Introduction
Fund Type: Open Ended
Underlying index: KSE-100
Net Assets as of June 30, 2007: PkR 1,057 Mn

Sticking to our vision of innovation, AKDIML was the first management company to bring an “Index Fund” to the Pakistani capital markets.

AKDIML launched AKDITF in the fourth quarter of 2005 as a closed-end mutual fund tracking the KSE-100 index. Index funds are ideal for institutional and retail investors, as they offer an in-depth, well diversified and transparent instrument, at a low cost, versus individual stock picking.

An Index fund is a mutual fund that seeks to produce the same return that investors would get if they owned all the securities in a particular index, in the case of AKD Index Tracker Fund, the fund is tracking the KSE-100 index.

Majority of institutional and retail investors measure their performance by benchmarking it to an index. It is very difficult to consistently outperform an Index. In Pakistan, most Mutual Funds have failed to consistently outperform the KSE-100 Index in the long-run.

AKDITF invest its funds in equities, which are components of the KSE-100 Index in the same ratio as prescribed by the KSE (which is based on Market Capitalization). SECP allocated 90 days for the one time investment to ensure that the investment in individual stocks is done in a staggered, balanced manner, eliminating any chances for stock or market run-up. The Fund rebalances itself semi-annually according to the exact changes made in the KSE-100 index. As per practice Karachi Stock Exchange notifies the composition of 100-Index 15 days prior to the implementation. This gives AKDIML enough time to re-arrange its portfolio. To bring such exposure in line with the prescribed limit, AKDITF reserves the prerogative to sell the right allotment letters also. The Fund will not switch from one security to another on any circumstance, except where there is a re-composition in the KSE-100 index.

With a growing economy fueling Pakistan’s emerging markets, AKD Index Tracker Fund provides an excellent avenue for investors to participate in the growth of KSE-100 index.

The Board of Directors of AKD Investment Management Limited decided to convert the Fund into an Open-end Scheme. The prime objective of this conversion into an open-end fund was to provide maximum benefit to our Certificate Holders by:

- Reducing the discount between the Fund’s Net Asset Value against the secondary market quoted price.
- Enhance liquidity at a fair price (Net Asset Value).

Financial Results
  . Financial Results - Half Yearly '06
  . Financial Results - 3rd Quarter '06
  . Financial Results - Annual '06
  . Financial Results - 1st Quarter '07
  . Financial Results - Half Yearly '07
  . Financial Results - 3rd Quarter '07

Product Monitor
  . Product Monitor - December '05
  . Product Monitor - January '06
  . Product Monitor - February '06
  . Product Monitor - March '06
  . Product Monitor - April '06
  . Product Monitor - May '06
  . Product Monitor - June '06
  . Product Monitor - July '06
  . Product Monitor - August '06
  . Product Monitor - September '06
  . Product Monitor - October '06
  . Product Monitor - November '06
  . Product Monitor - December '06
  . Product Monitor - January '07
  . Product Monitor - February '07
  . Product Monitor - March '07
  . Product Monitor - April '07
  . Product Monitor - May '07
  . Product Monitor - June '07
  . Product Monitor - July '07

Documents
  . AKD Index Tracker Fund - Offering Document
  . AKD Index Tracker Fund - Trust Deed

Forms
  . AKD Index Tracker Fund - Investor Account Opening Form
  . AKD Index Tracker Fund - Purchase of Units Form
  . AKD Index Tracker Fund - Redemption of Units Form
  . AKD Index Tracker Fund - Service Request Form
  . AKD Index Tracker Fund - Pledge of Units Form