JS Investments Limited · PSX:JSIL
JS Investments — Investor Presentation (June 2020)
72 slides from JS Investments's investor presentation, June 2020
Slide 1: Global Investment Performance Standards (GIPS) Compliant Performance Presentation
Global Investment Performance Standards (GIPS) Compliant Performance Presentation & Reporting For the Half Year (HY) ended June, 2020
Slide 2: JS Equity Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Equity Composite From January 2012 to June 2020 Composite Name: JS Equity Composite Benchmark: KSE – 30 Index Composite Creation Date: December 31, 2016 Reporting Currency: Pakistani Rupees (PKR) Composite Benchmark Composite Benchmark Total Numb
Slide 3: Compliance Statement
Compliance Statement “JS Investments Limited claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. JS Investments Limited (JSIL, the Firm) has not been independently verified.” Definition of the Fi
Slide 4: Significant Event
Significant Event 1. As a consequence of the 18th amendment to the Constitution of Pakistan, in May 2015 the Sindh Workers’ Welfare Fund Act, 2014 (SWWF Act) had been passed by the government of Sindh as a result of which every industrial establishment located in the Province of Sindh, the total inc
Slide 5: Minimum Portfolio Size and Valuation Assumptions
For portfolios of CIS (Funds) Rs. 100 Million For other portfolio Rs. 3 Million* *The minimum asset level for other portfolio is changed from Rs. 5 million to Rs. 3 million Internal Dispersion Since number of Portfolios in the composite is less than five for the entire (full) year therefore calculat
Slide 6: Liability for Income Tax
Liability for Income Tax Under the income tax law in Pakistan, the Fund is regarded as a public company for tax purposes. The income of the Fund is taxable, if 90% distribution is not made among the unit holders, certificate holders or shareholders as the case may be. The tax is chargeable at the ra
Slide 7: Taxation of Unit Holders and Liability to Zakat
Taxation of Unit Holders and Liability to Zakat (a) Withholding Tax: Unless exempted from such taxation or at a reduced rate under any law or Avoidance of Double Taxation Agreement, cash dividend paid to Unit holders of the Fund will be subject to withholding tax as per the prevailing tax law. In te
Slide 8: JS Islamic Equity Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Islamic Equity Composite From January 2012 to June 2020 Composite Name: JS Islamic Equity Composite Benchmark: KMI – 30 Index Composite Creation Date: December 31, 2016 Reporting Currency: Pakistani Rupees (PKR) Composite Benchmark Composite Benc
Slide 9: Compliance Statement
Compliance Statement “JS Investments Limited claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. JS Investments Limited (JSIL, the Firm) has not been independently verified.” Definition of the Fi
Slide 10: Significant Event
Significant Event 1. As a consequence of the 18th amendment to the Constitution of Pakistan, in May 2015 the Sindh Workers’ Welfare Fund Act, 2014 (SWWF Act) had been passed by the government of Sindh as a result of which every industrial establishment located in the Province of Sindh, the total inc
Slide 11: Internal Dispersion and Valuation Assumptions
Internal Dispersion Since number of Portfolios in the composite is less than five for the entire (full) year therefore calculation of internal dispersion is not required. Key Assumption for Portfolio valuation Following are the key assumptions used in portfolio valuation; Financial instruments All t
Slide 12: Capital Gains Tax Liability
(d) Capital gains arising on sale of securities, listed on any stock exchange in Pakistan at applicable tax rates in accordance with the Income Tax Ordinance, 2001; Returns from all other sources/instruments are taxable at the rate applicable to a public company. Liability for Income Tax, if ninety
Slide 13: Capital Gains
(d) Capital Gains: Capital Gains arising on disposition of Units of the Fund subject to withholding Capital Gains Tax (CGT) at the applicable rates given in the Income Tax Ordinance, 2001 (ITO).There shall be no CGT, if holding period is more than 48 months (4 years). As per section 37(A) of the Inc
Slide 14: JS Balanced Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Balanced Composite From January 2012 to June 2020 Composite Name: JS Balanced Composite Benchmark: 50% KSE 30 – index + 50% 6M KIBOR Composite Creation Date: December 31, 2016 Reporting Currency: Pakistani Rupees (PKR) Composite Composite Benchma
Slide 15: Compliance Statement
Compliance Statement “JS Investments Limited claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. JS Investments Limited (JSIL, the Firm) has not been independently verified.” Definition of the Fi
