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Print 2014-03-12
Mutual Funds Association of Pakistan
Mutual Funds Association has issued open-end funds daily prices for Tuesday (March 11, 2014)
Mutual Funds Association has issued open-end funds daily prices for Tuesday (March 11, 2014)
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Names Asset Manager Category Offer Repurchase Validity
of Fund Price Price (Dates)
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AKD Aggressive Income Fund
(Formerly: AKD Income Fund) AKD Investment Management Ltd Aggressive Fixed Income 49.4646 48.9747 11-Mar-14
Alfalah GHP Income Multiplier Fund Alfalah GHP Investment Management Ltd Aggressive Fixed Income 51.145 49.6553 11-Mar-14
Askari High Yield Scheme Askari Investment Management Ltd Aggressive Fixed Income 107.718 105.5636 11-Mar-14
BMA Chundrigar Road
Savings Fund BMA Asset Management Co Ltd Aggressive Fixed Income 8.1495 8.0688 11-Mar-14
Faysal Income & Growth Fund Faysal Asset Management Ltd Aggressive Fixed Income 106.48 106.48 11-Mar-14
IGI Aggressive Income Fund Alfalah GHP Investment Management Ltd Aggressive Fixed Income 44.1254 43.6885 11-Mar-14
KASB Income Opportunity Fund KASB Funds Ltd Aggressive Fixed Income 71.7417 71.7417 11-Mar-14
Pakistan Income Enhancement Fund MCB-Arif Habib Savings Aggressive Fixed Income 52.87 51.45 11-Mar-14
United Growth & Income and Investments Ltd
Fund--Income UBL Fund Managers Ltd Aggressive Fixed Income 86.2659 84.5578 10-Mar-14
Alfalah GHP Value Fund Alfalah GHP Investment Management Ltd Asset Allocation 65.52 62.4 11-Mar-14
Askari Asset Allocation Fund-B Askari Investment Management Ltd Asset Allocation 55.9899 54.5902 11-Mar-14
Faysal Asset Allocation Fund Faysal Asset Management Ltd Asset Allocation 70.29 70.29 11-Mar-14
JS Aggressive Asset Allocation JS Investments Ltd Asset Allocation 17.31 16.8 11-Mar-14
KASB Asset Allocation Fund KASB Funds Ltd Asset Allocation 51.9 50.86 11-Mar-14
Lakson Asset Allocation
Developed Markets Fund Lakson Investments Ltd Asset Allocation 114.9105 112.1078 10-Mar-14
Lakson Asset Allocation
Emerging Markets Fund Lakson Investments Ltd Asset Allocation 105.9768 103.392 10-Mar-14
Lakson Asset Allocation
Global Commodities Fund Lakson Investments Ltd Asset Allocation 106.268 103.6761 10-Mar-14
MCB Dynamic Allocation Fund MCB-Arif Habib Savings and Investments Ltd Asset Allocation 79.9427 76.7156 11-Mar-14
NAFA Asset Allocation Fund NBP Fullerton Asset Management Ltd Asset Allocation 12.804 12.3072 11-Mar-14
Pak Oman Advantage
Asset Allocation Fund Pak Oman Asset Management Co Ltd Asset Allocation 55.54 54.15 11-Mar-14
UBL Asset Allocation Fund UBL Fund Managers Ltd Asset Allocation 106.4115 104.3045 11-Mar-14
Faysal Balanced Growth Fund Faysal Asset Management Ltd Balanced 63.08 63.08 11-Mar-14
HBL Multi Asset Fund HBL Asset Management Ltd Balanced 125.2174 121.9359 11-Mar-14
NAFA Multi Asset Fund NBP Fullerton Asset Management Ltd Balanced 13.7798 13.2451 11-Mar-14
Pakistan Capital Market Fund MCB-Arif Habib Savings and Investments Ltd Balanced 10.06 9.79 11-Mar-14
Primus Strategic Multi Asset Fund Primus Investment Management Ltd Balanced 110.11 107.95 11-Mar-14
Unit Trust of Pakistan JS Investments Ltd Balanced 150.13 145.75 11-Mar-14
