Old Benchmark as at 31 January, 2025 Asset Allocation (% of Total Assets)

Since Nov'24 Dec'24 Jan'25
FYTD Jan'25 Inception Cash 44.84% 32.37% 14.05%
CAGR Placements with Banks 18.59% 27.26% 7.83%
AISF (p.a) 18.17% 9.80% 9.14% GOP Ijarah Sukuk 31.45% 36.64% 74.17%
Old Benchmark 14.72% 13.40% 8.86% Term Finance Certificates/ Sukuks 2.59% 2.06% 0.00%
Others 2.53% 1.68% 3.95%
* Weighted Average time to Maturity 2.04 year for GIS

Monthly Yield *
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AISF (p.a.) 16.50% 16.79% 16.79% 17.44% 18.69% 20.19% 20.47% 21.55% 19.65% 12.86% 17.27% 9.80% 9.80%
Benchmark 20.45% 18.27% 19.14% 20.55% 19.10% 17.88% 18.44% 19.53% 12.37% 11.99% 9.47% 12.84% 12.84%
* Simple Annualized Returns | For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR
Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital markets.
These may go up or down based on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean that it is
responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.

MUFAP's Recommended Format Page - 6

Al Ameen Islamic Income Fund
Fund Managers Report - January 2025

Investment Objective
Al-Ameen Islamic Income Fund is an open-end Shariah Compliant Income Fund with an objective to provide a competitive rate of return to its investors by investing in quality Sukuks, Shariah compliant
Government Securities, Islamic Bank Deposits, and short and long term Shariah debt instruments.

Fund Performance Fund Information

AIIF
1
AIIF
2 Benchmark Risk Profile Medium risk of principal Erosion
FY-YTD (p.a.) 20.35% 21.19% 10.28% Fund Type Open End Fund
January 2025 (p.a.) 10.50% 11.02% 12.01% Fund Categorization Shariah Compliant Income Fund
Since Inception (CAGR) - 19.50% 10.00% Launch Date 29-May-2023
Standard Deviation* - 1.32% 0.99% Benchmark 75% 6M PKISRV rates + 25% 6M Average of the
Sharpe Ratio** 1.82 -7.13 highest rates on savings account of 3 AA rated
Weighted Avg Time to Maturity 1.07 Years scheduled Islamic Banks or Islamic Windows of
3|5 Conventional Banks as selected by MUFAP.
Total Expense Ratio 0.69%
4|5
Total Expense Ratio (MTD) 0.54% Listing Unlisted
4|5
Total Expense Ratio (FYTD) 0.91% Trustee Central Depository Company Pakistan Limited
Auditor BDO Ebrahim & Co.
Dec'24 Jan'25 % Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Fund Size (PKR Mn) 1,894 1,774 -6.32% Management Co.Rating AM1 (VIS) (09-Jan-2025)
Fund Size excluding FoFs (PKR Mn) 1,894 1,774 -6.32% Fund Stability Rating Not yet Rated
NAV (PKR) 110.9873 111.9772 0.89% Minimum Investment Rs. 500/- initial & subsequent
Leverage Nil Nil Nil Load Upto 1.5% (Front-end) | Up to 1.5 % (Back-end)
(Currently Nil)
1 Simple Annualized Return | 2 Morning Star Return Dealing Days Monday to Friday
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate
3 As per NBFC Regulations, 2008, this includes 0.22% representing government levy, SECP fee and sales tax.
Cut off times 3:00 PM | 4:00 PM (Fri)
Selling & Marketing Expense PKR 10.85 mn. Pricing Mechanism Forward
4 As per MUFAP standardized template, for MTD & FYTD, this includes 0.23% & 0.22% respectively, representing government Management Fee Up to 10% of net income subject to a minimum
levy, SECP fee and sales tax.
5 Annualized.
of 0.25% p.a maximum of Up to 1.5% p.a
Note: Benchmark has been changed effective from October 2016; Previously Average of 3 Months Placement Rate of 3 Islamic
Banks (with AA or better banks) Fund Manager Syed Sheeraz Ali (Shariah Compliant Fixed
^ Avg. Peer Group Return for Jan'25 was 10.21% Income Specialist)
Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar,
CFA | Mubeen Ashraf |
Portfolio Quality (% of Total Assets) Muhammad Waseem, CFA | Syed Sheeraz Ali
|Ghufran Ahmed
* Actual Management Fees charged for the month is 0.25% based on average net assets (annualized).

AAA,64.71% 0.6471 Value of 100 Rupees invested 12 month ago

125

120
46.18% Governme
Government Securities,46.18% 46.18%
AAA,5.83% 5.83% AAA,5.83% 5.83% 115
AA,45.24 45.24% AA,45.24 45.24%
110
Others,2.7 2.75% Others,2.7 2.75%
Government Securities,46.18% AAA,5.83% AA,45.24% Others,2.75%
105

100

Return vs Old Benchmark as at 31 January, 2025

Since
FYTD Jan'25 Inception Return vs Benchmark
CAGR 3 Months 6 Months 1 Year 3 Years 5 Years Since
AIIF (p.a) 20.35% 10.50% 19.50% Inception
Old Benchmark 9.65% 7.60% 9.78% AIIF 13.31% 17.95% 20.08% - - 19.50%
Benchmark 9.86% 10.18% 10.62% - - 10.00%
Old Benchmark 8.37% 9.43% 10.25% - - 9.78%
Simple Annualized Returns | Morningstar Returns for period more than one year

Asset Allocation (% of Total Assets)

Nov'24 Dec'24 Jan'25
Cash 75.97% 70.08% 51.06%
GOP Ijarah Sukuk 22.14% 27.99% 46.17%
Others 1.87% 1.93% 2.77%
*Weighted Average time to Maturity 1.1 year for GIS

Monthly Yield *
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AIIF 17.95% 18.05% 17.33% 17.14% 15.04% 31.73% 16.04% 20.91% 27.44% 13.32% 15.67% 10.50% 10.50%
Benchmark 11.22% 11.20% 11.10% 11.04% 11.00% 10.91% 10.86% 10.70% 9.94% 9.47% 8.80% 12.01% 12.01%
* Simple Annualized Returns | For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR

Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital markets.
These may go up or down based on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean that it is
responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.

MUFAP's Recommended Format Page - 7

 Al-Ameen Islamic Aggressive Income Fund
Fund Managers Report - January 2025

Investment Objective
AIAIF is an open-end Shariah Compliant Aggressive Fixed Income Fund which invests in medium to long-term income instruments as well as short-tenor money market instruments to generate superior,
long-term, risk-adjusted returns while preserving capital over the long-term.

Fund Performance Fund Information

AIAIF
1
AIAIF
2 Benchmark Risk Profile Medium risk of principal Erosion
FY-YTD (p.a.) 33.74% 36.04% 13.48% Fund Type Open End Fund
January 2025 (p.a.) 9.62% 10.05% 11.74% Fund Categorization Shariah Compliant Aggressive Fixed Income
Since Inception (CAGR) 8.49% 8.10% Launch Date 20-Oct-2007
Standard Deviation* 7.68% 1.93% Benchmark 90% 12M PKISRV + 10% 12M Average of the highest
Sharpe Ratio** 1.55 -1.58 rates on savings account of 3 AA rated scheduled Islamic
Weighted Avg Time to Maturity 1.87 Years Banks or Islamic Windows of Conventional Banks as
3|5 selected by MUFAP.
Total Expense Ratio 1.58%
4|5
Total Expense Ratio (MTD) 1.42% Listing Pakistan Stock Exchange (PSX)
4|5
Total Expense Ratio (FYTD) 1.59% Trustee Central Depository Company Pakistan Limited
Auditor A.F. Ferguson & Co.
Dec'24 Jan'25 % Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Fund Size (PKR Mn) 624 783 25.47% Management Co.Rating AM1 (VIS) (09-Jan-2025)
NAV (PKR) 119.8670 120.8459 0.82% Fund Stability Rating A+ (f) (VIS) (09-Jan-2025)
Leverage Nil Nil Nil Minimum Investment Rs. 500/- Initial | Subsequent
Load Upto 1% (Growth | Income Units) (Front-end) |
Nil (Back-end)
1 Simple Annualized Return | 2 Morning Star Return Dealing Days Monday to Friday
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate
3 As per NBFC Regulations, 2008, this includes 0.24% representing government levy, SECP fee and sales tax.
Cut off times 3:00 PM | 4:00 PM (Fri)
Selling & Marketing Expense PKR 0.03 mn. Pricing Mechanism Forward
4 As per MUFAP standardized template, for MTD & FYTD, this includes 0.24% & 0.24% respectively, representing government Management Fee Up to 2.5% of daily net assets not to exceed max.
levy, SECP fee and sales tax.
5 Annualized.
TER regulatory limit.
Fund Manager Syed Sheeraz Ali (Shariah Compliant Fixed Income
^ Avg. Peer Group Return for Jan'25 was 12.71% Specialist)
Investment Committee
Asif Ali Qureshi, CFA | Syed Suleman Akhtar,
CFA | Mubeen Ashraf | Muhammad Waseem,
CFA | Syed Sheeraz Ali | Ghufran Ahmed

