Karachi: MCB Investment Management Limited, the management company of MCB DCF Income Fund, announced its financial results for the half year ended December 31, 2024. The results were approved by the Board of Directors in a meeting held at the company's Head Office in Karachi on February 4, 2025. The detailed financial statements, including the Statement of Assets and Liabilities, Statement of Profit and Loss, and other comprehensive statements, were made available to stakeholders.
The fund reported total assets of 30.06 billion rupees as of December 31, 2024, compared to 25.65 billion rupees as of June 30, 2024. Investments increased from 20.13 billion rupees to 27.36 billion rupees, indicating a significant growth in the fund's investment portfolio. However, profit receivable decreased from 467.33 million rupees to 338.18 million rupees over the same period.
Liabilities decreased by 20.57%, from 9.34 billion rupees to 7.41 billion rupees. This reduction in liabilities mainly stemmed from a decrease in payable against the purchase of investments, which fell from 8.42 billion rupees to 5.91 billion rupees. The net assets of MCB DCF Income Fund rose from 16.31 billion rupees to 22.65 billion rupees, reflecting improved financial health.
According to information available from the Pakistan Stock Exchange (PSX), the fund's net asset value per unit increased from 109.0853 rupees to 120.1822 rupees. The number of units issued also grew, reaching 188,470,367 units by the end of December 2024, compared to 149,530,987 units at the end of June 2024.
Despite the improved financial performance, earnings per unit (EPU) were not disclosed, as the management deemed the calculation of the weighted average number of units impracticable. The fund's income for the half-year period reached 2.01 billion rupees, a substantial increase from 1.15 billion rupees during the same period in the previous year. Operating expenses rose to 214.44 million rupees, up from 129.71 million rupees, resulting in a net income of 1.80 billion rupees for the period.
The fund's capital value and undistributed income also showed positive trends. The issuance of 81.10 million units contributed an additional 9.40 billion rupees, while the redemption of 42.16 million units resulted in a deduction of 4.85 billion rupees. The total comprehensive income for the half-year amounted to 2.11 billion rupees, boosting the net assets at the end of the period to 22.65 billion rupees.
Cash flow from financing activities showed a net generation of 4.54 billion rupees, as receipts from unit issuance outpaced the payments for unit redemption. This financial performance highlights the fund's ability to manage its resources efficiently and capitalize on market opportunities.
Overall, MCB DCF Income Fund's financial results for the half-year ended December 31, 2024, demonstrate significant growth in assets, improved net income, and increased net asset value per unit, positioning the fund favorably in the financial market.