NBP Pakistan Growth Exchange Traded fund · PSX:NBPGETF
NBP Pakistan Growth Exchange Traded fund — NBP Funds — Investor Presentation (May 2019)
17 slides from NBP Pakistan Growth Exchange Traded fund's investor presentation, May 2019
Slide 1: Investment Style Presentation
INVESTMENT STYLE PRESENTATION
Slide 2: Investment Methodology of Equities
INVESTMENT METHODOLOGY OF EQUITIES
Slide 3: Investment Process Overview
INVESTMENT PROCESS OVERVIEW Capital Market Industry Prospects Technical & Company Analysis Portfolio Monitoring Portfolio Construction Expectations Liquidity Screening Macroeconomic Free Float Market Management Peer Performance Prospects Earning Drivers Capitalization Quality Profit Margins Investme
Slide 4: Asset Allocation Decision
ASSET ALLOCATION DECISION Our Asset Allocation Capital Market expectations Review and outlook of the economy decision is Political climate guided by the Global economic and political trends following factors Prospects of equity & fixed income markets Corporate earnings trend Technical analysis of th
Slide 5: Stock Selection Process
STOCK SELECTION PROCESS Phase 1 Phase 2 Quantitative screening Fundamental Analysis Multifactor models identify Analysis of business prospects of stocks likely to outperform selected companies and sectors the stock market Meeting management of The basis of identification selected companies is growth
Slide 6: Stock Selection Process Phase 2: Fundamental Analysis
STOCK SELECTION PROCESS PHASE 2: FUNDAMENTAL ANALYSIS Fundamental valuation techniques such as DCF, FCFF and FCFE & Relative Valuation techniques Management quality such as P/E, P/S etc. are employed Business characteristics based on the following key factors: SWOT analysis Change catalyst Financial
Slide 7: Stock Selection Process: Quantitative Screening
STOCK SELECTION PROCESS QUANTITATIVE SCREENING Value P/E, P/B, P/CF, Dividend Yield, Price versus Intrinsic Value, etc. Estimated earnings, Earnings Growth momentum, ROE, Market Equities Technicals, etc. Leverage - debt to equity, Liquidity - Quality traded value/volume, Earnings quality, quality of
Slide 8: Stock Selection Process - Summary
STOCK SELECTION PROCESS - SUMMARY Quantitative Screen Fundamental Screen
Slide 9: Portfolio Construction Process
PORTFOLIO CONSTRUCTION PROCESS Quantitative Screen Securities for Fundamental Analysis purchase /sale Company visits Screen Stocks Rank Stocks Screen Stocks Discussion with analysts Rank Stocks Micro analysis Trading Fund Investment Portfolio Guidelines Best execution Construction Diversification Co
Slide 10: Investment Methodology of Fixed Income
INVESTMENT METHODOLOGY OF FIXED INCOME
Slide 11: Asset Allocation Decision
ASSET ALLOCATION DECISION Our Asset Allocation decision is guided by the following factors: Capital Market expectations Review and outlook of the economy Political climate Global economic and political trends Term structure of interest rates (Yield curve) Money supply, External accounts, Fiscal bala
Slide 12: Broad Guidelines for Investment in Fixed Income Asset Classes
BROAD GUIDELINES FOR INVESTMENT IN FIXED INCOME ASSET CLASSES Treasury Bills: Investment is guided by the interest rate outlook. In case of uptick in interest rates the maturity of the T-Bills portfolio is shortened and vice versa. Commercial Paper / Letter of Placement / CoIs: Credit rating of the
Slide 13: Credit Analysis
CREDIT ANALYSIS Credit analysis is conducted to assess investment options and their suitability for the fixed income and money market portfolio of various funds. In addition the objective is to analyze the capacity of the issuer to timely meet his financial obligations when due. The process covers b
Slide 14: 4 Steps of Credit Analysis
4 STEPS OF CREDIT ANALYSIS Character Ethical Reputation of the Management, Performance Track Record, Financial Philosophy, Business Qualification Industry Prospects, Competitive Capacity Position, Financial Position and Financial Performance, Company Structure, Liquidity Measurement Fixed Income Sec
Slide 15: Capacity to Pay
CAPACITY TO PAY Profitability & Efficiency Analysis Return on Equity Return on Assets Profit Margins Asset Turnover Short-term Solvency Financial Leverage Coverage Tests Debt & Coverage Analysis
Slide 16: Portfolio Construction Process
PORTFOLIO CONSTRUCTION PROCESS Macroeconomic analysis Analysis of alternative Fund Investment Detailed analysis of asset classes guidelines each asset class Trading Security selection based on Portfolio qualitative and quantitative (Best execution) Construction factors Continuous Monitoring and Revi
Slide 17: Key Risks and Their Mitigates
KEY RISKS AND THEIR MITIGATES Pro-active investment decision supported by in-depth research is the guardrail of our risk management strategy. The specific investment risk inherit in any authorized investment is mitigated as follows; Credit Risk: Credit risk comprises of default risk, downgrade risk