Portfolio Quality (% of Total Assets) * Actual Management Fees charged for the month is 1.00% based on average net assets (annualized).
Governme 39.69% Government Securities,39.69%
39.69%
AAA,9.70 9.70% AAA,9.70% 9.70%
AA+,1.23 1.23% AA+,1.23% 1.23%
AA,37.98 37.98% AA,37.98% 37.98% Value of 100 Rupees invested 12 months ago
AA-,5.55% 5.55% AA-,5.55% 5.55% 140
A+,0.02% 0.02% A+,0.02% 0.02%
130
Others,5.8 5.83% Others,5.83% 5.83%
120
#N/A #N/A
Government Securities,39.69% AAA,9.70%
#N/A #N/A AA+,1.23% 110
AA,37.98% AA-,5.55%
#N/A #N/A A+,0.02%
100
Others,5.83%
90

80
Return vs Benchmark
Since
3 Months 6 Months 1 Year 3 Years 5 Years
Inception
AIAIF (p.a.) 47.63% 35.68% 29.56% 21.37% 14.75% 8.49%
Benchmark 11.65% 13.09% 14.62% 12.56% 9.87% 8.10% Asset Allocation (% of Total Assets)
Old Benchmark 10.08% 12.31% 14.23% 12.42% 9.79% 8.08% Nov'24 Dec'24 Jan'25
Simple Annualized Returns | Morningstar Returns for period more than one year Cash 4.98% 18.03% 44.83%
GOP Ijarah Sukuk 70.04% 49.26% 39.35%
Top Ten Sukuk Holdings (as % of Total Assets) Term Finance Certificates/ Sukuks 15.94% 11.95% 9.65%
SUKUK-DIB BANK (02-DEC-22) 5.55% Others 9.04% 20.75% 5.83%
SUKUK-K-ELECTRIC (01-NOV-22) 3.22% * Weighted Average time to Maturity 1.24 year for GIS
Sukuk-K-Electric (03-Aug-20) 0.88% Return vs Old Benchmark as at 31 January, 2025
Since
FYTD Jan'25 Inception
CAGR
AIAIF (p.a) 33.74% 9.62% 8.49%
Old Benchmark 12.81% 7.10% 8.08%

Monthly Yield *
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AIAIF (p.a.) 18.05% 19.14% 17.42% 17.89% 23.03% 18.84% 15.41% 25.41% 21.84% 21.38% 108.07% 9.62% 9.62%
Benchmark 16.25% 16.25% 16.25% 16.24% 16.25% 15.80% 15.12% 14.57% 13.90% 12.72% 10.51% 11.74% 11.74%
* Simple Annualized Returns | For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR
Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital markets.
These may go up or down based on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean that it is
responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.

MUFAP's Recommended Format Page - 8

 Al-Ameen Islamic Aggressive Income Plan-I
Fund Managers Report - January 2025

Investment Objective
The “Al-Ameen Islamic Aggressive Income Plan-I (AIAIP-I)” is an Allocation Plan under “Al-Ameen Islamic Aggressive Income Fund (AIAIF)” with an objective to generate competitive, long-term, risk
adjusted returns while aiming to preserve capital over the long term.

Fund Performance Fund Information

AIAIP-I1 AIAIP-I2 Benchmark Risk Profile Medium
FY-YTD (p.a.) 22.09% 23.08% 13.48% Fund Type Open End Fund
January 2025 (p.a.) 26.26% 29.66% 11.74% Fund Categorization Shariah Compliant Aggressive Fixed Income
Since Inception (CAGR) 13.11% 9.87% Launch Date 16-Apr-2020
Standard Deviation* 1.93% 1.93% Benchmark 90% 12M PKISRV + 10% 12M Average of the highest
Sharpe Ratio** 2.37 -1.58 rates on savings account of 3 AA rated scheduled
Weighted Avg Time to Maturity 1 Day Islamic Banks or Islamic Windows of Conventional
Banks as selected by MUFAP.
Total Expense Ratio 3 | 5 1.22%
Total Expense Ratio (MTD) 4 | 5 4.00% Listing Pakistan Stock Exchange (PSX)
Total Expense Ratio (FYTD) 4 | 5 1.62% Trustee Central Depository Company Pakistan Limited
Auditor A.F. Ferguson & Co.
Dec'24 Jan'25 % Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Fund Size (PKR Mn) 431 4 -99.02% Management Co.Rating AM1 (VIS) (09-Jan-2025)
NAV (PKR) 120.1959 122.8771 2.23% Fund Stability Rating A+ (f) (VIS) (09-Jan-2025)
Leverage Nil Nil Nil Minimum Investment Rs. 500/- Initial | Subsequent
1 Simple Annualized Return | 2 Morning Star Return Load Upto 0.25% (Front-end) | Nil (Back-end)
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate
3 As per NBFC Regulations, 2008, this includes 0.17% representing government levy, SECP fee and sales tax.
Dealing Days Monday to Friday
Selling & Marketing Expense PKR 0.00 mn. Cut off times 3:00 PM | 4:00 PM (Fri)
4 As per MUFAP standardized template, for MTD & FYTD, this includes 0.20% & 0.17% respectively, representing Pricing Mechanism Forward
government levy, SECP fee and sales tax.
5 Annualized.
Management Fee Up to 2.5% of daily net assets not to exceed
max. TER regulatory limit.
^ Avg. Peer Group Return for Jan'25 was 12.71% Fund Manager Ghufran Ahmed
Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar,
CFA | Mubeen Ashraf |
Muhammad Waseem, CFA | Syed Sheeraz Ali
Portfolio Quality (% of Total Assets) |Ghufran Ahmed
AA+,0.01 0.01% AA+,0.01% 0.01% * Actual Management Fees charged for the month is 0.60% based on average net assets (annualized).
AA,8.82% 8.82% AA,8.82% 8.82%
A+,4.84% 4.84% A+,4.84% 4.84%
Others,86. 86.33% Others,86.33%86.33%
#N/A #N/A
#N/A #N/A
#N/A #N/A
#N/A #N/A Value of 100 Rupees invested 12 months ago
#N/A #N/A 125
AA+,0.01% AA,8.82% A+,4.84% Others,86.33%
#N/A #N/A 120
115
110
Return vs Benchmark 105
Since
3 Months 6 Months 1 Year 3 Years 5 Years 100
Inception
95
AIAIP-I (p.a.) 20.10% 21.11% 22.24% 16.16% - 13.11%
90
Benchmark 11.65% 13.09% 14.62% 12.56% 9.87% 9.87%
Old Benchmark 10.08% 12.31% 14.23% 12.42% 0.00% 9.79%
Simple Annualized Returns | Morningstar Returns for period more than one year

Return vs Old Benchmark as at 31 January, 2025 Asset Allocation (% of Total Assets)

Since Nov'24 Dec'24 Jan'25
FYTD Jan'25 Inception Cash 29.23% 29.92% 13.72%
CAGR GOP Ijarah Sukuk 36.41% 36.28% 0.00%
AIAIP-I (p.a) 22.09% 26.26% 13.11% Term Finance Certificates/ Sukuks 28.27% 28.00% 0.01%
Old Benchmark 12.81% 7.10% 9.79% Others 6.08% 5.79% 86.27%

Monthly Yield *
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AIAIP-I (p.a.) 17.89% 18.82% 17.74% 19.03% 22.77% 25.24% 21.84% 23.27% 17.06% 18.50% 14.52% 26.26% 26.26%
Benchmark 16.25% 16.25% 16.25% 16.24% 16.25% 15.80% 15.12% 14.57% 13.90% 12.72% 10.51% 11.74% 11.74%
* Simple Annualized Returns | For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR
Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital
markets. These may go up or down based on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean
that it is responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.

