PAKISTAN: The mutual funds industry grew by 16.1% to PKR259 billion (US$3 billion) in the seven-month period ended the 30th July 2011 compared to the corresponding period last year, according to a report by Invest Capital and Securities (InvestCap).
The growth was mainly contributed by the money market and Islamic income funds, which increased by 81% to PKR90 billion (US$1.03 billion) and 47% to PKR22 billion (US$253.31 million) respectively.
The industry has also witnessed a 12.5% increase in its compound annual growth rate over the five-year period beginning 2006.