Pakistan’s mutual funds sector recorded a healthy 5.6% month-on-month (MoM) increase in total Assets Under Management (AUM), rising from PKR 4,306 billion as of November 30, 2025, to PKR 4,548 billion by December 31, 2025.
This expansion reflects strong investor confidence, supported by upward momentum in equities and steady inflows into fixed-income and money market products.
Equity AUM grew modestly by 6.0% MoM to PKR 660 billion from PKR 622 billion, maintaining its share at around 14.5% of total AUM.
The industry’s performance aligns with positive macroeconomic indicators, including stable rupee and declining inflation trends in late 2025.
Top Performers Lead Charge with Double-Digit Gains
Al Meezan Investments (Al Meezan IML) retained its leadership with AUM climbing 4.2% MoM to PKR 694.5 billion, bolstered by a 5.0% rise in equity portion to PKR 116.8 billion.
NBP Funds followed closely at PKR 524.5 billion (up 3.1%), while MCB Funds posted the strongest growth among majors at 7.0% MoM to PKR 429.4 billion, with equity AUM surging 12.1%. Other notable gainers included UBL Funds (up 2.2% to PKR 399.9 billion), Alfalah AML (6.0% to PKR 351.0 billion), and smaller players like Lucky Invest (10.7% to PKR 131.4 billion) and JSIL (17.3% to PKR 125.5 billion).
Fund distribution showed money market (22%), income (21%), and Shariah-compliant products dominating, with equity at 9% and Shariah-compliant equity at 6%.
The sector’s resilience highlights growing retail and institutional participation despite global uncertainties.