Karachi: ABL Stock Fund experienced a significant array of economic and financial developments during FY24, amidst strategic reforms and substantial stock market activities. The year started under the shadow of high inflation but saw a progressive reduction in the Consumer Price Index (CPI), which averaged 23.4% over the year, down from 29.1% the previous year, largely due to a high base effect from earlier high inflation rates and some deflationary episodes.

According to information available from the Pakistan Stock Exchange (PSX), the State Bank of Pakistan's (SBP) proactive measures were pivotal in managing inflation and driving economic growth. Early in the year, the Monetary Policy Committee of the SBP increased the policy rate by 150 basis points, maintaining it thereafter, which helped stabilize the real interest rates and support economic expansion.

In the financial markets, the Karachi Stock Exchange's KSE-100 index recorded unprecedented growth, closing the year up 89.2% at 78,445 points. This growth was bolstered by the strong performance of mutual funds and significant sectoral contributions from technology and oil and gas exploration, both of which saw considerable increases in market capitalization.

The mutual fund industry also saw significant expansion, with assets under management (AUM) at ABL Stock Fund growing by 65.5% year-on-year from PKR 164 billion to PKR 267 billion. This growth was a major factor in the overall financial market dynamics, attracting both domestic and international investors.

Governance at ABL Stock Fund remained strict, with the Board of Directors adhering to rigorous corporate governance standards. These standards were crucial in navigating the company through the economic challenges of the year.

Looking forward to FY25, ABL Stock Fund is set on a path of continued economic recovery and growth, supported by strategic policy adjustments and a stable regulatory environment.