Slide 16: Benchmark and Significant Event
Benchmark The benchmark of JS Balanced Composite is equally weighted combination of KSE 30 – Index and 06 Months KIBIR rates i.e. 50% KSE 30 – index + 50% 6M KIBOR. List of Composites The Firm’s list of composite descriptions is available upon request. Significant Event 3. As a consequence of the 18
Slide 17: Minimum Portfolio Size
Minimum Portfolio Size The Minimum portfolio size for inclusion in the composite is as follows; For portfolios of CIS (Funds) Rs. 100 Million For other portfolio Rs. 3 Million* *The minimum asset level for other portfolio is changed from Rs. 5 million to Rs. 3 million Internal Dispersion Since numbe
Slide 18: Liability for Income Tax
Liability for Income Tax Under the income tax law in Pakistan, the Fund is regarded as a public company for tax purposes. The income of the Fund is taxable, if 90% distribution is not made among the unit holders, certificate holders or shareholders as the case may be. The tax is chargeable at the ra
Slide 19: Taxation of Unit Holders and Liability to Zakat
Taxation of Unit Holders and Liability to Zakat (e) Withholding Tax: Unless exempted from such taxation or at a reduced rate under any law or Avoidance of Double Taxation Agreement, cash dividend paid to Unit holders of the Fund will be subject to withholding tax as per the prevailing tax law. In te
Slide 20: JS Balanced Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Balanced Composite From January 2012 to June 2020 Composite Name: JS Balanced Composite Benchmark: 50% KSE 30 – index + 50% 6M KIBOR Composite Creation Date: December 31, 2016 Reporting Currency: Pakistani Rupees (PKR) Composite Composite Benchma
Slide 21: Compliance Statement
Compliance Statement “JS Investments Limited claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. JS Investments Limited (JSIL, the Firm) has not been independently verified.” Definition of the Fi
Slide 22: Benchmark and Significant Event
Benchmark The benchmark of JS Balanced Composite is equally weighted combination of KSE 30 – Index and 06 Months KIBIR rates i.e. 50% KSE 30 – index + 50% 6M KIBOR. List of Composites The Firm’s list of composite descriptions is available upon request. Significant Event 5. As a consequence of the 18
Slide 23: Minimum Portfolio Size
Minimum Portfolio Size The Minimum portfolio size for inclusion in the composite is as follows; For portfolios of CIS (Funds) Rs. 100 Million For other portfolio Rs. 3 Million* *The minimum asset level for other portfolio is changed from Rs. 5 million to Rs. 3 million Internal Dispersion Since numbe
Slide 24: Liability for Income Tax
Liability for Income Tax Under the income tax law in Pakistan, the Fund is regarded as a public company for tax purposes. The income of the Fund is taxable, if 90% distribution is not made among the unit holders, certificate holders or shareholders as the case may be. The tax is chargeable at the ra
Slide 25: Taxation of Unit Holders and Liability to Zakat
Taxation of Unit Holders and Liability to Zakat (g) Withholding Tax: Unless exempted from such taxation or at a reduced rate under any law or Avoidance of Double Taxation Agreement, cash dividend paid to Unit holders of the Fund will be subject to withholding tax as per the prevailing tax law. In te
Slide 26: JS Income Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Income Composite From January 2012 to June 2020 Composite Name: JS Income Composite Benchmark: Six Months KIBOR rate Composite Creation Date: December 31, 2016 Reporting Currency: Pakistani Rupees (PKR) Composite Benchmark Composite Benchmark Tot
Slide 27: Compliance Statement
Compliance Statement “JS Investments Limited claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. JS Investments Limited (JSIL, the Firm) has not been independently verified.” Definition of the Fi
Slide 28: Significant Event
Significant Event 7. As a consequence of the 18th amendment to the Constitution of Pakistan, in May 2015 the Sindh Workers’ Welfare Fund Act, 2014 (SWWF Act) had been passed by the government of Sindh as a result of which every industrial establishment located in the Province of Sindh, the total inc
Slide 29: Minimum Portfolio Size
Minimum Portfolio Size The Minimum portfolio size for inclusion in the composite is as follows; For portfolios of CIS/ (Funds) Rs. 100 Million For other portfolio(s) Rs. 3 Million* *The minimum asset level for other portfolio is changed from Rs. 5 million to Rs. 3 million. Internal Dispersion Since
Slide 30: Proprietary Assets in the Composite
