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PACRA Assigns Star Ranking to AKD Islamic Stock Fund 3-Year

Lahore, August 16, 2023 (PPI-OT): During 3-year the overall market declined due to numerous economic challenges, delays in the resumption of the IMF programmed, a growing fiscal deficit, soaring inflation, and increase in the policy rate. PACRA ranked funds comprise of three funds among the universe of twenty-one funds. The category average showed a negative return of 6.06%. While AKD Islamic Stock Fund is the top performing fund in 3-Year of the category showed a return of ~11.07% which is in line with the stock market return of 28.6%. AKD Islamic Stock Fund ranked 4 Star.

In the end Jun'23, Fund's generate income by investing ~89.61% in Equities whereas ~0.86% in cash. Sector-wise Fund invested ~22.83% in Power Generation and Distribution, ~17.06% in Textile Spinning, and ~16% in Food and Personal Care Products. Whereas ~9.16% in Refinery, ~7.62% in Automobile Parts and Accessories and ~27.34% in others at the end Jun'23.

For more information, contact:

Analyst,

The Pakistan Credit Rating Agency Limited (PACRA)

Awami Complex, FB1, Usman Block New Garden Town,

Lahore, Pakistan

Tel: +92-42-5869504-6

Fax: +92-42-5830425

Email: hammad.rashid@pacra.com

Website: www.pacra.com

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