ABL AMC Capital Protected Fund ABL Asset Management Co Ltd Capital Protected 0 10.7052 10-Mar-14
UBL Principal Protected Fund III UBL Fund Managers Ltd Capital Protected 100.72 95.68 10-Mar-14
Atlas Gold Fund Atlas Asset Management Ltd Commodities 104.8523 104.8523 10-Mar-14
UBL Gold Fund UBL Fund Managers Ltd Commodities 93.9476 91.4866 10-Mar-14
ABL Stock Fund ABL Asset Management Co Ltd Equity 13.9423 13.6689 10-Mar-14
AKD Opportunity Fund AKD Investment Management Ltd Equity 70.85 68.75 11-Mar-14
Alfalah GHP Alpha Fund Alfalah GHP Investment Management Ltd Equity 72.77 69.31 11-Mar-14
Asian Stocks Fund Safeway Fund Ltd Equity 0 13.91 28-Feb-14
Askari Equity Fund Askari Investment Management Ltd Equity 126.9286 124.39 10-Mar-14
Atlas Stock Market Fund Atlas Asset Management Ltd Equity 492.0157 492.0157 11-Mar-14
Crosby Dragon Fund KASB Funds Ltd Equity 125.73 123.26 11-Mar-14
First Capital Mutual Fund-B First Capital Investments Ltd Equity 0 8.8522 11-Mar-14
First Habib Stock Fund Habib Asset Management Ltd Equity 117.699 117.699 11-Mar-14
HBL Stock Fund HBL Asset Management Ltd Equity 139.762 135.2134 11-Mar-14
IGI Stock Fund Alfalah GHP Investment Management Ltd Equity 142.8456 139.3616 11-Mar-14
JS Growth Fund-A JS Investments Ltd Equity 173.96 168.89 11-Mar-14
JS Large Cap Fund JS Investments Ltd Equity 97.91 95.05 11-Mar-14
JS Value Fund-A JS Investments Ltd Equity 193.83 188.18 11-Mar-14
Lakson Equity Fund Lakson Investments Ltd Equity 151.1927 146.789 11-Mar-14
MCB Dynamic Stock Fund MCB-Arif Habib Savings and Investments Ltd Equity 126.3759 122.1246 11-Mar-14
NAFA Stock Fund NBP Fullerton Asset Management Ltd Equity 11.3387 10.8987 11-Mar-14
National Investment Unit Trust National Investment Trust Ltd Equity 55.7 54.07 11-Mar-14
Pakistan Premier Fund MCB-Arif Habib Savings and Investments Ltd Equity 14.17 13.79 11-Mar-14
Pakistan Stock Market Fund MCB-Arif Habib Savings and Investments Ltd Equity 75.61 73.58 11-Mar-14
Pakistan Strategic Allocation Fund MCB-Arif Habib Savings and Investments Ltd Equity 12.09 11.76 11-Mar-14
PICIC Energy Fund PICIC Asset Management Co Ltd Equity 15.3239 14.8776 11-Mar-14
PICIC Stock Fund PICIC Asset Management Co Ltd Equity 153.5977 149.124 11-Mar-14
Safeway Mutual Fund Safeway Fund Ltd Equity 0 22.94 28-Feb-14
United Stock Advantage Fund UBL Fund Managers Ltd Equity 57.19 55.33 11-Mar-14
JS Fund of Funds JS Investments Ltd Fund of Funds 51.88 50.36 10-Mar-14
Meezan Capital Preservation Fund III Al Meezan Investment Management Ltd Fund of Funds 0 50.74 10-Mar-14
UBL Principal Protected Fund II UBL Fund Managers Ltd Fund of Funds 109.19 103.7305 10-Mar-14
ABL Government Securities Fund-B ABL Asset Management Co Ltd Income 10.1875 10.0369 10-Mar-14
ABL Income Fund ABL Asset Management Co Ltd Income 10.3706 10.2173 10-Mar-14
Askari Sovereign Yield Enhancer Askari Investment Management Ltd Income 102.0602 100.7844 11-Mar-14
Atlas Income Fund Atlas Asset Management Ltd Income 512.997 512.997 11-Mar-14
Faysal Financial Sector
Opportunity Fund Faysal Asset Management Ltd Income 103.12 101.34 11-Mar-14
Faysal Savings Growth Fund Faysal Asset Management Ltd Income 102.72 102.72 11-Mar-14
First Habib Income Fund Habib Asset Management Ltd Income 100.41 100.41 11-Mar-14
HBL Income Fund HBL Asset Management Ltd Income 102.6895 102.6895 11-Mar-14
