A mutual fund that invests principally in stocks.

It can be actively or
passively (index fund) managed. Investopedia explains 'Equity Fund'
Stock mutual funds are principally categorized according to company size,
the investment style of the holdings in the portfolio and geography


In case you are unaware, 15 equity funds from Pakistan were spotted in the
list of top 100 best performing equity funds in 2012, according to an
analysis by Thomson Reuters Lipper, who actively tracks managed mutual
funds worldwide. The analysis was based on a set of 27,153 actively
managed equity mutual funds. But this was the case last year, whether
Pakistani mutual funds are on the same pace now is yet to be disclosed.

Having faced a bright season last year, the fortune of fixed income mutual
funds dived downwards as average industry return for Income Funds which
hovered around 10 percent in CY12, narrowed down to 7.8 percent in
CY13. The same happened to money market funds whose returns plunged
by nearly 215 basis points to 8 percent in CY13.

This dip can be justified by analyzing the trend in discount rates over the
period. Year 2012 started on a high interest rate regime when the average
discount rate was about 11 percent. However, 2013 marked the regime of
low interest rates, when the average inflation dropped to 9.35 percent.

As the rates on fixed income instruments move in tandem with changes in
discount rates, decline in interest rates over the period pushed the rates on
fixed income instruments down and, therefore, the returns on fixed income
funds.

Similarly, for asset allocation and balanced funds, preset allocation in fixed
income instruments took a toll on the performance of these funds as well.

While KSE-100 rallied to cross the 25,000 level by the end of 2013 equity
mutual funds prospered as the average industry return increased by more
than 300 bps to 49 percent in CY13, thus actively tracking the benchmark
index which in contrast mustered a return of 51 percent.

Mutual funds under the fund of funds scheme appeared to have chased the
philosophy of "picking up the right portfolio mix at the right time" as the
average industry return for this category stacked up considerably from
21.65 percent to a handsome 33.10 percent.

With all eyes on upcoming monetary policy, where market participants
expect SBP to maintain the status quo, fixed income fund managers are
endeavouring to raise the duration of their portfolio to slash the impact of
reval losses on their fund performance. As the equity market is anticipated
to touch fresh highs in forthcoming months, the performance of equity
funds is anticipated to be better than CY13.

