OUR STAFF REPORTER LAHORE The Lahore Stock Exchange has approved the applications for formal listing and quotation of the Units of Lakson Asset Allocation Developed Market Fund, Lakson Asset Allocation Global Commodities Fund and Lakson Asset Allocation Emerging Markets Fund (Open end Funds managed by Lakson Investments Limited) & IGI Capital Protected Fund (open end managed by IGI Funds Limited). The Funds will be quoted under Open-end Fund sector of the Ready Board Quotation of the Exchange. Total number has reached 59. The representative of the Lakson Investment Limited said that the investment objective of the Funds is to provide long term capital appreciation by investing in a mix of domestic debt and developed markets securities. The performance benchmark for the scheme shall be comprised of a 6-month T-bills (PKRV rates) and the MSCI world index (after incorporating the impact of exchange rate movements of Pak Rupee against US Dollar) in the ratio of 70:30. The initial price per unit of the Fund is Rs 100/-. The duration of the Fund is perpetual Lakson Investments Limited, the asset management and investment advisory arm of the Lakson Group, is licensed by the Commission to provide asset management and investment advisory services pursuant to the Non-Banking Finance Companies (Establishment and Regulations) Rules, 2003 and Non-Banking Finance Companies and Notified Entities Regulations, 2008. The Lakson Group was established in 1954 by Mr. Hassanali Karabhai, and is one of the largest and most diversified business groups in Pakistan. Today the Lakson Group manages and owns companies that are industry leaders in their respective sectors including consumer non-durables, fast food, financial services, media, surgical instruments, technology, textiles and travel. The brands of the Company are Colgate-Palmolive (Pakistan), Cyber. Net, Clover, Express News, Macdonalds and Tetley. The Company is currently managing three Open end Funds by the name of Lakson Equity Fund, Lakson Income Fund and Lakson Money Market Fund. All these three funds are listed at LSE. IGI Funds Limited is a Group Company of the Packages Group. IGI Investment Bank Ltd. (IGIBL) the parent Company is the principal shareholder of IGI Funds holding 99.9pc of the share capital. It is licenced by the SECP to act as an Asset management Company and Investment Advisor. IGI Funds Ltd. was incorporated in 2006. The Company is currently managing five open end funds namely IGI Income Fund, IGI Stock Fund, IGI Islamic Income Fund, IGI Money Market Fund and IGI Aggressive Income Fund. Apart from IGI Aggressive Income Fund which is listed on KSE, all the funds are listed at LSE. The representative of IGI Funds said that the investment objective of the Fund is to protect investors capital at maturity through the investment structure by placing 80pc of the initial fund size to be called the capital protected segment, in equal proportion in PIBs and Treasury bills (T-Bills). The performance benchmark of the Fund will be compared against a benchmark based on 80 percent average term deposit rates of any three AA- and above rated scheduled banks for same maturity as the capital protected portion of the fund at inception and 20 percent of PMEX commodity index performances. The duration of the fund is two years following the last day of initial offering date i.e. October 05, 2011. The initial price unit of the Fund is Rs. 100 each and CDC is acting as a Trustee of the all four Funds.