Mission and Vision

Vision
To be a top quartile provider of investment solutions to both individuals and institutions. Through the success of our clients and employees we seek to build sustainable and long-term shareholder value, and to be an employer of choice in the asset management industry.

Mission
To deliver superior performance as measured by market share parameters, high-quality service and a portfolio of innovative yet tailored products across a range of investment disciplines and distribution channels. To provide a fulfilling, stimulating and supportive environment for our employees that fosters their personal growth and facilitates our productivity as a team.

Board of Directors
Lakson Investments Board of Directors guides the overall philosophy and direction of the organization. Our board members are experienced professionals from diverse business sectors of domestic & international markets.

y y y y y y y y

Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr.

Iqbal Ali Lakhani Chairman Babar Ali Lakhani Chief Executive Officer A. Aziz H. Ebrahim Mahomed J. Jaffer Sher Afgan Malik Muhammad Abdul Qadir Daniel Scott Smaller Zahid Zakiuddin

TopMr. Iqbal Ali Lakhani

Chairman

Mr. Lakhani has over 36 years of top management experience in group companies in finance, marketing, manufacturing industry and government relations. His special interests include Marketing, Finance, Total Quality Management and Reengineering. Mr. Lakhani is Chairman of the Corporate Boards of 5 Lakson companies which are listed on the stock exchanges of Karachi and Lahore. Mr. Lakhani was Chairman of the Cigarette Manufacturers Association of Pakistan, Agha Khan Economic Planning Board for Pakistan and Vice President of the American Business Council of Pakistan. Mr. Lakhani received by B.A from the University of California Berkeley. He was a member of the PSI-National Accounting fraternity; Honor Student s Society, member of Phi Beta Kappa and received the departmental award for outstanding undergraduate achievement.

TopMr. Babar Ali Lakhani

Chief Executive Officer

Mr. Lakhani has over 12 years of investment and portfolio management experience in domestic and international equity and fixed income markets. Mr. Lakhani most recently served as the Chief Investment Officer of Century Insurance, a Public Limited Company listed on the Karachi and Lahore Stock Exchanges of Pakistan. He was an Investment Associate at High Street Advisors and a Research Analyst at Credit Suisse Equity Group (formerly Credit

Suisse First Boston). Mr. Lakhani brings extensive investment experience, globally practiced portfolio management discipline, and a comprehensive understanding of the global asset management industry to Lakson Investments Limited. Mr. Lakhani received his BA in Finance from Bentley College, and his MBA from Brandeis University.

Mr. Lakhani is the Chairman of Tritex Cotton Mills Ltd., a board member of the Mutual Fund Association of Pakistan (MUFAP), a member of the Global Association of Risk Professionals (GARP), the Society of Financial Service Professionals and the Young President's Organization (YPO). Mr. Lakhani is a member of the Alumni Trustee Committee of Brandeis University and is the schools representative in Pakistan.

TopMr. A. Aziz H. Ebrahim

Mr. Ebrahim has over 35 years of varied experience in financial management in private industries in Pakistan. After qualifying Chartered Accountancy Examination, (at present fellow member of Institute of Chartered Accountant of Paskistan) Mr. Ebrahim started his career in 1967 as Finance Manager with ARAG Industries dealing in various businesses such as Pharmaceuticals, Cosmetics, Biscuits Manufacturing etc. He left the ARAG Group in 1977. In 1977, Mr. Ebrahim joined Lakson Group of Companies. Mr. Ebrahim is as Director on Board in many Companies of the Group. He has been instrumental in running the Hassanali Karabhai Foundation providing educational, medical, and helping other social activities.

Top Mr. Mahomed J. Jaffer (Independent)

Mr. Jaffer offers over 50 years of far reaching professional experience in law and financial law and an intimate understanding of corporate Pakistan. Mr. Jaffer currently serves as Chairman ICI Pakistan and has in the past been SECP nominee Director of the Karachi Stock Exchange. Mr. Jaffer has authored several articles, including Arbitration Law in Pakistan 1980, Yearbook Commercial Arbitration; "Islamic Banking in Pakistan", Euromoney, 1988-1989; "Enforcement of Islamic Laws, Corporate Law and Related Topics", ICAP, International Construction Law Review, 1999 "Rupali Polyester Ltd v Dr. Nael G. Bunni and others" etc. Mr. Jaffer is an alternate member, ICC International Court of Arbitration; Member, Advisory Board, Hongkong & Shanghai Banking Corporation, Karachi Branch; Member, Supreme Court Bar Association and Sindh High Court Bar Association; International Bar Association; Inter-Pacific Bar Association; LAWASIA; and a speaker at international legal conferences. Practice areas of Mr. Jaffer include corporate law; banking and finance; insurance; arbitration; construction; foreign investment, international trade; anti-trust; mergers and acquisitions. Mr. Jaffer received his B.A. (Mod) LL.B. in 1952 from University of Dublin, Trinity College and Barrister-at-Law in 1954 from Middle Temple, London.

