Cooling Off Rights
The unit holders have the right to obtain a refund of their first time investment (Cooling off) in a particular open end mutual fund; This right is available to individual unit holder only; The cooling off period shall comprise of three business days commencing from the date of issuance of initial Account Statement to the unit holder; The cooling off right shall be exercised by the unit holder upon written request (referred to the concerned clause of redemption)to NBP Funds within the time specified in above mentioned point; The refund of every unit held by the unit holder pursuant to the exercise of a cooling off right should be an amount equal to NAV per unit applicable on the date the cooling off right is exercised which is payable within six business days from the receipt of written request; NBP Funds shall refund the Front end load ( Sales Load) paid by the unit holder, however contingent load (Back end load) will be payable by the unit holder where applicable.
I understand that if fund to fund transfer request is submitted after the cut-off timings, that transaction will be processed on the next working day and that I would not hold NBP Funds and Trustee responsible for any loss consequent to such processing of fund to fund transfer request on the next working day.
In case of submission of Instruction in respect of Services, the NBP FUNDS system date and time stamp will solely be considered and given precedence to determine the cut-off time in which the application request is submitted and the applicability of the NAV on the transaction. NBP FUNDS will not be responsible for any network or system delays in submitting and receiving the application request.
I accept that my investments is subject to market risks and a target return / dividend range or capital protection cannot be guaranteed. I clearly understand, agree, acknowledge and accept that my investment is subject to market price fluctuations and other risks inherent in all such investments. The risks emanate from various factors which include, but are not limited to, market risks, government regulation risks, credit risks, liquidity risks, settlement risks, redemption risks, Shari’ah non-compliance risks, dividend distribution taxation risks, and changes in risks associated with trading volumes, liquidity and settlement systems in equity and debt markets. Past performance is not necessarily indicative of future results. Investment in mutual funds are not bank deposits and are neither issued by, insured by, obligation of, nor otherwise supported by SECP, any Government Agency, Trustee (except to the extent specifically stated in the constitutive documents) or any of the shareholders of NBP Fund Management Limited or any of the Pre-IPO Investors or any other bank or financial institution. For further details, please refer to the detailed risk disclosures and disclaimers contained in the Offering Documents/Supplementary Offering Documents and the latest Fund Manager Report available on our website or by calling or writing to us. The use of the name and logo of National Bank of Pakistan does not mean it is responsible for the liabilities/ obligations of the Company (NBP Fund Management Limited) or any investment scheme managed by it.
Fund Transfer –Declaration
- I understand that as a result of switching to another fund, my risk / return characteristics may change significantly.
- I will not claim Repatriation from Pakistan of Dividends and sales proceeds of the units except as permissible under the rules of State Bank of Pakistan or Ministry of Finance, Government of Pakistan.
- I have read and understood the Trust Deeds, Offering Documents and/or Supplementary Offering Documents of the respective Fund and especially the clauses that relate to the risks involved, and the maximum rate of sales load charged. [Note: Sales load of up to 1.5% of the NAV per unit will be charged on online transactions. For actual level of Front-end load, kindly read the Offering Document and/or Supplementary Offering Documents of the respective Funds.]
- I agree to abide by the Terms & Conditions, Rules and Regulations of the respective Fund(s); Dividend (if any) will be re-invested automatically (Net of Tax) unless opted otherwise.
- I understand that investment in funds with an Equity & Bonds / Sukuks exposure carries relatively higher risk.
- I understand that if transaction is received by NBP Funds after the cut off time, that transaction will be processed on the next working day and that I/we would not hold NBP Funds responsible for any loss consequent to such processing of Investment form on the next working day.
- I acknowledge and confirm that I am relying only on the information provided in the Trust Deeds, Offering Documents and/or Supplementary Offering Documents. And I will not rely upon any communication, whether written or oral and in form which may be contrary to the contents of the Trust Deeds, Offering Documents and/or Supplementary Offering Documents.
- I hereby confirm that I/we have reviewed, read and understood the latest Fund Manager Report and/or Fact Sheet in case of new CIS including details of the total expense ratio of the Fund, the management fee, selling and marketing expenses, contingent load, etc. and understand that the same is available and updated on NBP Funds website from time to time.
- I understand that there is no guarantee for capital preservation / protection and/or returns / profit on investments made by me.
- I understand that transfer from one Fund to another Fund through Exchange of Unit are by nature considered redemption and are paid out from investment balance of the transferor fund which includes both principal and / or profit (if any). Hence, investment balance of transferor fund will deplete as a result of such transaction.
- I am fully informed and understand that investment in units of Mutual Fund/ CIS are not bank deposit, not guaranteed and not issued by any person. Shareholders of AMCs are not responsible for any loss to investor resulting from the operations of any CIS launched/ to be launched by AMC (in future) unless otherwise mentioned.
- I / We hereby agree and give consent to NBP Fund Management Limited for performing Know-Your-Customer related verification, including but not limited to Identity Verification (NADRA Verisys), Bank Account Number / IBAN and Mobile Number verification and/or any other verification as may be required pursuant to regulatory requirement(s) either on its own or through third party service provider. This consent will also be binding on the ultimate beneficial owner or third party transactions (where applicable).