Karachi: The AWT Islamic Income Fund has released its financial statement for the fiscal year ending June 30, 2026, highlighting a moderate increase in assets and net income. According to the report dated September 29, 2026, the fund's total assets rose to 63.11 billion rupees from 57.72 billion rupees in the previous year, marking a significant move of 9.34%.
The fund's assets primarily consist of bank balances and investments, with the bank balances escalating to 25.87 billion rupees from 22.68 billion rupees, and investments increasing slightly to 34.38 billion rupees from 34.03 billion rupees. The profit receivable also saw a notable rise to 1.11 billion rupees from 917.29 million rupees. Advances, deposits, and other receivables grew substantially, coming in at 51.76 million rupees compared to the previous 11.81 million rupees. The receivable against the sale/conversion of units also experienced a very large increase, reaching 1.70 billion rupees from 83.88 million rupees.
On the liabilities side, the fund reported total liabilities of 859.11 million rupees, up from 490.67 million rupees last year. This increase is partly due to a rise in accrued expenses and other liabilities, which grew to 406.56 million rupees from 303.74 million rupees. The payable against the redemption/conversion of units also increased to 417.71 million rupees from 151.88 million rupees.
The net assets of the fund now stand at 62.25 billion rupees, up from 57.23 billion rupees the previous year. The unit holders' fund has shown parallel growth, matching the net assets figures. The number of units in issue has expanded to 588.20 million from 541.96 million, with the net asset value per unit slightly increasing to 105.8389 rupees from 105.6018 rupees.
According to information available from the Pakistan Stock Exchange (PSX), the income of the fund experienced a modest rise, totaling 6.33 billion rupees for the year, compared to 6.31 billion rupees the previous year. This income is mainly derived from returns on bank balances, which grew to 1.89 billion rupees from 1.52 billion rupees. The returns from Bai Muajjal also saw a substantial increase to 2.86 billion rupees from 2.30 billion rupees, while returns from Sukuk certificates declined to 1.72 billion rupees from 2.31 billion rupees.
Despite the increase in income, the fund reported net realized and unrealized losses on investments, with a realized loss of 122.73 million rupees and an unrealized loss of 46.58 million rupees. Other income rose to 7.11 million rupees from 1.37 million rupees.
The fund's expenses increased to 457.03 million rupees from 369.76 million rupees, influenced by higher remuneration costs for the management company and trustee, along with Sindh sales tax on these remunerations. The net income for the year before taxation was 5.87 billion rupees, slightly lower than the previous year's 5.94 billion rupees, with no taxation reported.
Overall, the total comprehensive income for the year remained steady at 5.87 billion rupees, mirroring the net income figures. The AWT Islamic Income Fund's financial performance reflects a careful balance of asset growth and income generation amidst varying returns on investments.