1. Discover the potential
Introduction to
ABL Asset Management Co. Limited,
Products & Services

2. ABL AMC
One of the largest AMC in
Pakistan with AUMs of over
PKR 34 bn (US$ 330 mn)
Retail presence through over
1000 ABL branches; three
corporate offices
One of the highest ratings
(AM2) and largest capital
base in the industry
GIPS Compliant & the only
ISO-27001 Complaint AMC
in Pakistan
Financial Accounts of ABL
AMC’s funds have never
been qualified by any auditor
No SECP regulatory
reprimand or even a show
cause notice
Board of Directors of ABL Asset Management
NAME OCCUPATION POSITION
Sheikh Mukhtar
Ahmed
Director – Ibrahim Agencies, Ibrahim Fibers
and ABL
Chairman
Waseem Mukhtar
Director – Ibrahim Agencies, Ibrahim Fibers,
ABL & Arabian Sea Country Club
Director
Naeem Mukhtar
Director – Ibrahim Agencies, Ibrahim Fibers,
ABL & NMF - LUMS
Director
Tariq Mahmood CEO & President – ABL Director
Muhammad Kamran
Shehzad
Chairman – Bench Matrix (Pvt.) Limited &
Ex-Director SBP
Director
Kamran Nishat MD – Muller & Phipps Pakistan Director
Farid A. Khan, CFA CEO – ABL AMC CEO
 ABL Asset Management Co. Limited (ABL AMC) is a
wholly owned subsidiary of Allied Bank Limited (ABL).
With an equity base of over PKR 1.3 billion, ABL AMC is
licensed to undertake asset management and investment
advisory services.
2

3. CUMULATIVE INVESTMENT SCHEMES
Open End Mutual Funds
 A portfolio of funds to suit various investor
profiles
 Funds are listed on the Karachi Stock
Exchange
 Regulated by Securities and Exchange
Commission of Pakistan
 Extensive after sales services , including
on-line and call center
 Regular Income Plans and Systematic
Investment Plans available
ABL AMC – Product Portfolio
3

4. Launch
ABL-IF
SEPTEMBER
2008
DECEMBER
2008
JCR-VIS
assigns rating
to ABL AMC of
AM3
JUNE
2009
Launch of
ABL-SF
JULY
2010
Launch of
ABL-CF &
ABL-ICF
MARCH
2011
ABL AMC
becomes
GIPS
compliant
SEPTEMBER
2011
JCR-VIS
upgrades
rating of ABL
AMC to AM2-
NOVEMBER
2011
Launch of
ABL GSF
JUNE
2013
Launch of ABL-ISF
JCR-VIS upgrades
rating to AM2
DECEMBER
2012
ISO 27001
Certification
MARCH
2014
Launch of
ABL-IPPF
2
DECEMBER
2013
Launch of
ABL IPPF 1
Launch
of ABL
IPF &
ABL PF
SEPTEMBER
2014
ABL AMC – A Success Story
4
DECEMBER
2015
Launch of
ABL-IFPF
&
ABL-FPF

5. ABL AMC – The Only ISO 27001 Certified AMC in Pakistan
 ABL Asset Management Company Ltd is the first and the only Asset Management
Company in Pakistan to achieve ISO 27001Certfication for Information Security and Risk
Management. We are ISO 27001 compliant since 2012.
 ISO 27001 is a global standard of information security and vigorously tests the safety and
reliability of our investment management process, database and physical infrastructure.
With this achievement, our customers, employees, trading partners and stakeholders
should take comfort in the knowledge that our IT infrastructure, database and fund
management systems are secure and tested to comply with the highest global standards of
Information Security and Risk Management.
 This certification is important for us as we expand our electronic distribution platform and
push the boundaries of client service standards.
5

6. ABL AMC is GIPS Compliant
 ABL Asset Management (ABL AMC) follows the Global Investment Performance Standards
(GIPS) for the performance presentation of funds under its management. Developed by the
CFA Institute headquartered in USA, GIPS are a set of ethical standards for the
presentation and calculation of investment performance, designed to ensure fair
representation and full disclosure of a fund manager’s performance information.
 ABL AMC strongly believes in employing international best practices for performance
reporting to its clients and implementing GIPS will go a long way in serving this objective.
Pakistan is amongst the 30 countries in the world to adopt GIPS, and ABL AMC is the
second Asset Management Company to achieve GIPS Compliance in the mutual fund
industry in Pakistan.
 For our valued clients, compliance with GIPS would mean access to complete, fair and
transparent performance reporting, which is in line with globally recognized presentation
standards.
 To download the latest GIPS compliant performance information, please visit our website
www.ablamc.com
6

