Karachi: Al Habib Asset Management Limited has announced robust financial results for the quarter ending September 30, 2024, reflecting substantial gains across its diverse range of funds, according to information available from the Pakistan Stock Exchange (PSX).

The company disclosed that its Al Habib Islamic Cash Fund achieved a remarkable net income after taxation of PKR 931.57 million for the quarter, showing a significant improvement from PKR 877.84 million in the same period last year. This increase is largely attributed to higher profits on bank deposits and term deposits receipts, along with positive net gains on investments.

Similarly, the Al Habib Stock Fund recorded a net income after taxation of PKR 128.71 million, a substantial rise from PKR 13.51 million reported in the previous year. The fund's income was boosted by dividends and marked gains in investment values, despite some losses in capital.

Furthermore, the Al Habib Islamic Income Fund posted a net income of PKR 449.45 million, up from PKR 255.63 million, driven by profits on bank deposits, term deposits, and a strong return on margin deposits with NCCPL. The fund also saw net capital gains and unrealised gains on revaluation of investments.

On the expenditure side, all funds managed their costs effectively. Notable expenses included remuneration to the management company, brokerage fees, and charges related to compliance with the Securities and Exchange Commission of Pakistan.

These financial statements underscore Al Habib Asset Management’s capacity to capitalize on market opportunities and effectively manage expenses, thereby securing substantial returns for its investors.