Islamic Mutual Funds: Ball now in SECP and MUFAP court
MSF has corrected the benchmark. Next Islamic Money Markey funds need to move away from bank deposit rates to a better benchmark.
Lo and behold.
They say a picture is worth a thousand words. Aforementioned image clearly demonstrates how misleading and inaccurate the previous benchmark was.
However, job of MUFAP and SECP isn’t done till all the Islamic asset managers change the benchmark of Islamic money market funds from bank deposit rates to a more relevant benchmark.
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