IGI Income Fund Alfalah GHP Investment Management Ltd Income 103.3666 102.3432 11-Mar-14
JS Income Fund JS Investments Ltd Income 88.74 87.86 11-Mar-14
Lakson Income Fund Lakson Investments Ltd Income 102.8358 101.316 11-Mar-14
MCB Dynamic Cash Fund MCB-Arif Habib Savings Income 105.8578 103.7212 11-Mar-14
MetroBank Pakistan and Investments Ltd
Sovereign Fund (Perpetual) MCB-Arif Habib Savings Income 52.64 51.58 11-Mar-14
NAFA Financial Sector and Investments Ltd
Income Fund NBP Fullerton Asset Management Ltd Income 10.6176 10.4766 11-Mar-14
NAFA Income Fund NBP Fullerton Asset Management Ltd Income 9.7091 9.5802 11-Mar-14
NAFA Income Opportunity
Fund (Formerly: NAFA
Cash Fund) NBP Fullerton Asset Management Ltd Income 10.7751 10.7751 11-Mar-14
NAFA Saving Plus Fund NBP Fullerton Asset Management Ltd Income 10.1296 10.0619 11-Mar-14
NAMCO Income Fund National Asset Management Co Ltd Income 103.2941 103.2941 11-Mar-14
NIT ? Government Bond Fund National Investment Trust Ltd Income 10.6889 10.5831 11-Mar-14
NIT ? Income Fund National Investment Trust Ltd Income 10.8094 10.7024 11-Mar-14
Pak Oman Government
Securities Fund Pak Oman Asset Management Co Ltd Income 10.4221 10.4221 11-Mar-14
Pakistan Income Fund MCB-Arif Habib Savings and Investments Ltd Income 54.36 52.9 11-Mar-14
PICIC Income Fund-C PICIC Asset Management Co Ltd Income 102.3317 102.3317 11-Mar-14
UBL Financial Sector Bond Fund UBL Fund Managers Ltd Income 104.8526 102.7765 11-Mar-14
UBL Government Securities Fund UBL Fund Managers Ltd Income 102.9894 101.6176 11-Mar-14
UBL Savings Income Fund UBL Fund Managers Ltd Income 102.3791 101.0154 11-Mar-14
AKD Index Tracker Fund AKD Investment Management Ltd Index Tracker 13.69 13.55 11-Mar-14
JS KSE 30 Index Fund JS Investments Ltd Index Tracker 29.84 29.25 11-Mar-14
KASB Islamic Income
Opportunity Fund KASB Funds Ltd Islamic Aggressive 101.3896 100.3757 11-Mar-14
NAFA Islamic Aggressive Fixed Income
Income Fund (Formerly:
NAFA Islamic Income Fund) NBP Fullerton Asset Management Ltd Islamic Aggressive 9.4992 9.3731 11-Mar-14
Fixed Income
United Islamic Income Fund--Income UBL Fund Managers Ltd Islamic Aggressive 104.54 103.15 10-Mar-14
Fixed Income
Alfalah GHP Islamic Fund Alfalah GHP Investment Islamic Asset Allocation 71.24 67.85 11-Mar-14
Askari Islamic Asset Management Ltd
Allocation Fund-B Askari Investment Management Ltd Islamic Asset Allocation 118.5347 115.5713 11-Mar-14
Pak Oman Islamic Asset
Allocation Fund Pak Oman Asset Management Co Ltd Islamic Asset Allocation 59.75 58.26 11-Mar-14
Pakistan Int'l Element Islamic MCB-Arif Habib Savings
Asset Allocation Fund and Investments Ltd Islamic Asset Allocation 54.05 52.6 11-Mar-14
UBL Islamic Asset Allocation Fund UBL Fund Managers Ltd Islamic Asset Allocation 104.8491 102.7731 10-Mar-14
First Habib Islamic Balanced Fund Habib Asset Management Ltd Islamic Balanced Fund 110.9512 110.9512 11-Mar-14
Meezan Balanced Fund Al Meezan Investment Management Ltd Islamic Balanced Fund 15.44 15.04 11-Mar-14
NAFA Islamic Multi Asset Fund NBP Fullerton Asset Management Ltd Islamic Balanced Fund 13.8507 13.3133 11-Mar-14
Meezan Capital Protected Fund II Al Meezan Investment Management Ltd Islamic Capital 0 57.11 11-Mar-14
NAFA Islamic Principal Protected Fund
Protected Fund I NBP Fullerton Asset Management Ltd Islamic Capital 100.2573 100.2573 11-Mar-14
