Karachi: The JS Microfinance Sector Fund, managed by JS Investments Limited, has delivered a remarkable financial performance for the fiscal year ending June 30, 2024, significantly outpacing its benchmark returns. The Fund, which focuses on investments within the microfinance sector, reported a net asset value (NAV) per unit of PKR 101.61, reflecting a solid growth from PKR 101.12 in the previous year.

During the fiscal year 2024, the JS Microfinance Sector Fund achieved a total return of 24.64%, surpassing the six-month KIBOR rate benchmark which stood at 21.88%. This performance was primarily driven by strategic allocations predominantly in cash and placements with top-rated microfinance banks, maintaining a low-duration profile to optimize returns.

According to information available from the Pakistan Stock Exchange (PSX), the Fund's disciplined investment approach and effective asset allocation have enabled it to not only achieve but exceed its financial goals, particularly in a challenging economic environment. The fund's assets increased to PKR 10.29 billion, up from PKR 7.57 billion in the previous year, with net income after taxation rising to PKR 1.99 billion from PKR 1.29 billion.

This robust performance underscores the Fund’s commitment to delivering competitive and attractive returns to its investors, which also saw the final distribution of Rs. 3.31 per unit for FY24, culminating in a cumulative distribution of Rs. 22.10 per unit for the fiscal year.

The Trustee, Digital Custodian Company Limited, confirmed the Fund's compliance with all regulatory requirements and trust deed provisions, ensuring the Fund's operations were managed effectively without any significant shortcomings.