Best Mutual Funds in Pakistan in 2023 so far
Discover the top-performing mutual funds in Pakistan for 2023, categorized by money market funds, income funds, and stock funds. Get insights into the best mutual funds and their returns in Pakistan's investment landscape
TABLE OF CONTENTS
We look into category-wise best mutual funds in Pakistan in 2023 so far, highlighting the top two mutual funds in Pakistan in each category.
This data has been taken from MUFAP performance page and analyzed further for results.
Let us start!
Time for Equity Funds!
Mutual funds performance in 2023 so far
In 2023 so far, conventional and Islamic cash funds, also called a money market mutual funds did good. They were closely followed by the income funds category while all the other categories/types also performed well in 2023 so far.
PS. The returns are based on 270 days of performance from Jan 2023 till Sep 2023 taken directly from MUFAP’s website.
Also, all the returns noted below are gross returns which means, the actual after-tax returns are lower. Income tax filers pay less tax but non-income tax filers pay to double the tax rate of filers.
Money Market funds
Conventional money market funds/cash funds return in 2023 so far
On average, the total return from Conventional money market funds/cash funds was 20.03%.
The best of the lot, according to the MUFAP data was the NIT Money Market Fund with 20.77% returns and the next best was AWT Money Market Fund with 20.71%.
Islamic money market funds/cash funds return in 2023 so far
On average, the total return from the Islamic money market/cash funds was 19.03%. Usually, Islamic cash fund returns are lower than conventional cash funds but the difference wasn’t big in 2023 so far.
The best from this lot, according to the MUFAP data was Faysal Islamic Cash Fund with 19.61% returns and the next best was HBL Islamic Money Market Fund with 19.58%.
Income Funds
Conventional Income funds return in 2023 so far
On average, the total return from income funds in Pakistan was 19.41%. However, the variation was quite large. For example, the best income fund gave its investor a return of 22.58% while the worst return that an income fund gave was 8.42%.
The best Income fund, according to the MUFAP data was JS Microfinance Sector Fund with 22.61% returns and the next best was Pak Oman Income Fund with 21.70%.
Islamic Income funds return in 2023 so far
On average, the total return from Shariah Compliant income funds in Pakistan was 18.91%. However, once again, the variation was quite large. For example, the best income fund gave its investor a return of 28.72% while the worst return that an income fund gave was 15.90%.
The best Income fund, according to the MUFAP data was Faysal Islamic Special Income Plan I with 28.76% returns and the next best was Pak Oman Advantage Islamic Income Fund with 21.37%.
Stock Funds
Conventional Stock funds return in 2023 so far
Compare to 2022, Equity Funds performed quite well after IMF approved a 3bn$ bailout programme in the 2nd half of 2023.
On average, the total return from Conventional Stock funds in Pakistan was 11.49%.
The best conventional stock fund, according to the MUFAP data, was UBL Financial Sector Fund which gave its investors a return of 34.89% and the next best was NBP Financial Sector Fund with a return of 24.52%.
Islamic Stock funds return in 2023 so far
Like Conventional, Islamic Stock funds or Equity funds also performed compared to the performance in 2022.
The best Islamic stock fund, according to the MUFAP data, was the NBP Islamic Energy fund which gave its investors a return of 17.73% and the next best was Al Ameen Islamic Energy Fund with a return of 15.33%.
The best mutual fund in 2023 so far in Pakistan?
The best mutual fund of 2023 so far was the UBL Financial Sector Fund which gave its investors a total return of 34.89% in 2023 so far.
Explore the leading mutual funds in Pakistan for 2023, including conventional and Islamic options in money market, income, and stock fund categories. Learn about the top performers and their impressive returns