Protected Fund
ABL Islamic Stock Fund ABL Asset Management Co Ltd Islamic Equity 11.8936 11.6604 10-Mar-14
Al Meezan Mutual Fund Al Meezan Investment Management Ltd Islamic Equity 15.82 15.37 11-Mar-14
Atlas Islamic Stock Fund Atlas Asset Management Ltd Islamic Equity 439.0808 439.0808 11-Mar-14
HBL Islamic Stock Fund HBL Asset Management Ltd Islamic Equity 169.6768 165.2301 11-Mar-14
JS Islamic Fund JS Investments Ltd Islamic Equity 82.11 79.71 11-Mar-14
Meezan Islamic Fund Al Meezan Investment Management Ltd Islamic Equity 56.8 55.18 11-Mar-14
PIML Islamic Equity Fund Primus Investment Management Ltd Islamic Equity 102.49 100.48 11-Mar-14
UBL Shariah Stock Fund
(Formerly: United Composite
Islamic Fund) UBL Fund Managers Ltd Islamic Equity 120.47 116.55 10-Mar-14
ABL Islamic Principal
Preservation Fund ABL Asset Management Co Ltd Islamic Fund of Funds 0 10.3121 10-Mar-14
Meezan Financial Planning
Fund of Funds (Aggressive) Al Meezan Investment Management Ltd Islamic Fund of Funds 63.46 61.8 10-Mar-14
Meezan Financial Planning
Fund of Funds (Conservative) Al Meezan Investment Management Ltd Islamic Fund of Funds 56.71 55.96 10-Mar-14
Meezan Financial Planning
Fund of Funds (Moderate) Al Meezan Investment Management Ltd Islamic Fund of Funds 59.59 58.41 10-Mar-14
UBL Islamic Principal
Preservation Fund I UBL Fund Managers Ltd Islamic Fund of Funds 123.8 117.61 10-Mar-14
UBL Islamic Principal
Preservation Fund II UBL Fund Managers Ltd Islamic Fund of Funds 111.62 106.04 10-Mar-14
ABL Islamic Income Fund
(Formerly: ABL Islamic
Cash Fund) ABL Asset Management Co Ltd Islamic Income 10.3419 10.1891 10-Mar-14
Askari Islamic Income Fund-B Askari Investment Management Ltd Islamic Income 101.842 100.8236 11-Mar-14
Atlas Islamic Income Fund Atlas Asset Management Ltd Islamic Income 512.2797 512.2797 11-Mar-14
Faysal Islamic Savings Growth Fund Faysal Asset Management Ltd Islamic Income 102.4 102.4 11-Mar-14
IGI Islamic Income Fund Alfalah GHP Investment Islamic Income 102.8799 101.8613 11-Mar-14
JS Islamic Government Management Ltd
Securities Fund JS Investments Ltd Islamic Income 102.34 101.32 11-Mar-14
MCB Islamic Income Fund-A MCB-Arif Habib Savings and Investments Ltd Islamic Income 103.8443 101.7483 11-Mar-14
Meezan Islamic Income Fund-B Al Meezan Investment Management Ltd Islamic Income 52.1 51.75 11-Mar-14
Meezan Sovereign Fund Al Meezan Investment Management Ltd Islamic Income 51.59 51.25 11-Mar-14
NAFA Riba Free Savings Fund NBP Fullerton Asset Management Ltd Islamic Income 10.1829 10.1148 11-Mar-14
Pak Oman Advantage
Islamic Income Fund Pak Oman Asset Management Co Ltd Islamic Income 53.5241 52.9889 11-Mar-14
UBL Islamic Sovereign
Fund (Formerly: UBL
Islamic Savings Fund)-C UBL Fund Managers Ltd Islamic Income 102.7397 101.3712 11-Mar-14
KSE Meezan Index Fund Al Meezan Investment Management Ltd Islamic Index Tracker 72.39 70.32 11-Mar-14
HBL Islamic Money Market Fund HBL Asset Management Ltd Islamic Money Market 100.4861 100.4861 11-Mar-14
Meezan Cash Fund Al Meezan Investment Management Ltd Islamic Money Market 50.18 50.18 11-Mar-14
PIML Islamic Money Market Fund Primus Investment Management Ltd Islamic Money Market 102.45 100.44 11-Mar-14
UBL Islamic Cash Fund UBL Fund Managers Ltd Islamic Money Market 100.8706 100.8706 12-Mar-14
