Equity Funds: NAFAFSECTF emerges as sole winner within a bewildered setting

April 2, 2019 (MLN): The outgoing month of March failed to turn the table around for the conventional equity funds, as once again all major funds, with the exception of one, exhibited a poor performance by the end of March, as compared to the beginning of it.

The Net Asset Value (NAV) of these funds fell by up to 4.38% over the month, with HBL Investment Fund-Class A (HBLIF-A) surpassing the rest to become the flagbearer of losses, having observed the largest decline with a current NAV of Rs. 7.24, down by Rs. 0.33.

This was followed by HBL Growth Fund- Class A (HBLGF-A), which witnessed 4.22% drop in NAV. The current value of this fund stands at Rs. 20.27. 

However, the smallest change in NAV was witnessed by UBL Financial Sector Fund (UBLFSF), whose value dropped by 0.35% to stand at Rs. 86.03.

On the other hand, NAFA Financial Sector Fund (NAFAFSECTF) showed significant improvement over the month, with its NAV increasing by 1.08% to Rs. 9.76.

Understandably, the performance of KSE-100 index in the period under review completely justifies the picture. The benchmark index, which started the month having a value of 39,054 points, lost almost 405 points after closing the month at 38,649 points.

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