Karachi: The Alhamra Islamic Active Allocation Fund, managed by MCB Investment Management Limited, reported a decrease in its net assets for the quarter ending September 30, 2026, according to its unaudited quarterly report. The fund's net assets stood at Rs. 242 million at the end of the quarter, down from Rs. 245 million on June 30, 2026, reflecting a decline of 1.2%.
The fund's performance during the period showed a return of -0.95%, contrasting with a benchmark return of 0.85%. As of September 30, 2026, the fund's investments were allocated 72.5% in Alhamra Islamic Income Fund, 24.3% in Alhamra Islamic Stock Fund, and 3.2% in cash. The Net Asset Value (NAV) per unit decreased from Rs. 174.2927 on June 30, 2026, to Rs. 172.6330 on September 30, 2026, a reduction of Rs. 1.6597 per unit.
According to information available from the Pakistan Stock Exchange (PSX), the broader economic backdrop featured several noteworthy developments. The country's current account deficit for the initial two months of fiscal year 2027 amounted to USD 543 million, down from USD 853 million in the same period last year. The trade deficit saw an 18.8% year-on-year increase, with exports rising by 4.0% and imports by 11.4%. Remittances inflows grew by 14.7% to USD 7.3 billion, while the State Bank of Pakistan's foreign exchange reserves improved to USD 21.4 billion from USD 18.4 billion at the end of the previous fiscal year. The local currency appreciated by 0.4% to 277.1 against the US dollar.
The report also highlighted a rise in headline inflation, with the Consumer Price Index averaging 10.2% during the first quarter of fiscal year 2027, up from 4.3% in the previous year. This increase was attributed to higher global oil prices affecting domestic fuel prices and causing broader inflationary effects.
In the equity market, the KSE-100 Index closed the fiscal year 2026 with a 43.5% gain, reaching 180,302 points. Despite experiencing volatility in the latter half of the year due to geopolitical tensions and fluctuating oil prices, the market stabilized and ended the year near record highs. The Banking, Fertilizer, and Exploration & Production sectors were key contributors to the index's performance.
The fund's report, dated October 30, 2026, outlines the economic and market conditions affecting its performance and offers insight into the broader financial landscape within which the fund operates.