Islamic Banking
in the mid-forties and another in Pakistan in the late-fifties. Neither
survived. In 1962 the Malaysian government set up the Pilgrims
Management Fund to help prospective pilgrims to save and profit.
The savings bank established in 1963 at Mit-Ghamr in Egypt was
very popular and prospered...
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Bop Annual Report 2008
Market Treasury Bills Pakistan Investment Bonds Government
of Pakistan Ijara Sukuk Bonds Ordinary shares / certificates of listed
companies and Modarabas Preference shares of listed companies
Ordinary shares of unlisted companies NIT Units Investment
in Mutual Funds Listed Term Finance Certificates...
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Investor's Perception
know about investors perceptions on Mutual funds investment in
Bangladesh. Scope of study This study is a part of academic
curriculum of the BBA student. The collected data and information
have been tabulated, processed and analyzed carefully and report
has been prepared in...
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Commercial Banking
Bank in Pakistan by the Asian Banker. The award is referred by
prominent global bankers, consultants and academics.
The evaluation was conducted on the basis of transparency in
strategy; value of franchise; annual financial performance;
sustainability; sales capability; risk management; processes and...
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Factors Affecting Financial Advisor's Perception in Portfolio
Management: with Reference to Pakistan
earnings through investment in stocks, bonds and mutual funds, as
oppose to investment in commodities such as gold or land which has
been the case in the past. Recent growth in financial markets have
also increased reliance of investors on financial advisors who do not
always make clinical evaluations...
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Askari Bank Annual Report
of expansion achieved by the Bank in recent years.
The performance of Askari Investment Management Limited (AIML),
which is a wholly owned subsidiary of the Bank, was subdued mainly
due to adverse market conditions for mutual funds and asset
management companies. Although the stock exchange index...
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Finance
potential impact on growth and development of the futures market. 93
PakistanEconomic Survey 2011-12 Table 6.11: Major highlights
of mutual funds during February 2012 Total assets of Industry* Total
number of funds* Total number of AMCS/IAs* Assets Size of
AMCs/IAs* Discretionary /Non...
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Criteria for Shariah Advisor
position in any other financial institution, except as Shariah Advisor of
Islamicmutual funds of the same IBI, the position should be
regularised within a period of six months by relinquishing either of the
posts. To update the database of Shariah Advisors of IBIs
in Pakistan, all existing IBIs...
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Css-Manager
in India e. Concept & Role of MF f. Types of MF Schemes g.
Major Mutual Funds in India h. 5 Easy steps to Invest
in Mutual Fund i. 5 Pointers to Measure thePerformance MF j. Tax
rules for Mutual Fund Investors k. Advantages & Disadvantages of
MF 8. Who can invest in MF in India 9...
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Mobilink
employees personnel file. Formal written performance reviews will
be conducted with all employees annually. Notification along
with Performance EvaluationForms will be sent from the Human
Resources Department in advance with the
scheduled performance evaluation date. All employees will be
reviewed...
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Hrm in Bank Alfalah
responsible corporate citizen. The emphasis is on Quality and
Innovation will remain our key mission statement. We will continue to
strengthen our position as the leading provider of quality financial
services in Pakistan. THE PHILOSOPHY Excellence in Service
Quality Performance...
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Conventioanl vs Islamic Insurance
Taawun (Mutual Protection). Takaful do not allow what is called
Gharar (uncertainty or speculation) and Maisir (i.e gambling). In
investment or fundmanagement Riba (i.e usury) is also not allowed.
These three Gharar, Maisir and Riba are the areas that must be
totally avoided by the Takaful...
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Performance Evaluation of Merchant Banking
December, 2006 a total of 310 securities were listed at DSE
comprising 255 companies, 13 mutual funds, 8 debentures and 34
treasury bonds as opposed to a total of 249 securities comprising 230
companies, 10 mutual funds and 9 debentures as of December
2001. Thus during the last five years only 54 new...
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Financial Intermediaries
Financial Management FINANCIAL INTERMEDIERIES
IN PAKISTAN Definition: A financial intermediary is an institution,
firm or individual who performs intermediation between two or more
parties in a financial context. Typically the first party is a provider of a
product or...
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Pacra
. | | | MUTUAL FUND RATING METHODOLOGY
INTRODUCTION Mutual fundindustry in Pakistan has shown
impressive growth in recent years. Its acceptance as a useful tool to
deploy funds is on rise amongst both...
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Prudential Regulations
, certificates of mutual funds, Certificates of Investment (COIs)
issued by DFIs/NBFCs rated at least A by a credit rating agency on
the approved panel of State Bank of Pakistan, listed TFCs rated at
least A by a credit rating agency on the approved panel of State
Bank of Pakistan and certificates...
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Prudential Regulations for Small and Medium Enterprises Financing
, certificates of deposit, shares of listed companies which are actively
traded on the stock exchange, NIT Units, certificates
of mutual funds, Certificates of Investment (COIs) issued by DFIs /
NBFCs rated at least A by a credit rating agency on the approved
panel of State Bank of Pakistan, listed...
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Role of the Media in Pakistan
FINANCIAL ANALYSIS STATUS AND NATURE OF BUSINESS
Jubilee General Insurance Company Limited (the Company) is a
public limited company incorporated inPakistan on May 16, 1953.
The Company is listed on the Karachi and Lahore Stock Exchanges
and is engaged in general insurance business. The...
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Investment Patterns of Insurance Companies
financial institutions in Pakistan . (Caillaud, Dionne & Jullien, 2000)
found that it provides a genuine source, together with other long-term
sources of funds, that would enable them get on upon longer term
and more risky investments and loans. An important aspect pointed
out is that the level of...
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Cover Letter
that interest was to be removed from the economy within a period of
3 years.22 Three of the specialized credit institutions-the House
Building Corporation, National Investment Trust,
and Mutual Funds of Investment Corporation ofPakistan?-were to
remove interest from their financing operations...