Economic Fluctuations and Mutual Fund Performance in Pakistan: A Comprehensive Analysis Including the COVID-19 Period

Abdul Mateen, Rana Yassir Hussain and Shujah-ur- Rahman
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Abdul Mateen: UE Business School, Division of Management and Administrative Sciences, University of Education, Lahore, 54000, Pakistan
Rana Yassir Hussain: UE Business School, Division of Management and Administrative Sciences, University of Education, Lahore, 54000, Pakistan
Shujah-ur- Rahman: UE Business School, Division of Management and Administrative Sciences, University of Education, Lahore, 54000, Pakistan

Bulletin of Business and Economics (BBE), 2023, vol. 12, issue 3, 878-887

Abstract: This study delves into a decade-long analysis of mutual fund performance in Pakistan, spanning from July 2012 to June 2022. It encompasses the role of macroeconomic determinants on performance of mutual funds (i.e., Shariah-compliant and conventional funds). The objective is to provide precise insights for investors and fund managers, enhancing their ability to navigate the complex mutual fund landscape. Our empirical investigation unearths macroeconomic factors affecting mutual funds. Factors such as Gross Domestic Product (GDP), inflation, and the disruptive influence of the COVID-19 pandemic have presented formidable challenges. Conversely, the study identifies resilience in mutual fund performance linked to population trends, the KSE100 index's enduring strength, worker remittances, fiscal policy effectiveness, and trade prosperity. Importantly, these patterns hold true for both Shariah-compliant and conventional mutual funds, underlining their consistency across a range of performance metrics. Our findings offer invaluable guidance for investors and contributes to the decision-making toolkit and empowering them with actionable insights.

Keywords: Macroeconomic Determinants; Mutual Funds; Sharp Ratio; GMM; Pakistan (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:rfh:bbejor:v:12:y:2023:i:3:p:878-887

DOI: 10.61506/01.00199

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