Press Release
Date: 02-Nov-23 PACRA Assigns Initial Star Ranking to Pak Qatar Islamic Stock Fund
1-Year |
Rating Details | Rating Type | Star Ranking | |
Fund Category | Islamic Equity Fund | ||
Total Fund In Category | 21 | ||
Performance Period | 1-Year | ||
Dissemination Date | Current (dd-mm-yy) | ||
Ranking | 3-Star |
Rating Rationale |
During one year till Sep'23, the KSE-100 and KSE-30 index improved by ~12.41% and ~4.25% whereas KMI-30 improved by ~15.12%. The overall market improved due to various economic factors, revival of foreign investment, stability in PKR:USD parity, and stability in the policy rate. The category average showed a return of ~10.1%. While top top-performing fund in 1-year category showed a return of ~26.7%. Pak Qatar Islamic Stock Fund ranked 3-Star. The total return of Pak Qatar Islamic Stock Fund in 1 year is ~10% against the stock market return of ~15.12%. As of Sep'23, the Fund generates income by investing ~86.1% in Equities and ~9.6% in cash. At the end of Sep'23, Sector-wise Fund invested ~25% in Oil and Gas exploration companies, ~15% in cement, ~10% in fertilizers, ~10% in commercial banks, ~6% in technology and communication, ~5% in Oil and Gas marketing companies, ~5% in engineering and remaining was invested in others. |
Regulatory Disclosures | Analyst | Applicable Criteria | Related Research |
Madiha Sohail madiha.sohail@pacra.com +92-42-35869504 www.pacra.com |
Assessment Framework | Performance Ranking | Jul-23 |
Sector Study | Mutual Funds | Feb-23 |
Disclaimer | This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA. The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor. |