Karachi: Al Meezan Investment Management Ltd. has reported a significant financial downturn for its Meezan Islamic Fund in the quarter ending September 30, 2026, according to its latest unaudited condensed interim income statement. The report, released on October 30, 2026, indicates the fund experienced a net loss of 5.10 billion rupees before taxation, a stark contrast to the 13.57 billion rupees income recorded in the same period last year.

The fund's income for the quarter saw a considerable decline, with dividend income increasing to 492.72 million rupees from 388.30 million rupees, while profit on saving accounts with banks decreased significantly to 6.46 million rupees from 28.90 million rupees. Notably, there was a net realized loss on the sale of investments amounting to 192.81 million rupees, a reversal from the previous year’s gain of 770.38 million rupees.

A critical factor in the fund's performance was the net unrealized diminution on re-measurement of investments, which resulted in a decrease of 4.76 billion rupees, compared to an appreciation of 12.92 billion rupees last year. This led to a total loss of 4.45 billion rupees for the quarter, a significant shift from the previous year's income of 14.11 billion rupees.

The expenses for the fund also increased, totaling 652.27 million rupees, up from 532.19 million rupees in the previous year. Key expenses included remuneration of the management company, which rose to 496.35 million rupees, and Sindh Sales Tax on remuneration, which increased to 74.45 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), the data reflects a very large or significant move, highlighting the volatility and challenges facing the fund in the current market environment.

The report underscores the financial challenges and market conditions impacting the Meezan Islamic Fund, signaling a need for strategic adjustments to navigate the economic landscape effectively.