Analysis: Islamic Funds vs. Non Islamic Funds
By Riffat Mughal Mutual Funds Association of Pakistan (MUFAP) has indicated that mutual fund industry has seen growth of 23.95 percent during the year end on June 30, 2011 while 7.87 percent during fourth quarter of financial year 2010-11 (4Q-FY10-11). MUFAP reveals that industry's total net assets expanded by 7.87 percent on quarter over quarter basis. Industry Net Assets jumped by 7.87% Overall mutual fund industry shined in fourth quarter as its growth increased by 7.87 percent during 4Q-FY10-11 as industry's net assets increased to Rs 248.012 billion. Net Assets- Open End 4Q-FY10-11 Review The overall open-end funds (inclusive both Islamic and non Islamic funds) witnessed growth of 9.79 percent and net assets of the category surged to Rs. 222.537 billion. In open end Asset Allocation Fund net assets declined by 0.84 percent to Rs 3.066 billion and Islamic Asset Allocation Fund also fell by 2.77 percent to Rs 1.263 billion in 4Q-FY10-11. Open end Balanced...