Islamic Mutual Funds surge by 17.57pct during Q2FY12
1/27/2012 2:46:42 PM
By Riffat Mughal
Pakistan’s Islamic mutual funds performed better during the second quarter of financial year (Q2FY12) as net assets of all Islamic funds increased by 17.57 percent to Rs 47.812 billion as against Rs 40.67 billion during Q1FY12.
Net assets of Islamic Open end funds went up by 18.36 percent and reached Rs 45.405 billion during Q2FY12 as compared with Rs 38.361 billion during last quarter. Islamic pension funds also surged up by 13.43 percent to Rs 1.079 billion; however, Islamic closed end funds declined by 1.97 percent to Rs 1.327 billion.
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