Top Mr. Sher Afgan Malik

Mr. Malik has over 40 years of general management and management accounting experience in both Pakistan and the Middle East. Mr. Malik initiated his career in Saudi Arabia with Tumpane Services Corporation, an American military contractor company, where he served as the Vice President of Finance, Contract Pricing, and Contract Negotiation and Finalization. He then served as the Chief Executive Officer for the Cement, Transport, Steel Fabrication and Tire Distribution Divisions of Rashed Abdul Rahman Al Rashed & Sons Group, a leading trading and industrial conglomerate in Saudi Arabia. He has also served as a Managing Director for Pakistan International Airlines and as the President of the Institute of Cost & Management Accountants of Pakistan and was a director of the Karachi Stock Exchange. Mr. Malik holds a B.A. From Karachi University and is both an Associate and Fellow Member of the Institute of Cost & Management Accountants.

TopMr. Muhammad Abdul Qadir

Mr. Qadir is a fellow member of the Institute of Chartered Accountant of Pakistan. He did his Articleship from M/s. A.F. Ferguson & Co., who are one of the leading firms of Chartered Accountants with an international affiliation with Price Waterhouse & Coopers. In addition to the training and exposure to the Financial Management at A.F. Ferguson & Co. Mr. Qadir has also attended a 3 month course at the International Centre for Advance Management in Italy and obtained a Diploma in MIS. He has also attended advance management course held by the Pakistan Institute of Management at Muree. His work experience include Financial Management at Sui Southern Gas Company Ltd. where he served as G.M. Finance till 1983, and thereafter joined the Lakson Group of Companies where Mr. Qadir is presently serving as Director Finance / Chief Financial Officer of Colgate-Palmolive (Pakistan) Limited.

TopMr. Daniel Scott Smaller (Independent)

Mr. Smaller has over 25 years of relevant experience in the Financial Services Industry and has been involved in the Middle East and North Africa (MENA) region for over 20 years. Prior to joining Algebra Capital, Daniel moved to Dubai 2 years ago to set up and manage Deutsche Bank's Asset Management business in the MENA region. Mr. Smaller worked for Deutsche Bank for the last 8 years in Hong Kong and London, where he was Head of Global Sales and also Head of Emerging Market Sales, respectively. Mr. Smaller started his Financial Career in Bahrain in 1982 working for Citibank Treasury; he continued to work for Citibank in London, Zurich and Sydney from 1985-1989 in the fields of Equity, Debt, Mezzanine Finance and Private Equity. He has been active in Emerging Markets since 1989 when he took over as Head of Citibank's Asian Equity operation in London. In 1992 he initiated Lehman Brothers' Emerging Market effort in Equities and was the first to introduce Institutional Investors to the MENA region in 1993. He completed the first privatization in Morocco in that year and assisted in the development of the MENA equity markets throughout the early 1990's. In 1994 he moved to UBS to Head up Sales for EMEA and continued to be very active in the Middle East. Mr. Smaller holds an undergraduate degree in Economics and International Relations from the School of International Service at American University in Washington DC and an MBA from the University of Chicago in International Finance.

TopMr. Zahid Zakiuddin (Independent)

Mr. Zakiuddin has over 30 years experience in corporate and investment banking.

He started his career in corporate banking with Bank of America in 1978, in Dublin and subsequently worked with them in London and Karachi. Mr. Zakiuddin has spent most of his career with Investcorp Bank in Bahrain which he joined in 1987, soon after the Firm was established. Investcorp is a global alternative investments provider specializing in private equity, real estate and hedge funds. It has offices in London, New York and Bahrain with approximately 350 employees and $16 billion in assets under management. Mr. Zakiuddin s initial position was as a Principal in the investment analysis and banking relationship group. In 1995, he was promoted to Managing Director, elected as a Member of the Management Committee and moved to the investment placement team. Within the placement team he served in various capacities including Chief of Staff and Head of the Institutional Placement group. His last position before his retirement in 2008 was as the Head of the Placement and Relationship Management team which was responsible for raising client funds totally $2.3 billion in 2007 and $3.5 billion in 2008. Mr. Zakiuddin has served as an independent director of Stratus Computers and on the Board of many Investcorp companies including its hedge fund subsidiaries. Mr. Zakiuddin has a B.A. in Economics from Columbia University and an MBA with double majors in Finance and Multinational Enterprise from The Wharton School of the University of Pennsylvania.

Our Corporate Heritage

The Lakson Group was established in 1954 by Mr. Hassanali Karabhai, and is one of the largest and most diversified business groups in Pakistan. Today we manage and own companies that are industry leaders in their respective sectors including consumer non-durables, fast food, financial services, media, surgical instruments, technology, textiles and travel. Our brands include Colgate-Palmolive (Pakistan), Cyber.Net, Clover, Express News, McDonald s and Tetley.

