Pakistan Credit Rating Agency Limited Assigns Star Rankings to Funds of Askari Investment Management Limited (Period Ended June 30, 2013)
Lahore, November 28, 2013 (PPI-OT): PACRA has assigned rankings to the following funds of Askari Investment Management Limited based on performance review for the period ended June 30, 2013 (trailing 12 months for normal star ranking and trailing 36 months for long term star ranking).
Fund Category Star Ranking Short Long Term Term 1. Askari Asset Allocation Asset Allocation 4 4 Fund 2. Askari Islamic Asset Islamic Asset Allocation 4 3 Allocation Fund 3. Askari Equity Fund Equity (Open End) 3 -
The Mutual Fund Performance Ranking (Star Ranking) aims to distinguish funds based on their relative actual performance within a category of similar funds. In measuring performance, PACRA considers absolute monthly return and its variance measured through standard deviation.
The ranking is a pure quantitative measure based on historical returns of a fund relative to other funds, and does not take into account other factors including fund management capability of the asset manager and the quality of risk management systems, controls and processes. Hence, the rankings do not provide any assurance as to future returns of the fund.
For more information, contact:
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Category: General Business News