Karachi: The financial results for the year ended June 30, 2024, of Pakistan Cash Management Fund, a subsidiary of MCB Investment Management Limited, were officially approved during a board meeting on September 25, 2024. The results reveal varied performance in different sectors of the fund.

The company reported a total income of 4.07 billion rupees for the year, marking a significant rise from the previous year's 2.78 billion rupees. This income includes profits from bank deposits, receipts on term deposits, income from government securities, and income from long-term finance securities.

According to information available from the Pakistan Stock Exchange (PSX), the net income before taxation for the fiscal year stood at 3.81 billion rupees, which is slightly above the 2.60 billion rupees recorded in the previous year. After accounting for taxation, the net income was 3.81 billion rupees, remaining consistent due to the unchanged tax liabilities.

Expenses for the year, totaling 283.62 million rupees, increased compared to last year's 113.12 million rupees. Major expense items include the remuneration of MCB Investment Management Limited, fees to the Management Company, digital custodian company charges, and various regulatory and professional charges.

The financial documents also highlight that the allocation of net income will be exclusive of capital gains distributions, as the calculation of weighted average number of units is deemed impractical by the management.

These results reflect a cautiously optimistic outlook for the Pakistan Cash Management Fund amid varying market conditions and demonstrate the fund's ability to manage expenses while growing income.