Awards & Accolades

Top 25 Companies Award from Karachi Stock Exchange: Lakson Tobacco (1997, 1998, 1999, 2003, 2004 & 2005) Century Insurance (1997 & 1998) Century Paper & Board Mills (2002, 2003 & 2004) Colgate-Palmolive (2004) Colgate-Palmolive was awarded the Corporate Excellence Certificate from the Management Association of Pakistan for the years 2001, 2002 and 2004. Century Publications won the Mass Media Award in 2002.

Our Investment Discipline

Lakson Investments strongly believes in research based investments, and does not employ speculation based portfolio strategies. LI has a fully staffed research team of business graduates from highly respected institutions (such as LUMS & IBA) and CFA candidates that develop and track comprehensive financial models for equity and fixed income securities. Our research team tracks and monitors key sectors of the stock market, and provides updates and detailed research reports to the respective fund managers and the Investment Committee. Our dedicated in-house research team plays a critical role in making disciplined investment decisions based on their analysis, that takes into account changes in company fundamentals, market trends, macro-economic changes, and shifts in fiscal and monetary policy, thereby generating superior risk-adjusted returns. The research team assists the Investment Committee in investment decisions.

Team Members
The management team has a combined experience of 50 years in both domestic and international markets. On average, our team members have worked together for about 5 years in different capacities in the asset management industry of Pakistan and all of our department heads have a proven track record of delivering results and working together as a team in an exemplary fashion.

Mr. Babar Ali Lakhani Chief Executive Officer Mr. Muhammad Umair Chauhan Chief Investment Officer Mr. Amir Mobin Chief Financial Officer and Company Secretary Syed Jawaid Raza Head of IT & Operations Syed Hassan Askary Head of Investor Relations & Transfer Agency

TopMr. Babar Ali Lakhani

Chief Executive Officer

Mr. Lakhani has over 12 years of investment and portfolio management experience in domestic and international equity and fixed income markets. Mr. Lakhani most recently served as the Chief Investment Officer of Century Insurance, a Public Limited Company listed on the Karachi and Lahore Stock Exchanges of Pakistan. He was an Investment Associate at High Street Advisors and a Research Analyst at Credit Suisse Equity Group (formerly Credit Suisse First Boston). Mr. Lakhani brings extensive investment experience, globally practiced portfolio management discipline, and a comprehensive understanding of the global asset management industry to Lakson Investments Limited. Mr. Lakhani received his BA in Finance from Bentley College, and his MBA from Brandeis University.

Mr. Lakhani is the Chairman of Tritex Cotton Mills Ltd., a board member of the Mutual Fund Association of Pakistan (MUFAP), a member of the Global Association of Risk Professionals (GARP), the Society of Financial Service Professionals and the Young President's Organization (YPO). Mr. Lakhani is a member of the Alumni Trustee Committee of Brandeis University and is the school s representative in Pakistan.

TopMr. Muhammad Umair Chauhan - Chief Investment Officer

Mr. Muhammad Umair Chauhan has over seven (7) years of experience in the asset management industry of Pakistan. He has previously served as Vice President Investments & Research at IGI Funds Limited and was part of Investment & Research Team at Al Meezan Investment Management. In his previous assignments he managed PKR 12 billion in both equity and fixed income funds.

Mr. Umair received his MBA from the Institute of Business Administration, Karachi.

TopMr. Amir Mobin - Chief Financial Officer and Company Secretary

Mr. Amir has over 3 years of post qualification experience which includes working at IGI funds Limited as Head of Operations and National Clearing of Pakistan Limited as Manager-Operations. At IGI Mr. Amir has been actively involved in acquisition of the software application, preparation of manuals and operations related procedures. He has actively participated in the rating process of the company and was responsible for managing the settlement and Unit holder management functions. At NCCPL Amir has been an active member of the team responsible for the implementation of the Financial Institution Risk Management System. He has actively participated in the implementation of the CFS Mk-II. Further, he has worked on the concept paper of the Security Lending and Borrowing Module. He has worked with KPMG Taseer Hadi & CO. Chartered Accountants in various capacities for 5 years which includes 4 years of article ship. During his article ship he has conducted the audits of various asset management companies, brokerage houses, commercial banks and service sector entities. He has also performed due diligence assignments. Mr. Mobin is an Associate Member of the Institute of Chartered Accountants of Pakistan, graduated as Bachelors of Commerce from University of Karachi.

TopSyed Jawaid Raza - Head of IT & Operations

Mr. Raza has over seven years of technical and professional experience in Information Technology and possesses a strong understanding of the functions and rules and regulations governing the Pakistani capital markets. Prior to joining Lakson Investments Mr. Raza was heading the IT department of ABL Asset Management Company Limited. He has also experience of managing operations and IT at IGI Funds Limited and NAMCO. He has significant experience of implementation of ERP in Asset Management Companies. Mr. Raza was one of the initial team members of the asset management industry s first mutual fund specific software, developed by Sidat Hyder Morshed Associates (Pvt.) Limited, where he was responsible for providing technical and functional support to several DFI s, insurance and asset management companies. Mr. Raza holds an MCS from Hamdard University, Karachi and BCOM from the University of Karachi.

