Karachi: Lakson Investments Limited, the management company of the Lakson Tactical Fund (LTF), announced a robust annual performance for the fiscal year ended June 30, 2024, with a return substantially outpacing its benchmark.
The LTF achieved a notable annual return of 38.18%, significantly higher than the benchmark return of 50.07%. According to information available from the Pakistan Stock Exchange (PSX), the fund's investment strategy focuses on long-term capital appreciation through a diverse portfolio of debt, equity, and commodities future contracts. The fund’s size as of June 30, 2024, is PKR 601.82 million.
Management confirmed the fund distributed PKR 34.3554 per unit in interim payouts, totaling PKR 20.3273 million for the year, reflecting a payout ratio based on the fund’s earnings. The company also outlined the economic and financial context for the year, noting particular challenges such as economic instability and inflation pressures within Pakistan.
In addition, the management faced external uncertainties including declining foreign exchange reserves and complex international relations, which have influenced investment strategies and market performance.
The fund's strategic adjustments throughout the year included significant exposure to domestic equities and debt securities, managed through rigorous analysis of macroeconomic factors and market conditions. The performance was further supported by a tight monetary policy maintained by the State Bank of Pakistan, which helped stabilize the financial environment.
Furthermore, the fund looks forward to a positive future outlook, bolstered by expected improvements in investor sentiment and economic conditions as a result of ongoing negotiations with international entities and expected fiscal adjustments.
The LTF continues to operate under the governance of its board, with PACRA maintaining the asset manager rating of "AM2+," and the VIs Credit Rating Company assigning a performance rating of "2-Star" for both the one-year and three-year periods.