News

With the end of the current financial year, UTP-Islamic Fund, Pakistan’s first Shariah Compliant Mutual Fund has set a new bench mark for performance in its category.

This was revealed when results were declared at the close of the financial period when the fund declared a stock dividend of 17%, amounting to Rs. 85 per unit. In overall terms the fund’s performance exceeds 30% on an average annualized basis in terms of actual performance.

During the current fiscal year, the appreciation in NAV comes to 26.46%, which exceeds the performance of its competitor over the same period by just under 3%.

Overall, in terms of performance the globally accepted benchmark for a funds performance remains its Average Annualized Return, which comes to 30.87% for the UTP – Islamic Fund, beating its competitor by over 4%.

The supremacy of the fund, in terms of performance makes it the leader in all respects and is a reflection of the trust placed in its management at ABAMCO Limited by its investors.