AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore, August 16, 2023 (PPI-OT): During FY23 the KSE-30 and KSE-100 index declined by -7.39% and -0.21% whereas KMI-30 improved by ~2.88%. 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 twelve funds. The category average showed a positive return of ~6.05%. While top performing fund in 1-Year of the category showed a return of ~17.46%. Faysal Islamic Asset Allocation Fund ranked 5 Star.
Total return of Faysal Islamic Asset Allocation Fund in 1-year is ~15.17% against the stock market return of 2.88%. The Fund always managed to handle the redemption pressure by retaining enough liquidity in the form of cash. The Fund generates income by investing ~57.59% in Sukuks, ~25.57% in Ijara Sukuk whereas ~14.11% in Cash at the end Jun’23. The Fund invested ~28.89% in AA+, ~25.60% in Govt Sec./AAA, ~21.38% in A+, ~7.42% in A-, ~6.79% in A, ~3.02% in AA, ~2.91% in AA-, ~1.25% in BBB+ and remaining was invested 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
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