Karachi: JS Investments Limited has released its annual report for the fiscal year ended June 30, 2024, showcasing significant growth in its JS Islamic Income Fund. The fund's total net assets reached PKR 896.71 million, an increase from PKR 725.19 million in the previous year, demonstrating a robust growth trajectory amid challenging market conditions.

The company reported a net income of PKR 147.02 million for the year, compared to PKR 173.82 million in 2023. Despite a slight dip in net income, the fund's overall performance remained strong, with a total return of 20.31%, outperforming the benchmark index which stood at 10.62%.

According to information available from the Pakistan Stock Exchange (PSX), the fund's strategic asset allocation and adherence to Shariah-compliant investment vehicles were key to navigating the volatile market environment. The fund focused primarily on quality Sukuks and Shariah-compliant government securities, which contributed to its stable returns.

Significant portfolio shifts included an increase in cash holdings to 43.31% of total assets, up from 12.27% the previous year, providing the fund with greater liquidity and flexibility. The exposure to government Ijara Sukuks and corporate Sukuks adjusted to align with market conditions, reflecting a responsive and dynamic management approach.

JS Investments Limited maintained its commitment to Shariah compliance, with all transactions and investment strategies vetted by its Shariah Advisory Board to ensure alignment with Islamic finance principles.

The annual report also highlighted the fund's distribution strategy, declaring a final dividend payout of PKR 21.24 per unit, amounting to a distribution rate of 21.24%. This reflects the fund's objective to provide consistent and competitive returns to its investors.

In conclusion, JS Investments Limited's management has effectively steered the JS Islamic Income Fund through a challenging economic landscape, achieving commendable growth and stability. The strategic focus on liquidity management and compliance with Shariah principles has positioned the fund well for continued success in the coming years.