Fund rankings · Pakistan
Every Islamic equity fund with a full year of verified returns, ranked by 1-year total return with payouts reinvested. 3-year and 5-year figures are annualised.
Past performance does not guarantee future results. Returns are calculated from MUFAP NAVs as published, before sales loads and taxes, and end at each fund’s latest NAV with verified payout coverage. Islamic Funds provides information, not investment advice.
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Questions, answered
The tables on this page list the top Shariah-compliant mutual funds in Pakistan in each category by 1-year total return with payouts, with 3-year and 5-year annualised returns alongside. Leaders change as markets move, so check the date each table runs to, and compare funds only within the same category.
Funds are ranked within their MUFAP category by 1-year total return: the change in NAV plus every payout reinvested at its ex-distribution NAV, over the twelve months to the fund’s latest NAV with verified payout coverage. 3-year and 5-year returns are shown as annualised (compound) rates. Returns are before sales loads and taxes; management fees are already reflected in NAV.
A fund is left out if it has less than one year of NAV history, if its payout records for the period are not verified, or if its NAV stopped updating more than a month before the rest of its category (usually a matured or closed plan). We do not estimate missing numbers. Every fund still has its own page in the fund directory.
No. A ranking shows what happened in the past, and one year is a short period, especially for equity funds, whose returns swing with the stock market. The right fund depends on your goal, time horizon and risk tolerance. Compare shortlisted funds over several periods and read their offering documents. Islamic Funds provides information, not investment advice.
Different categories take very different risks. An Islamic equity fund can beat a money market fund in a strong year and lose money in a weak one, while a money market fund aims for steadier, lower returns. Ranking within a category compares funds that are trying to do the same job.
NAVs come from MUFAP every business day, and the rankings are recalculated from them every few hours. Each table shows the date its returns run to.
Total return is the overall gain over the whole period. Annualised return is the steady yearly rate that would produce the same gain, which makes 3-year and 5-year results comparable with a 1-year figure. For example, a 33.1% total return over three years is about 10% a year annualised.
| Rank · fund & asset manager | 1Y total return | 3Y annualised | 5Y annualised | View fund |
|---|---|---|---|---|
1 NBP Islamic Energy Fund NBP Fund Management Limited | 15.34% | 52.28% | 32.49% | |
2 Alhamra Opportunity Fund (Dividend Strategy Plan) MCB Investment Management Limited | 14.44% | Under 3 yrs old | Under 5 yrs old | |
3 Meezan Energy Fund Al Meezan Investment Management Limited | 10.99% | 48.99% | 29.06% | |
4 Al Ameen Islamic Energy Fund UBL Fund Managers Limited | 10.47% | 52.62% | 32.52% | |
5 HBL Islamic Equity Fund HBL Asset Management Limited | 6.63% | 44.72% | 16.58% | |
6 Faysal Islamic Stock Fund II Faysal Asset Management Limited | 4.95% | Under 3 yrs old | Under 5 yrs old | |
7 HBL Islamic Stock Fund HBL Asset Management Limited | 4.53% | 45.51% | 16.85% | |
8 NBP Islamic Stock Fund NBP Fund Management Limited | 3.47% | 48.65% | 24.47% | |
9 Alhamra Islamic Stock Fund MCB Investment Management Limited | 2.48% | 53.55% | 25.98% | |
10 Lucky Islamic Stock Fund Lucky Investments Limited | 1.75% | Under 3 yrs old | Under 5 yrs old | |
11 Al Ameen Shariah Stock Fund UBL Fund Managers Limited | 1.42% | 51.62% | 26.78% | |
12 Pak Qatar Islamic Stock Fund Pak-Qatar Asset Management Company Limited | 0.68% | 34.24% | Under 5 yrs old | |
13 Alfalah GHP Islamic Stock Fund Alfalah Asset Management Limited | 0.62% | 47.55% | 23.91% | |
14 NIT Islamic Equity Fund National Investment Trust Limited | 0.59% | 41.75% | 21.10% | |
15 Meezan Islamic Fund Al Meezan Investment Management Limited | -0.29% | 46.00% | 23.80% | |
16 Al Meezan Mutual Fund Al Meezan Investment Management Limited | -0.45% | 47.44% | 25.40% | |
17 Atlas Islamic Stock Fund Atlas Asset Management Limited | -2.28% | 48.88% | 24.70% | |
18 Faysal Islamic Stock Fund Faysal Asset Management Limited | -2.65% | 42.46% | 15.84% | |
19 AWT Islamic Stock Fund AWT Investments Limited | -2.75% | 44.56% | 20.39% | |
20 AKD Islamic Stock Fund AKD Investment Management Limited | -2.82% | 43.25% | 18.83% | |
21 AL Habib Islamic Stock Fund AL Habib Asset Management Limited | -3.31% | 56.31% | 30.46% | |
22 ABL Islamic Stock Fund ABL Asset Management Company Limited | -3.49% | 43.40% | 21.51% | |
23 JS Islamic Fund JS Investments Limited | -12.12% | 38.83% | 18.75% |