Proprietary Assets in the Composite The composite contains the proprietary investments of JS Investments Limited as at June 30, 2020. Liability for Income Tax Under the income tax law in Pakistan, the Fund is regarded as a public company for tax purposes. The income of the Fund is taxable, if 90% di
Slide 31: Taxation of Unit Holders and Liability to Zakat
Taxation of Unit Holders and Liability to Zakat (i) Withholding Tax: Unless exempted from such taxation or at a reduced rate under any law or Avoidance of Double Taxation Agreement, cash dividend paid to Unit holders of the Fund will be subject to withholding tax as per the prevailing tax law. In te
Slide 32: JS Islamic Income Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Islamic Income Composite From January 2012 to June 2020 Composite Name: JS Islamic Income Composite Benchmark: Refer to Benchmark Disclosure Composite Creation Date: December 31, 2016 Reporting Currency: Pakistani Rupees (PKR) Composite Benchmark
Slide 33: Compliance Statement
Compliance Statement “JS Investments Limited claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. JS Investments Limited (JSIL, the Firm) has not been independently verified.” Definition of the Fi
Slide 34: Significant Event
Significant Event 1. As a consequence of the 18th amendment to the Constitution of Pakistan, in May 2015 the Sindh Workers’ Welfare Fund Act, 2014 (SWWF Act) had been passed by the government of Sindh as a result of which every industrial establishment located in the Province of Sindh, the total inc
Slide 35: Internal Dispersion and Valuation Assumptions
Internal Dispersion Since number of Portfolios in the composite is less than five for the entire (full) year therefore calculation of internal dispersion is not required. Key Assumption for Portfolio valuation Following are the key assumptions used in portfolio valuation; Financial instruments All t
Slide 36: Capital Gains Tax Liability
(l) Capital gains arising on sale of securities, listed on any stock exchange in Pakistan at applicable tax rates in accordance with the Income Tax Ordinance, 2001; Returns from all other sources/instruments are taxable at the rate applicable to a public company. Liability for Income Tax, if ninety
Slide 37: Capital Gains
(l) Capital Gains: Capital Gains arising on disposition of Units of the Fund subject to withholding Capital Gains Tax (CGT) at the applicable rates given in the Income Tax Ordinance, 2001 (ITO).There shall be no CGT, if holding period is more than 48 months (4 years). As per section 37(A) of the Inc
Slide 38: JS Money Market Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Money Market Composite From January 2012 to June 2020 Composite Name: JS Money Market Composite Benchmark: Refer to Benchmark Disclosure Composite Creation Date: December 31, 2016 Reporting Currency: Pakistani Rupees (PKR) Composite Benchmark Com
Slide 39: Compliance Statement
Compliance Statement “JS Investments Limited claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. JS Investments Limited (JSIL, the Firm) has not been independently verified.” Definition of the Fi
Slide 40: List of Composites and Significant Event
List of Composites The Firm’s list of composite descriptions is available upon request. Significant Event 9. As a consequence of the 18th amendment to the Constitution of Pakistan, in May 2015 the Sindh Workers’ Welfare Fund Act, 2014 (SWWF Act) had been passed by the government of Sindh as a result
Slide 41: Minimum Portfolio Size
Minimum Portfolio Size The Minimum portfolio size for inclusion in the composite is as follows; For portfolios of CIS (Funds) Rs. 100 Million For other portfolio Rs. 3 Million* *The minimum asset level for other portfolio is changed from Rs. 5 million to Rs. 3 million. Internal Dispersion Since numb
Slide 42: Proprietary Assets in the Composite
Proprietary Assets in the Composite The composite contains the proprietary investments of JS Investments Limited as at June 30, 2020. Liability for Income Tax Under the income tax law in Pakistan, the Fund is regarded as a public company for tax purposes. The income of the Fund is taxable, if 90% di
Slide 43: Taxation of Unit Holders and Liability to Zakat
Taxation of Unit Holders and Liability to Zakat (m) Withholding Tax: Unless exempted from such taxation or at a reduced rate under any law or Avoidance of Double Taxation Agreement, cash dividend paid to Unit holders of the Fund will be subject to withholding tax as per the prevailing tax law. In te
Slide 44: JS Asset Allocation Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Asset Allocation Composite From January 2012 to June 2020 Composite Name: JS Asset Allocation Composite Benchmark: 50% KSE30 Index + 50% Avg. 6M KIBOR Composite Creation Date: December 31, 2016 Reporting Currency: Pakistani Rupees (PKR) Composite
