Karachi: The Meezan Pakistan Exchange Traded Fund (MP-ETF), a Shariah-compliant fund listed on the Pakistan Stock Exchange (PSX), reported a significant growth in net assets for the month of March 2025. The fund's net assets rose to Rs. 0.28 billion, marking an 11.45% increase from February's Rs. 254 million.
The MP-ETF, launched on October 5, 2020, aims to track the performance of the Meezan Pakistan Index, which comprises Shariah-compliant equities selected based on market capitalization and traded value. The fund's net asset value (NAV) per unit also saw an increase of 7.77%, reaching Rs. 18.32 in March, up from Rs. 17.00 in February. This growth aligns with the fund's investment objective and benchmark performance, which saw a 7.77% rise compared to the benchmark's 8.15% for the same period.
According to information available from the Pakistan Stock Exchange (PSX), the fund is categorized as an open-ended Shariah Compliant Exchange Traded Fund and carries a high-risk profile. It is managed by Ali Hassan Khan, CFA, FRM, with an investment committee comprising industry professionals. The fund is designed to offer investors access to a diversified portfolio of securities, with lower fee structures and transparency of holdings.
The fund's asset allocation in March 2025 showed a slight shift, with equity holdings accounting for 96.02%, cash at 3.61%, and other receivables at 0.37%. The top ten equity holdings of the fund include significant stakes in The Hub Power Company Limited, Engro Fertilizers Limited, and Meezan Bank Limited, among others.
Performance metrics indicate that the MP-ETF has delivered cumulative returns of 132.23% over three years and 19.19% compounded annual growth rate (CAGR) since its inception. The fund's annual performance for fiscal year 2024 stood at 85.78%, compared to the benchmark's 93.94%.
The MP-ETF is positioned to offer investors the ability to trade like a stock, with the flexibility of being bought or sold on the exchange during market hours. Its investment policy is aligned with the KMI-30 index, ensuring that selected liquid stocks meet the security selection criteria to achieve the fund's investment objectives.