7. Our Fixed Income Funds
7

8. ABL Income Fund – Rich History of High Returns
* ABL Income Fund was launched on September 20, 2008
8
15.05%
12.50%
10.83%
12.65%
11.28%
6.94%
12.32%
10.64%
14.24%
12.78%
12.67%
13.25%
11.18%
9.49%
10.10%
7.62%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
2008 2009 2010 2011 2012 2013 2014 2015
ABL-IF 6 M-KIBOR
 ABL Income Fund (ABL-IF) is an open end, fixed income fund with no direct
exposure to the stock market.
 The objective of ABL-IF is to earn a superior risk adjusted rate of return by
investing in a blend of short, medium, and long-term debt instruments. The
fund primarily invests in bank deposits, government papers and corporate
bonds and looks to augment returns via active trading strategies.
 ABL-IF can benefit Investors who are comfortable with higher duration,
investment grade debt instruments and wish to earn competitive returns over
a medium term period.
A
2.02%
A+
6.35%
AA
26.39%
AA-
23.89%
AA+
9.65%
AAA
0.40%
Govt
Guranteed
Instrument
2.81%
Govt
Securities
21.67%
Credit Quality (% of Net Assets)
Other assets account for 6.83% of Total Assets
0%
10%
20%
30%
40%
50%
60%
70%
80%
31-Dec-14
14-Jan-15
28-Jan-15
11-Feb-15
25-Feb-15
11-Mar-15
25-Mar-15
8-Apr-15
22-Apr-15
6-May-15
20-May-15
3-Jun-15
17-Jun-15
1-Jul-15
15-Jul-15
29-Jul-15
12-Aug-15
26-Aug-15
9-Sep-15
23-Sep-15
7-Oct-15
21-Oct-15
4-Nov-15
18-Nov-15
2-Dec-15
16-Dec-15
30-Dec-15
ABL IF 6 Months KIBOR Average

9. ABL Government Securities Fund – Secured Returns
 ABL Government Securities Fund is an Open-end Income Scheme
Fund.
 The objective of ABL-GSF is to deliver optimal risk adjusted returns by
investing mainly in a mix of short to long term Government Securities
and other debt Instruments.
 It is ideal for Investors with a short and medium term investment
mindset.
* ABL Government Securities Fund was launched on November 30, 2011
9
9.02%
12.80%
7.90%
14.71%
10.54%
10.59%
9.85%
8.52%
9.05%
6.54%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
2011 2012 2013 2014 2015
ABL-GSF Benchmark
AA
33.14%
AA-
17.81%
AA+
10.74%
Govt
Securities
34.78%
Credit Quality of Portfolio (% of Assets)
Other assets account for 1.58% of Total Assets
0%
10%
20%
30%
40%
50%
60%
70%
31-Dec-14
21-Jan-15
11-Feb-15
4-Mar-15
25-Mar-15
15-Apr-15
6-May-15
27-May-15
17-Jun-15
8-Jul-15
29-Jul-15
19-Aug-15
9-Sep-15
30-Sep-15
21-Oct-15
11-Nov-15
2-Dec-15
23-Dec-15
ABL GSF
70%- Average 6M PKRV & 30% average 3 Months Deposit rates
of AA- & above rated Banks

