Karachi: MCB Investment Management Limited, the management company of MCB Pakistan Asset Allocation Fund, has announced the financial results for the half-year ended December 31, 2024. The results, disclosed during the Board of Directors meeting held on February 4, 2025, highlight a significant improvement in the fund's financial health, with total assets reaching 808.78 million rupees compared to 718.57 million rupees as of June 2024.
The detailed financial statements provided by the company include 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. However, Earnings per Unit (EPU) has not been disclosed due to the impracticability of calculating a weighted average number of units.
The company reported total income of 250.31 million rupees for the half-year, slightly lower than the 260.80 million rupees recorded in the same period last year. Despite a slight decline in total income, the net income before taxation stands at 233.37 million rupees, compared to 244.89 million rupees in the previous year. This reflects the fund's ability to maintain strong profitability amidst market challenges.
According to information available from the Pakistan Stock Exchange (PSX), the fund experienced a net realised gain on the sale of investments amounting to 124.24 million rupees, up from 76.86 million rupees in the same period last year. Additionally, the fund benefited from a net unrealised appreciation in the fair value of investments, reported at 82.57 million rupees, although this was lower than last year's figure of 147.38 million rupees.
The fund's net assets at the end of the period increased to 765.78 million rupees from 671.93 million rupees as of June 2024. The net asset value per unit also showed a substantial rise, reaching 172.21 rupees from 119.77 rupees at the beginning of the period. This improvement is attributed to a strategic allocation of income, with 170.13 million rupees relating to capital gains and 24.52 million rupees excluding capital gains, ensuring a robust performance for the fund.
The total liabilities for the fund decreased to 43.00 million rupees from 46.64 million rupees at the beginning of the period, reflecting effective management of the fund's financial obligations. The number of units in issue stood at 4,446,799, a decrease from 5,610,114 units, indicating a net redemption of units during the period.
Overall, the MCB Pakistan Asset Allocation Fund has demonstrated resilience and effective asset management, contributing to a strong financial performance for the half-year ended December 31, 2024. The fund continues to navigate market fluctuations successfully, maintaining its commitment to delivering value to its stakeholders within the designated market category.