TopSyed Hassan Askary - Head of Investor Relations & Transfer Agency

Mr. Askary s career experience spans over thirteen years, starting with Aetna Retirement Services (USA) in the Investor Relations department, Fatima Jinnah Dental College & Hospital Trust as a Permanent Trustee and Director, Planning & Development and IGI Funds as Head Investor Relations. He coordinated the training of division-wide staff members to ensure that all incoming remittances are invested in a timely, accurate and consistent manner. Initially developed and implemented admin/management processes for IGI Funds. Mr. Askary implemented comprehensive Customer Relations Module. Managed retail sales team hiring plan/commission structure and provided training. At Fatima Jinnah Dental College he managed strategic initiative, developed human resources department and employee incentive program to increase employee retention rates. Mr. Askary re-organized existing facilities and

patient care processes to ensure operational profitability without affecting rates. Liaised with UNICEF on several key projects, and developed staff resources to implement initiatives. Mr. Askary holds a BSc in Management from the Central Connecticut State University, (USA) and MBA Marketing from Iqra University.

Company Profile
Our firm is not affiliated with any broker/dealer or banking institution. There is no proprietary trading, no market making and no investment banking. As a result, we are able to avoid conflicts of interest that may compromise what is best for our clients. Our focus is where it should be- on our investors, giving you yet another reason to "We manage your money, as we manage our own." Lakson Investments Limited, the investment management arm of The Lakson Group, is licensed by the Securities & Exchange Commission of Pakistan to provide asset management and investment advisory services under the Non Banking Finance Companies Rules, 2003 and Notified Entities Regulations, 2008. Lakson Investments currently manages 3 open-end funds. The funds are the Lakson Money Market Fund (LMMF), the Lakson Income Fund (LIF) and the Lakson Equity Fund (LEF). In addition to the open end funds, Lakson Managed Accounts offers bespoke investment management services for investors with a minimum of PKR 5 million in investable assets.

Tax Advantage
Under the applicable tax laws, no tax is applicable on returns if an investment in a mutual fund is held for more than one year. This is not the case with investments in bank deposits and other fixed income instruments (TFC s, Treasury Bills, Sukuks, Commercial Paper, etc. all) as they are subject to taxation. Any individual who invests in a Lakson Fund before June 30th, 2011 is eligible for a tax credit. The tax credit can be as high as PKR 75,000 on an investment of PKR 300,000 To gain the credit the investor must maintain the investment for one year. Below is a table showing the tax credit according to the tax bracket and type.

Salaried tax payer

Annual Taxable Income (Rs.) Tax Rate Applicable Amount Invested in Lakson Funds (Rs.) Amount on which tax credit is applicable Tax Credit (Rs.) 500,000 3.50% 300,000 50,000 1,750 1,000,000 9.00% 300,000 100,000 9,000 2,000,000 15.00% 300,000 200,000 30,000 4,000,000 18.50% 300,000 300,000 55,500 Exceeding 4,550,000 20.00% 300,000 300,000 60,000

Non-Salaried tax payer

Annual Taxable Income (Rs.) Tax Rate Applicable Amount Invested in Lakson Funds (Rs.) 500,000 7.50% 300,000 750,000 10.00% 300,000 1,000,000 15.00% 300,000 1,500,000 20.00% 300,000 3,000,000 25.00% 300,000

Amount on which tax credit is applicable Tax Credit (Rs.)

50,000 3,750

75,000 7,500

100,000 15,000

150,000 30,000

300,000 75,000

Please consult your tax advisor for your individual tax return as your situation may vary.

Overview
Lakson Investments believes that each investor is unique and requires a different portfolio allocation depending on their individual liquidity requirements, return expectations, risk appetite and investment horizon. A portfolio allocation determines how an investor distributes their investable assets between asset classes. In order to make this easier, transparent and tax advantageous we offer mutual funds allowing you to create a portfolio allocation to suit your risk profile. Mutual funds pool money from many investors and invest in financial markets. Mutual funds are managed by asset management companies which are regulated by the Securities and Exchange Commission of Pakistan. Lakson Investments offers 3 different mutual funds. The Lakson Money Market Fund (LMMF) is designed for those with a short-term investment horizon, the Lakson Income Fund (LIF) caters to those with an intermediate investment horizon and the Lakson Equity Fund (LEF) provides for diversified exposure to domestic stocks. For investors with a minimum of PKR 5 million in investable assets Lakson Managed Accounts offers a bespoke investment management service.

