The best-performing equity fund was Golden Arrow Stock Fund by AKD Investment Management. Reuters/File
KARACHI: A majority of equity-based conventional and Islamic mutual funds underperformed their respective benchmarks in 2020-21, data from the Mutual Funds Association of Pakistan (MUFAP) shows.
Only nine of the 27 conventional equity funds posted a return of more than 37.6 per cent, which is the rate by which the benchmark 100-share index grew in the last fiscal year. Three funds posted growth rates just below the benchmark.
MUFAP data showed the increase in net asset values of these funds over preceding 365 days, although the validity dates ranged between June 28 and July 2. Fiscal year ends on June 30.
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