Shariah Equity Funds: AKD Islamic Fund suffers the least blow

News Image

MG News | September 17, 2019 at 02:40 PM GMT+05:00

0:00

September 17, 2019 (MLN): The Shariah Compliant Equity Funds posted a negative return in line with KSE Meezan Index (KMI-30) fall in the month of August 2019.

During the month, KMI – 30 Index lost 4,343 points, marking a decline of 9% which led each individual shariah compliant towards the negative territory. Among all 17 shariah compliant funds, 8 such funds went a few steps beyond the index’s decline and recorded over 9.14% decline in their respective Net Asset Value (NAV).

Based on data aligned by Mettis Global Private Limited, the funds that suffered a brunt of damage due to poor performance of KMI-30 index include, Meezan Energy Funds (14.66% decline in NAV), NBP Islamic Energy Fund (13.24% decline in NAV) and HBL Islamic Stock Fund (9.8% decline in NAV) respectively.

Among those funds whose decline in returns was fewer than the decline in KMI-30 index, AKD Islamic Stock Fund (AKD-ISF) has emerged as the best performer in the month of August, having recorded 4.71% falloff in its Net Asset Value (NAV).

AKD-ISF which holds high risk profile mostly played in Cement Sector and Commercial Banks, as it held most of its investments in JVDC (20.74%), BIPL (16.23%) and ASC (12.48%) as of August 2019.

AfterAKD-ISF, the AWT Islamic Stock Fund (AWT-ISF) realized a 5.4% decline in their NAV, followed by JS Islamic fund (JS-ISF) (7.54%).

AWT-ISF comprises moderate to high risk profile, held most of its shares in Fertilizer and Textile Composite with the maximum investment in EPCL (13.89%) followed by NML (13.35%) during the month under review.

While, JS-ISF carries high risk profile, played mostly in Oil and GAS Exploration Companies and Commercial Banks. During the month, the fund held over 8% of its shareholdings in MEBL, HUBCO and MARI.

In terms of Payout, only JS Islamic Fund gave out dividend of Rs 20 per share in August.

\"\"

At last, a corresponding look at the trend followed by KMI – 30 index which tracks the 30 most liquid Shariah compliant companies listed at PSX, provides a clearer picture that justifies the decline in these funds’ performance during the month.

\"\"

Copyright Mettis Link News

 

 

Related News

Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 18, 2025 at 07:21 PM GMT+05:00

Pakistan strengthens UK trade links


July 18, 2025 at 05:36 PM GMT+05:00

Pakistan, China set to advance agricultural innovation


July 18, 2025 at 05:10 PM GMT+05:00

PSX Closing Bell: Riding High, Ending Low



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg