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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 four funds among the universe of twenty-eight funds. The category average showed a negative return of -11.8%. While Golden Arrow Stock Fund is the top performing fund in the category showed a return of ~20.95%. Golden Arrow Stock Fund ranked 5 Star.
The year 2020 was a year of severe distress due to Covid which impacted the stock market significantly with negative returns of -1.09%. 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 ~87.05% in equities whereas ~3.74% in cash. Sector wise Fund invested ~14.31% in Textile Spinning, ~14.24% in Investment Banks, ~9% in Tech and Com, ~6.58% in Refinery whereas, ~6.37% in Power Generation and Distribution and ~49.5% in others.
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 Golden Arrow Stock Fund (Formerly: Golden Arrow Selected Stocks Fund) 5-Year appeared first on Pakistan Business News.