Karachi: The AKD Islamic Cash Fund's annual financial report for the fiscal year ending June 30, 2026, reveals substantial financial movements and strategic shifts in income sources. The report, dated October 16, 2026, highlights a notable increase in total income alongside a significant rise in expenses over the previous year.
The fund's total income for 2026 amounted to 52.10 million rupees, up from 46.52 million rupees in 2025, marking a very large or significant move of 11.97%. This increase was primarily driven by a surge in income from term deposit mudarabah and musharakah certificates, which rose sharply to 19.67 million rupees from 456,000 rupees in the previous year. Additionally, capital gains on the disposal of investments saw a decline to 76,000 rupees, down from 1.26 million rupees in 2025.
According to information available from the Pakistan Stock Exchange (PSX), the fund reported a decline in income from GOP Ijara sukuks, which decreased from 22.99 million rupees in 2025 to 12.73 million rupees in 2026. This contributed to a shift in the income structure, emphasizing the growing importance of mudarabah and musharakah as income streams.
On the expense front, the fund recorded a total expenditure of 7.31 million rupees, compared to 3.99 million rupees in 2025, reflecting a very large or significant move of 83.02%. Notably, the remuneration of AKD Investment Management Limited, the management company, saw a considerable increase from 141,000 rupees to 1.11 million rupees. The amortization of the premium on government securities also rose substantially to 4.18 million rupees from 1.54 million rupees the previous year.
Despite the increased expenses, the net income for the year after taxation remained strong at 44.79 million rupees, up from 42.53 million rupees in 2025, indicating a moderate move of 5.32%. However, after accounting for income already paid on units redeemed, the net income available for distribution stood at 25.49 million rupees, a decrease from 42.53 million rupees in 2025.
In summary, the AKD Islamic Cash Fund's annual report for 2026 underscores a period of financial adaptation, characterized by a shift in income streams and heightened expenses. The fund's strategic focus on term deposit mudarabah and musharakah certificates has emerged as a key component of its income portfolio, amidst fluctuating returns from other investment avenues.