Karachi: The Board of Directors of ABL Asset Management Company Limited, the management company of ABL Stock Fund (ABL-SF), has presented the audited financial statements for the year ending June 30, 2025. The report highlights a year of significant economic recovery and robust fund performance.
Pakistan’s fiscal year 2025 saw a pivotal change in its macroeconomic trajectory, marked by policy stability and the successful completion of an IMF Standby Arrangement. The country’s real GDP grew by 2.68%, a slight increase from the previous year’s 2.51%, indicating a modest but broad-based economic recovery. The industrial sector rebounded strongly, recording a 4.77% growth, while the services sector expanded by 2.91%. Inflationary pressures eased significantly, with the Consumer Price Index (CPI) averaging 4.61%, down from 23.9% in the previous year. The policy rate was reduced to 11.0% by May 2025, reflecting growing confidence in macroeconomic stabilization.
The external account performance was notably strong, with the current account posting a cumulative surplus of USD 2.10 billion in FY25, a turnaround from a USD 2.07 billion deficit last year. Foreign exchange reserves rose from USD 13.99 billion to USD 19.27 billion. According to information available from the Pakistan Stock Exchange (PSX), the KSE-100 index posted a strong year-to-date return of 60.15%, closing at 125,637 points on June 30, 2025. The rally was broad-based, with strong contributions from sectors such as Commercial Banks, Cement, Fertilizer, and Oil & Gas Exploration.
In the mutual fund industry, assets under management (AUM) increased by 44.02%, rising from PKR 2.68 trillion to PKR 3.86 trillion. Significant inflows were observed in money market funds, which grew by 43.67%, while equity market funds also experienced substantial growth of 98.98%.
ABL Stock Fund delivered a return of 61.06% against the benchmark return of 60.15%, reflecting an outperformance of 0.91%. The fund’s assets under management increased by 107%, standing at PKR 7.51 billion as of June 30, 2025, compared to PKR 3.62 billion a year earlier.
The Board of Directors emphasized the company’s commitment to the highest standards of corporate governance and ethical business practices. The financial statements comply with relevant international accounting standards and local regulations, ensuring transparency and accountability.
The report concluded with a positive outlook for FY26, contingent on sustained reform implementation and continued global financial support. Key sectors such as Oil & Gas Exploration and Automobile Assemblers are expected to benefit from ongoing policy reforms and market dynamics. However, challenges such as potential new taxation measures and currency volatility remain.