MUFAP's Recommended Format Page - 9

Al-Ameen Islamic Asset Allocation Fund
Fund Managers Report - January 2025

Investment Objective
The investment objective of the Fund is to earn competitive riba free return by investing in various shariah compliant asset classes/instruments based on the market outlook.

Fund Performance Fund Information

AIAAF Benchmark Risk Profile Medium risk of principal Erosion
FY-YTD 23.85% 18.84% Fund Type Open End Fund
January 2025 -1.54% -0.74% Fund Categorization Islamic Asset Allocation
Since Inception (CAGR)*** 11.96% 10.48% Launch Date 10-Dec-2013
Standard Deviation* 9.04% 8.59% Benchmark Weighted Avg. of 3M deposit rates of 3 AA rated
Sharpe Ratio** 2.24 1.77 & 6M avg. deposit rates of 3 A rated Islamic Banks
Total Expense Ratio 1 | 2 2.21% or Islamic windows of Conventional Banks as
Total Expense Ratio (MTD) 3 | 4 3.71% selected by MUFAP and KMI-30 Index based on
3|4
Total Expense Ratio (FYTD) 3.77% actual proportion of the scheme

Listing Pakistan Stock Exchange (PSX)

Dec'24 Jan'25 % Trustee Central Depository Company Pakistan Limited
Fund Size (PKR Mn) 1,508 1,461 -3.15% Auditor A.F. Ferguson & Co.
NAV (PKR) 197.0662 194.0392 -1.54% Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Leverage Nil Nil Nil Management Co.Rating AM1 (VIS) (09-Jan-2025)
Minimum Investment Rs. 10,000/- initial & subsequent
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate Load Upto 3% (Front-end) | Nil (Back-end)
***Returns have been annualized using Morningstar Methodology
1 As per NBFC Regulations, 2008, this includes 0.26% representing government levy, SECP fee and sales tax.
Dealing Days Monday to Friday
Selling & Marketing Expense PKR 5.19 mn. | 2 Absolute. Cut off times 3:00 PM | 4:00 PM (Fri)
3 As per MUFAP standardized template, for MTD & FYTD, this includes 0.44% & 0.44% respectively, representing government Pricing Mechanism Forward
levy, SECP fee and sales tax.
4 Annualized.
Management Fee 2% p.a.
Note: Benchmark has been changed effective from 6 December 2017; Previously Average of 6M KIBOR rate + 2% Fund Manager Muhammad Waseem, CFA (Shariah Compliant
Equity Specialist), Syed Sheeraz Ali (Shariah
Compliant Fixed Income Specialist)

Equity Sector Allocation (% of Total Assets) Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar,
CFA | Mubeen Ashraf |
Mubashir Anis, CFA | Muhammad
Waseem, CFA | Irfan Nepal | Syed Sheeraz
* Actual Management Fees charged for the month is 2.0% based on average net assets (annualized).

Fertilizer, 0.049031 Fertilizer,4.90% 4.90% Value of 100 Rupees invested 12 months ago
Power 2.49% Power Generation2.49%
& Distribution,2.49% 150
Oil & Gas
Fertilizer,4.90% 3.46% Oil & Gas Marketing
3.46%Companies,3.46%
Power Generation & Distribution,2.49% 140
Others,13. 13.09% Others,13.09%13.09% 130
Oil & Gas Marketing Companies,3.46% Others,13.09%
Cement,5. 5.95% Cement,5.95% 5.95% 120
Cement,5.95% Oil & Gas Exploration Companies,9.39% 110
Oil & Gas 9.39% Oil & Gas Exploration
9.39%Companies,9.39%
100
90
Asset Allocation (% of Total Assets)
80
Nov'24 Dec'24 Jan'25
Cash 22.31% 32.82% 30.24%
Equities 40.05% 38.14% 39.28%
GOP Ijarah Sukuk 29.26% 23.83% 24.43%
Term Finance Certificates/ Sukuks 3.93% 3.36% 3.47%
Others 4.46% 1.85% 2.58% Top Sukuk Holdings (% of Total Assets)
* Weighted Average time to Maturity 0.42 year for GIS SUKUK-DIB BANK (02-DEC-22) 2.93%
Sukuk-Javedan Corporation Limited (04-Oct-18) 0.54%
Top Ten Equity Holdings (% of Total Assets)
Oil & Gas Development Co. Ltd. 4.74% The Hub Power Co. Ltd. 2.49% Return vs Benchmark
Pakistan Petroleum Ltd. 4.20% Kohat Cement Co. Ltd. 1.66% Since
3 Months 6 Months 1 Year 3 Years 5 Years
Lucky Cement Ltd. 3.75% Service Global Footwear Ltd. 1.35% Inception
Fauji Fertilizer Co. Ltd. 3.51% Systems Ltd. 1.32% AIAAF 12.94% 24.82% 37.90% 82.02% 111.46% 252.50%
Pakistan State Oil Co. Ltd. 3.39% Meezan Bank Ltd. 1.27% Benchmark 13.54% 19.37% 32.87% 70.02% 92.88% 203.78%
Simple Annualized Returns | Morningstar Returns for period more than one year

Disclosure of Excess Exposure (% of Net Asset) as at January 31, 2025

Name of Investment Exposure Type % of Issue Limit Excess
Listed Equity
Total equity exposure 40.65% 40.00% 0.65%
Exposure

Monthly Yield
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AIAAF 1.92% 1.75% 2.75% 3.44% 1.01% -0.78% 1.74% 2.05% 6.45% 6.71% 7.48% -1.54% -1.54%
Benchmark 2.76% 1.92% 3.10% 2.69% 0.83% -0.44% 1.16% 0.52% 3.39% 5.02% 8.92% -0.74% -0.74%
For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR
Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital markets.
These may go up or down based on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean that it is
responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.

MUFAP's Recommended Format Page - 10

Al-Ameen Islamic Energy Fund
Fund Managers Report - January 2025

Investment Objective
The "Al-Ameen Islamic Energy Fund" shall aim to provide investors with long term capital growth from an actively managed portfolio of Shariah Compliant listed equities belonging to the Energy Sectors.

Fund Performance Fund Information

AIEF Benchmark Risk Profile High risk of principal Erosion
FY-YTD 63.11% 36.03% Fund Type Open End Fund
January 2025 -11.52% -3.73% Fund Categorization Islamic Equity
Since Inception (CAGR)*** 22.01% 21.12% Launch Date 13-Dec-2019
Standard Deviation* 28.29% 21.76% Benchmark KMI-30 Index
Sharpe Ratio** 2.30 2.22 Listing Pakistan Stock Exchange (PSX)
Expense Ratio 1 | 2 3.05% Trustee Central Depository Company Pakistan Limited
3|4
Expense Ratio (MTD) 4.95% Auditor BDO Ebrahim & Co.
3|4
Expense Ratio (FYTD) 5.25% Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Price-to-Earning Ratio ^^^ 4.34x - Management Co.Rating AM1 (VIS) (09-Jan-2025)
Dividend Yield ^^^ 6.10% - Minimum Investment Rs. 500 - initial & subsequent
Dec'24 Jan'25 % Load Upto 3% (Front-end), Nil (Back-end)
Fund Size (PKR Mn) 4,420 2,797 -36.74% Dealing Days Monday to Friday
NAV (PKR) 296.9061 262.6964 -11.52% Cut off times 3:00 PM | 4:00 PM (Fri)
Leverage Nil Nil Nil Pricing Mechanism Forward
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate Management Fee* Up to 3% p.a.
***Returns have been annualized using Morningstar Methodology Fund Manager Muhammad Waseem, CFA (Shariah Compliant
1 As per NBFC Regulations, 2008, this includes 0.43% representing government levy, SECP fee and sales tax. Equity Specialist)
Selling & Marketing Expense PKR 0.99 mn. | 2 Absolute
3 As per MUFAP standardized template, for MTD & FYTD, this includes 0.71% & 0.72% respectively, representing government Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar, CFA |
levy, SECP fee and sales tax. Mubeen Ashraf | Mubashir Anis, CFA | Muhammad
4 Annualized. Waseem, CFA |Irfan Nepal | Syed Sheeraz Ali
^^^ Benchmark figures are for KMI-30 Index only.

