Karachi: The Board of Directors of MCB Investment Management Limited, the management company of Alhamra Islamic Stock Fund, has announced the financial results for the half year ending December 31, 2024. In a meeting held at the company's Head Office in Karachi on February 4, 2025, the board approved the results showcasing significant growth and financial health for the fund.

The total assets of Alhamra Islamic Stock Fund increased to 6.26 billion Rupees from 4.13 billion Rupees as of June 30, 2024, marking a substantial growth in the fund's asset base. Total liabilities for the fund stood at 119.17 million Rupees, up from 52.65 million Rupees, resulting in a net asset value of 6.14 billion Rupees, compared to 4.08 billion Rupees recorded at the end of the previous period.

The number of units in issue rose to 279,833,399, a significant increase from 269,683,354 units, while the net asset value per unit increased to 21.93 Rupees from 15.13 Rupees at the beginning of the period. The financial results reflect the fund's strong market performance and effective management strategies.

According to the comprehensive income statement, the fund reported a total comprehensive income of 2.11 billion Rupees for the period. This includes realized and unrealized gains, contributing to a strong accounting income available for distribution. Despite facing challenges in the market, Alhamra Islamic Stock Fund demonstrated resilience, achieving a marked improvement from a capital value of 3.56 billion Rupees at the start of the period to 6.14 billion Rupees at the end.

According to information available from the Pakistan Stock Exchange (PSX), the fund's operating activities generated a net cash flow of 286.45 million Rupees. This includes adjustments for dividend income and unrealized appreciation on re-measurement of investments classified as financial assets at fair value through profit or loss.

The fund handled proceeds of 7.48 billion Rupees from the issuance of units and payments of 7.53 billion Rupees for redemption, resulting in a net cash outflow in financing activities of 49.19 million Rupees. Despite this, cash and cash equivalents increased significantly from 204.97 million Rupees to 442.24 million Rupees, demonstrating effective liquidity management.

The financial results are accompanied by various statements, including the Statement of Assets and Liabilities, Statement of Profit and Loss, and Statement of Cash Flows, among others. These results underline the fund's commitment to transparency and robust financial practices in the designated market category.

Overall, the financial performance of Alhamra Islamic Stock Fund reflects its strategic growth initiatives and resilience in navigating market challenges. The fund's management remains committed to maximizing returns for its unit holders while maintaining a stable financial footing.