Karachi: The HBL Income Fund, managed by HBL Asset Management, detailed a year of substantial fiscal performance and strategic achievements in its latest annual report. As of June 30, 2024, the fund reported remarkable growth in net income and assets under management, underscoring its effective investment strategies and market positioning.

During the fiscal year 2023-24, the HBL Income Fund achieved a net income of Rs. 878.03 million, an impressive increase from the previous year. According to information available from the Pakistan Stock Exchange (PSX), the fund's total income rose to Rs. 997.47 million. The net asset value (NAV) per unit increased from Rs. 112.4509 to Rs. 113.3201, reflecting an annualized return of 22.35%. This performance outpaced the fund's benchmark, underscoring its robust management and market-aligned strategies.

The fund's assets saw a dramatic increase, rising from Rs. 2.11 billion at the start of the fiscal year to Rs. 4.97 billion by year-end. This growth was attributed to appreciating existing investments and significant new capital inflows, driven by investor confidence in the fund's performance and strategic direction.

Further enhancing its market position, the HBL Income Fund also focused on expanding its investor base and operational capabilities. New initiatives and operational strategies were highlighted, aimed at sustaining growth and addressing the evolving needs of investors in a dynamic economic environment.

As the HBL Income Fund moves into the next fiscal year, it continues to prioritize strategic growth and operational efficiency, setting a strong foundation for ongoing success and stability in the investment market.