Karachi: The Board of Directors of JS Global Capital Limited, acting as the Management Company for the JS Global Banking Sector Exchange Traded Fund (ETF), announced the annual financial results for the year ending December 31, 2024, during a meeting held on February 25, 2025. Despite an increase in net assets, the board declared that there will be no cash dividend, bonus shares, right shares, or any other corporate actions for the year.

According to the financial statements, the Fund's total assets rose significantly to 170.00 million Rupees in 2024 from 88.48 million Rupees in the previous year. This increase was primarily driven by the rise in investments, which more than doubled from 85.63 million Rupees in 2023 to 159.07 million Rupees in 2024. Bank balances also saw a notable increase from 1.83 million Rupees to 9.79 million Rupees.

On the liabilities side, there was a considerable increase from 0.89 million Rupees in 2023 to 2.68 million Rupees in 2024. The most significant liability was the payable to JS Global Capital Limited, which rose to 1.43 million Rupees from 0.47 million Rupees the previous year.

Net assets of the Fund increased to 167.33 million Rupees in 2024, up from 87.59 million Rupees in 2023. Consequently, the net asset value per unit also saw a rise, ending the year at 22.5513 Rupees compared to 14.3825 Rupees at the beginning of the year.

The Fund issued 6.60 million units during the year, generating total proceeds of 111.18 million Rupees, while 5.27 million units were redeemed, resulting in payments of 91.14 million Rupees. This contributed to the comprehensive income of 83.62 million Rupees for the year.

According to information available from the Pakistan Stock Exchange (PSX), the Fund's performance was marked by realized gains amounting to 15.43 million Rupees and unrealized gains of 71.87 million Rupees. The total undistributed profit carried forward was 87.30 million Rupees, which marked a significant improvement from the previous year's 26.69 million Rupees.

Despite the financial gains, the Fund decided against any distribution of dividends, citing no entitlements for the year. The Fund's annual report will be transmitted through PUCARS within the stipulated time frame. The Fund is categorized under the Designated Market Category for banking sector ETFs.