Crosby Phoenix Fund is the second open end fund launched by Crosby Asset Management (Pakistan) on April 2, 2009.
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Crosby Phoenix Fund Offering Document [PDF 4.7MB] |
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Crosby Phoenix Fund - Trust Deed [PDF 2.2MB] |
Fund Information
| Fund Structure | Open End |
| Fund Strategy | Income |
| Duration | Perpetual |
| Stock Exchange Listing | Islamabad Stock Exchange & CDC Eligible |
| Par Value | PKR 100 |
| Investment Objective | The Fund’s primary objective is to provide investors with a reasonable rate of current income along with the aim of preservation of capital |
| Investment Horizon | Short, Medium, and Long term instruments, with the maximum time to maturity of the Fund as 4 years |
| Investment Policy | The Fund shall seek to provide attractive levels of income provision while minimizing credit and price risk to the portfolio. Investments will comprise of high-quality corporate debt, bank deposits, and sovereign debt, while also maintaining sufficient liquidity to meet cash calls in a timely manner. |
| Risk Profile | Low |
| Benchmark | Proportionate of 25% average 3-month T-BILL PKRV rate & 75% average 1-year T-Bill PKRV rate |
| Seed Capital | Rs. 100 Million, with Rs. 50 Million locked in as core capital for 2 years |
| Minimum Subscription |
Rs. 10,000 (for Growth Units) |
| Types of Units | Growth Units - the unit value grows in line with
the growth in NAV – with option to receive
dividend as cash or Bonus Units Income Units - the unit holders may redeem a certain number of units at regular intervals |
Operational Specifics
| Dealing Days | Monday thru Friday (from 9.00 am to 3.00 pm) |
| Management Fee | 1.5% per annum of the average annual net assets of the scheme |
| Sales Load | Nil |
| Trustee | Central Depository Company of Pakistan Limited |
| Auditor | Ford Rhodes Sidat Hyder & Co. |
