AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore, August 16, 2023 (PPI-OT): During 5-year the overall market declined due to numerous economic challenges, delays in the resumption of the IMF programmed, a growing fiscal deficit, soaring inflation, and increase in the policy rate. PACRA ranked funds comprise of three funds among the universe of twenty-one funds. The category average showed a negative return of -22.9%. While top performing fund in 5-Year of the category showed a return of ~3.8%. AKD Islamic Stock Fund ranked 1 Star. Total return of AKD Islamic Stock Fund in 5-year is -29.3%.
The year 2020 was a year of severe distress due to Covid which impacted the stock market significantly with negative returns of -0.4%. Resultantly, the year also impacted the Fund’s return which is also evident from 3-Years cumulative returns. In the end Jun’23, Fund’s generate income by investing ~89.61% in Equities whereas ~0.86% in cash. Sector-wise Fund invested ~22.83% in Power Generation and Distribution, ~17.06% in Textile Spinning, and ~16% in Food and Personal Care Products. Whereas ~9.16% in Refinery, ~7.62% in Automobile Parts and Accessories and ~27.34% in others at the end Jun’23.
For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com
The post PACRA Assigns Star Ranking to AKD Islamic Stock Fund 5-Year appeared first on Pakistan Business News.