LAHORE: Lahore Chamber of Commerce and Industry organised a seminar on Mutual Fund Industry in Pakistan with the aim of creating awareness and providing information to the people regarding the benefits and importance of Mutual Funds.
The seminar was presided over by President of Lahore Chamber of Commerce and Industry Kashif Anwar while Chief Executive Officer of Khalid Associate Global Khalid Hussain, Chief Executive Officer of ABL Funds Naveed Naseem, Head Product Development ABL Funds Sulaim Nansey, Regional Head Salman Ahmed and other experts addressed the seminar.
The speakers informed the participants about the basics of mutual funds and knowledge including how to invest. They said that the introduction of saving culture in Pakistan is very important because it has played a great role in progress and prosperity of the developed world.
They said that the objective of this session is to enlighten people as they are afraid of money loss into mutual funds. They said that there is a tendency in Pakistan to keep savings at home even though the economic principle is to get benefits from savings. They said that the value of savings at home decreases due to inflation. They said that mutual funds grow the money of savings in a safe way.
Experts added that mutual funds mitigate the effects of inflation, risks of currency depreciation, interest rate hikes, liquidity etc and help in asset management.
They said that 65 trillion dollars are being managed through mutual funds worldwide. 30 trillion dollars in USA, 29 trillion dollars in European Union, 520 billion dollars in India, 50 billion dollars in GCC and only 7 billion dollars in Pakistan are part of mutual funds.
They said that asset management companies have recorded a remarkable 225 percent growth in the recent period, while there are 315 categories of mutual funds. They said that the mutual funds help in technology transfer besides bring capital into circulation.
Copyright Business Recorder, 2023
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