* Actual Management Fees charged for the month is 3.00% based on average net assets (annualized).

Equity Sector Allocation (% of Total Assets)

Oil & Gas 34.11%Oil & Gas Exploration
34.11%Companies,34.11%
Refinery,1 17.48%Refinery,17.48%17.48% Value of 100 Rupees invested 12 months ago
Oil & Gas 18.16%Oil & Gas Marketing
18.16%Companies,18.16% 230
Power 17.76%Power Generation
17.76%
& Distribution,17.76% 210
#N/A #N/A 190
#N/A #N/A 170
#N/A #N/A 150
130
#N/A #N/A
Oil & Gas Exploration Companies,34.11% 110
#N/A #N/ARefinery,17.48%
90
#N/A
Oil & Gas Marketing Companies,18.16%
#N/APower Generation & Distribution,17.76% 70

Asset Allocation (% of Total Assets)

Nov'24 Dec'24 Jan'25
Cash 7.07% 5.60% 9.61%
Equities 89.11% 93.25% 87.51%
Others 3.82% 1.15% 2.88%

Top Ten Holdings (% of Total Assets) Return vs Benchmark

Pakistan State Oil Co. Ltd. 17.81% Attock Petroleum Ltd. 0.32% Since
3 Months 6 Months 1 Year 3 Years 5 Years
The Hub Power Co. Ltd. 17.70% K-Electric Ltd. 0.06% Inception
Attock Refinery Ltd. 17.48% Sui Northern Gas Pipelines Ltd. 0.03% AIEF 32.03% 68.38% 82.87% 197.69% 172.80% 178.12%
Oil & Gas Development Co. Ltd. 17.47% Benchmark 28.62% 39.90% 65.82% 133.69% 156.40% 167.83%
Pakistan Petroleum Ltd. 16.63% Simple Annualized Returns | Morningstar Returns for period more than one year

Monthly Yield
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AIEF 0.91% 0.55% 5.96% 3.25% 0.99% -3.12% 4.43% -3.21% 26.17% 17.82% 26.66% -11.52% -11.52%
Benchmark 4.96% 3.23% 6.30% 5.30% 0.51% -2.77% 1.52% -0.03% 7.18% 11.11% 20.23% -3.73% -3.73%
For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR
Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital
markets. These may go up or down based on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean
that it is responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.

MUFAP's Recommended Format Page - 11

Al-Ameen Shariah Stock Fund
Fund Managers Report - January 2025

Investment Objective
ASSF is an open-end Equity Fund, investing primarily in Shariah compliant equities. The Fund seeks to maximize total returns and outperform its benchmark by investing in a combination of securities
offering long term capital gains and dividend yield potential.

Fund Performance Fund Information

ASSF Benchmark Risk Profile High risk of principal Erosion
FY-YTD 45.64% 36.03% Fund Type Open End Fund
January 2025 -4.86% -3.73% Fund Categorization Islamic Equity
Since Inception (CAGR)*** 16.04% 15.37% Launch Date 24-Dec-2006
Standard Deviation* 22.21% 21.76% Benchmark KMI-30 Index
Sharpe Ratio** 2.54 2.22 Listing Pakistan Stock Exchange (PSX)
Beta* 0.95 1.00 Trustee Central Depository Company Pakistan Limited
Alpha*^ 8.34% Auditor Yousuf Adil, Chartered Accountants
R-Square^^ 87.93% Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Value at Risk -1.50% -1.68% Management Co.Rating AM1 (VIS) (09-Jan-2025)
Expense Ratio 1 | 2 2.78% Minimum Investment Rs. 500 - initial & subsequent
Expense Ratio (MTD) 3 | 4 4.60% Load Upto 2.5% (Front-end), Nil (Back-end)
Expense Ratio (FYTD) 3 | 4 4.74% Dealing Days Monday to Friday
Price-to-Earning Ratio^^^ 6.45x - Cut off times 3:00 PM | 4:00 PM (Fri)
Dividend Yield^^^ 5.79% - Pricing Mechanism Forward
Dec'24 Jan'25 % Management Fee* Up to 3% p.a.
Fund Size (PKR Mn) 17,676 16,576 -6.22% Fund Manager Muhammad Waseem, CFA (Shariah Compliant
NAV (PKR) 373.2400 355.0900 -4.86% Equity Specialist)
Leverage Nil Nil Nil Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar, CFA |
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate | *^ Alpha measures the risk adjusted Mubeen Ashraf | Mubashir Anis, CFA | Muhammad
performance of the fund vs. the benchmark. | ^^ R-Square measures the correlation between the benchmark and the fund.
Waseem, CFA |Irfan Nepal | Syed Sheeraz Ali
| ^^^ Benchmark figures are for KMI-30 Index only. | ***Returns have been annualized using Morningstar Methodology
1 As per NBFC Regulations, 2008, this includes 0.36% representing government levy, SECP fee and sales tax.
Selling & Marketing Expense PKR 38.64 mn. | 2 Absolute * Actual Management Fees charged for the month is 3.00% based on average net assets (annualized).
3 As per MUFAP standardized template, for MTD & FYTD, this includes 0.60% & 0.61% respectively, representing Reconstitution of the Fund on 18th July 2012 from "Islamic Balanced to Islamic Equity"
government levy, SECP fee and sales tax.
4 Annualized.

^ Avg. Peer Group Return for Jan'25 was -9.81%

Equity Sector Allocation (% of Total Assets) Value of 100 Rupees invested 12 months ago
Cement, 14.95%Cement, 14.95% 14.95% 230
Others, 30.73%Others, 30.73%30.73% 210
Oil & Gas 24.10%Oil & Gas Exploration
24.10%Companies, 24.10% 190
Fertilizer, 11.13%Fertilizer, 11.13%
11.13% 170
Oil & Gas 8.33%Oil & Gas Marketing
8.33%Companies, 8.33% 150
130
Power 6.28%Power Generation 6.28%
& Distribution, 6.28%
110
#N/A #N/A
90
#N/A #N/A
70
Cement, 14.95% #N/A #N/AOthers, 30.73%
#N/A
Oil & Gas Exploration Companies, 24.10% #N/AFertilizer, 11.13%
Oil & Gas Marketing Companies, 8.33% Power Generation & Distribution, 6.28%

Top Ten Holdings (% of Total Assets) Return vs Benchmark

Oil & Gas Development Co. Ltd. 12.68% The Hub Power Co. Ltd. 6.28% Since
3 Months 6 Months 1 Year 3 Years 5 Years
Pakistan Petroleum Ltd. 10.86% Kohat Cement Co. Ltd. 4.68% Inception
Fauji Fertilizer Co. Ltd. 9.11% Meezan Bank Ltd. 4.03% ASSF 27.50% 51.69% 74.16% 128.85% 165.19% 1381.72%
Pakistan State Oil Co. Ltd. 8.28% Service Global Footwear Ltd. 3.19% Benchmark 28.62% 39.90% 65.82% 133.69% 156.40% 1233.25%
Lucky Cement Ltd. 7.91% Engro Holding Ltd. 3.10% Simple Annualized Returns | Morningstar Returns for period more than one year
Simple Annualized Returns | Morningstar Returns for period more than one year
Asset Allocation (% of Total Assets)
Nov'24 Dec'24 Jan'25
Cash 4.37% 3.55% 3.79%
Equities 94.80% 95.90% 95.52%
Others 0.83% 0.55% 0.69%

Monthly Yield
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
ASSF 2.94% 2.98% 4.94% 6.64% 0.80% -3.99% 2.02% 2.02% 14.31% 15.08% 16.45% -4.86% -4.86%
Benchmark 4.96% 3.23% 6.30% 5.30% 0.51% -2.77% 1.52% -0.03% 7.18% 11.11% 20.23% -3.73% -3.73%
For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR
Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital
markets. These may go up or down based on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean
that it is responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.

MUFAP's Recommended Format Page - 12

 Al-Ameen Islamic Retirement Savings Fund
Fund Managers Report - January 2025

Investment Objective
AIRSF is a Shariah-compliant open-end fund that aims to provide a secure source of savings and regular income after retirement to the Participants. The Participants would contribute to the Fund during
their working life and would typically withdraw from the Fund on or after retirement.

Fund Performance Fund Information

Debt Money Market Equity Risk Profile Principal at Risk based on allocation
FY-YTD 16.88% p.a. 18.63% p.a. 49.78% Fund Type Open End Fund
January 2025 7.27% p.a. 7.68% p.a. -4.39% Fund Categorization Voluntary Pension Scheme
Simple annualization methodology used for Debt and Money Market Sub-Fund Launch Date 19-May-2010
FY-YTD 17.46% p.a. 19.33% p.a. 49.78% Benchmark N/A
January 2025 7.52% p.a. 7.95% p.a. -4.39% Trustee Central Depository Company Pakistan Limited
Since Inception (CAGR)-(p.a.) 8.52% 8.33% 22.10% Auditor Yousuf Adil, Chartered Accountants
Returns have been annualized using Morningstar Methodology Pension Manager Rating AM1 (VIS) (09-Jan-2025)
Fund Size (PKR Mn) 2,088 3,623 2,848 Minimum Investment Rs. 500/- Initial | Subsequent
NAV (PKR) 333.844 325.2344 1897.814 Load Upto 3% (Front-end), Nil (Back-end)
1|2
Expense Ratio 1.97% 1.95% 1.31% Dealing Days Monday to Friday
3
Total Expense Ratio (MTD) 1.90% 1.89% 2.47% Cut off times 3:00 PM | 4:00 PM (Fri)
3
Total Expense Ratio (FYTD) 1.97% 1.95% 2.25% Pricing Mechanism Forward
Leverage Nil Nil Nil Management Fee Up to 1.5% p.a. (AIRSF-DSF); Up to 1.5% p.a.
1 As per NBFC Regulations, 2008, this includes 0.26% (AIRSF-DSF),0.27% (AIRSF-MMSF),0.17% (AIRSF-ESF) representing (AIRSF-MMSF); Up to 3% p.a. (AIRSF-ESF)
government levy, SECP fee and sales tax. | 2 Annualized for AIRSF-DSF & AIRSF-MMSF and absolute for AIRSF-ESF. | 3 As per
MUFAP standardized template, for MTD, this includes 0.28%(AIRSF-DSF), 0.28%(AIRSF-MMSF), 0.34%(AIRSF-ESF), & for FYTD,
Fund Manager Muhammad Waseem, CFA (Shariah Compliant
this includes 0.26%(AIRSF-DSF), 0.27%(AIRSF-MMSF), 0.29%(AIRSF-ESF), representing government levy, SECP fee and sales tax. Equity Specialist), Syed Sheeraz Ali (Shariah
| 4 Annualized. Compliant Fixed Income Specialist)
Top Ten Equity Holdings (% of Total Assets) Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar,
Oil & Gas Development Co. Ltd. 10.90% The Hub Power Co. Ltd. 6.02% CFA | Mubeen Ashraf |
Lucky Cement Ltd. 9.71% Kohat Cement Co. Ltd. 4.52% Mubashir Anis, CFA | Muhammad Waseem,
Pakistan State Oil Co. Ltd. 8.34% Systems Ltd. 3.50% CFA |Irfan Nepal | Syed Sheeraz Ali
Fauji Fertilizer Co. Ltd. 8.33% Engro Fertilizers Ltd. 3.33% Actual Management Fees charged for the month is 1.50% for AIRSF-DSF, 1.50% for AIRSF MMSF and 1.50% for
AIRSF-ESF based on average net assets (annualized)
Pakistan Petroleum Ltd. 7.72% Meezan Bank Ltd. 3.02%
AIRSF-DSF Asset Allocation (% of Total Assets)
Nov'24 Dec'24 Jan'25
Cash 36.45% 39.00% 32.82%
Placements with Banks 0.00% 0.00% 7.12% AIRSF-ESF Asset Allocation (% of Total Assets)
GOP Ijarah Sukuk 55.00% 54.45% 53.92% Nov'24 Dec'24 Jan'25
Term Finance Certificates/ Sukuks 3.91% 3.74% 3.86% Cash 2.87% 2.86% 2.60%
Others 3.39% 2.81% 2.28% Equities 95.10% 94.61% 94.56%
AIRSF-MMSF Asset Allocation (% of Total Assets) Others 2.04% 2.53% 2.84%
Nov'24 Dec'24 Jan'25
Cash 24.41% 26.46% 18.50% Equity Sector Allocation (% of Total Assets)
Placements with Banks 0.00% 0.00% 9.61%
GOP Ijarah Sukuk 62.91% 65.65% 62.96%
Term Finance Certificates/ Sukuks 5.93% 5.76% 5.49% Oil & Gas 19.69% Oil & Gas Exploration
19.69%
Companies,19.69%
Others 2.29% 2.13% 3.44% Cement,1 17.34% Cement,17.34% 17.34%
Return Oil & Gas 8.35% Oil & Gas Marketing8.35%
Companies,8.35%
Since Others,31. 31.19% Others,31.19% 31.19%
3 Months 6 Months 1 Year 3 Years 5 Years
Inception Fertilizer, 11.96% Fertilizer,11.96% 11.96%
AIRSF-DSF1 11.58% 16.19% 18.42% 17.03% 12.31% 8.52% Oil & GasPower 0.060239 Power Generation
Exploration Companies,19.69% &
6.02%
Distribution,6.02%
Cement,17.34%
AIRSF-ESF2 29.35% 55.09% 80.68% 139.07% 189.25% 1797.81% Oil & Gas Marketing Companies,8.35%
#N/A #N/A
Others,31.19%
AIRSF-MSF1 13.70% 18.38% 19.68% 17.41% 12.54% 8.33% #N/A #N/A
Fertilizer,11.96% Power Generation & Distribution,6.02%
1 Simple Annualized Returns | Morningstar Returns for period more than one year #N/A #N/A
2 Returns are on absolute basis

Value of 100 Rupees invested (medium volatility allocation*) 12 months ago Sukuk Holdings - DSF (% of Total Assets)
160 SUKUK-DIB BANK (02-DEC-22) 2.10%
SUKUK-K-ELECTRIC (01-NOV-22) 1.22%
140
Sukuk-K-Electric (03-Aug-20) 0.63%
120

100 Sukuk Holdings - MMSF (% of Total Assets)

SUKUK-Pakistan Mobile Communication Ltd. (21-OCT-24) 5.50%
80

* 50% Equity, 40% Debt, 10% Money Market

Monthly Yield
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AIRSF-DSF (p.a)* 16.97% 18.93% 17.98% 17.90% 19.13% 19.42% 18.46% 20.02% 21.15% 13.77% 13.44% 7.27% 7.27%
AIRSF-ESF 2.75% 2.55% 5.49% 7.19% 1.25% -3.42% 2.47% 2.54% 14.10% 15.70% 16.93% -4.39% -4.39%
AIRSF-MMSF (p.a)* 17.64% 19.47% 18.79% 18.21% 18.41% 18.38% 17.46% 18.97% 29.15% 15.75% 17.31% 7.68% 7.68%
* Simple Annualized Returns | For periodic returns as per SECP's SCD Cirular No. 16 of 2014, refer to the end of this FMR
Disclaimer: This publication is for informational purpose only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments and pension in mutual funds are subject to market risks. Past performance is
not necessarily indicative of future results. Please read the Offering Document to understand the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital
markets. These may go up or down based on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean that
it is responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.
MUFAP's Recommended Format Page - 13
Al Ameen Islamic Fixed Return Fund
Al Ameen Islamic Fixed Term Plan I-G
Fund Managers Report - January 2025

Investment Objective
Al Ameen Islamic Fixed Term Plan – 1 (g) is an Allocation Plan under “Al Ameen Islamic Fixed Return Fund” with an objective to earn fixed return (expected) for Unit Holders who held their investment within Plan till
maturity.