Lakson Money Market Fund

Fund Name
Lakson Money Market Fund

Asset Management Company

Lakson Investments Limited

Management Company Rating

Rated AM3 with (Positive Outlook) by PACRA

Fund Type
An Open-End /Money Market

Investment Objectives
The investment objective of the Lakson Money Market Fund is to provide stable and competitive returns inline with the money markets, exhibiting low volatility consistent with capital preservation by constructing a liquid portfolio of low risk short term investments.

Investment Strategy
In order to achieve the investment objective, LMMF will invest in instruments having a maturity not more than six (6) months while maintaining the weighted average maturity of the portfolio at less than three (3) months. LMMF will invest only in those securities that have been assigned at least AA rating by a rating agency in Pakistan. The Fund Management Team will conduct an in-depth credit analysis before taking any exposure to a counter party to mitigate the credit risk. The short maturity of the portfolio of LMMF (3 months) will protect the Unit Holders against medium and long term interest rate movements while enhancing the liquidity of LMMF.

OPERATIONAL DETAILS

Minimum Investment
Minimum investment amount is as low as PKR 5,000/- for Growth Units and PKR 100,000/for Income Units. Further re-investments can be made with as low as PKR 1,000/- only.

Types of Units

Growth Units & Income Units (for details please see OD)

Listing
LSE (Lahore Stock Exchange)

NAV (Net Asset Value) Calculation

Daily on all subscription days

Benchmark
Average of returns earned by Money Market Funds in the industry

Allotment of Units
On realization

Management Fee
The Management Company will charge a maximum fee of 1.25% p.a.

Load
None

Authorized Investments
LMMF is authorized to invest in the following instruments: Instruments Entity Rating Instrument Rating Max. Exposure

Government Securities: Treasury Bills and other short term Government Securities

100%

Deposits with Banks and Financial Institutions of maximum six (6) months maturity*

AA

AA

100%

Certificates of investment, musharaka, modaraba and deposit issued by Financial Institutions of maximum six (6) months maturity*

AA

AA

75%

Reverse Repo against Authorized Investments

50%

Money market placements with Banks and Financial Institutions including clean placements, letter of placements (LOP) of up to (6) months maturity*

AA

AA

75%

Commercial papers

AA

50%

Money market instruments issued, listed and traded outside Pakistan subject to regulatory approvals from the Commission and the State Bank of Pakistan

AA

AA

30%

Any other investment authorized by the Commission from time to time

AA or any other rating specified by the Commission.

AA or any other rating specified by the Commission.

50%

If Financial Institution is an NBFC or Modaraba then the entity / instrument rating should be at least AAA

SERVICE PROVIDERS

Trustee and Custodian

Central Depository Company of Pakistan Limited (CDC)

Auditors
KPMG Taseer hadi & Co

BENEFITS TO INVESTORS

No Load
No charges are applied at any time.

Competitive Returns
Through our diligent investment process, philosophy and reliance on fundamental based research, Lakson Funds shall strive to provide its unit-holders with competitive returns in compliance with the investment Objective.

Research
Our dedicated in-house research team plays critical role in making disciplined investment decision based on their fundamental analysis taking into account changes in company fundamentals. Market trends, macro-economic changes, and shifts in fiscal and monetary policy. Tax Credit for Individuals

Liquidity
Investors are able to invest and redeem to match their particular liquidity needs as and when they arise.

Easy Exit / Redemption

Lakson Investments strives to provide the facility of easy exit/redemption of units, however the constitutive document allows for upto six working days.

Diversification

All Lakson Funds strive to provide investors exposure to a truly diversified portfolio of instruments, thereby reducing the investors overall risk.

Tax Advantage
Under the applicable tax laws, investors in Mutual funds are exempt from Capital Gains Tax, if investment is held for a period of one year, while investments in bank deposits and other fixed income instruments (TFC s, Treasury Bills, Sukuks, Commercial Paper, et. Al) are subject to taxation.

Tax Credit
An investment in any Lakson Fund will also allow an individual to lower what they pay in taxes. The applicable tax laws provide for tax credit incentive to salaried investors and self-employed investors. The salaried investor can claim the tax credit (up to PKR 60,000 per year) and the self-employed investor can also avail themselves of the tax credit (up to PKR 75,000 per year). Investors are advised to consult their tax advisor prior to making an investment decision.

Zakat
Exemption from Zakat on submission of required affidavit. (CZ-50)

Risk Disclaimer:

y y

This information has been prepared by Lakson Investments for your general information and private use only. It does not constitute investment advice and is not intended to be an offer to buy or sell or a solicitation of an offer to buy or sell any securities mentioned. It should not be considered as an incentive to invest. The securities described in this document may not be eligible for sale or subscription in all jurisdictions or to certain categories of investors. This document is not intended for distribution to a person or within a jurisdiction where such distribution would be restricted or illegal. This document may not be conveyed to or used by a third party without our express consent. Any other use is not authorized. The information contained herein has been obtained from sources believed to be reliable and no member of Lakson Investments makes any warranty, expressed or implied, as to the accuracy or completeness of the information. All the information included in this presentation is current when this document is prepared and subject to changes at any time. Any forecast or projection or forward looking statement made in this document is not necessarily indicative of future or likely performance, future events or future financial performance of securities, countries, markets or companies. Such statements are only predictions and actual events or results may differ. Lakson Investments may from time to time provide services to the companies and their affiliates mentioned herein. Employees of Lakson Investments or persons/entities connected to them may from time to time have position in or are holding any of the securities mentioned in this document. No consideration have been given to and no investigation was made of your investment objectives, financial situation or particulars, and accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of you acting on such information or opinion or estimate. Lakson Investments expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on this the information in this document. You should consult your own legal, financial and other professional advisors, to ensure that any decision you make is suitable for you in the light of your circumstances and financial position.

