Top Performing Shariah Compliant Money Market Mutual Funds

Introduction:

Shariah compliant money market funds have gained popularity among investors who seek ethical and halal investment options. These funds adhere to Islamic principles and invest in short-term, low-risk instruments, making them an attractive choice for conservative investors. In this article, we will explore the top-performing Shariah compliant money market mutual funds with impressive annualized returns. Whether you are a seasoned investor or new to halal investments, this guide will help you make informed decisions.

Top Performing Shariah Compliant Money Market Mutual Funds:

  1. AL Habib Islamic Cash Fund: This fund has consistently delivered strong performance, with an annualized return of 19.98%. It offers stability and liquidity, making it a preferred choice for risk-averse investors.
  2. Al Ameen Islamic Cash Plan I: With an annualized return of 19.89%, this fund provides competitive returns while maintaining compliance with Islamic principles. It is suitable for investors looking for stability and steady growth.
  3. HBL Islamic Money Market Fund: This fund has achieved an annualized return of 19.66%, making it one of the top performers in the market. It offers a diversified portfolio of Shariah compliant money market instruments.
  4. Lakson Islamic Money Market Fund: With an annualized return of 19.60%, this fund provides a secure and profitable investment avenue for conservative investors. It aims to preserve capital while generating consistent returns.
  5. Pak Qatar Asan Munafa Plan: This fund offers an annualized return of 19.60% and focuses on providing regular income to investors. It is designed to meet the needs of those seeking halal investment options with competitive returns.

These are just a few examples of the top-performing Shariah compliant money market mutual funds. It is essential to conduct thorough research and consult with a financial advisor before making any investment decisions.

Fund Name Rating Validity Date NAV YTD MTD 1 Day 15 Days 30 Days 90 Days 180 Days 270 Days 365 Days
AL Habib Islamic Cash Fund AA+(f) Jul 07, 2023 100.0000 19.98 19.98 19.75 19.75 19.27 18.85 17.55 17.00 16.74
Al Ameen Islamic Cash Plan I AA+(f) Jul 07, 2023 100.0000 19.89 19.89 20.11 16.07 17.82 18.76 17.73 17.14 16.84
HBL Islamic Money Market Fund AA+(f) Jul 07, 2023 101.1744 19.66 19.66 20.09 19.62 19.59 19.47 18.21 17.61 17.33
Lakson Islamic Money Market Fund AA(f) Jul 07, 2023 101.2039 19.60 19.60 19.63 19.64 19.57 19.18 17.83 17.20 N/A
Pak Qatar Asan Munafa Plan AA(f) Jul 06, 2023 100.4719 19.60 19.60 18.50 18.78 18.63 19.00 17.19 16.42 N/A
Alfalah Islamic Rozana Amdani Fund AA(f) Jul 06, 2023 100.0000 19.56 19.56 19.75 19.71 19.75 19.61 18.20 17.47 17.18
Alfalah Islamic Money Market Fund Jul 06, 2023 100.3181 19.35 19.35 19.51 19.52 19.60 N/A N/A N/A N/A
Pak Qatar Daily Dividend Plan AA(f) Jul 06, 2023 100.0000 19.33 19.33 20.84 19.03 19.21 19.29 18.21 17.67 N/A
NIT Islamic Money Market Fund AAA(f) Jul 07, 2023 101.0093 19.27 19.27 19.27 19.55 19.29 19.13 17.77 17.27 17.04
Alhamra Islamic Money Market Fund AA+(f) Jul 07, 2023 99.5100 19.25 19.25 19.15 19.41 19.37 19.14 17.91 17.28 17.07
NBP Islamic Daily Dividend Fund AA+(f) Jul 07, 2023 10.0000 19.13 19.13 19.34 19.25 19.14 19.04 17.84 17.23 16.94
Atlas Islamic Money Market Fund AA(f) Jul 06, 2023 503.7233 19.09 19.09 19.31 19.41 19.33 19.28 18.08 17.48 16.85
Faysal Islamic Cash Fund AA(f) Jul 07, 2023 100.0000 19.09 19.09 19.49 20.03 20.12 19.75 18.28 17.74 17.53
NBP Islamic Money Market Fund AA(f) Jul 06, 2023 10.1640 19.09 19.09 19.40 19.77 19.44 18.94 17.53 16.88 16.43
ABL Islamic Cash Fund AA(f) Jul 07, 2023 10.0000 19.06 19.06 18.98 19.02 19.12 19.15 17.86 17.21 17.01
Pak Qatar Cash Plan AA(f) Jul 06, 2023 100.4591 18.99 18.99 19.23 18.94 19.09 19.28 17.99 17.55 N/A
Faysal Halal Amdani Fund AA(f) Jul 07, 2023 101.7372 18.94 18.94 19.49 19.13 19.67 19.25 17.87 17.35 17.09
JS Islamic Daily Dividend Fund AA(f) Jul 07, 2023 100.0000 18.91 18.91 19.02 19.06 19.50 19.40 18.01 17.60 17.03
Meezan Rozana Amdani Fund AA+(f) Jul 06, 2023 50.0000 18.86 18.86 18.98 19.10 19.18 19.10 17.86 17.20 16.90
Meezan Cash Fund AA(f) Jul 06, 2023 51.1735 18.72 18.72 19.13 18.79 19.16 19.00 17.47 16.64 16.22
Al Ameen Islamic Cash Fund AA+(f) Jul 07, 2023 101.3185 18.58 18.58 19.00 23.15 20.93 19.59 17.89 16.95 16.43
AKD Islamic Daily Dividend Fund AA(f) Jul 06, 2023 50.0000 18.32 18.32 17.96 18.40 18.32 18.45 N/A N/A N/A
Alhamra Cash Management Optimizer Jul 06, 2023 100.2508 18.31 18.31 18.14 18.83 18.93 N/A N/A N/A N/A
Pak Oman Daily Dividend Fund AA(f) Jul 07, 2023 10.0000 15.82 15.82 15.70 19.85 18.30 16.55 15.88 15.64 16.11

Benefits of Shariah Compliant Money Market Funds:

  1. Ethical Investing: Shariah compliant funds ensure that investments align with Islamic principles, avoiding prohibited sectors such as alcohol, gambling, and interest-based transactions.
  2. Stable Returns: Money market funds aim to provide stable and predictable returns, making them suitable for investors looking for low-risk investment options.
  3. Liquidity: These funds offer high liquidity, allowing investors to access their funds quickly and easily.
  4. Diversification: Shariah compliant money market funds invest in a range of short-term instruments, diversifying the investment portfolio and minimizing risk.

Conclusion:

Shariah compliant money market mutual funds offer a compelling investment option for individuals looking for ethical and halal investment opportunities. The top-performing funds mentioned in this article have demonstrated consistent returns and adherence to Islamic principles. However, it is crucial to conduct thorough research, evaluate your investment goals, and seek professional advice before making any investment decisions. Invest wisely and enjoy the benefits of both financial growth and ethical investing.

Note: The information provided in this article is based on the available data and is subject to change. It is always recommended to review the latest fund prospectus and consult with a financial advisor before making any investment decisions.

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