Karachi: HBL Asset Management Limited has released the financial results for its range of conventional and Shariah-compliant funds for the fiscal year ended June 30, 2024. The announcement was made following the approval by the Board of Directors during their meeting on September 26, 2024, in Karachi.

According to information available from the Pakistan Stock Exchange (PSX), the results highlighted varied performance across the board with specific distributions for each fund detailed in accompanying annexures. Notably, the HBL Energy Fund and other select funds showed significant activities and results.

The HBL Energy Fund, for example, reported a net income after taxation with notable figures in capital gains and dividend income. The fund achieved capital gains of Rs. 88.72 million, a substantial recovery from a loss of Rs. 21.76 million the previous year. Additionally, the dividend income was Rs. 27.04 million, despite a slight decrease from Rs. 35.24 million in 2023.

Expenses for the HBL Energy Fund included remuneration for the management company, Sindh Sales Tax on remuneration, and other allocated expenses totaling significant outflows. Despite these costs, the fund's net income before taxation reflected a robust financial performance, turning around from the previous year's operations.

Other funds, such as the HBL Government Securities Fund, HBL Stock Fund (which reported no final distribution for the year), and various Islamic funds including the HBL Islamic Money Market Fund, also disclosed their results, indicating a diverse portfolio performance tailored to different investor needs.

Each fund's detailed financial activities, including income statements and balance sheets, are part of the disclosed annual financial reports, aiming to maintain transparency with investors and comply with regulatory requirements.