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PACRA Assigns Star Ranking to First Capital Mutual Fund 5-Year

Lahore, August 16, 2023 (PPI-OT): During 5-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 four funds among the universe of twenty-eight funds. The category average showed a negative return of -11.8%. While top performing fund in the category showed a return of ~10.5%. First Capital Mutual Fund ranked 1 Star. Total return of First Capital Mutual Fund in 5-year is -29.16%.

The year 2020 was a year of severe distress due to Covid which impacted the stock market significantly with negative returns of -28.8%. Resultantly, the year also impacted the Fund's return which is also evident from 3-Years cumulative returns. In the end Jun’23, Fund’s generate income by investing ~71.45% in equities and ~23.81% in cash. Sector-wise Fund majority invested ~13.13% in Commercial Banks, ~9.91% in Oil and Gas Exploration, ~7.52% in Oil and Gas Marketing Com. and ~24.36% in others.

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

The post PACRA Assigns Star Ranking to First Capital Mutual Fund 5-Year appeared first on Pakistan Business News.