10. ABL Cash Fund – High Liquidity and Returns
* ABL Cash Fund was launched on July 30, 2010
10
11.06%
12.20%
10.25%
8.00%
8.72%
7.81%
7.69%
7.52%
7.01%
6.36%
6.82%
4.77%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
2010 2011 2012 2013 2014 2015
ABL CF Benchmark
 ABL Cash Fund (ABL-CF) is an open end, money market fund with no
direct or indirect exposure to shares, TFCs and long term debt instruments.
 The objective of ABL-CF is to provide investors, consistent returns with a
high level of liquidity, through a blend of money market and sovereign debt
instruments.
 It benefits Investors' seeking low risk investments and consistent returns
with ready access to funds.
AA
26.05%
AA+
37.18%
AAA
14.35%
Govt
Securities
22.05%
Credit Quality of Portfolio (% of Assets)
Other assets account for 0.38% of Total Assets
5%
6%
7%
8%
9%
10%
11%
12%
31-Dec-14
14-Jan-15
28-Jan-15
11-Feb-15
25-Feb-15
11-Mar-15
25-Mar-15
8-Apr-15
22-Apr-15
6-May-15
20-May-15
3-Jun-15
17-Jun-15
1-Jul-15
15-Jul-15
29-Jul-15
12-Aug-15
26-Aug-15
9-Sep-15
23-Sep-15
7-Oct-15
21-Oct-15
4-Nov-15
18-Nov-15
2-Dec-15
16-Dec-15
30-Dec-15
ABL CF
50%- Average of 3Month Bank Deposit Rate & 50% -
3M PKRV (net of expenses)

11. ABL Islamic Income Fund – Pure and Steady Profits
* ABL Islamic Income Fund was launched on July 30, 2010
11
9.16%
11.27%
10.83%
7.85%
9.24%
7.24%
6.97%
7.81%
6.80%
6.59%
6.77%
6.16%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
2010 2011 2012 2013 2014 2015
ABL IIF Benchmark
 ABL Islamic Income Fund (ABL-IIF) is a Shariah Compliant, Open End,
Income Fund which primarily invests in Sukuks, money market instruments
and deposits with Islamic counters.
 The objective of ABL-IIF is to provide investors with an opportunity to earn
higher income over the medium to long-term by investing in a diversified
portfolio consisting of different money market and debt instruments
permissible under the Shariah principles.
 ABL-IIF benefits Investors seeking Shariah Compliant, moderate risk
investments entailing competitive returns. The fund maintains sufficient
liquidity thus can be used for both short term and long term investment
needs.
A
11.22%
A-
0.03%
A+
43.12%
AA
26.34%
AA-
6.30%
GoP Ijarah
Sukuk
0.15%
Credit Quality of Portfolio (% of Assets)
Other assets account for 0.64 % of Total Assets
6%
7%
8%
9%
10%
11%
12%
13%
31-Dec-14
14-Jan-15
28-Jan-15
11-Feb-15
25-Feb-15
11-Mar-15
25-Mar-15
8-Apr-15
22-Apr-15
6-May-15
20-May-15
3-Jun-15
17-Jun-15
1-Jul-15
15-Jul-15
29-Jul-15
12-Aug-15
26-Aug-15
9-Sep-15
23-Sep-15
7-Oct-15
21-Oct-15
4-Nov-15
18-Nov-15
2-Dec-15
16-Dec-15
30-Dec-15
ABL IIF
Average of 6 Month Deposit Rate of 3 Islamic Banks

12. ABL Stock Fund
* ABL Stock Fund was launched on June 28, 2009
29.39%
26.33%
1.07%
54.52%
50.48%
32.78%
8.13%
28.9%
17.7%
-12.2%
35.2%
36.65%
10.43%
-9.19%
-20.00%
-10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
2009 2010 2011 2012 2013 2014 2015
ABL-SF KSE-30
12
-10%
-5%
0%
5%
10%
15%
20%
1-Jan-15
14-Jan-15
27-Jan-15
9-Feb-15
22-Feb-15
7-Mar-15
20-Mar-15
2-Apr-15
15-Apr-15
28-Apr-15
11-May-15
24-May-15
6-Jun-15
19-Jun-15
2-Jul-15
15-Jul-15
28-Jul-15
10-Aug-15
23-Aug-15
5-Sep-15
18-Sep-15
1-Oct-15
14-Oct-15
27-Oct-15
9-Nov-15
22-Nov-15
5-Dec-15
18-Dec-15
31-Dec-15
KSE-30 ABL SF
Top 10 Holdings 30-Nov-15 31-Dec-15
Hub Power Company 7.07% 6.19%
Engro Corporation 5.58% 5.23%
United Bank Limited. 5.83% 5.01%
D.G khan Cement 4.91% 4.85%
Hascol Petroleum 6.91% 4.83%
Oil & Gas Development Co. 3.14% 4.29%
Lucky Cement. 4.30% 3.73%
Amreli Steels Limited 0.00% 3.51%
Kot Addu Power Co. 4.04% 3.34%
Engro Fertilizer. 3.92% 3.15%
 ABL Stock Fund (ABL-SF) is an open end equity fund.
 ABL Stock Fund aims to provide higher risk adjusted returns to the
investors by investing in diversified portfolio of equity instruments
offering capital gains and dividends.
 Investors who wish to beat inflation & get superior long-term returns
should consider investing in stock fund.

