Karachi: MCB Investment Management Limited, the management company of Alhamra Islamic Active Allocation Fund, has released its financial results for the fiscal year ended June 30, 2024, showcasing a significant growth in total income and net income.

The company reported a total income of 37.64 million rupees for the year 2024, a substantial increase from 13.18 million rupees in 2023. This growth is primarily attributed to a realized gain on sale of investments which surged to 20.01 million rupees from 2.31 million rupees the previous year. Additionally, the dividend income witnessed a notable jump, contributing 9.43 million rupees to the total income.

On the expenses front, the total costs incurred by the fund were recorded at 36.23 million rupees for 2024, compared to 11.88 million rupees in 2023. Major expense items included remuneration of MCB Investments Management Limited and fees paid to the Securities and Exchange Commission of Pakistan.

The net income before taxation stood at 36.23 million rupees, maintaining the same level as the gross income due to an absence of reported taxation. Consequently, the net income for the year also mirrored this figure.

According to information available from the Pakistan Stock Exchange (PSX), the allocation of net income after taxation was 35.15 million rupees, with a minor deduction for income already paid on units redeemed, amounting to 1.08 million rupees. The accounting income available for distribution, which relates primarily to capital gains, was reported as 35.15 million rupees.

This financial disclosure reflects the fund’s robust performance and its management’s effectiveness in capitalizing on investment opportunities within the fiscal year. The reported earnings per unit (EPU) was not disclosed, as the management highlighted the impracticality of calculating the weighted average number of units.