Karachi: The Meezan Pakistan Exchange Traded Fund (MP-ETF) experienced a notable growth in its net assets, reaching Rs. 1.61 billion as of May 31, 2026. The fund demonstrated a significant move with a 12.92% increase in its net assets compared to the previous month.
The MP-ETF, launched on October 5, 2020, is a Shariah-compliant open-end fund that allows investors to track the performance of the Meezan Pakistan Index (MZNPI). This index is curated by Al Meezan and includes Shariah-compliant equity securities chosen based on market capitalization and trading value.
According to information available from the Pakistan Stock Exchange (PSX), the fund’s Net Asset Value (NAV) per unit rose by 6.90% during May, indicating a robust monthly performance. This growth aligns closely with a peer group average return of 6.53% for the same period.
The MP-ETF is categorized under Shariah Compliant Exchange Traded Funds, with a high-risk profile and managed by Muhammad Zohaib Jawaid, CFA. The fund’s performance is benchmarked against the Meezan Pakistan Index, with a management fee capped at 0.75% and an actual rate of 0.50%.
The fund has recorded cumulative returns across various periods, including a 36.75% return over the past year and a 231.63% return over three years. However, it slightly underperformed its benchmark, which posted a 39.37% return for the past year and a 256.33% return over three years.
The expense ratio for the fund stood at 1.52% month-to-date and 1.35% year-to-date, inclusive of levies and taxes. The fund is audited by A.F. Ferguson & Company and has received an AM1 rating from PACRA and VIS, highlighting its strong management and governance standards.
The designated market category for the MP-ETF is the Pakistan Stock Exchange, where it is actively listed and traded through authorized participants like JS Global, Adam Securities, and MRA Securities.