Overseas Pakistanis have invested nearly Rs. 3 billion in mutual funds using the facility of Roshan Digital Accounts (RDA).
According to the data released by the Mutual Funds Association of Pakistan, the asset management companies have attracted an investment of Rs. 2.883 billion by the end of September 2023 in the designated seven mutual funds offering this service to expat Pakistanis.
There are 6,904 overseas Pakistani account holders who maintained their savings and investments in the 7 mutual funds from various countries. Besides the RDA facility, the investment made by resident Pakistanis using the digital account facility also witnessed steady growth which attracted an investment of Rs. 3.754 billion by the end of September 2023.
The investment opportunity through a digital account is possible in 16 funds out of more than 300 total funds. There are 113,935 accounts being maintained by the assets management companies through digital accounts.
Recently, the government also introduced the RAAST payment system for the masses to invest in mutual funds of assets management companies which may bode positive for the industry. However, there is a need to promote the mutual funds sector across the country to attract more investors in this particular segment, considering the current profit rate being offered by the management of various assets management companies,
Source: Pro Pakistani