Unit holders of the Funds mentioned below are hereby notified about the amendment made in the Management Fee clause of the Offering Documents as per the regulatory requirement.
| Fund | Management Fee (p.a.) | |
| Previously | Currently | |
| HBL Islamic Money Market Fund | 10% of gross earnings with floor of 0.75% and cap of 1% of the average daily net assets of the scheme. | Maximum limit of management fee is 1.50% per annum of Average Annual Net Assets |
| HBL Islamic Income Fund/td> | Maximum 10% of gross return subject to a floor of 0.5% and a cap of 1.5% of the average annual net assets. | Maximum limit of management fee is 1.50% per annum of Average Annual Net Assets |
| HBL Islamic Stock Fund | 2.00% per annum | Maximum limit of management fee is 3.00% per annum of Average Annual Net Assets |
| HBL Islamic Asset Allocation Fund | 1.50% per annum | Maximum limit of management fee is 3.00% per annum of Average Annual Net Assets |
| HBL Islamic Dedicated Equity Fund | 2.00% per annum | Maximum limit of management fee is 3.00% per annum of Average Annual Net Assets |
| HBL Islamic Equity Fund | 2.00% per annum | Maximum limit of management fee is 3.00% per annum of Average Annual Net Assets |
ith regards to this change, the Supplemental Offering Documents can be viewed at www.hblasset.com. The Consolidated Offering Document of the Funds mentioned above have been amended and are available on our website.
The notice is being given to all unit holders in compliance with Non-Banking Finance Companies and Notified Entities Regulations, 2008 and the constitutive documents of the Funds.
The change would be effective from March 09th, 2020.
For details, please contact:
Retails Sales Support
HBL Asset Management
7th Floor, Emerald Tower, G-19, Block 5,
Main Clifton Road, Clifton, Karachi
www.hblasset.com
Karachi.
Call us at: 0800 – 42526