Karachi: Meezan Paaidaar Munafa Plan Series Outperforms Benchmarks

The Meezan Paaidaar Munafa Plan series, managed by Al Meezan Investment Management Limited, has reported robust performance figures for the fiscal year ending June 30, 2024, delivering significant returns above their respective benchmarks. These investment plans are designed to offer investors competitive returns through Shariah-compliant fixed-term investments.

According to information available from the Pakistan Stock Exchange (PSX), the various plans within the series, designated as MPMP-V to MPMP-XII, demonstrated returns ranging from 20.21% to 24.61%, significantly outperforming their benchmarks which hovered around 10% to 11.20%. The outstanding performance of these plans can be attributed to strategic placements in Time Deposit Receipts (TDRs) and money market instruments.

For instance, the Meezan Paaidaar Munafa Plan-VIII (MPMP-VIII) recorded a return of 20.29% against a benchmark of 11.08%, marking an outperformance of 9.21%. Similarly, the MPMP-XII achieved the highest differential, boasting a 24.61% return against a 10.46% benchmark, resulting in an impressive 14.15% outperformance.

The net asset value (NAV) per unit for all plans was consistently pegged at PKR 50.00, with marginal fluctuations across the series. Notably, the gross income across the series ranged markedly, with the highest being Rs. 942 million for MPMP-V, driven by profits from placements and Sukuks.

Each plan has also declared distributions, with rates varying from 1.50% to 20.00%, reflecting the diverse strategy and performance of each fund within the series. The interim payout for MPMP-VII, for example, was noted at 20.00% per unit, illustrating a generous return to its investors.

The performance of the Meezan Fixed Term Fund series underscores the robustness of Shariah-compliant investment opportunities in Pakistan's financial markets, particularly appealing to investors seeking ethical and competitive returns.