ABL Cash Fund ABL Asset Management Co Ltd Money Market 10.0249 10.0249 11-Mar-14
AKD Cash Fund AKD Investment Management Ltd Money Market 50.141 50.141 11-Mar-14
Alfalah GHP Cash Fund Alfalah GHP Investment Management Ltd Money Market 501.41 501.41 11-Mar-14
Askari Sovereign Cash Fund Askari Investment Management Ltd Money Market 101.0827 101.0827 12-Mar-14
Atlas Money Market Fund Atlas Asset Management Ltd Money Market 504.1758 504.1758 11-Mar-14
BMA Empress Cash Fund BMA Asset Management Co Ltd Money Market 10.241 10.1396 11-Mar-14
Faysal Money Market Fund Faysal Asset Management Ltd Money Market 101.35 101.35 12-Mar-14
First Habib Cash Fund Habib Asset Management Ltd Money Market 100.2873 100.2873 11-Mar-14
HBL Money Market Fund HBL Asset Management Ltd Money Market 100.5622 100.5622 11-Mar-14
IGI Money Market Fund Alfalah GHP Investment Management Ltd Money Market 101.5882 100.5824 11-Mar-14
JS Cash Fund JS Investments Ltd Money Market 103.75 102.72 12-Mar-14
KASB Cash Fund KASB Funds Ltd Money Market 103.7486 102.7111 12-Mar-14
Lakson Money Market Fund Lakson Investments Ltd Money Market 100.3148 100.3148 12-Mar-14
MCB Cash Management Optimizer MCB-Arif Habib Savings Money Market 101.3087 100.2863 12-Mar-14
NAFA Government and Investments Ltd
Securities Liquid Fund NBP Fullerton Asset Management Ltd Money Market 10.0656 10.0656 11-Mar-14
NAFA Money Market Fund NBP Fullerton Asset Management Ltd Money Market 10.096 10.0285 11-Mar-14
Pakistan Cash Management Fund MCB-Arif Habib Savings and Investments Ltd Money Market 50.1507 50.1507 12-Mar-14
PICIC Cash Fund-C PICIC Asset Management Co Ltd Money Market 100.8341 100.8341 12-Mar-14
Primus Cash Fund Primus Investment Management Ltd Money Market 100.2703 100.2703 11-Mar-14
Primus Daily Reserve Fund Primus Investment Management Ltd Money Market 100.3118 100.3118 11-Mar-14
UBL Liquidity Plus Fund-C UBL Fund Managers Ltd Money Market 100.8312 100.8312 12-Mar-14
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PENSION FUNDS (OPEN-END FUNDS):
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Name of Funds Asset Manager Net Asset Validity
Value (Dates)
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Atlas Pension Fund-Debt Atlas Asset Management Limited 176.2032 11-Mar-14
Atlas Pension Fund-Equity Atlas Asset Management Limited 295.7207 11-Mar-14
Atlas Pension Fund-Gold Atlas Asset Management Limited 105.2228 10-Mar-14
Atlas Pension Fund-Money Market Atlas Asset Management Limited 179.2437 11-Mar-14
HBL Pension Fund-Debt HBL Asset Management Limited 119.7736 11-Mar-14
HBL Pension Fund-Equity HBL Asset Management Limited 222.3575 11-Mar-14
HBL Pension Fund-Money Market HBL Asset Management Limited 118.6902 11-Mar-14
JS Pension Savings Fund-Debt JS Investments Limited 182.41 11-Mar-14
JS Pension Savings Fund-Equity JS Investments Limited 273.28 11-Mar-14
JS Pension Savings Fund-Money Market JS Investments Limited 156.09 11-Mar-14
NAFA Pension Fund-Debt NBP Fullerton Asset Management Limited 107.0472 11-Mar-14
NAFA Pension Fund-Equity NBP Fullerton Asset Management Limited 127.4855 11-Mar-14
NAFA Pension Fund-Money Market NBP Fullerton Asset Management Limited 106.1788 11-Mar-14
Pakistan Pension Fund-Debt MCB-Arif Habib Savings and Investments Ltd 173.11 11-Mar-14
Pakistan Pension Fund-Equity MCB-Arif Habib Savings and Investments Ltd 243.88 11-Mar-14