Slide 45: Compliance Statement
Compliance Statement “JS Investments Limited claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. JS Investments Limited (JSIL, the Firm) has not been independently verified.” Definition of the Fi
Slide 46: List of Composites and Significant Event
List of Composites The Firm’s list of composite descriptions is available upon request. Significant Event 11. As a consequence of the 18th amendment to the Constitution of Pakistan, in May 2015 the Sindh Workers’ Welfare Fund Act, 2014 (SWWF Act) had been passed by the government of Sindh as a resul
Slide 47: Minimum Portfolio Size
For portfolios of CIS (Funds) Rs. 100 Million For other portfolio Rs. 3 Million* * The minimum asset level for other portfolio is changed from Rs. 5 million to Rs. 3 million Internal Dispersion Since number of Portfolios in the composite is less than five for the entire (full) year therefore calcula
Slide 48: Liability for Income Tax
Liability for Income Tax Under the income tax law in Pakistan, the Fund is regarded as a public company for tax purposes. The income of the Fund is taxable, if 90% distribution is not made among the unit holders, certificate holders or shareholders as the case may be. The tax is chargeable at the ra
Slide 49: Taxation of Unit Holders and Liability to Zakat
Taxation of Unit Holders and Liability to Zakat (o) Withholding Tax: Unless exempted from such taxation or at a reduced rate under any law or Avoidance of Double Taxation Agreement, cash dividend paid to Unit holders of the Fund will be subject to withholding tax as per the prevailing tax law. In te
Slide 50: JS Capital Protected Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Capital Protected Composite From January 2012 to June 2018 Composite Name: JS Capital Protected Composite Benchmark: Refer to Benchmark Disclosure Composite Creation Date: December 31, 2016 Reporting Currency: Pakistani Rupees (PKR) Composite Com
Slide 51: Compliance Statement
Compliance Statement “JS Investments Limited claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. JS Investments Limited (JSIL, the Firm) has not been independently verified.” Definition of the Fi
Slide 52: List of Composites and Significant Event
List of Composites The Firm’s list of composite descriptions is available upon request. Significant Event 1. As a consequence of the 18th amendment to the Constitution of Pakistan, in May 2015 the Sindh Workers’ Welfare Fund Act, 2014 (SWWF Act) had been passed by the Government of Sindh as a result
Slide 53: Fee Schedule and Minimum Portfolio Size
Fee Schedule Management Fee is 1.00% for JS CPF V; and Management Fee is 1.75% for JS PSF I. Minimum Portfolio Size The Minimum portfolio size for inclusion in the composite is as follows; For portfolios of CIS (Funds) Rs. 100 Million For other portfolio Rs. 3 Million Internal Dispersion Since numbe
Slide 54: Revenue Recognition and Income Tax
Revenue recognition Capital gains of a security are accounted for in the period in which they arise. Dividend income is recognized when the right to receive them is established. Income on bank deposits is recognized on accrual basis, and adjustments (if required) are made on receipt of actual profit
Slide 55: Withholding Tax
Withholding Tax Under the provisions of Clause 47(B) of Part – iv of the Second Schedule to the Income Tax Ordinance, 2001, the Fund’s income namely, dividend, profit on government securities, return on deposits/certificates of investment with banks/financial institutions, profits from money market
Slide 56: JS Index Tracker Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Index Tracker Composite From January 2012 to December 2017 Composite Name: JS Index Tracker Composite Benchmark: KSE – 30 Index Composite Creation Date: December 31, 2016 Reporting Currency: Pakistani Rupees (PKR) Composite Benchmark Composite Be
Slide 57: Policies, Composite Description and Benchmark
Policies The Firm’s policies for valuing Portfolios, calculating performance, and preparing compliant presentations are available upon request. Composite Description The composite targets sophisticated investors who can time their entry and exit in accordance with the expected performance of the equ
Slide 58: Significant Event
Significant Event 1. As a consequence of the 18th amendment to the Constitution of Pakistan, in May 2015 the Sindh Workers’ Welfare Fund Act, 2014 (SWWF Act) had been passed by the Government of Sindh as a result of which every industrial establishment located in the Province of Sindh, the total inc
Slide 59: Fee Schedule and Minimum Portfolio Size