Lakson Income Fund

Fund Name
Lakson Income Fund

Asset Management Company

Lakson Investments Limited

Management Company Rating

Rated AM3 with (Positive Outlook) by PACRA

Fund Type
An Open-End /Fixed Income Fund

Investment Objectives
The investment objective of the Lakson Income Fund ( LIF ) is to provide competitive total returns through investment in a diversified portfolio of fixed income securities. LIF shall invest in various fixed income securities with a mix of short term, medium term and longer term maturities depending on the assessment by the Management Company of interest rate trends and prospective returns.

Investment Policy
LIF shall be managed through a team-driven, top-down process utilizing active sector rotation, duration and yield curve management. Economic conditions will be constantly monitored by the Management Company to forecast interest rate changes. The added value for LIF will come from identifying opportunities to shift investments between various maturities and between different instruments. Rupee weighted average maturity of the LIF will be less than four (4) years and this condition shall not apply to securities issued by the Federal

OPERATIONAL DETAILS
Minimum Investment
Minimum investment amount is as low as PKR 5,000/- for Growth Units and PKR 100,000/for Income Units. Further re-investments can be made with as low as PKR 1,000/- only.

Types of Units
Growth Units & Income Units (for details please see OD)

Listing
LSE (Lahore Stock Exchange)

NAV (Net Asset Value) Calculation

Daily on all subscription days

Benchmark
Average of returns earned by Income Funds in the industry for the period of return.

Allotment of Units
Upon receipt of application forms.

Management Fee
The Management Company will charge a maximum fee of 1.5% p.a.

Front-End Load

y y

None No Front-end load for pre-IPO and IPO investors Investments after IPO will be subject to Front-end Load of 1.5 %

Back-End Load
None

Authorized Investments:
LIF is authorized to invest in the following instruments: Instruments Government Securities: Pakistan Investment Bonds, Federal Investment Bonds, Treasury Bills and other Government Securities Debt securities, including bonds, term finance certificates, sukuks, debentures, asset and mortgage debt securities and other debt securities Preference shares Reverse Repo against Authorized Investments Local and foreign currency deposits with Banks Deposits with Financial Institutions Certificates of investment, musharaka, modaraba and deposit Reverse Repo against Authorized Investments Continuous Funding System (or any other replacement) and spread transactions Money market placements with Financial Institutions, including letter of placement, clean placement and others Commercial papers Warrants, options and other such derivatives subject to obtaining separate prior approval of the Commission. Investment in such Entity Rating Instrument Rating Max. Exposure

100%

BBB+

A-

75%

BBB+ BBB+ A-

BBB+ BBB+ AA-

25% 50% 100% 75% 15% 15% 40%

A-

A-

75%

A-

50% 50% unless specified otherwise by the commission

instruments shall be for hedging purposes only Fixed income instruments issued, listed and traded outside Pakistan subject to regulatory approvals from the Commission and the State Bank of Pakistan Any other investment authorized by the Commission from time to time

Investment Grade

Investment Grade

30%

Investment Grade

Investment Grade

50% unless specified otherwise by the commission

SERVICE PROVIDERS
Trustee and Custodian
Central Depository Company of Pakistan Limited (CDC)

Auditors
KPMG Taseer hadi & Co

BENEFITS TO INVESTORS
No Load
No charges are applied at any time.

Competitive Returns
Through our diligent investment process, philosophy and reliance on fundamental based research, Lakson Funds shall strive to provide its unit-holders with competitive returns in compliance with the investment Objective.

Research
Our dedicated in-house research team plays critical role in making disciplined investment decision based on their fundamental analysis taking into account changes in company fundamentals. Market trends, macro-economic changes, and shifts in fiscal and monetary policy. Tax Credit for Individuals

Liquidity
Investors are able to invest and redeem to match their particular liquidity needs as and when they arise.

Easy Exit / Redemption

Lakson Investments strives to provide the facility of easy exit/redemption of units, however the constitutive document allows for upto six working days.

Diversification
All Lakson Funds strive to provide investors exposure to a truly diversified portfolio of instruments, thereby reducing the investors overall risk.