Pakistan Pension Fund-Money Market MCB-Arif Habib Savings and Investments Ltd 176.1 11-Mar-14
UBL Retirement Saving Fund-Debt UBL Fund Managers Limited 144.32 11-Mar-14
UBL Retirement Saving Fund-Equity UBL Fund Managers Limited 295.45 11-Mar-14
UBL Retirement Saving Fund-Money Market UBL Fund Managers Limited 140.18 11-Mar-14
Atlas Pension Islamic Fund-Debt Atlas Asset Management Limited 163.9126 11-Mar-14
Atlas Pension Islamic Fund-Equity Atlas Asset Management Limited 391.1611 11-Mar-14
Atlas Pension Islamic Fund-Money Market Atlas Asset Management Limited 172.6307 11-Mar-14
HBL Islamic Pension Fund-Debt HBL Asset Management Limited 118.4914 11-Mar-14
HBL Islamic Pension Fund-Equity HBL Asset Management Limited 230.9612 11-Mar-14
HBL Islamic Pension Fund-Money Market HBL Asset Management Limited 117.5535 11-Mar-14
JS Islamic Pension Savings Fund-Debt JS Investments Limited 170.72 11-Mar-14
JS Islamic Pension Savings Fund-Equity JS Investments Limited 352.35 11-Mar-14
JS Islamic Pension Savings Fund-Money Market JS Investments Limited 148.24 11-Mar-14
Meezan Tahaffuz Pension Fund-Debt Al Meezan Investment Management Limited 180.06 11-Mar-14
Meezan Tahaffuz Pension Fund-Equity Al Meezan Investment Management Limited 311.06 11-Mar-14
Meezan Tahaffuz Pension Fund-Money Market Al Meezan Investment Management Limited 179.35 11-Mar-14
NAFA Islamic Pension Fund-Debt NBP Fullerton Asset Management Limited 106.4964 11-Mar-14
NAFA Islamic Pension Fund-Equity NBP Fullerton Asset Management Limited 126.8478 11-Mar-14
NAFA Islamic Pension Fund-Money Market NBP Fullerton Asset Management Limited 105.95 11-Mar-14
Pakistan Islamic Pension Fund-Debt MCB-Arif Habib Savings and Investments Ltd 166.09 11-Mar-14
Pakistan Islamic Pension Fund-Equity MCB-Arif Habib Savings and Investments Ltd 251.03 11-Mar-14
Pakistan Islamic Pension Fund-Money Market MCB-Arif Habib Savings and Investments Ltd 153.33 11-Mar-14
UBL Islamic Retirement Saving Fund-Debt UBL Fund Managers Limited 137.06 11-Mar-14
UBL Islamic Retirement Saving Fund-Equity UBL Fund Managers Limited 301.47 11-Mar-14
UBL Islamic Retirement Saving Fund-Money Market UBL Fund Managers Limited 132.64 11-Mar-14
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CLOSED-END FUND NAVs:
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Names of Fund Investment Advisor Category NAVs Validity
(Dates)
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NAMCO Balanced Fund National Asset Management Co Ltd Balanced 9.0261 11-Mar-14
Golden Arrow Selected Stock Fund AKD Investment Management Limited Equity 11.93 11-Mar-14
PICIC Growth Fund PICIC Asset Management Co Ltd Equity 42.54 11-Mar-14
PICIC Investment Fund PICIC Asset Management Co Ltd Equity 19.03 11-Mar-14
Pak Oman Advantage Fund Pak Oman Asset Management Co Ltd Income 11 11-Mar-14
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* = (A subsidiary of MCB Bank Limited)
1. Ex - Bonus Prices.
2. Ex Dividend Prices.
3. Back end load will apply where applicable, as per the offering document.
4. After adjusting Back-end load of 4% (Offering Document clause 7.5).
5. After adjusting Back-end load of 3% (Offering Document clause 7.5).
6. After adjusting Back-end load of 5% (Offering Document clause 5.7).
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