Karachi: The AKD Islamic Daily Dividend Fund (AKDIDDF) reported its annual financial results for the fiscal year ending June 30, 2024. The fund, managed by AKD Investment Management Limited, declared no cash dividends, bonus issues, or rights issues for the period.

The fund posted a total income of PKR 75.06 million, driven by a net unrealized appreciation on re-measurement of investments totaling PKR 0.26 million and significant profit on bank deposits and short-term sukuk, contributing PKR 11.30 million and PKR 44.08 million respectively. According to information available from the Pakistan Stock Exchange (PSX), this represents a solid performance in a challenging market environment.

Expenses for the year were marked at PKR 2.18 million, encompassing management remuneration, sales tax, and expenses allocated to both the management company and the trustee. The auditor's remuneration and certification fees, among other operational costs, contributed to the total expenses.

The pre-tax net income reached PKR 72.89 million. After accounting for taxation, the net income available for distribution to the fund’s investors was PKR 72.89 million, consistent with the amount before tax.

The financial results have been filed and will be available through the Central Depository Company of Pakistan and will also be transmitted through PUCARS in due course. These results highlight the fund's adherence to Sharia-compliant investment avenues, focusing on income generation through halal investments.