Karachi: JS Investments Limited has announced robust financial results for its JS Money Market Fund for the fiscal year ending June 30, 2024. The fund achieved a significant increase in net assets, with an annual return rate exceeding its benchmark, amidst a challenging economic environment.

According to information available from the Pakistan Stock Exchange (PSX), the net assets of the fund grew to PKR 1,300.36 million from PKR 2,039.98 million the previous year, demonstrating effective fund management and asset allocation strategies. The fund delivered an impressive annual return of 22.38%, outperforming its benchmark which stood at 20.88%.

The fund's strategic focus on short-term money market instruments, such as treasury bills and commercial papers, has paid off by not only preserving liquidity but also managing risk in a volatile market. The asset allocation as of June 30, 2024, showed a substantial holding in treasury bills at 66.96%, compared to 32.73% the previous year, reflecting a conservative approach amid economic uncertainties.

JS Investments Limited also reported a strong dividend payout for the year, with a final distribution of Rs. 5.68 per unit. This distribution contributed to a total payout ratio of 17.25% for the year. The fund’s cost-effective management was evidenced by a low expense ratio of 1.7%, including government levies and marketing expenses.

The fund's commitment to maintaining high liquidity was further highlighted by a weighted average maturity (WAM) of 79 days, ensuring responsiveness to market conditions and investor needs. The effective management of the fund by JS Investments Limited underscores its robust governance structures and strategic market insights that have led to sustained growth and investor confidence in challenging market conditions.