13. ABL Islamic Stock Fund
* ABL Islamic Stock Fund was launch on June 11, 2013
9.89%
22.15%
51.29%
6.68%
19.57%
47.97%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
2015 2014 Since Inception*
ABL ISF KMI-30
13
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
1-Dec-14
15-Dec-14
29-Dec-14
12-Jan-15
26-Jan-15
9-Feb-15
23-Feb-15
9-Mar-15
23-Mar-15
6-Apr-15
20-Apr-15
4-May-15
18-May-15
1-Jun-15
15-Jun-15
29-Jun-15
13-Jul-15
27-Jul-15
10-Aug-15
24-Aug-15
7-Sep-15
21-Sep-15
5-Oct-15
19-Oct-15
2-Nov-15
16-Nov-15
30-Nov-15
14-Dec-15
28-Dec-15
KMI 30
ABL ISF
Top 10 Holdings 30-Nov-15 31-Dec-15
Engro Corporation 5.83% 7.11%
Hub Power Company 6.16% 6.39%
Lucky Cement 6.43% 6.18%
D.G. Khan Cement 4.88% 5.50%
Oil & Gas Development Co. 2.58% 4.61%
Hascol Petroleum 6.87% 4.33%
Kot Addu Power Company 4.53% 4.04%
Amreli Steels Limited 0.00% 3.97%
Packages Limited 4.20% 3.78%
The Searle Company Limited 2.63% 3.27%
 ABL Islamic Stock Fund (ABL-ISF) is an Open-end, Islamic
Equity Fund which primarily invests in equity markets under
Shariah principles.
 ABL-ISF's objective is to provide investors with higher risk
adjusted returns by investing in a diversified portfolio of equity
instruments offering capital gains and dividends permissible
under the Shariah principles.
 Investors who are seeking Shariah complaint, investment
opportunity to tap the enormous potential of Pakistan's equity
markets and earn halal profits.

14. ABL Islamic Principal Preservation Fund II
* ABL Islamic Principal Preservation Fund II was launched on March 31, 2014
Shariah
Compliant
Equity
Investments
46.07%
Bank
Balance and
others
53.93%
Asset Allocation (%)
*Sorted on inception returns
14
-2%
3%
8%
13%
18%
1-Dec-14
15-Dec-14
29-Dec-14
12-Jan-15
26-Jan-15
9-Feb-15
23-Feb-15
9-Mar-15
23-Mar-15
6-Apr-15
20-Apr-15
4-May-15
18-May-15
1-Jun-15
15-Jun-15
29-Jun-15
13-Jul-15
27-Jul-15
10-Aug-15
24-Aug-15
7-Sep-15
21-Sep-15
5-Oct-15
19-Oct-15
2-Nov-15
16-Nov-15
30-Nov-15
14-Dec-15
28-Dec-15
ABL IPPF II
Benchmark
16.59%
15.70%
15.20%
15.40%
15.60%
15.80%
16.00%
16.20%
16.40%
16.60%
16.80%
ABL IPPF II Benchmark
Since Inception
 To provide higher risk adjusted return through dynamic asset
allocation between Shariah Compliant Equity & Income/Money
Market Scheme while preserving the principal at maturity.
 Ideal for investors who desire capital preservation and at the
same time get the most out of returns by taking maximum
exposure to Shariah compliant equities.
 ABL IPPF II is a closed end fund which is due to expire in March
2016.

