Fund rankings · Pakistan
Every Islamic money market 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 AWT Islamic Money Market Fund (Formerly: AWT Money Market Fund) AWT Investments Limited | 11.07% | Under 3 yrs old | Under 5 yrs old | |
2 Atlas Islamic Money Market Fund Atlas Asset Management Limited | 10.95% | 14.71% | 14.71% | |
3 Pak Qatar Daily Dividend Plan Pak-Qatar Asset Management Company Limited | 10.86% | 14.50% | Under 5 yrs old | |
4 Pak Qatar Cash Plan Pak-Qatar Asset Management Company Limited | 10.79% | 14.79% | Under 5 yrs old | |
5 Al Ameen Islamic Cash Plan I UBL Fund Managers Limited | 10.77% | 14.60% | 14.72% | |
6 NBP Islamic Daily Dividend Fund NBP Fund Management Limited | 10.69% | 14.55% | 14.61% | |
7 NBP Islamic Money Market Fund NBP Fund Management Limited | 10.68% | 14.50% | 14.37% | |
8 AKD Islamic Cash Fund (Formerly AKD Islamic Daily Dividend Fund) AKD Investment Management Limited | 10.60% | Unavailable | Under 5 yrs old | |
9 Lakson Islamic Money Market Fund Lakson Investments Limited | 10.55% | 14.21% | Under 5 yrs old | |
10 HBL Islamic Money Market Fund HBL Asset Management Limited | 10.55% | 14.41% | 14.66% | |
11 Alhamra Cash Management Optimizer MCB Investment Management Limited | 10.54% | 14.58% | Under 5 yrs old | |
12 ABL Islamic Money Market Plan I ABL Asset Management Company Limited | 10.53% | Under 3 yrs old | Under 5 yrs old | |
13 Atlas Islamic Cash Fund Atlas Asset Management Limited | 10.51% | Under 3 yrs old | Under 5 yrs old | |
14 ABL Islamic Cash Fund ABL Asset Management Company Limited | 10.49% | 14.60% | 14.70% | |
15 NIT Islamic Money Market Fund National Investment Trust Limited | 10.48% | 14.40% | Under 5 yrs old | |
16 Alfalah Islamic Money Market Fund Alfalah Asset Management Limited | 10.41% | 14.53% | Under 5 yrs old | |
17 Lucky Islamic Money Market Fund Lucky Investments Limited | 10.41% | Under 3 yrs old | Under 5 yrs old | |
18 Mahaana Islamic Cash Fund Mahaana Wealth Limited | 10.31% | 14.83% | Under 5 yrs old | |
19 AL Habib Islamic Cash Fund AL Habib Asset Management Limited | 10.28% | 14.13% | Under 5 yrs old | |
20 JS Islamic Money Market Fund (Formerly: JS Islamic Daily Dividend Fund) JS Investments Limited | 10.22% | 14.34% | 14.46% | |
21 Al Ameen Islamic Cash Fund UBL Fund Managers Limited | 10.00% | 14.12% | 14.14% | |
22 Alfalah Islamic Rozana Amdani Fund Alfalah Asset Management Limited | 9.89% | 10.15% | 12.04% | |
23 786 Islamic Money Market Fund 786 Investments Limited | 9.83% | Under 3 yrs old | Under 5 yrs old | |
24 Meezan Cash Fund Al Meezan Investment Management Limited | 9.74% | 13.81% | 13.85% | |
25 Meezan Rozana Amdani Fund Al Meezan Investment Management Limited | 9.72% | 13.93% | 14.28% | |
26 HBL Islamic Savings Plan I HBL Asset Management Limited | 9.67% | Under 3 yrs old | Under 5 yrs old | |
27 Alhamra Islamic Money Market Fund MCB Investment Management Limited | 9.67% | 14.11% | 14.42% | |
28 Faysal Islamic Cash Fund Faysal Asset Management Limited | 9.46% | 14.24% | 14.66% | |
29 Faysal Halal Amdani Fund Faysal Asset Management Limited | 9.41% | 13.74% | 14.23% | |
30 Pak Oman Daily Dividend Fund Pak Oman Asset Management Company Limited | 1.88% | 8.44% | Under 5 yrs old |