In CY24, the KSE-100, KSE-30, and KMI-30 indices saw significant gains of ~84.36%, 74.47%, and ~70.56%, driven by the IMF program's approval, declining policy rates, foreign portfolio inflows, PKR/USD stability, and rising foreign exchange reserves (USD 15.9B by Dec'24). Within the Balanced Fund category, PACRA rated one out of four funds, with the category’s average return at ~61.11%. NBP Balanced Fund received a 4-Star rating, posting a 1-year return of ~64.47%, though lagging the KSE-100’s 84.36% gain. As of Dec'24, the Fund’s allocation included ~67.9% in equities, ~16.8% in T-Bills, ~10.4% in cash, ~2.4% in TFCs/Sukuks, and ~2.5% in other instruments. Sectorally, it was diversified, with ~16.5% in Oil & Gas Exploration, ~11.6% in Commercial Banks, ~10.3% in Cement, ~9.9% in Fertilizers, and ~3.7% in Textiles. The remaining 15.9% was spread across other sectors. The Fund's balanced strategy aimed to optimize returns while managing liquidity risk.

Over the past three years, Pakistan’s market faced macroeconomic challenges, including IMF delays, fiscal deficits, political uncertainty, and policy rate volatility. Despite this, the Balanced Fund category showed resilience, with the average return at ~108.26%. The top fund returned ~109.86%, and NBP Balanced Fund received a 3-Star rating, posting a return of ~108.68%. As of Dec'24, the Fund’s allocation included ~67.9% in equities, ~16.8% in T-Bills, ~10.4% in cash, ~2.4% in TFCs/Sukuks, and ~2.5% in other instruments. Sector-wise, it had ~16.5% in Oil & Gas Exploration, ~11.6% in Commercial Banks, ~10.3% in Cement, ~9.9% in Fertilizers, and ~3.7% in Textiles. The remaining 15.9% was diversified across other sectors. The Fund’s strategy emphasized risk-adjusted returns while managing liquidity, ensuring consistent performance amid volatility.

Over the past five years, Pakistan’s capital markets faced structural and macroeconomic challenges, including IMF delays, fiscal imbalances, political uncertainty, and inflation volatility. Currency depreciation, a widening current account deficit, and fluctuating interest rates also impacted investor sentiment. Within the Balanced Fund category, PACRA rated one of four funds, with the average five-year return at ~124.87%. NBP Balanced Fund posted a return of ~130.67%, outperforming the category. As of Dec'24, the Fund’s allocation included ~67.9% in equities, ~16.8% in T-Bills, ~10.4% in cash, ~2.4% in TFCs/Sukuks, and ~2.5% in other assets. Sector-wise, it held ~16.5% in Oil & Gas Exploration, ~11.6% in Commercial Banks, ~10.3% in Cement, and ~9.9% in Fertilizers, with ~15.9% across other sectors. The Fund's strategy focused on optimizing returns while managing risk, ensuring long-term competitive performance.