Karachi: The Board of Directors of JS Global Capital Limited, acting as the Management Company for the JS Global Banking Sector Exchange Traded Fund, convened on August 18, 2025, to review and approve the fund's un-audited financial statements for the half-year ending June 30, 2025. The meeting, held at the company's headquarters in Karachi, resulted in the decision to forgo any cash dividends, bonus shares, right shares, or any other corporate actions for the period under review.
The condensed interim statement of assets and liabilities revealed a notable decline in total assets, which decreased from 170.01 million in December 2024 to 127.29 million by the end of June 2025. This decrease in assets is primarily attributed to a reduction in investments, which saw a big move downward from 159.07 million to 117.53 million during the same period.
Liabilities of the fund also experienced a shift, ascending from 2.68 million in December 2024 to 3.65 million by June 2025. Among the liabilities, the payable to JS Global Capital Limited as the Management Company saw a big move decrease, while accrued expenses and other liabilities experienced a very large or significant move increase.
According to information available from the Pakistan Stock Exchange (PSX), the net assets of the fund also witnessed a downward trend, falling from 167.33 million to 123.64 million. The net assets value per unit, however, recorded a moderate move increase, rising from 22.5513 to 25.5454.
The number of units in issue saw a very large or significant move decrease, dropping from 7,420,600 to 4,840,000. The financial results, as presented in the report, indicate that the fund's management has opted for a cautious approach, withholding any immediate distributions or corporate actions in light of the current financial landscape.
These developments are part of the broader market category of investment funds, which continue to navigate the complexities of the financial markets in 2025. The half-year report will be disseminated through the Pakistan Unified Corporate Action Reporting System (PUCARS) within the prescribed timeline.