It gives me immense pleasure to learn that the Mutual Funds Association of Pakistan (MUFAP) is bringing out a newspaper supplement to honour the best performing funds for the year 2004 by holding a Performance Excellence Award Ceremony on 26th April at Islamabad. I would like to congratulate the management of PICIC Growth Fund, Safeway Mutual Fund, Pakistan Stock Market Fund, National Investment Trust, and Pakistan Income Fund for their excellent performance in the year 2004.
Mutual Fund industry is growing slowly in Pakistan and its coverage is still low. It requires aggressive marketing, higher outreach through elaborate distribution network and professional management of quality to attract retail investors. The MUFAP should take steps to embark upon a nation-wide program of investor education to address the concerns of the uninformed and new entrants. In doing so, the Mutual Funds will attract more customers and expand their investor base.
I am confident that the Mutual Fund Managers will bring in innovative products and services to cater to the needs of the retail investors as well as expand the distribution channels.
I which MUFAP all the success in its endeavours.
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