Karachi: MCB Investment Management Limited, the management company behind the Pakistan Capital Market Fund, has announced its financial results for the half year ending December 31, 2024. The results were approved by the company's Board of Directors during a meeting held at the Head Office in Karachi on Tuesday, February 4, 2025, at 3:00 p.m.

The comprehensive financial statements released include the Statement of Assets and Liabilities, Statement of Profit and Loss, Statement of Other Comprehensive Income, Statement of Movement in Unit Holders' Fund, and the Statement of Cash Flows. However, earnings per unit (EPU) were not disclosed due to the management's opinion that the calculation of the weighted average number of units is impracticable.

According to the disclosed financials, the total assets of the Pakistan Capital Market Fund as of December 31, 2024, amounted to 705.31 million, reflecting a significant increase from 535.67 million in June 2024. Correspondingly, the net assets rose to 691.56 million from 520.37 million during the same period, indicating a robust performance.

The net asset value (NAV) per unit witnessed a notable increase, reaching 22.43 from 17.11 at the beginning of the period. The number of units in issue also saw a slight increase from 30.406 million units in June 2024 to 30.829 million units by the end of December 2024.

The financial results also highlighted a substantial increase in net income for the period after taxation, which climbed to 164.67 million from 143.53 million in the previous year. Total comprehensive income for the period matched the net income figures at 164.67 million. The fund's capital gains and undistributed income played a significant role in this financial upturn.

According to information available from the Pakistan Stock Exchange (PSX), the company's income comprising of capital gains on the sale of investments was recorded at 69.65 million for the half year ended December 31, 2024. Dividend income and profit from bank deposits contributed 25.74 million and 14.29 million, respectively, to the total income, which amounted to 179.30 million.

The statement of cash flows revealed that net cash flows generated from operating activities stood at 64.88 million, while net cash flow from financing activities was 6.53 million. The fund's cash and cash equivalents increased significantly, from 157.44 million at the beginning of the period to 228.85 million by the end of December 2024.

Overall, MCB Investment Management Limited's financial results portray a stable and positive performance for the Pakistan Capital Market Fund, underscoring the company's resilience and strong market position in the designated market category.