PAKISTAN: The mutual fund industry in the country has posted a 4.5% growth to reach US$2.8 billion for 2011 as more investors are investing in funds.
Except for closed-ended funds which shrank by 2.3% month-on-month to US$2.52 billion, all other categories of funds witnessed an upward trend. This includes Islamic funds which climbed 7%.
The mutual funds industry in Pakistan previously posted a 21% growth for the 10 months of the financial year (July 2010 – April 2011), aided by a 182% increase in Islamic funds to US$200 million.