The Fund seeks to provide its investors attractive income with concern for preservation of capital by investing in all fixed income and money market instruments of low risk and short duration to generate attractive rates of return. The Fund will seek to maintain a rupee-weighted average maturity of the investment portfolio of not more than 365 days.
BCSF is an open-end Fund.
The benchmark of the Fund is 6M KIBOR.
Yes, the Fund is listed on the Karachi Stock Exchange.
The par value of the Fund is Rs.10
Yes, besides regular investments, BCSF offers Systematic Investment and Systematic Withdrawal.
Systematic Investment is an income scheme which allows investors to invest small amounts of money in the Fund at regular intervals. Unit Holders may choose to systematically invest on a monthly, quarterly or half yearly basis.
In Systematic Withdrawal, Unit Holders can choose to redeem from their accounts at periodic intervals i.e. monthly, quarterly or half yearly. There are two types of systematic withdrawal (i) fixed option and (ii) appreciation option.
Fixed Option enables the Unit Holder to redeem a fixed amount on a monthly, quarterly or half yearly basis.
Appreciation Option enables the Unit Holder to redeem an amount equal to or a specific percentage (%) of the periodic (i.e. monthly, quarterly or half yearly) appreciation or NAV growth, if any.
Yes, BCSF charges upto 1% front end load on Regular Units and 0.5% on Systematic Units, but there is no back end load.
The minimum investment amount for both Regular and Systematic Investment is Rs.5000 and there is no limit on subsequent investments.
Yes, up to four joint holders are allowed in a single account
The current value of a unit holder’s investment can be calculated by multiplying the number of units held with the current day’s Net Asset Value (NAV). The Fund’s daily offer and redemption price will be available on the BMA website “www.bmafunds.com”.
For investments in BCSF, the investor has to first register themselves with the
Management Company by filling out an Account Opening form (individual or institutional). After registration, investors can invest in BCSF by filling out the Investment Form.
Individual investors will have to submit a copy of CNIC of the principal account holder and joint holders (if any) and Zakat Declaration Form (not applicable in case of non-Muslims).
In case of institutional investors, Board Resolution, Memorandum and Articles of Association, list of authorized signatories and copy of CNIC of authorized signatories has to be submitted.
Payment is acceptable in the form of crossed cheque, demand-draft or pay order. The instrument has to payable to “Trustee-BMA Chundrigar Road Savings Fund” (or Trustee-BCSF).
By default, units will be issued in electronic form, however, unit holders can request for physical certificates by filling out a certificate request form and paying a fee Rs. 100/- per certificate.
The Fund charges a management fee of 1.5% on the daily Net Assets.
Yes, Cash Dividend paid to investors will be subject to deduction of 10% withholding tax. However, no withholding tax will be deducted in case the management company distributes Bonus Units. Please note that the systematic withdrawal or income plan is not subject to any taxes.
Regulatory Authority and third parties.
The Securities & Exchange Commission of Pakistan (SECP) is the regulating authority for the Fund.
Muslim Commercial Financial Services (Pvt.) Ltd is the trustee of the Fund.
The legal adviser of the fund is KMS Law Associates.
The Auditor of the Fund is A. F. Fergusons & Co.
Technology Trade Private Limited is the Transfer Agent of the Fund.