Karachi: AKD Investment Management Limited has obtained a further extension from the Securities and Exchange Commission of Pakistan (SECP) to hold its board meeting, now set to review and approve its audited financial statements for the fiscal year ended June 30, 2024. The extension, which spans an additional 15 days beyond the initial deadline, aims to provide sufficient time for thorough audit completion and decision-making regarding several funds managed by the firm.

The request for an extension was necessitated by the detailed scope of the audit involving funds such as the Golden Arrow Stock Fund, AKD Aggressive Income Fund, and AKD Cash Fund. The extension ensures that the firm adheres to regulatory requirements while accommodating comprehensive financial analysis and strategic planning.

According to information available from the Pakistan Stock Exchange (PSX), this move reflects AKD Investment Management’s commitment to maintaining high standards of transparency and accountability in its operations. The management is determined to meet all regulatory requirements and continue to uphold its fiduciary responsibilities towards its investors.

The board of directors is now scheduled to meet within the new timeframe to deliberate on the audited financial statements, which are crucial for the company's future investment strategies and shareholder communications. This adjustment in schedule demonstrates the firm’s careful consideration of the detailed financial health of its funds, ensuring all stakeholders are well-informed of its financial standing and strategic direction.