Arif Habib Investments – Daily Prices for January 15, 2015

Name of the Fund                                                                Date          Offer     Repurchase     NAV

Pakistan Stock Market Fund (PSM)                                         January 15, 2015     81.16        78.99

Pakistan Income Fund (PIF)                                               January 15, 2015     57.35        55.82

Pakistan Capital Market Fund      PCMF                                   January 15, 2015     11.35        11.05

Pakistan International Element Islamic Fund of Arif Habib (PIEIF-A)      January 15, 2015     63.92        62.21

MetroBank Sovereign Fund Pakistan (MSFP)                                 January 15, 2015     56.12        55.00

Pakistan Strategic Allocation Fund                                       January 15, 2015     11.31        11.01

Pakistan Cash Management Fund (PCF)                                      January 16, 2015     52.3725      52.3725

Pakistan Income Enhancement Fund (PIEF)                                  January 15, 2015     57.07        55.55

MCB Cash Management Optimizer                                            January 16, 2015    104.7835     104.7835

MCB Dynamic Allocation Fund                                              January 15, 2015     85.0794      81.6745

MCB Dynamic Cash Fund                                                    January 15, 2015    111.5341     109.3023

MCB Islamic Income Fund – TYPE A                                         January 15, 2015    105.1841     103.0794

Pakistan Sarmaya Mehfooz Fund                                            January 15, 2015      N/A        103.3

Pakistan Pension Fund – Equity                                           January 15, 2015                             348.37

Pakistan Pension Fund – Debt                                             January 15, 2015                             195.50

Pakistan Pension Fund – Money Market       PPFM                          January 15, 2015                             187.77

Pakistan Islamic Pension Fund – Equity                                   January 15, 2015                             349.24

Pakistan Islamic Pension Fund – Debt                                     January 15, 2015                             173.00

Pakistan Islamic Pension Fund -Money Market                              January 15, 2015                             159.10

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