15. Portfolio Management Services
15

16. Discretionary
Management
ABL AMC takes investment
decisions based on set
parameters
Non Discretionary
Management
Joint decision making with the
client based on agreed
parameters
 In-house portfolio
management
 Fund manager (FM) takes
investment decisions within
parameters defined in
investment policy
 FM takes responsibility to
beat the hurdle rate
 Client owns the asset
 Transparent reporting on
agreed formats
 Risk Management and
Compliance reporting
 In-house portfolio
management
 Execution after a
consultative process
 Investor has the right to
refuse or modify FM’s view
 Periodic portfolio review and
idea sharing
 Client owns the asset
 Risk Management
 Access to unique, high
conviction ideas
 Periodic interaction with
trustees
 Investment advice based on
market dynamics and
economic fundamentals
 Execution may rest with the
client
 Access to unique, high
conviction ideas
 Client owns the asset
 Final decision making, risks
and rewards lie with the
client
Managed Account Services
Advisory Services
ABL AMC suggests investment
ideas & strategies the
decisions rest solely with the
investor
16

17. Conservative
- Cash
management
- Low risk
- Near term
liquidity needs
Moderate
- Medium term view
- Predictable Inflow
/ Outflow equation
- Inflation-beating
returns
Aggressive
- High risk adjusted
returns
- High duration and
higher sensitivity to
market movements
- Long term view
The Risk-Reward Spectrum
17

18. Discretionary
Management
Non Discretionary
Management
 Flat fee as a percentage
of funds
 Performance fee based on
agreed hurdle rate
 Combination of both
 Annual charges
 Flat fee as a percentage
of funds
 Performance fee based on
agreed hurdle rate
 Combination of above
 Annual charges
 Retainer ship basis
 On a periodic basis
 As and when required
basis
Managed Account Fee Structure
Advisory Services
s
 Fee structure depends on types of services required and can be discussed once the scope
of the mandate has been finalized.
 Since ABL does not have a subsidiary broker, there is absolutely no third party interest
associated with any of the above mandates.
18

19. Sample Client Ownership Profile
* As per client instructions and Company policy, investment amount of clients can not be disclosed
Public Sector Enterprises
19

20. Sample Client Ownership Profile
* As per client instructions and Company policy, investment amount of clients can not be disclosed
Private Sector Enterprises
20

21. OUR PEOPLE
21

22. Profile of CEO
Farid Ahmed Khan, CFA
Chief Executive Officer
Farid Ahmed Khan, CFA is the CEO of ABL Asset Management. He has been involved with capital markets
for over 20 years and has a broad-based, global experience with bulge bracket firms in Fund Management,
Investment Banking, Investment Research and Sales, Business Development & Project Finance. He joined
ABL AMC from Credit Suisse, where he was the Country Manager of Credit Suisse Pakistan. Prior to that, he
worked for MCB, initially as Head of Investment Banking Group and later as the CEO of MCB Asset
Management. Farid has extensive experience outside Pakistan, having worked at Morgan Stanley, ING
Barings Securities and CLSA Emerging Markets in Kuala Lumpur, London and Istanbul in a variety of senior
positions. Farid also serves on the boards of NADRA Authority, CFA Association of Pakistan and MUFAP and
is also a member of Corporate Leaders Advisory Board of IBA, Karachi.
He holds an MBA in Finance from Institute of Business Administration, Karachi and got his CFA qualification
in 1998.
During his career, Farid has earned several distinctions and awards, such as:
 Member of 1st Banking Research team for Europe 2002
 Member of 1st Banking Research team for Europe 2003
# 1 ranked salesperson for Pakistan 2009
# 2 ranked research analyst for Pakistan 1997
22

