Karachi: MCB Investment Management Limited, the management company of Alhamra Islamic Active Allocation Fund, has announced the approval of the financial results for the half-year ending December 31, 2024. The Board of Directors finalized the results during their meeting held at the company's head office in Karachi on February 4, 2025.
The financial statements, including the Statement of Assets and Liabilities, Statement of Profit and Loss, Statement of Other Comprehensive Income, Statement of Movement in Unit Holders' Fund, and Statement of Cash Flows, were attached for reference. Notably, the earnings per unit (EPU) were not disclosed as it was deemed impracticable to calculate the weighted average number of units.
The Alhamra Smart Portfolio, for the period ending December 31, 2024, reported undistributed income of 122.02 million rupees and capital value of 54.30 million rupees, totaling 176.31 million rupees. In comparison, for the same period in 2023, the totals were 106.62 million rupees and 20.87 million rupees, respectively.
Net assets at the beginning of the period stood at 24.59 million rupees, with 246,794 units issued, contributing to a capital value of 30.08 million rupees. Redemptions of 154,073 units resulted in a reduction of 18.34 million rupees, while the total comprehensive income for the period was reported as negative 10.57 million rupees. No distribution was made during this period.
Accounting income available for distribution was reported with realized income at 3.37 million rupees and unrealized income at 2.04 million rupees, leading to an undistributed income carried forward of 5.40 million rupees.
The fund's net asset value per unit increased from 128.91 rupees at the beginning of the period to 150.63 rupees at the end of the period.
According to information available from the Pakistan Stock Exchange (PSX), the financial results reflect a strategic approach by the management to navigate through market challenges and optimize fund performance.
The cash flow statement revealed net cash flows from operating activities as negative 10.75 million rupees, influenced by a realized gain on the sale of investments and net unrealized income on re-measurement of investments. Financing activities generated positive cash flow of 12.78 million rupees despite the final dividend payment within the period, resulting in a net increase in cash and cash equivalents.
The financial results emphasize MCB Investment Management's commitment to transparency and strategic fund management, aligning with market dynamics to optimize returns for investors.