Tax Advantage
Under the applicable tax laws, investors in Mutual funds are exempt from Capital Gains Tax , if investment is held for a period of one year, while investments in bank deposits and other fixed income instruments (TFC s, Treasury Bills, Sukuks, Commercial Paper, et. Al) are subject to taxation.

Tax Credit

An investment in any Lakson Fund will also allow an individual to lower what they pay in taxes. The applicable tax laws provide for tax credit incentive to salaried investors and self-employed investors. The salaried investor can claim the tax credit (up to PKR 60,000 per year) and the self-employed investor can also avail themselves of the tax credit (up to PKR 75,000 per year). Investors are advised to consult their tax advisor prior to making an investment decision.

Zakat
Exemption from Zakat on submission of required affidavit. (CZ-50)

Risk Disclaimer:

y y

This information has been prepared by Lakson Investments for your general information and private use only. It does not constitute investment advice and is not intended to be an offer to buy or sell or a solicitation of an offer to buy or sell any securities mentioned. It should not be considered as an incentive to invest. The securities described in this document may not be eligible for sale or subscription in all jurisdictions or to certain categories of investors. This document is not intended for distribution to a person or within a jurisdiction where such distribution would be restricted or illegal. This document may not be conveyed to or used by a third party without our express consent. Any other use is not authorized. The information contained herein has been obtained from sources believed to be reliable and no member of Lakson Investments makes any warranty, expressed or implied, as to the accuracy or completeness of the information. All the information included in this presentation is current when this document is prepared and subject to changes at any time. Any forecast or projection or forward looking statement made in this document is not necessarily indicative of future or likely performance, future events or future financial performance of securities, countries, markets or companies. Such statements are only predictions and actual events or results may differ. Lakson Investments may from time to time provide services to the companies and their affiliates mentioned herein. Employees of Lakson Investments or persons/entities connected to them may from time to time have position in or are holding any of the securities mentioned in this document. No consideration have been given to and no investigation was made of your investment objectives, financial situation or particulars, and accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of you acting on such information or opinion or estimate. Lakson Investments expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on this the information in this document. You should consult your own legal, financial and other professional advisors, to ensure that any decision you make is suitable for you in the light of your circumstances and financial position.

Lakson Equity Fund

Fund Name
Lakson Equity Fund

Asset Management Company

Lakson Investments Limited

Management Company Rating

Rated AM3 with (Positive Outlook) by PACRA

Fund Type
An Open-End /Equity Fund

Investment Objectives
The investment objective of the Lakson Equity Fund is to provide long term capital appreciation by investing mainly in equity and related listed securities. Investments will be made in companies of substance, financial strength and demonstrably superior management skills with some exposure given to smaller capitalized value stocks.

Investment Policy
In order to achieve the above stated objective the Fund Management Team will adopt a combination of top-down and bottom-up methodologies to ensure that the market trends as well as value-picks are identified so that the portfolio can generate superior risk-adjusted returns. At least seventy per cent (70%) of the Net Assets of LEF will remain invested in equity securities during the year based on quarterly average investment calculated on daily basis. However, the asset allocation pattern may change from time to time keeping in view the market conditions, opportunities, political and economic factors.

OPERATIONAL DETAILS
Minimum Investment
Minimum investment amount is as low as PKR 5,000/- for Growth Units. Further re-investments can be made with as low as PKR 1,000/- only.

Types of Units
Growth Units with the option of receiving either cash dividend or bonus units at the time of dividend distribution.

Listing
LSE (Lahore Stock Exchange)

NAV (Net Asset Value) Calculation

Daily on all subscription days

Benchmark
KSE -100 index

Allotment of Units
On realization.

Management Fee
The Management Company will charge a maximum fee of 3% p.a.

Front-End Load

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No front-end load for pre-IPO and IPO investors investments after IPO may be subject to Front-end Load of up to 3%

Back-End Load
None

Authorized Investments:
LEF is authorized to invest in the following instruments: Instruments Listed Equity Securities Bank Deposits Treasury Bills Reverse Repo against Authorized Investments Listed equity securities issued, listed and traded outside Pakistan subject to regulatory approvals from the Commission and the State Bank of Pakistan Any other investment authorized by the Commission from time to time Entity Rating AAA Instrument Rating 70% 0% 0% Max. Exposure 100% 30% 30% 50%

30%

As specified by the Commission.

SERVICE PROVIDERS
Trustee and Custodian
Central Depository Company of Pakistan Limited (CDC)

Auditors
BDO Ebrahim & Company

BENEFITS TO INVESTORS
No Load
No charges are applied at any time.

Competitive Returns

Through our diligent investment process, philosophy and reliance on fundamental based research, Lakson Funds shall strive to provide its unit-holders with competitive returns in compliance with the investment Objective.

Research
Our dedicated in-house research team plays critical role in making disciplined investment decision based on their fundamental analysis taking into account changes in company fundamentals. Market trends, macro-economic changes, and shifts in fiscal and monetary policy. Tax Credit for Individuals

Liquidity
Investors are able to invest and redeem to match their particular liquidity needs as and when they arise.

