Arif Habib Investments – Daily Prices for December 31, 2014

Name of the Fund                                                                Date           Offer     Repurchase      NAV

Pakistan Stock Market Fund (PSM)                                         December 31, 2014     75.56       73.54

Pakistan Income Fund (PIF)                                               December 31, 2014     56.88       55.36

Pakistan Capital Market Fund      PCMF                                   December 31, 2014     10.64       10.36

Pakistan International Element Islamic Fund of Arif Habib (PIEIF-A)      December 31, 2014     60.03       58.43

MetroBank Sovereign Fund Pakistan (MSFP)                                 December 31, 2014     55.61       54.50

Pakistan Strategic Allocation Fund                                       December 31, 2014     10.88       10.59

Pakistan Cash Management Fund (PCF)                                      January  02, 2014     52.1886     52.1886

Pakistan Income Enhancement Fund (PIEF)                                  December 31, 2014     56.51       55.00

MCB Cash Management Optimizer                                            January  02, 2014    104.3697    104.3697

MCB Dynamic Allocation Fund                                              December 31, 2014     82.5435     79.2401

MCB Dynamic Cash Fund                                                    December 31, 2014    110.4912    108.2803

MCB Islamic Income Fund – TYPE A                                         December 31, 2014    104.7603    102.6640

Pakistan Sarmaya Mehfooz Fund                                            December 31, 2014      N/A       100.8712

Pakistan Pension Fund – Equity                                           December 31, 2014                               319.00

Pakistan Pension Fund – Debt                                             December 31, 2014                               192.22

Pakistan Pension Fund – Money Market                                     December 31, 2014                               187.01

Pakistan Islamic Pension Fund – Equity                                   December 31, 2014                               326.63

Pakistan Islamic Pension Fund – Debt                                     December 31, 2014                               172.21

Pakistan Islamic Pension Fund -Money Market                              December 31, 2014                               158.33

Note: Back-end load applies wherever applicable as per offering document.