In FY25, the KSE-100 Index posted a strong gain of ~60.15%, supported by macroeconomic stability, aggressive monetary easing of 1,100 bps by the SBP, and improving investor confidence. This bullish momentum translated into solid performance across the Equity Fund category, which recorded an average return of ~50.59%. PACRA is rating 5 funds out of 23 funds in Equity category. The top-performing fund achieved ~81.19%, while AKD Opportunity Fund generated a return of ~51.73%, earning a 3-Star ranking from PACRA. As of Jun’25, the Fund held ~87.6% in Equities, ~0.88% in Cash, and the remaining ~11.52% in Others including receivables. Sector allocation included ~26.15% in Inv. Banks/ Inv. Cos./ Securities Cos., ~12.21% in Textile Spinning, ~11.74% in Insurance, ~8.26% in Technology & Communication, ~7.63% in Power Generation & Distribution, and the remaining ~21.61% was spread across other sectors.

Over the three-year horizon, Pakistan’s capital markets grappled with policy uncertainty, fiscal imbalances, persistent inflationary pressures, and repeated delays in the IMF program. Volatility in interest and exchange rates further added to the market's complexity, impacting investor sentiment and resulting in mixed performance across Equity Funds. PACRA is rating 5 funds out of 23 funds in Equity category, the category delivered a strong cumulative return of ~153.66%, with the top-performing fund achieving an impressive ~279.39%, while AKD Opportunity Fund posted a return of ~69.89%, maintaining its 2-star rating by PACRA. As of Jun’25, the Fund held ~87.6% in Equities, ~0.88% in Cash, and the remaining ~11.52% in Others including receivables. Sector allocation included ~26.15% in Inv. Banks/ Inv. Cos./ Securities Cos., ~12.21% in Textile Spinning, ~11.74% in Insurance, ~8.26% in Technology & Communication, ~7.63% in Power Generation & Distribution, and the remaining ~21.61% was spread across other sectors.

Over the five-year horizon, Pakistan’s equity markets experienced significant volatility driven by macroeconomic imbalances, currency depreciation, and political uncertainty. Despite these challenges, a strong bull run in FY25 restored investor confidence and lifted overall returns. PACRA is rating 5 funds out of 23 funds in Equity category, with the category delivering an average return of ~184.76%, while the top-performing fund achieved an impressive ~302.87%, while AKD Opportunity Fund posted a return of ~155.69%, maintaining its 3-star rating over the 5-year horizon. As of Jun’25, the Fund held ~87.6% in Equities, ~0.88% in Cash, and the remaining ~11.52% in Others including receivables. Sector allocation included ~26.15% in Inv. Banks/ Inv. Cos./ Securities Cos., ~12.21% in Textile Spinning, ~11.74% in Insurance, ~8.26% in Technology & Communication, ~7.63% in Power Generation & Distribution, and the remaining ~21.61% was spread across other sectors.