Karachi, May 18, 2020: In April-20, total Asset Under Management (AUM) of mutual fund industry grew by 14 percent MoM to PKR766 billion, open-end funds augmented by PKR~91 billion and stood at PKR736 billion.
Category wise analysis revealed, AUM of Equity Fund increased by 21 percent MoM (PKR20 billion), Money Market Funds AUM improved by 7.5 percent MoM (PKR 16 billion) and Shariah Compliant Money Market Funds AUM boosted by 25 percent (PKR14 billion).
Moreover, the Shariah Complaint Income and Income funds total AUM up by 13 percent MoM (PKR9 billion) and 10 percent MoM (PKR9 billion) respectively.
The surge in equity market fund witnessed due to massive decline in interest rates coupled with hope of reopening of commercial activities soon which support the profitability of listed companies and also build the positive sentiments among investors as the attractive valuation of the listed companies gains investors’ attention.
Moreover, swapping of funds from income to equity owing to lower fixed income returns also improved Equity funds AUMs.
