Karachi: The Meezan Pakistan Exchange Traded Fund (MP-ETF), listed on the Pakistan Stock Exchange, reported a notable increase in its net asset value for July 2025. As of July 31, the fund's net assets were recorded at Rs. 0.41 billion, reflecting a very large or significant move of 5.02% in its NAV during the month. The MP-ETF serves as a Shariah-compliant investment vehicle, aiming to mirror the performance of the Meezan Pakistan Index, which is managed by Al Meezan and includes Shariah-compliant equity securities with a focus on market capitalization and traded value.
According to information available from the Pakistan Stock Exchange (PSX), the MP-ETF is classified as an open-ended fund with a high-risk profile under the Shariah Compliant Exchange Traded Fund category. The fund, which was launched on October 5, 2020, utilizes the Meezan Pakistan Index as its benchmark. The Central Depository Company of Pakistan Limited acts as the trustee, with A.F. Ferguson & Company serving as the fund's auditor. The AMC rating is AM1, assigned by PACRA and VIS in May and December 2024, respectively.
The fund is structured for growth, with units traded under the ticker MZNP-ETF. The authorized participants include JS Global, Adam Securities, and MRA Securities. The fund adheres to backward pricing mechanisms with valuation and subscription/redemption days aligning with PSX market hours. The management fee is capped at 0.75%, with the actual rate currently at 0.50%. The fund's management team is led by Ali Hassan Khan, CFA, FRM, along with an investment committee comprising seasoned financial experts.
The top equity holdings within the fund are Engro Holdings Limited, Lucky Cement Limited, and The Hub Power Company Limited, constituting 16.04%, 14.61%, and 14.30% of total assets, respectively. Other notable holdings include Oil & Gas Development Company Limited and Mari Energies Limited, reflecting the fund's diversified investment strategy. This performance highlights the fund's resilience and potential for growth in the Shariah-compliant investment market.