Pakistan mutual funds industry showed a healthy growth of 44 per cent in its value to reach Rs360 billion ($4 billion) by February as against June 2011 closings, when the entire industry stood at $2.78 billion. The equity funds category posted an average return of 6.8 per cent remarkably since June 2011, outperforming the Karachi Stock Exchange (KSE) 100-share index return of 3.1 per cent and KSE 30-share index return of 2.8 per cent for the same period. The mutual funds industry continued its upward trajectory in February appreciated by further 5.6 per cent in monthly terms in February, crossing $3.89 billion mark and reached at $4 billion as compared to $3.8 billion a month earlier. The open-ended funds’ size appreciated by 5 per cent on monthly basis, while that of closed-end funds? grew by 6 per cent to reach $3.75 billion and $244.44 million, respectively. During the month, major growth was witnessed in the money market funds category, which rose by 10 per cent to close at $1.53 billion in February 2012. Islamic equity funds also followed the suit and appreciated by 6 per cent against 8 per cent surge witnessed in local equities market. Open-end funds increased by a solid 50 per cent while closed-end funds? size declined by 11 per cent since then. The income funds category withheld almost the same levels in February 12 as earlier, at $933.33 million. However, on a cumulative basis during 8MFY12, the income funds category showed an enormous growth of 117 per cent in terms of size. As the central bank kept the discount rate unchanged at 12 per cent in its last monetary policy, the downward valuation adjustments were witnessed in T-bills and PIBs holdings, analyst Mazhir A Sabir said. As far as return of income funds is concerned, this category earned an average annualised return of 10.2 per cent during February 2012, down by 0.4 per cent over last month. During 8MFY12, the income funds also earned average return of 10.2 per cent on annualised basis, he added. The money market funds category constituting 42 per cent of the total size of the open-end funds (38 per cent of the entire industry) again outshined the industry and rose by 10 per cent in February 2012 to reach at $1.53 billion, against $1.39 billion in January 2012.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor