Press Release

Date: 13-Aug-24

PACRA Assigns Star Ranking to NBP 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-Aug-24) Previous (14-Feb-24)
Ranking 3-Star 3-Star

Rating Rationale

During FY24, the KSE-100, KSE-30 index and KMI-30 improved by ~89.24%, 94.99% and ~78.69%. This notable upswing was propelled by changing macroeconomic drivers, initiated by the approval of the IMF program by mid of the year followed by the decline in policy rate, revival of foreign investment, stability in PKR: USD parity and improvement in foreign exchange reserves to reach USD 13.9bln as of Jun’24. PACRA ranked three funds among the universe of twenty-one funds. The category average showed a positive return of ~79.44%. While the top-performing fund in the category showed a return of ~98.34%. NBP Islamic Stock Fund ranked 3 star. The total return of the NBP Islamic Stock Fund in 1-year is ~73.9% which is in line with the stock market return of ~78.69%. At the end of Jun'24, the Fund generates income by investing ~95.8% in Equities and ~3.3% in cash. Sector-wise Fund invested ~28.6% in Oil & Gas Exploration Companies, ~15.4% in Cement Companies, ~11% in Power Generation & Distribution, ~9.7% in Commercial Banks, ~7.8% in Fertilizer and ~23.3% in others at the end of Jun'24.


Regulatory Disclosures Analyst Applicable Criteria Related Research
Hassaan Ahmad
Hassaan.Ahmad@pacra.com
+92-42-35869504
www.pacra.com

Assessment Framework | Performance Ranking | Jul-24

Sector Study | Mutual Funds | Feb-24

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.
Press Release

Date: 13-Aug-24

PACRA Assigns Star Ranking to NBP 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-Aug-24) Previous (14-Feb-24)
Ranking 3-Star 3-Star

Rating Rationale

During 3-year, the overall market faced numerous economic challenges; delays in the resumption of the IMF program, a growing fiscal deficit, and fluctuation in the policy rate and inflation. PACRA ranked two funds among the universe of eighteen funds. The category average showed a return of ~45.63%. While top-performing fund in 3-Year of the category showed a return of ~89.44%. NBP Islamic Stock Fund ranked 3 Star. The total return of NBP Islamic Stock Fund in 3-year is ~41.78% which is underperformed as compared to the stock market return of 64.99%. At the end of Jun'24, the Fund generates income by investing ~95.8% in Equities and ~3.3% in cash. Sector-wise Fund invested ~28.6% in Oil & Gas Exploration Companies, ~15.4% in Cement Companies, ~11% in Power Generation & Distribution, ~9.7% in Commercial Banks, ~7.8% in Fertilizer and ~23.3% in others at the end of Jun'24.


Regulatory Disclosures Analyst Applicable Criteria Related Research
Hassaan Ahmad
Hassaan.Ahmad@pacra.com
+92-42-35869504
www.pacra.com

Assessment Framework | Performance Ranking | Jul-24

Sector Study | Mutual Funds | Feb-24

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.
Press Release

Date: 13-Aug-24

PACRA Assigns Star Ranking to NBP Islamic Stock Fund
5-Year

Rating Details Rating Type Star Ranking
Fund Category Islamic Equity Fund
Total Fund In Category 21
Performance Period 5-Year
Dissemination Date Current (13-Aug-24) Previous (14-Feb-24)
Ranking 4-Star 4-Star

Rating Rationale

During 5-year, the overall market faced numerous economic challenges; delays in the resumption of the IMF program, a growing fiscal deficit, and fluctuation in the policy rate and inflation. The year 2020 was a year of severe distress due to Covid which impacted the stock market significantly. PACRA ranked two funds among the universe of eighteen funds. The category average showed a return of ~95.60% while top-performing fund in 5-Year of the category showed a return of ~126.87%. NBP Islamic Stock Fund ranked 4 Star. The total return of NBP Islamic Stock Fund in 5-year is ~100.72% which underperformed with stock market return of ~133.60%. At the end of Jun'24, the Fund generates income by investing ~95.8% in Equities and ~3.3% in cash. Sector-wise Fund invested ~28.6% in Oil & Gas Exploration Companies, ~15.4% in Cement Companies, ~11% in Power Generation & Distribution, ~9.7% in Commercial Banks, ~7.8% in Fertilizer and ~23.3% in others at the end of Jun'24.


Regulatory Disclosures Analyst Applicable Criteria Related Research
Hassaan Ahmad
Hassaan.Ahmad@pacra.com
+92-42-35869504
www.pacra.com

Assessment Framework | Performance Ranking | Jul-24

Sector Study | Mutual Funds | Feb-24

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.