Karachi: The Alhamra Islamic Asset Allocation Fund, managed by MCB Investment Management Limited, reported a significant decline in its financial performance for the quarter ended September 30, 2026, as detailed in its recent financial report released on October 20, 2026.
The fund's total income plummeted to a negative figure of 92.07 million rupees, compared to a positive 465.06 million rupees in the same period last year. This represents a very large or significant move in the fund's financial results. The net loss on the sale of investments amounted to 22.71 million rupees, contrasting starkly with the net gain of 21.96 million rupees recorded in the previous year. Dividend income also experienced a notable drop, falling to 5.79 million rupees from 16.73 million rupees.
Profit on bank deposits showed an increase, reaching 13.70 million rupees compared to 7.97 million rupees last year. However, the net unrealized loss on the revaluation of investments at fair value through profit or loss was a significant factor affecting the fund's performance, standing at 88.88 million rupees, compared to a gain of 418.35 million rupees the previous year.
Total expenses for the quarter decreased slightly to 19.70 million rupees from 22.25 million rupees. Notable components of the expenses included the remuneration of the management company at 14.13 million rupees and the Sindh sales tax on the remuneration of the management company at 2.12 million rupees. Brokerage, settlement, and bank charges increased to 1.49 million rupees from 948,000 rupees.
According to information available from the Pakistan Stock Exchange (PSX), the fee and subscription annual listing fee was recorded at 125,000 rupees, a new expense compared to the previous year.
The net loss for the period before taxation was reported at 111.77 million rupees, a reversal from the net income of 442.80 million rupees achieved in the corresponding period of the previous year. There was no taxation for the quarter, resulting in the same net loss figure after taxation.
The fund did not have any net income available for distribution for the current quarter, compared to the previous year's allocation of 420.40 million rupees, which included 417.77 million rupees relating to capital gains.