Karachi: UBL Pakistan Enterprise Exchange Traded Fund (UBLP-ETF), managed by Mubashir Anis, CFA, reported a slight decline in its performance for July 2024, with a net asset value (NAV) decrease of 0.04% month-on-month, aligning with its benchmark performance.

In July 2024, UBLP-ETF's NAV fell from PKR 17.2883 to PKR 17.2806. This marginal decline mirrored the movement in the UBL PSX Pakistan Enterprise Index, the fund's benchmark, which also saw no gains in July. Despite this monthly dip, the fund has achieved a significant compound annual growth rate (CAGR) of 20.83% since its inception on March 24, 2020, although it trails the benchmark's CAGR of 23.41%.

According to information available from the Pakistan Stock Exchange (PSX), the fund's size marginally increased by 2.23% from PKR 46 million in June 2024 to PKR 47 million in July 2024. This growth comes amid a backdrop of high volatility, with the fund maintaining a high-risk profile of principal erosion, as indicated by its standard deviation of 15.54% compared to the benchmark's 16.52%.

The fund's total expense ratio for the fiscal year to date stands at 2.59%, which includes government levies, the Securities and Exchange Commission of Pakistan (SECP) fee, and sales tax, in compliance with the NBFC Regulations, 2008, and MUFAP standardized template.

UBLP-ETF is an open-end fund listed on the PSX and categorizes as an exchange-traded fund. It is managed by the Central Depository Company Pakistan Limited as trustee, with BDO Ebrahim & Co. serving as the auditor. The management company holds a rating of AM1 (VIS) as of December 29, 2023.