Evaluating Performance of Mutual Funds
Author: Wasim Khan

This paper examined the performance of total 48 mutual funds, in which 30 were conventional and 18 were Islamic funds. The study applied three worldwide performance measures which are Sharpe, Treynor and Jensen model for the analysis period 2009-16. The study implied that in Islamic funds, JS Islamic fund and Meezan Islamic fund performed relatively better, however Pak Oman advantage asset allocation remained poor performer over the analysis period. For the conventional funds AKD opportunity fund remained relatively better performer. It is also inferred that Pakistan income enhancement fund and First Dawood mutual fund performed poor over the entire analysis period. Overall results suggest that Islamic mutual fund was founded to be less risky as compared to conventional funds, and average returns of the Islamic funds were higher than its counterpart. However on the basis of Treynor model Conventional funds were performing better. It can also be inferred that both funds manager on average were not able to earn abnormal returns. Supervisor:- Dr. Raja. H. M. Mohsin

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Keywords : Conventional Mutual Funds, Diversification, Islamic Mutual Funds, Jensen Alpha, Manager’s Ability, Mutual Funds, Performance Of Mutual Funds, Sharpe, Standard Deviation, Treynor
Supervisor: Hassan Muhammad Mohsin

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