Fee Schedule Management Fee is 1.50% for JS KSE 30. Minimum Portfolio Size The Minimum portfolio size for inclusion in the composite is as follows; For portfolios of CIS (Funds) Rs. 100 Million For other portfolio Rs. 3 Million Internal Dispersion Since number of Portfolios in the composite is less
Slide 60: Revenue Recognition and Income Tax
Revenue recognition Capital gains of a security are accounted for in the period in which they arise. Dividend income is recognized when the right to receive them is established. Income on bank deposits is recognized on accrual basis, and adjustments (if required) are made on receipt of actual profit
Slide 61: Withholding Tax
Withholding Tax Under the provisions of Clause 47(B) of Part – iv of the Second Schedule to the Income Tax Ordinance, 2001, the Fund’s income namely, dividend, profit on government securities, return on deposits/certificates of investment with banks/financial institutions, profits from money market
Slide 62: JS Islamic Asset Allocation Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Islamic Asset Allocation Composite From Feb 22, 2017 to June 30, 2020 Composite Name: JS Islamic Asset Allocation Composite Benchmark: Refer to the benchmark disclosure Composite Creation Date: December 31, 2017 Reporting Currency: Pakistani Rupe
Slide 63: Definition of the Firm
Definition of the Firm The Firm is a public listed company incorporated in Karachi - Pakistan and is listed on the Pakistan Stock Exchange. JSIL is a subsidiary of “JS Bank Limited” and is engaged in the business of providing Asset Management and Investment Advisory Services. The definition of the F
Slide 64: Significant Event
Significant Event 13. As a consequence of the 18th amendment to the Constitution of Pakistan, in May 2015 the Sindh Workers’ Welfare Fund Act, 2014 (SWWF Act) had been passed by the government of Sindh as a result of which every industrial establishment located in the Province of Sindh, the total in
Slide 65: Minimum Portfolio Size
For portfolios of CIS (Funds) Rs. 100 Million For other portfolio Rs. 3 Million* * The minimum asset level for other portfolio is changed from Rs. 5 million to Rs. 3 million Internal Dispersion Since number of Portfolios in the composite is less than five for the entire (full) year therefore calcula
Slide 66: Liability for Income Tax
Under the income tax law in Pakistan, the Fund is regarded as a public company for tax purposes. The income of the Fund is taxable, if 90% distribution is not made among the unit holders, certificate holders or shareholders as the case may be. The tax is chargeable at the rate applicable to a public
Slide 67: Capital Gains
In terms of the provisions of the Income Tax Ordinance, 2001, the withholding tax shall be deemed to be full and final liability in respect of such distribution. (r) Capital Gains: Capital Gains arising on disposition of Units of the Fund subject to withholding Capital Gains Tax (CGT) at the applica
Slide 68: JS Private Equity Composite GIPS Compliant Presentation
JS Investments Limited GIPS Compliant Presentation JS Private Equity Composite From Nov 2019 to June 2020 Composite Name: JS Private Equity Composite Benchmark: 6 Months KIBOR + 300 basis points Composite Creation Date: Reporting Currency: Pakistani Rupees (PKR) Composite Benchmark Composite Benchma
Slide 69: Composite Description, Benchmark and Significant Event
Composite Description JS Private Equity Composite aims to participate in the investments of all types of Funds related to Venture Capital, including media oriented investment themes. For liquidity management, portfolios of this composite may invest in Government securities, fixed Income and Money Ma
Slide 70: Fees, Fee Schedule and Minimum Portfolio Size
Fees Returns are calculated and presented net of all fees/ expenses that includes custodial expenses, SECP fee, listing fee, Management Fee, Trading Expenses etc. Fee Schedule Management Fee for JS Private Equity Fund is 2.00%. Minimum Portfolio Size The Minimum portfolio size for inclusion in the c
Slide 71: Valuation Assumptions and Income Tax
when they are extinguished, that is, when the obligation specified in the contract is discharged, cancelled, or expires. Any gain or loss on derecognizing of the financial assets and liabilities is taken to the income statement in the period in which it arises. Revenue recognition Capital gains of a
Slide 72: Withholding Tax
Withholding Tax Under the provisions of Clause 47(B) of Part – iv of the Second Schedule to the Income Tax Ordinance, 2001, the Fund’s income namely, dividend, profit on government securities, return on deposits/certificates of investment with banks/financial institutions, profits from money market