Karachi: The Board of Directors of NBP Fund Management Limited has released the unaudited condensed interim financial statements for the NBP Government Securities Savings Fund (NGSSF) for the quarter ending September 30, 2026. The report, dated November 3, 2026, provides a detailed overview of the fund's performance over the past three months.

During the quarter, the size of the NBP Government Securities Savings Fund experienced a substantial decrease of 57%, declining from Rs. 3,651 million to Rs. 1,587 million. Despite this significant contraction, the unit price of the fund rose from Rs. 10.5723 on June 30, 2026, to Rs. 10.7046 on September 30, 2026, reflecting a return of 4.96% per annum. This performance is notably below the benchmark return of 11.39% per annum.

The fund has been assigned a stability rating of 'AA- (f)' by the Pakistan Credit Rating Agency (PACRA). It maintains an investment strategy that includes allocating a minimum of 70% of its assets in government securities, and at least 10% in less than 90-day Treasury Bills or savings accounts with banks, enhancing its liquidity profile.

According to information available from the Pakistan Stock Exchange (PSX), the economic environment during the first quarter of the fiscal year 2027 was characterized by upward-trending government securities yields. This trend was notably pronounced towards the end of the quarter, driven by persistent inflationary pressures and heightened external uncertainties. The State Bank of Pakistan conducted six Treasury Bill auctions between July and September 2026, with cut-off yields ranging from 11.25% to 12.35% across various tenors.

The fund's income for the quarter totaled Rs. 53.40 million, from which Rs. 11.23 million were deducted as expenses, resulting in a net income of Rs. 42.17 million.