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Press Release
Date: 13-Feb-23 PACRA ASSIGNS STAR RANKING TO AKD ISLAMIC STOCK FUND
1-Year |
| Rating Details | Rating Type | Star Ranking | |
| Fund Category | Islamic Equity Fund | ||
| Total Fund In Category | 21 | ||
| Performance Period | 1-Year | ||
| Dissemination Date | Current (13-Feb-23) | Previous (10-Aug-22) | |
| Ranking | 2-Star | 3-Star | |
| Rating Rationale |
During CY22 the KMI-30 index (the benchmark) declined by 4.76% due to political turbulence, heightened economic risks arising from devastating floods, elevated inflation, slowing economic growth, PKR devaluation, and declining foreign exchange reserves. PACRA-ranked funds comprise three funds among the universe of twenty-one funds. While the category average showed a negative return of -11.94%, the top-performing fund in the category showed a return of 1.83%. AKD Islamic Stock Fund (the "Fund") ranked 2-Star. Total return of AKD Islamic Stock Fund in 1-year is -18.47%. In the end Dec'22, the Fund generated income by investing ~0.65% in Debt & Money Market Securities and to generate capital appreciation invested ~97.67% in Equity & Equity related securities. Sector wise, the Fund invested ~20.61% in Commercial Banks, ~17.83% in power generation & distribution, ~16.53% in refinery, ~10.54% in food & personal care products, ~9.29% in pharmaceuticals and remaining ~25.20% in others. 
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| Regulatory Disclosures | Analyst | Applicable Criteria | Related Research |
| Muhammad Azmat Shaheen azmat.shaheen@pacra.com +92-42-35869504 www.pacra.com |
Assessment Framework | Performance Ranking | Jun-22 |
Sector Study | Mutual Funds | Performance | Feb-22 |
| Disclaimer | This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA. The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor. |
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Press Release
Date: 13-Feb-23 PACRA ASSIGNS STAR RANKING TO AKD ISLAMIC STOCK FUND
3-Year |
| Rating Details | Rating Type | Star Ranking | |
| Fund Category | Islamic Equity Fund | ||
| Total Fund In Category | 21 | ||
| Performance Period | 3-Year | ||
| Dissemination Date | Current (13-Feb-23) | Previous (10-Aug-22) | |
| Ranking | 4-Star | 5-Star | |
| Rating Rationale |
During 3-year the KMI-30 index (the benchmark) increased by 3.40% besides heightened economic risks arising from Coronavirus pandemic, strict lockdowns, elevated inflation, slowing economic growth, PKR devaluation, political turbulence and declining foreign exchange reserves. PACRA-ranked funds comprise three funds among the universe of twenty-one funds. While the category average showed a negative return of -19.84%, the top-performing fund in the category showed a return of 8.64%. AKD Islamic Stock Fund (the "Fund") ranked 4-Star. Total return of AKD Islamic Stock Fund in 3-year is -4.87%. In the end Dec'22, the Fund generated income by investing ~0.65% in Debt & Money Market Securities and to generate capital appreciation invested ~97.67% in Equity & Equity related securities. Sector wise, the Fund invested ~20.61% in Commercial Banks, ~17.83% in power generation & distribution, ~16.53% in refinery, ~10.54% in food & personal care products, ~9.29% in pharmaceuticals and remaining ~25.20% in others. 
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|
| Regulatory Disclosures | Analyst | Applicable Criteria | Related Research |
| Muhammad Azmat Shaheen azmat.shaheen@pacra.com +92-42-35869504 www.pacra.com |
Assessment Framework | Performance Ranking | Jun-22 |
Sector Study | Mutual Funds | Performance | Feb-22 |
| Disclaimer | This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA. The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor. |