23. Muhammad Imran
Chief Investment Officer
Muhammad Imran is the Chief Investment Officer of ABL Asset Management. With over 14 years of
diversified experience in Treasury and Fund Management, he has held different senior positions in leading
financial institutions. Before joining ABL Asset Management, he was Senior Fund Manager at MCB Asset
Management. Prior to that, he was associated with AMZ Asset Management as Head of Fixed Income
Funds and was instrumental in establishing the company, developing its treasury systems and successful
launching of different open ended funds. He also worked for Arif Habib Investment in Fixed Income Fund
Management side and has also had successful stints at Saudi Pak Leasing Company Limited and Pakistan
Emerging Ventures Limited. Devising strategies to earn profit from market inefficiencies is his key strength
and his views on financial markets are much sought after by participants and regulator alike. Imran is an
MBA in Finance and is one of the elected directors of Financial Market Association of Pakistan (FMAP).
Key Personnel
Syed Khalid Husain
Head of Business Development
Syed Khalid Husain brings with him 32 years of rich experience of Banking, both in Corporate and Retail,
sectors. His last position was Head of Karachi City Region of Allied Bank, which is the largest region of
Pakistan for ABL in terms of business. He was also looking after the Corporate Deposits of Sindh and
Baluchistan Provinces .He has participated in Seminars and Training Programs within Pakistan and abroad.
He has represented Allied Bank in the International Banking course organized by State Bank Of Pakistan in
which 20 Countries Participated. He has also worked as Chief Manager in the Top Business Branches of
Karachi and under his supervision these branches won the Best Branch of Pakistan Best Branch of Sindh
awards. .
23

24. Profile of Fund Management Team
Faizan Saleem
Fund Manager – Fixed Income
Faizan is involved in Portfolio & Investment Management at ABL Asset Management Company (ABL
AMC). He joined ABL AMC in 2010 as a Senior Dealer Fixed Income Funds and has more than 6 years
of investment experience. He is an MBA in Finance from SZABIST and has passed CFA Level II
examination. Before joining ABL AMC, he was associated with UBL Fund Managers for 2 years as an
Assistant Manager - Fixed Income Funds where he was the member of core investment team. Prior to
UBL Funds, he worked with Akhai Capital Management as a Foreign Exchange Inter bank trader.
Currently, he is looking after ABL Government Securities fund (ABL- GSF), ABL Income Fund (ABL IF)
and ABL Cash Fund (ABL CF) as a fund manager. He is also responsible for assessment and
construction of fixed income discretionary portfolios managed by ABL AMC.
Syed Abid Ali
Fund Manager - Equities
Syed Abid Ali brings a rich experience of seven years in Research with in depth understanding of Oil
Marketing, Exploration & Production, Cement, Power and Petrochemical sectors. Prior to joining ABL
AMC, Abid has worked for 5 years with Arif Habib Limited as an Assistant Vice President, where he
focused on sell side research and assisted investment banking team on privatization and IPO mandates.
Before joining AHL, he was working as an Equity Analyst with Taurus Securities Limited. Abid holds an
MBA degree from Karachi University Business School..
24

25. Shariah Advisor – Mufti Irshad Ahmad Aijaz
 Mufti Irshad Ahmad Aijaz is the Shariah Advisor of Fortune Islamic
Services and also serves as the resident Shariah Advisor of Bank Islami
Limited.
 Mufti Irshad has to his credit development of several Shariah Compliant
financial structures and has been a pioneer in the Islamic banking
industry.
 He is a member of the Shariah Advisor’s forum of the State Bank of
Pakistan.
 Mufti Irshad also heads the task force for the implementation of Islamic
finance in the area of agriculture and farming finance facilities.
 Mufti Irshad completed his takhassus fil ifta from Jamia Dar ul uloom
Korangi and has an MBA in finance from Iqra University.
 He is also teaching Islamic Finance and related courses at different
universities as well as institutions such as NIBAF, CIE and the guidance
institute for Islamic Finance.
25

26. Why ABL AMC Is Your Preferred Partner
A sense of trust and confidence
driven by a multi-billion dollar
franchise with a proven track
record of over 70 years.
Fastest growing local fund
manager with the highest equity
base in the sector and a very
strong parent.
An experienced fund
management team
boasting exposure to
both local and
international markets.
Top performing stock fund
delivering over 450% return since
2009. One of the best performing
Income and Money Market Funds.
Complete in-house
service suit from
research to settlement
to compliance.
No conflicts and no third parties
involved. No in-house brokerage. All
funds are managed separately and as
per mandate
Excellent track record of
managing public funds with a
verifiable history of providing
consistent and competitive returns
A commitment to low operating
expenses — among the lowest
in the fund industry
First ISO-27001 certified AMC
in Pakistan and only the
second AMC in Pakistan to be
GIPS compliant.
26

27. Thank you