Lahore: The Board of Directors of ABL Asset Management Company Limited (ABL AMCL), the managing entity of ABL Funds, convened on Tuesday, February 20, 2025, to approve the financial results for the half-year period ending December 31, 2024. The meeting took place at 11:00 a.m. in the ABL Board Room located at Allied Bank Head Office, Lahore. The announcement pertains to the performance of multiple funds under ABL's management, including the ABL Income Fund, ABL Stock Fund, and others.

The financial statement reveals that as of December 31, 2024, the total assets of ABL Funds amounted to 3.88 billion rupees, an increase from the 2.68 billion rupees recorded on June 30, 2024. The net assets stood at 3.84 billion rupees, compared to 2.60 billion rupees in the previous period. The number of units issued also saw an increase, rising to 342.93 million units from 255.73 million units, with the net asset value per unit climbing to 11.1901 rupees from 10.1845 rupees.

According to information available from the Pakistan Stock Exchange (PSX), the income for the half-year period was reported at 751.70 million rupees, up from 242.34 million rupees in the comparable period of the previous year. The income was primarily driven by government securities, which contributed 512.69 million rupees, and profit from savings accounts with banks, which added 82.96 million rupees. The net gain on the sale of investments was 130.92 million rupees.

Total expenses for the half-year period were recorded at 66.12 million rupees, an increase from the previous year's figure of 19.91 million rupees. Remuneration to the Management Company was the largest expense, totaling 47.50 million rupees, followed by the Punjab Sales Tax on this remuneration, which was 7.60 million rupees.

The net income before taxation for the period was 685.58 million rupees, a significant rise from the 222.43 million rupees reported for the same period in the previous year. After accounting for income already paid on redeemed units, the net income available for distribution was 470.23 million rupees.

The financial results provide insights into the performance and financial health of ABL Funds, reflecting the company's strategic management and investment decisions for the reported period.