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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 programmed, 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 return of ~17.6%. While top performing fund in 3-Year of the category showed a return of ~40%. NBP Islamic Sarmaya Izafa Fund ranked 3 Star.
Total return of NBP Islamic Sarmaya Izafa Fund in 3-year is ~13.35% which is in line with the stock market return of 28.6%. In the end Jun’23, Fund’s generate income by investing ~74.4% in Equities, ~18.3% in cash whereas ~3.3% in Sukuks. The Fund always managed to handle the redemption pressure by retaining enough liquidity in the form of cash. Sector wise Fund invested ~23% in Oil and Gas Exploration Companies, ~12.5% in Cement, ~8.1% in Fertilizers. Whereas ~7.2% in Power Generation and Distribution, ~6.1% in Technology and Communication and ~17.5% 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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