Karachi: MCB Investment Management Limited, the management company of the Alhamra Islamic Money Market Fund, disclosed the annual financial results for the fund, revealing a sharp decline in net income for the fiscal year ending June 30, 2026. The announcement was made at the company's headquarters in Karachi during a board meeting on Tuesday, August 4, 2026.
According to the released income statement, Alhamra Islamic Money Market Fund's total income for the year stood at 303.10 million rupees, a very large or significant move downward from the 944.56 million rupees recorded in the prior year. The return on investments amounted to 122.63 million rupees, marking a substantial decrease compared to the previous year's 668.87 million rupees. Similarly, the capital gain on the sale of investments classified as 'at fair value through profit or loss' recorded a net loss of 539,000 rupees, contrasting sharply with the gain of 3.28 million rupees reported in 2025.
The mark-up on bank deposits declined to 180.27 million rupees from 269.69 million rupees in the previous year. Moreover, unrealized appreciation on remeasurement of investments classified as 'financial assets at fair value through profit or loss' decreased to 733,000 rupees from 2.72 million rupees.
The expenses for the year totaled 35.87 million rupees, reflecting a significant reduction from the previous year's expenses of 77.97 million rupees. The remuneration of the management company was reported at 25.06 million rupees compared to 55.83 million rupees previously, with the Sindh sales tax on this remuneration dropping to 3.76 million rupees from 8.37 million rupees. Remuneration of the trustee and the associated Sindh sales tax fell to 1.88 million rupees and 281,000 rupees respectively, down from 4.15 million rupees and 623,000 rupees in the prior year.
Net income for the year before taxation was reported at 267.23 million rupees, compared to 866.60 million rupees last year. There was no taxation for the year, resulting in a net income for the year after taxation of 267.23 million rupees, a very large or significant move downward from the previous year’s net income of 866.60 million rupees.
According to information available from the Pakistan Stock Exchange (PSX), the fund's accounting income available for distribution, excluding capital gains, stood at 267.04 million rupees, down from 858.87 million rupees the previous year. Income relating to capital gains was reported at 194,000 rupees, a significant drop from the 5.81 million rupees reported in 2025.
These financial results indicate a challenging year for the Alhamra Islamic Money Market Fund, as evidenced by the considerable reductions in both income and expenses compared to the previous fiscal year.