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| A' Rated |
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| Ratings reflect an independent, professional and impartial assessment of the credit risk associated with a particular debt instrument or a corporate entity. An 'A' rating implies a high credit quality rating. In Pakistan ratings are assigned by PACRA or JCR-VIS
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| Askari Bank |
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| Askari Bank Limited
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| Account Statement |
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| The statement of transactions in Units in the folio of the holder.
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| AAAF |
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| Askari Asset Allocation Fund
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| AIM |
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| Askari Investment Management Limited
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| Back-end Load |
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| Back-end load is sales load deducted from the NAV in determining the Redemption Price.
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| Business day |
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| A day on which banks are open for business.
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| Certificate |
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| A document acknowledging the number of Units registered in the name of the holder.
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| CFS |
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| Continuous Funding System - Term coined to define the relatively new system of leveraged equity financing currently in use at the Karachi Stock Exchange, and planned for the other stock exchanges in the country. In this system, lenders lend money to the exchange to fund leveraged buyers in return for shares of certain large cap companies as collateral.
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| Class A |
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| Units exempt from sales load.
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| COL |
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| Certificiates of Investment - Nomenclature used to describe uncollateralized lending to non-banking financial companies in Pakistan.
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| Diversification |
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| A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance.
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| Front-end Load |
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| A mutual fund commission or sales fee that is charged at the time shares are purchased.
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| Fund Manager |
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| The person whose responsibility it is to oversee the allocation of the pool of money invested in a particular mutual fund. The fund manager is charged with investing the money to attain the returns and level of risk of the mutual fund investors.
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| JCR-VIS |
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| Japan Credit Rating Agency Limited - Vital Information Services (Pvt) Limited.
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| Management Company |
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| The firm that organizes, manages, and administers a mutual fund.
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| Management Fee |
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| A fixed fee that a mutual fund manager charges investors for his services and work with the fund.
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| Mutual Fund |
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| A mutual fund is simply a financial intermediary that allows a group of investors to pool their money together with a predetermined investment objective.
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| NAV |
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| Net Asset Value - Calculated as the total value of assets minus the total amount of liabilities, divided by the number of units issued
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| NBFC |
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| Non-Banking Finance Companies
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| Offering Document |
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| Offering document is the prospectus or other document, which contains the investment and distribution policy and all other information in respect of the Unit Trust, as, required by the Rules and is calculated to invite offers by the public to invest in the Unit Trust.
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| Open End |
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| A mutual fund that continues to sell units to investors, and will buy back units when investors wish to sell.
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| PACRA |
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| Pakistan Credit Rating Agency Limited.
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| Registrar |
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| The organization, usually a bank or a trust company, that maintains a registry of the share owners and number of units held for a mutual fund, bond or stock, and makes sure that more units are not issued than are authorised.
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| Reverse Repurchase Agreement |
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| Also known as private badla, in which leveraged equity financing is done through an agreement with a private counterparty (usually a broker), which is collateralized or over collateralized by holding the equivalent (or higher) value of shares from the borrower, depending on the creditworthiness of the borrower.
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| Rules |
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| the Asset Management Companies Rules 1995, as amended from time to time.
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| SECP |
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| Security and Exchange Commission of Pakistan
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| Security Sell/Buy Transactions |
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| Reverse repo, for short), in which the fund agrees to sell securities to a counterparty and simultaneously agrees to buy them back at a discount at a later fixed date.
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| Stock Exchange |
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| Any stock exchange company registered under section 5 of the Securities and Exchange Ordinance. Such as Karachi Stock Exchange, Lahore Stock Exchange and Islamabad Stock Exchange.
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| TFC |
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| Term Finance Certificate - A debt instrument issued by various financial and non financial entities in Pakistan, usually with a fixed term to maturity.
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| Transfer Agent |
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A company appointed by the Management Company for performing the Registrar Function.
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| Trustee |
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| An agent, bank, trust company, or other organization which holds and safeguards an individual's, mutual fund's, or investment company's assets for them.
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| Unit |
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| One undevided share in the trust.
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| Unit Holder |
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| The investors entered in the register as owner of Unit(s), including investors jointly so registered pursuant to the provisions of the Trust Deed.
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