Easy Exit / Redemption

Lakson Investments strives to provide the facility of easy exit/redemption of units, however the constitutive document allows for upto six working days.

Diversification
All Lakson Funds strive to provide investors exposure to a truly diversified portfolio of instruments, thereby reducing the investors overall risk.

Tax Advantage
Under the applicable tax laws, investors in Mutual funds are exempt from Capital Gains Tax , if investment is held for a period of one year, while investments in bank deposits and other fixed income instruments (TFC s, Treasury Bills, Sukuks, Commercial Paper, et. Al) are subject to taxation.

Tax Credit
An investment in any Lakson Fund will also allow an individual to lower what they pay in taxes. The applicable tax laws provide for tax credit incentive to salaried investors and self-employed investors. The salaried investor can claim the tax credit (up to PKR 60,000 per year) and the self-employed investor can also avail themselves of the tax credit (up to PKR 75,000 per year). Investors are advised to consult their tax advisor prior to making an investment decision.

Zakat
Exemption from Zakat on submission of required affidavit. (CZ-50)

Risk Disclaimer:

This information has been prepared by Lakson Investments for your general information and private use only. It does not constitute investment advice and is not intended to be an offer to buy or sell or a solicitation of an offer to buy or sell any securities mentioned. It should not be considered as an incentive to invest. The securities described in this document may not be eligible for sale or subscription in all jurisdictions or to certain categories of investors. This document is not intended for distribution to a person or within a jurisdiction where such distribution would be restricted or illegal. This document may not be conveyed to or used by a third party without our express consent. Any other use is not authorized. The information contained herein has been obtained from sources believed to be reliable and no member of Lakson Investments makes any warranty, expressed or implied, as to the accuracy or completeness of the information. All the information included in this presentation is current when this document is prepared and subject to changes at any time. Any forecast or projection or forward looking statement made in this document is not necessarily indicative of future or likely performance, future events or future financial performance of securities, countries, markets or companies. Such statements are only predictions and actual events or results may differ. Lakson Investments may from time to time provide services to the companies and their affiliates mentioned herein. Employees of Lakson Investments or persons/entities connected to them may from time to time have position in or are holding any of the securities mentioned in this document.

No consideration have been given to and no investigation was made of your investment objectives, financial situation or particulars, and accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of you acting on such information or opinion or estimate. Lakson Investments expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on this the information in this document. You should consult your own legal, financial and other professional advisors, to ensure that any decision you make is suitable for you in the light of your circumstances and financial position.

Lakson Managed Accounts

Lakson Managed Accounts caters to retirement funds (pension, gratuity and provident) and endowments by creating a bespoke retirement solution to assist the trustee in fulfilling their fiduciary duties. In managing your assets we believe in balancing your investment objectives with your tolerance for risk, your cash flow requirements and other factors. Experience has proven that asset allocation is a primary determinant of a portfolio s variability of return in any market condition. At the outset of our relationship with you, we focus on assessing both the quantitative and qualitative issues involved in setting up your asset allocation guidelines and making recommendations for your asset allocation plan. We gather and document all relevant details in an Investment Needs Assessment Questionnaire (INAQ). Some of the key factors considered in determining your objectives and documented in the INAQ include: Investment time horizon Liquidity and income needs Risk tolerance Investment constraints and restrictions Our goal is to develop an appropriate asset allocation customized to your firm s unique needs. Subsequently, we make strategic adjustments to your asset allocation as necessitated by changes in your needs and based upon the ever-changing risks, opportunities and relative value in the financial markets. Designed with one purpose in mind- to help you grow and preserve your assets- Lakson Investment s Investment Committee (IC) is comprised of our firm s most senior investment professionals. The IC meets at least weekly to: Assess the macroeconomic environment Identify risks, opportunities and relative value in the financial markets Set asset allocation guidelines for the major asset classes, sectors and individual stocks The Lakson Investments Team considers the IC s guidance in formulating your initial asset allocation and is continually alert for any changes necessary to keep your asset allocation on target. The result is confidence that your asset allocation is thoughtfully constructed and maintained to serve your needs over time.

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Please feel free to call us with any questions or to learn more about our other investment solutions. You can reach us on +92. 21 111.534.111 or by email on lma@laksoninvestments.com.pk

Daily Price

Fund LMMF LIF LEF

Offer 100.9792 102.6780 123.2346

Redemption 100.9792 101.1605 119.6452

Date Jun 30, 2011 Jun 30, 2011 Jun 30, 2011

Contact Us
Email: info@laksoninvestments.com.pk Call: Visit: Post: +92.21 111.534.111 and one of our customer representatives will help you. Our business office at Lakson Square, Building # 2, Sarwar Shaheed Road, Karachi. Lakson Square, Building # 2, Sarwar Shaheed Road, Karachi-74200. Pakistan