During FY12 the local mutual funds industry remained in upward trajectory as the Asset Under Management (AUM) posted a significant appreciation of 51%Year over Year this year. The growth momentum this year stood almost twice compared to the growth of 25% witnessed last year, AUM said. Major growth was witnessed in the size of income, money market, Islamic income and Islamic money market funds, which surged by 124%YoY, 95%YoY, 43%YoY and 22%YoY respectively. An aerial view reveals that, major growth was witnessed in the AUM of the ABL Asset Management and NAFA Funds, which grew by solid 233%YoY and 102%YoY respectively during FY12. “The main reason of such growth was induction of new funds under the umbrella of the company as well as appreciation in the size of income and money market funds of the respective fund managers,” viewed Mazhar A. Sabir, an analyst at Investcap Research. On Quarter on Quarter basis, he said, the performance during the 1QFY12 stood relatively depressing posting the decline of 1.2% during Jul-Sept 2012, however later three quarters of FY12 witnessed robust growth of average 15% QoQ of FY12 in the size of Mutual Fund Industry. However on monthly basis, the industry posted the decline of 3%MoM to reach at Rs379bn, as compared with the figure of Rs390bn, a month ago.Out of Rs11bn redemption witnessed during the month, 70% contributed by three funds, namely ABL-Cash Fund (reduction: Rs5.3bn), UBL Liquidity Plus Fund (reduction: Rs1.4bn) and Meezan Cash Fund (reduction: Rs1.1bn).