Fund Performance Fund Information

AIFTP-I-G¹ AIFTP-I-G² Benchmark Risk Profile Low risk of principal Erosion
FY-YTD (p.a.) 16.71% 17.27% 14.64% Fund Type Open End Fund
January 2025 (p.a.) -1.06% -1.05% 12.84% Fund Categorization Islamic Fixed Return Scheme
Since Inception (CAGR) 19.10% 16.31% Launch Date 29-Dec-2023
Weighted Avg Time to Maturity 55 Days Maturity Date 25-Apr-25
Standard Deviation* 8.08% N/A Benchmark Average of 12 Months PKISRV rates
Sharpe Ratio** 0.18 N/A Listing Unlisted
Total Expense Ratio 3 | 5 1.17% Trustee Central Depository Company Pakistan Limited
Total Expense Ratio (MTD) 4 | 5 1.12%
Total Expense Ratio (FYTD) 4 | 5 1.17% Auditor Yousuf Adil, Chartered Accountants
Dec'24 Jan'25 % Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Fund Size (PKR Mn) 809 808 -0.09% Management Co.Rating AM1 (VIS) (09-Jan-2025)
NAV (PKR) 110.7405 110.6409 -0.09% Fund Stability Rating Not yet Rated
Leverage Nil Nil Nil Minimum Investment Rs. 500/- initial & subsequent
Load Nil (Front-end) | Contingent load shall
commensurate with net loss incurred due to
1 Simple Annualized Return | 2 Morning Star Return
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate
early redemption during subscription period &
3 As per NBFC Regulations, 2008, this includes 0.21% representing government levy, SECP fee and sales tax. life of Plan
Selling & Marketing Expense PKR 0.00 mn. Dealing Days Monday to Friday
4 As per MUFAP standardized template, for MTD & FYTD, this includes 0.21% & 0.21% respectively, representing government levy, SECP fee and
sales tax.
Cut off times 3:00 PM | 4:00 PM (Fri)
5 Annualized. Pricing Mechanism Forward
Management Fee* Up to 2% p.a.
Fund Manager Syed Sheeraz Ali (Shariah Compliant Fixed
Income Specialist)
Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar, CFA
Portfolio Quality (% of Total Assets) | Mubeen Ashraf
|Muhammad Waseem, CFA | Syed Sheeraz Ali |
Fund % Ghufran Ahmed
Governme 99.45% * Actual Management Fees charged for the month is 0.85% based on average net assets (annualized).

AAA,0.44 0.44%
AA,0.06% 0.06% Value of 100 Rupees invested 12 months ago
Others,0.0 0.04% 130

125

120

115
Government Securities,99.45% AAA,0.44% AA,0.06% Others,0.04%
110

105

Asset Allocation (% of Total Assets) 100

Nov'24 Dec'24 Jan'25 95
Cash 0.81% 0.67% 0.51%
90
GOP Ijarah Sukuk 99.15% 99.29% 99.45%
Others 0.03% 0.04% 0.04%
* Weighted Average time to Maturity 0.15 year for GIS

Expected Fixed Rate Return 19.24% Return vs Benchmark

Since
3 Months 6 Months 1 Year 3 Years 5 Years
Inception
AIFTP-I-G 27.01% 16.96% 19.10% - - 19.10%
Benchmark 11.43% 14.09% 16.31% - - 16.31%
Simple Annualized Returns | Morningstar Returns for period more than one year

Monthly Yield *
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AIFTP-I-G - 18.55% 19.27% 19.44% 25.18% 13.98% 26.78% -6.52% -1.08% -1.08% 82.40% -1.06% -1.06%
Benchmark - 18.27% 19.14% 20.55% 19.10% 17.88% 18.44% 19.53% 12.37% 11.99% 9.47% 12.84% 12.84%
* Simple Annualized Returns | For periodic returns as per SECP SCD Cirular No. 16 of 2014, refer to the end of this FMR

Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital markets. These may go up or down based on market
conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean that it is responsible for the liabilities/obligations of UBL Fund Managers Ltd. or
any investment scheme managed by it.

MUFAP's Recommended Format Page - 14

Al Ameen Islamic Fixed Return Fund
Al Ameen Islamic Fixed Term Plan I-M
Fund Managers Report - January 2025

Investment Objective
Al Ameen Islamic Fixed Term Plan – 1 (M) is an Investment Plan under “Al Ameen Islamic Fixed Return Fund” with an objective to earn fixed return (expected) for Unit Holders who held their investment within Plan till
maturity.

Fund Performance Fund Information

AIFTP-I-M¹ AIFTP-I-M² Benchmark Risk Profile Low risk of principal Erosion
FY-YTD (p.a.) 12.96% 13.43% 13.56% Fund Type Open End Fund
January 2025 (p.a.) 9.21% 9.60% 12.84% Fund Categorization Islamic Fixed Return Scheme
Since Inception (CAGR) 13.43% 13.56% Launch Date 16-Aug-2024
Weighted Avg Time to Maturity 73 Days Maturity Date 17-Dec-2027
Standard Deviation* N/A N/A Benchmark Average 40 Months or life of the Plan
Sharpe Ratio** N/A N/A (whichever is lower) PKISRV rates
Total Expense Ratio 3 | 5 0.07% Listing Unlisted
Total Expense Ratio (MTD)
4|5
0.14% Trustee Central Depository Company Pakistan Limited
Total Expense Ratio (FYTD) 4 | 5 0.15%
Dec'24 Jan'25 % Auditor Yousuf Adil, Chartered Accountants
Fund Size (PKR Mn) 362 365 0.80% Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
NAV (PKR) 100.0000 100.0000 0.78%
Leverage Nil Nil Nil Management Co.Rating AM1 (VIS) (09-Jan-2025)
Fund Stability Rating Not yet Rated
Minimum Investment Rs. 500/- initial & subsequent
1 Simple Annualized Return | 2 Morning Star Return
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate
Load Contingent load shall commensurate with net
3 As per NBFC Regulations, 2008, this includes 0.08% representing government levy, SECP fee and sales tax. loss incurred due to to early redemption during
Selling & Marketing Expense PKR 0.00 mn. subscription period & life of plan
4 As per MUFAP standardized template, for MTD & FYTD, this includes 0.08% & 0.08% respectively, representing government levy, SECP fee and
sales tax.
5 Annualized. Dealing Days Monday to Friday
Cut off times 3:00 PM | 4:00 PM (Fri)
Pricing Mechanism Forward
Management Fee* Up to 2% p.a.
Fund Manager Syed Sheeraz Ali (Shariah Compliant Fixed
Portfolio Quality (% of Total Assets) Income Specialist)
Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar,
Fund % CFA | Mubeen Ashraf | Muhammad Waseem,
Governme 0.8263 CFA | Syed Sheeraz Ali | Ghufran Ahmed
AAA,12.56 0.1256
Others,4.8 0.0481 * Actual Management Fees charged for the month is 0.00% based on average net assets (annualized).

Value of 100 Rupees invested since Inception

110

Government Securities,82.63% AAA,12.56% Others,4.81%

105

Asset Allocation (% of Total Assets)

Nov'24 Dec'24 Jan'25 100
Cash 99.45% 12.70% 12.62%
GOP Ijarah Sukuk - 83.53% 82.63%
Others 0.55% 3.77% 4.75%
*Weighted Average time to Maturity 0.20 year for GIS 95

Expected Fixed Rate Return 12.80%

Return vs Benchmark
Since
3 Months 6 Months 1 Year 3 Years 5 Years
Inception
AIFTP-I-M 11.20% - - - - 13.43%
Benchmark 11.43% - - - - 13.56%
Simple Annualized Returns | Morningstar Returns for period more than one year

Monthly Yield *
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AIFTP-I-M - - - - - - 16.13% 15.83% 13.04% 13.10% 11.04% 9.21% 9.21%
Benchmark - - - - - - 18.44% 19.53% 12.37% 11.99% 9.47% 12.84% 12.84%
* Simple Annualized Returns | For periodic returns as per SECP SCD Cirular No. 16 of 2014, refer to the end of this FMR

Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital markets. These may go up or down based on market
conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean that it is responsible for the liabilities/obligations of UBL Fund Managers Ltd. or
any investment scheme managed by it.

MUFAP's Recommended Format Page - 15

Al Ameen Islamic Fixed Return Fund
Al Ameen Islamic Fixed Term Plan I-P
Fund Managers Report - January 2025

Investment Objective
Al Ameen Islamic Fixed Term Plan-I (p) is an Allocation Plan under “Al Ameen Islamic Fixed Return Fund” with an objective to earn fixed return (expected) for Unit Holders who held their investment within Plan till
maturity.

