Performance data and analytics Sep-12Investment philosophy Asset allocation (%)

Equity Sep-12 Aug-12Cash 8.18 6.96 Equity 90.63 92.03 Other including receivables 1.18 1.01

Total 100.00 100.00

Key information Debt Sep-12 Aug-12Fund type Open end Cash 12.38 12.13 Category Shariah Compliant Voluntary Pension Scheme IJARA Sukuk Bond 83.73 84.64 Fund launch date 16 June, 2008 Other including receivables 3.89 3.23 Benchmark n/aManagement fee 1.50% Total 100.00 100.00 Front-end Load 3.00%Back-end Load NIL Money Market Sep-12 Aug-12Pricing mechanism Forward Cash 21.88 11.22 Trustee Central Depository Company of Pakistan Ltd. IJARA Sukuk Bond 58.64 68.22 Dealing Days & Cut-off time (Monday to Friday) 3:00 p.m. TDR 16.72 16.92 Auditor KPMG Taseer Hadi and Company Other including receivables 2.76 3.64 Risk profile Investor dependent Leverage NIL Total 100.00 100.00 AMC Rating AM2- (By JCR-VIS)

Equity sector breakdown (%)Net Assets (PKR mn) Sep-12 Aug-12JS - IPSF-Equity Sub Fund 51.07 Oil & Gas 32.53 32.38 JS - IPSF-Debt Sub Fund 46.41 Banks 14.75 14.65 JS - IPSF-Money Market Sub Fund 41.74 Construction & Materials 9.89 9.46

Food Producers 9.77 10.31 NAV (PKR) Automobile & Parts 8.23 8.73 JS - IPSF-Equity Sub Fund 200.86 Others 15.46 16.51 JS - IPSF-Debt Sub Fund 157.96 Total 90.63 92.03 JS - IPSF-Money Market Sub Fund 137.59

Top holding (%age of total assets)Performance (%) Rafhan Maize Products Ltd. 9.89

1M 1Y 2Y 3Y Launch Pakistan Petroleum Ltd. 9.01 JS - IPSF-Equity Sub Fund -0.90 24.06 77.01 72.98 100.03 Pakistan Oilfields Ltd. 8.46 JS - IPSF-Debt Sub Fund 14.10 10.82 25.97 37.15 57.30 The Hub Power Co. Ltd. 8.23 JS - IPSF-Money Market Sub F 11.33 10.06 19.75 26.75 37.01 Attock Cement Pakistan Ltd. 7.39

D. G. Khan Cement Co. Ltd. 7.36 Monthly performance (%) Annualised performance 1 Meezan Bank Ltd. 7.24

Fauji Fertilizer Co. Ltd. 6.98

FY13 FY12 FY13 FY12 FY13 FY12 Attock Petroleum Ltd. 5.11 Jul 4.86 2.54 10.34 8.44 9.37 9.02 Ghani Glass Ltd. 4.98 Aug 7.29 -2.04 34.70 27.20 18.15 13.76Sep -0.90 5.82 14.10 14.95 11.33 11.99 Investment Committee MembersOct 0.15 32.96 16.01 Mr. Rashid Mansur - Chief Executive OfficerNov -5.06 8.05 8.64 Mr. Khawar Iqbal - Chief Financial OfficerDec -5.94 -3.91 7.20 Dr. Ali Akhtar Ali - Chief Investment OfficerJan 9.23 23.47 10.73 Mr. Muhammad Salman Siddiqui, CFA - Fund Manager Feb 5.08 -0.76 3.69 Ms. Maleeha Mimi Bangash - Chief Strategy Officer Mar 5.78 -28.05 2.63 Mr. Assad H. Khan - Country Head Business DevelopmentApr 1.63 10.40 8.97 Mr. Zohaib Pervez, CFA - Head of Research & RMMay -0.55 12.61 8.89Jun 1.40 10.20 9.30 Contact usYTD 11.49 18.29 20.05 10.01 13.11 9.66 JS Investments Limited

Toll Free: 0800 - 00887E-mail: ir@jsil.com Website: www.jsil.com

Fund manager's reviewDisclosure for WWF Liability under Circular 17 of 2012

Disclaimer : This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in mutual funds are subject to market risks. The NAV based prices of units and any dividends/returns thereon are dependent on forces and factors affecting the capital markets. These may go up or down based on market conditions. Past performance is not necessarily indicative of future results.

Equity Debt 1 Money market 1

JS Islamic Pension Savings Fund (JS IPSF) is designed to provide a Halal and securesource of savings and retirement income to individuals according to the principles ofIslamic Shariah. JS IPSF is a portable pension scheme allowing individuals theflexibility of contributions and portfolio customization through allocation of suchcontributions among equity, fixed income and other Halal investment avenues suitedto their specific needs and risk profile.

In the month of September 2012, JS Islamic Pension Savings Equity Sub Fund, DebtSub Fund and Money Market Sub Fund delivered returns of -0.90%, 13.56% p.a and10.80% p.a. On YTD basis, the aforementioned funds delivered 11.49%, 19.87% p.aand 12.93%. The Fund's composition is tilted towards investments avenues that offerhigher risk-adjusted returns to the valuable pension clients.

JS Islamic Pension Saving Fund (JS IPSF)

The Fund/Scheme has not made provisions amounting to Rs. 1,105,740against Worker’s Welfare Fund (WWF) liability, if the same were made theNAV per unit/return of the Scheme would be lower by Rs. 2.23 (ESF), Rs.1.08 (DSF), Re. 0.72 (MMF) / 1.1% (ESF), 0.7% (DSF), 0.5% (MMF). Fordetails investors are advised to read the Note 7 of the latest FinancialStatements of the Scheme.

1 Annualized performance return is based as per MUFAP stated methodology.