Fund managers have a heavy responsibility of managing investors monies. And talking about Pakistan, one must say that some of the fund managers have been doing a great job in that regard, which is why local mutual funds are now being recognised globally.
In the recent Lipper Fund Awards, out of a total of 76 best Islamic funds from across the globe, funds from Pakistan secured a good number of 6 awards. These funds include Meezan Islamic Income Fund (4 awards), UBL Islamic Retirment Savings Fund (1 award) and JS Islamic Fund (1 award).
Lipper, a Thomson Reuters Company, tracks global mutual funds performance and honors the ones having a consistent track record of delivering sound risk-adjusted performance in relation to their peers in 17 countries across the globe.
UBL Islamic Retirement Savings Fund has been accredited on the basis of 1-year of strong performance, JS Islamic Fund on the basis of 2-years while Meezan Islamic Income Fund by managing to deliver sound performance year after year emerged out as the best fund on the basis of 1-year, 2-year, 3-year and 5-year.
It should be noted that this is not the first time that mutual funds from Pakistan have made it to the list of top performing funds. Recall that 15 equity funds from Pakistan were spotted in the list of 100 best performing funds in the world in 2012, according to Thomson Reuters Lipper.
Having being recognised globally, one can say that these funds have passed the initial screening test of foreign fund managers and other foreign investors who prefer quality good portfolios with a balance between volatility and returns.
The pre-emptive investment management style of JS Islamic Fund, focus on value-driven stocks for UBL Islamic Retirement Savings Fund and far-sighted credit assessment for Meezan Islamic Income Fund have been highlighted as the grounds by their respective fund managers, that have led them to outperform their peer funds on a risk-adjusted basis.
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Classification Period Fund Name
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Bond Pakistan Rupee 1 Year Meezan Islamic Income Fund Type B
Equity Pakistan 1 Year UBL Islamic Retirement Saving Fund Equity
Bond Pakistan Rupee 2 Years Meezan Islamic Income Fund Type B
Equity Pakistan 2 Years JS Islamic Fund
Bond Pakistan Rupee 3 Years Meezan Islamic Income Fund Type B
Bond Pakistan Rupee 5 Years Meezan Islamic Income Fund Type B
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Source: Lippers Fund Awards 2014
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