Fund Performance Fund Information

AIFTP-I-P¹ AIFTP-I-P² Benchmark Risk Profile Low risk of principal Erosion
FY-YTD (p.a.) 9.95% 10.43% - Fund Type Open End Fund
January 2025 (p.a.) 9.95% 10.43% - Fund Categorization Islamic Fixed Return Scheme
Since Inception (CAGR) - 10.43% - Launch Date 9-Jan-2025
Weighted Avg Time to Maturity - 84 Days - Maturity Date N/A
Standard Deviation* - 0.44% - Benchmark Average 40 Months or life of the Plan
Sharpe Ratio** - -40.64% - (whichever is lower) PKISRV rates
Total Expense Ratio
3|5
- 0.01% - Listing Unlisted
Total Expense Ratio (MTD) 4 | 5 - 0.12% - Trustee Central Depository Company Pakistan Limited
Total Expense Ratio (FYTD) 4 | 5 - 0.12% -
Dec'24 Jan'25 % Auditor Yousuf Adil, Chartered Accountants
Fund Size (PKR Mn) 100 100 - Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
NAV (PKR) - 503 -
Leverage Nil Nil Nil Management Co.Rating AM1 (VIS) (09-Jan-2025)
Fund Stability Rating Not yet Rated
Minimum Investment Rs. 500/- initial & subsequent
1 Simple Annualized Return | 2 Morning Star Return
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate
Load Nil(Front-end)|Contingent load shall
3 As per NBFC Regulations, 2008, this includes 0.08% representing government levy, SECP fee and sales tax. commensurate with net loss incurred due to to
Selling & Marketing Expense PKR 0.00 mn. early redemption during subscription period &
4 As per MUFAP standardized template, for MTD & FYTD, this includes 0.06% & 0.06% respectively, representing government levy, SECP fee and
sales tax.
life of plan
5 Annualized. Dealing Days Monday to Friday
Cut off times 3:00 PM | 4:00 PM (Fri)
Pricing Mechanism Forward
Management Fee* Up to 2% p.a.
Fund Manager Syed Sheeraz Ali (Shariah Compliant Fixed
Portfolio Quality (% of Total Assets) Income Specialist)
Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar,
Fund % CFA | Mubeen Ashraf | Muhammad Waseem,
Governme 0.9657 CFA | Syed Sheeraz Ali | Ghufran Ahmed
AAA,0.22 0.0022
Others,3.2 0.0321 * Actual Management Fees charged for the month is 0.01% based on average net assets (annualized).

Value of 100 Rupees invested since Inception

110

Government Securities,96.57% AAA,0.22% Others,3.21%

105

Asset Allocation (% of Total Assets)

Nov'24 Dec'24 Jan'25 100
Cash 0.00% 0.00% 0.24%
GOP Ijarah Sukuk 0.00% 0.00% 96.57%
Others 0.00% 0.00% 3.19%
*Weighted Average time to Maturity 0.23 year for GIS 95

Expected Fixed Rate Return

Return vs Benchmark
Since
3 Months 6 Months 1 Year 3 Years 5 Years
Inception
AIFTP-I-P - - - - - 10.43%
Benchmark - - - - - -
Simple Annualized Returns | Morningstar Returns for period more than one year

Monthly Yield *
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AIFTP-I-M - - - - - - - - - - - 9.95% 9.95%
Benchmark - - - - - - - - - - - - -
* Simple Annualized Returns | For periodic returns as per SECP SCD Cirular No. 16 of 2014, refer to the end of this FMR

Disclaimer: This publication is for informational purpose 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 the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital markets. These may go up or down based on market
conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load. Use of name and logo of UBL Bank Ltd as given above does not mean that it is responsible for the liabilities/obligations of UBL Fund Managers Ltd. or
any investment scheme managed by it.

MUFAP's Recommended Format Page - 16

Al Ameen Voluntary Pension Fund KPK
Fund Managers Report - January 2025

Investment Objective
To provide a secure source of retirement savings and regular income after retirement to the Employee(s)

Fund Performance Fund Information

AIKPK-MMSF¹ AIKPK-MMSF² Risk Profile Low risk of principal Erosion
FY-YTD (p.a.) 11.76% 12.04% Fund Type Open End - Voluntary Pension Fund
January 2025 (p.a.) 8.81% 9.18% Fund Categorization Voluntary Pension Scheme
Since Inception (CAGR) 16.27% Launch Date 14-Dec-2023
Weighted Avg Time to Maturity 201 Days Benchmark N/A
Standard Deviation* 0.57% Listing Pakistan Stock Exchange (PSX)
Sharpe Ratio** -4.29 Trustee Central Depository Company Pakistan Limited
Total Expense Ratio 3 | 5 1.06%
Total Expense Ratio (MTD) 4 | 5 0.29% Auditor BDO Ebrahim & Co.
Total Expense Ratio (FYTD) 4 | 5 1.11% Shariah Advisory Council Mufti Hassaan Kaleem & Mufti Najeeb Khan
Dec'24 Jan'25 Management Co.Rating AM1 (VIS) (09-Jan=2025)
Fund Size (PKR Mn) 72 72 Fund Stability Rating Not yet Rated
NAV (PKR) 117.7684 118.6499 Minimum Investment Rs. 1,000 - initial & subsequent
Leverage Nil Nil Load Nill (Front-end) | Nil (Back-end)
Dealing Days Monday to Friday
Cut off times 3:00 PM | 4:00 PM (Fri)
1 Simple Annualized Return | 2 Morning Star Return
* 12m Trailing | ** 12m Trailing, 3M PKRV yield is used as a risk-free rate
Pricing Mechanism Forward
3 As per NBFC Regulations, 2008, this includes 0.15% representing government levy, SECP fee and sales tax. Management Fee* Up to 0.75% p.a including Govt. levies without
Selling & Marketing Expense PKR 0.00 mn. insurance and upto 1% including
4 As per MUFAP standardized template, for MTD & FYTD, this includes 0.15% & 0.15% respectively, representing government levy, SECP fee and
sales tax.
insurance/takaful (MMSF)
5 Annualized. Fund Manager Muhammad Waseem, CFA (Shariah Compliant
Equity Specialist), Syed Sheeraz Ali (Shariah
Compliant Fixed Income Specialist)
Investment Committee Asif Ali Qureshi, CFA | Syed Suleman Akhtar,
CFA | Mubeen Ashraf |
Portfolio Quality (% of Total Assets) Mubashir Anis, CFA | Muhammad Waseem, CFA
|Irfan Nepal | Syed Sheeraz Ali
Fund %
Government Securities,55.28%
55.28% * Actual Management Fees charged for the month is 0.60% based on average net assets (annualized).

AAA,23.07% 23.07%
AA,12.12 12.12% Value of 100 Rupees invested 12 months ago
A+,1.13% 1.13% 125
Others,8.4 8.41%
120
100.01%
115

110
Government Securities,55.28% AAA,23.07% AA,12.12% A+,1.13% Others,8.41%
105

100
AIKPK-MMSF Asset Allocation (% of Total Assets)
95
Nov'24 Dec'24 Jan'25
Cash 99.45% 8.24% 24.22% 90
GOP Ijarah Sukuk 0.00% 68.42% 54.89% 85
Term Finance Certificates/ Sukuks 0.00% 12.21% 12.12%
Others 0.55% 11.12% 8.77%
*Weighted Average time to Maturity 0.52 year for GIS

Return
Since
3 Months 6 Months 1 Year 3 Years 5 Years
Inception
AIKPK-MMSF 10.29% 10.92% 15.22% - - 16.27%
Simple Annualized Returns | Morningstar Returns for period more than one year

Monthly Yield *
Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Sep'24 Oct'24 Nov'24 Dec'24 Jan'25 CYTD
AIKPK-MMSF 18.68% 18.68% 18.40% 18.09% 19.08% 15.82% 13.51% 8.70% 11.19% 11.04% 10.79% 8.81% 8.81%

* Simple Annualized Returns | For periodic returns as per SECP SCD Cirular No. 16 of 2014, refer to the end of this FMR
Disclaimer: This publication is for informational purpose only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments and Pension in mutual funds are subject to market risks. Past performance is not necessarily
indicative of future results. Please read the Offering Document to understand the investment policies and risks involved. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital markets. These may go up or down based
on market conditions. All returns are calculated assuming reinvested dividends. The calculation of performance does not include cost of sales load.
Use of name and logo of UBL Bank Ltd as given above does not mean that it is responsible for the liabilities/obligations of UBL Fund Managers Ltd. or any investment scheme managed by them.

MUFAP's Recommended Format Page - 17

Historical Performance
Disclosure as per SECP's SCD Circular No. 16, 2014
Fund Managers Report - January 2025

The periodic returns for the funds have been presented below as per SECP's SCD Circular No. 16 dated July 03, 2014. The returns presented below are:
- Yearly returns for the last five fiscal years, and
- Absolute returns for every fiscal year since inception
The returns have been annualized for money market, income and aggressive income schemes where the performance evaluation period is less than one year.
Last 3 and 5 Fiscal Years

FY'20 FY'21 FY'22 FY'23 FY'24 AIRSF FY'20 FY'21 FY'22 FY'23 FY'24
AICF 11.3% 6.4% 9.5% 16.3% 21.4% Debt Sub Fund 9.0% 5.0% 7.7% 15.3% 21.7%
Benchmark 5.4% 3.4% 3.7% 6.2% 10.3% Money Market Sub Fund 9.3% 4.6% 7.8% 15.9% 21.1%
only({<[FMR_5_FISCAL_YEARS_BENCH_RET.FUND_CODE]={'AICF'},BR5_DATE={'$(vC5)'}>}[FMR_5_FISCAL_YEARS_BENCH_RET.FY_BENCH_RETURN])/100
only({<[FMR_5_FISCAL_YEARS_BENCH_RET.FUND_CODE]={'AICF'},BR5_DATE={'$(vC4)'}>}[FMR_5_FISCAL_YEARS_BENCH_RET.FY_BENCH_RETURN])/100
only({<[FMR_5_FISCAL_YEARS_BENCH_RET.FUND_CODE]={'AICF'},BR5_DATE={'$(vC3)'}>}[FMR_5_FISCAL_YEARS_BENCH_RET.FY_BENCH_RETURN])/100
only({<[FMR_5_FISCAL_YEARS_BENCH_RET.FUND_CODE]={'AICF'},BR5_DATE={'$(vC2)'}>}[FMR_5_FISCAL_YEARS_BENCH_RET.FY_BENCH_RETURN])/100
only({<[FMR_5_FISCAL_YEARS_BENCH_RET.FUND_CODE]={'AICF'},BR5_DATE={'$(vC1)'}>}[FMR_5_FISCAL_YEARS_BENCH_RET.FY_BENCH_RETU
Equity Sub Fund 11.5% 37.0% -11.1% 0.0% 79.8%

FY'20 FY'21 FY'22 FY'23 FY'24 FY'20 FY'21 FY'22 FY'23 FY'24
AICP-I 7.3% 6.6% 9.8% 16.9% 21.7% AIFRP-I-G - - - - 23.4%
Benchmark 4.5% 3.4% 3.7% 6.2% 10.3% Benchmark - - - - 20.1%

FY'20 FY'21 FY'22 FY'23 FY'24

FY'20 FY'21 FY'22 FY'23 FY'24 AIKPK-MMSF - - - - 21.0%
AISF 9.9% 5.9% 8.1% 14.1% 20.3%
Benchmark 7.9% 7.0% 9.2% 17.0% 20.7%

FY'20 FY'21 FY'22 FY'23 FY'24

AIIF 8.5% 19.5%
Benchmark - - - 6.9% 10.1%

FY'20 FY'21 FY'22 FY'23 FY'24

AIAIF 8.5% 4.8% 8.6% 18.0% 21.2%
Benchmark 9.3% 4.9% 6.3% 10.4% 16.2%

FY'20 FY'21 FY'22 FY'23 FY'24

AIAIP-I 12.7% 8.2% 7.8% 11.5% 19.9%
Benchmark 7.6% 4.9% 6.3% 10.4% 16.2%

FY'20 FY'21 FY'22 FY'23 FY'24

AIAAF 9.8% 17.1% -0.1% 7.4% 40.4%
Benchmark 8.0% 17.8% - 6.0% 36.1%

FY'20 FY'21 FY'22 FY'23 FY'24

ASSF 10.4% 34.0% -12.3% -1.9% 81.1%
Benchmark 1.6% 39.3% -10.3% 2.9% 78.7%

FY'20 FY'21 FY'22 FY'23 FY'24

AIEF -19.6% 16.9% -6.2% 1.7% 90.1%
Benchmark -14.4% 39.3% -10.3% 2.9% 78.7%

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 the investment policies and risks involved.
Use of name and logo of UBL Bank Ltd./ UBL Ameen as given above does not mean that they are responsible for the liabilities/ obligations of Al-Ameen Funds (UBL Fund Managers) or any investment scheme.

MUFAP's Recommended Format Page - 18

Historical Performance
Disclosure as per SECP's SCD Circular No. 16, 2014
Fund Managers Report - January 2025

The periodic returns for the funds have been presented below as per SECP's SCD Circular No. 16 dated July 03, 2014. The returns presented below are:
- Yearly returns for the last five fiscal years, and
- Absolute returns for every fiscal year since inception
The returns have been annualized for money market, income and aggressive income schemes where the performance evaluation period is less than one year.
Since Inception Absolute Returns
AICF vs Benchmark (Fund return in top row) AIRSF
FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
12.0% 19.4% 25.1% 31.0% 37.6% 49.1% 66.1% 76.6% 93.5% 125.0% 173.2% Debt Sub Fund
12.9% 20.8% 27.0% 31.0% 34.4% 39.0% 46.4% 51.5% 57.0% 66.8% 84.2% 39.7% 47.4% 52.4% 59.3% 63.8% 75.5% 91.3% 100.8% 116.2% 149.2% 203.5%
Money Market Sub Fund
AICP-I vs Benchmark (Fund return in top row) 34.9% 42.6% 47.1% 53.0% 58.1% 69.4% 85.2% 93.7% 108.9% 142.0% 193.0%
FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 Equity Sub Fund
- - - - - - 0.6% 6.6% 17.8% 37.8% 67.7% 225.5% 373.7% 463.9% 635.6% 532.1% 419.0% 478.7% 692.9% 605.0% 604.7% 1167.1%
- - - - - - 0.4% 3.4% 7.6% 14.4% 26.3%

AISF vs Benchmark (Fund return in top row) AIFRP-I-G vs Benchmark (Fund return in top row)
FY'14 Page 16 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
41.3% 50.0% 56.6% 65.3% 70.2% 81.9% 99.9% 111.6% 128.8% 161.1% 213.9% - - - - - - - - - - 11.2%
29.6% 39.2% 46.7% 53.5% 61.1% 72.0% 85.7% 98.5% 116.9% 154.4% 209.3% - - - - - - - - - - 9.3%

AIIF vs Benchmark (Fund return in top row) AIKPK-MMSF vs Benchmark (Fund return in top row)
FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
- - - - - - - - - 0.0% 20.5% - - - - - - - - - - 11.0%
- - - - - - - - - 0.6% 10.8% - - - - - - - - - - -

AIAIF vs Benchmark (Fund return in top row)

FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
44.3% 56.3% 67.4% 75.4% 81.5% 93.4% 109.6% 119.7% 138.5% 181.4% 241.6%
68.1% 81.8% 92.5% 102.8% 113.4% 127.1% 148.3% 160.6% 177.2% 205.9% 256.7%

AIAIP-I vs Benchmark (Fund return in top row)

FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
- - - - - - 2.5% 10.9% 19.5% 33.3% 59.8%
- - - - - - 1.5% 6.5% 13.2% 25.1% 45.8%

AIAAF vs Benchmark (Fund return in top row)

FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
5.3% 24.2% 35.5% 55.3% 53.2% 46.9% 61.3% 88.8% 88.7% 102.7% 184.6%
7.3% 19.7% 30.2% 41.2% 50.5% 40.2% 51.4% 78.5% 88.0% 87.8% 155.6%

AIEF vs Benchmark (Fund return in top row)

FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
- - - - - - -19.6% -6.0% -11.8% -10.3% 70.5%
- - - - - - -14.4% 19.3% 7.1% 10.1% 96.9%
ASSF vs Benchmark (Fund return in top row)
FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
228.9% 317.9% 378.4% 518.0% 441.5% 341.6% 387.3% 552.9% 472.7% 461.8% 917.4%
269.7% 344.0% 412.9% 509.3% 450.9% 319.5% 326.3% 494.0% 433.1% 448.5% 880.1%

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 the investment policies and risks involved.
Use of name and logo of UBL Bank Ltd./ UBL Ameen as given above does not mean that they are responsible for the liabilities/ obligations of Al-Ameen Funds (UBL Fund Managers) or any investment scheme.

MUFAP's Recommended Format Page - 19