Karachi: JS Investments Limited, the management company of JS Islamic Premium Fund, reported a strong financial performance for the fiscal year ending June 30, 2024. The fund's management convened on August 20, 2024, in Karachi, to approve these results, marking a significant year with interim distributions amounting to Rs. 12.06 per unit.

The JS Islamic Premium Fund demonstrated robust financial growth from November 03, 2023, to June 30, 2024. The total income achieved was Rs. 66,386,477, driven mainly by mark-up and returns on balances with banks and investments totaling Rs. 65,223,969 and a net realized gain on the sale of investments valued at Rs. 1,162,508.

Operating expenses for the period totaled Rs. 4,484,958. These included management fees to JS Investments Limited of Rs. 2,604,626, Sindh Sales Tax on management remuneration of Rs. 338,601, trustee fees to the Digital Custodian Company Limited amounting to Rs. 254,981, and various other operational expenses such as auditor's remuneration and SECP fees.

According to information available from the Pakistan Stock Exchange (PSX), the fund's net income before taxation stood at Rs. 61,901,519. After accounting for all expenses, the net income for the period after taxation was identical, indicating no additional tax burden.

The allocation of the fund's income for the period was outlined as follows: Rs. 59,108,767 was available for distribution, which includes Rs. 1,162,508 relating to capital gains and Rs. 57,946,259 excluding capital gains. This income distribution strategy reflects the fund's strong performance and strategic investment decisions over the fiscal year.

The JS Islamic Premium Fund's commitment to delivering shareholder value while adhering to Islamic investment principles continues to be reflected in its consistent financial performance and strategic operational management.