Karachi: Al Meezan Investment Management Limited (Al Meezan) has formally announced its financial results for the half-year ending December 31, 2024. The announcement, made on February 7, 2025, during a Board meeting, detailed the financial performance of several funds under its management. The results reflect a strong performance across multiple funds, with reports scheduled for transmission to the Pakistan Stock Exchange (PSX) and subsequent online publication.

The Board of Directors meeting, held at 9:30 a.m. on the specified date, saw the approval of the financial results for 20 funds managed by Al Meezan. These funds include notable names such as the Meezan Islamic Fund, Al Meezan Mutual Fund, KSE - Meezan Index Fund, and Meezan Energy Fund, among others. The financial results for each fund were annexed to the announcement, showcasing the detailed performance metrics for the period.

Among the highlights, the Meezan Sovereign Fund reported no distribution for the half-year, while the Meezan Dynamic Asset Allocation Fund announced an interim payout of Rs. 0.0394 per unit, equating to 0.08% of the par value of Rs. 50 each, on September 4, 2024. Meanwhile, both the Meezan Rozana Amdani Fund and the Meezan Daily Income Fund maintained daily distributions in alignment with their respective offering documents.

According to information available from the Pakistan Stock Exchange (PSX), Al Meezan's income from operating activities for the six-month period reached Rs. 51.62 million, up from Rs. 29.85 million in the same period the previous year. The net income for the period before taxation stood at Rs. 62.34 million, a significant increase compared to the Rs. 26.71 million recorded in 2023. After taxation, the net income for the period was reported at Rs. 62.34 million.

The issuance and redemption of units also featured in the financial outcomes, with 5.17 million units issued during the period, generating Rs. 14.95 million in capital, while the redemption of 3.60 million units resulted in payments totaling Rs. 53.21 million. The net assets at the end of the period were valued at Rs. 145.32 million, with undistributed income contributing an additional Rs. 75.15 million to the total.

These financial results underscore Al Meezan's robust performance in the designated market category, reflecting its commitment to delivering consistent value to its investors and stakeholders.