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Lahore, August 16, 2023 (PPI-OT): During 3-year the overall market declined due to numerous economic challenges, delays in the resumption of the IMF program, a growing fiscal deficit, soaring inflation, and increase in the policy rate. PACRA ranked funds comprise of two funds among the universe of thirteen funds. The category average showed a return of ~20.3%. While Faysal Asset Allocation Fund is the top performing fund in 3-Year of the category showed a return of ~52.47% which performed significantly well from stock market return 20.43%.
Faysal Asset Allocation Fund ranked 5 Star. In the end Jun’23, Fund’s generate income by investing ~71.19% in Equities whereas ~5.22% in cash. The Fund always managed to handle the redemption pressure by retaining enough liquidity in the form of cash. Sector wise Fund invested ~12.08% in Oil and Gas Exploration Companies, ~11.82% in Cement, ~8.91% in Fertilizers. Whereas ~6.3% in Technology and Communication, ~17.98% in Commercial Banks and ~14.11% 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 Faysal Asset Allocation Fund 3-Year appeared first on Pakistan Business News.