The mutual funds industry has appreciated by 5.2 percent on month-on-month basis in November 2010 to reach at Rs 225 billion. This increase was mainly on the back of equity related funds increasing by 3.6 percent as well as Islamic income funds category rising by more than 100 percent, Mazhar Sabir, an analyst at Invest Capital and Securities said.
The Meezan Sovereign Fund (an open-ended Islamic income fund) reached Rs 7.0 billion, from the figure of Rs 1.24 billion, a month earlier. He said that the open-ended funds increased with a pace of 5 percent while closed end funds also grew with the same pace to reach at Rs 197 billion and Rs 28 billion respectively.
He said that overall, the size of the industry has grown by 13 percent on year-on-year basis during first five month of FY11 but has posted a meagre growth of 0.2 percent year-to-date. During last one year, the global markets have shown tremendous growth translating into the global mutual fund industry appreciating by 24 percent on year-on-year basis to $27.6 trillion.
The industry can be segregated into 7 different regions with 96,379 funds domiciled in 99 nations. With the market share of 45 percent, the US industry remains the largest in the world managing a fund size of $12.47 trillion. This is followed by the Eurozone, with a market share of 33 percent while mutual fund industry of Japan and East Asia collectively contribute 15 percent. Other developing countries as a group accounted for less than 7 percent share.
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