Karachi: In a remarkable fiscal year 2024, Meezan Financial Planning Fund of Funds (MFPF) has demonstrated significant financial growth across various investment plans, catering to a diverse range of investor risk profiles. According to information available from the Pakistan Stock Exchange (PSX), MFPF, an open-end Shariah Compliant Islamic fund, aims to generate returns through Shariah-compliant fixed income and equity mutual funds.

The Aggressive Allocation Plan led the way with a staggering 37% increase in net assets, totaling Rs. 88.00 million, up from Rs. 64.00 million the previous year. It posted a net income of Rs. 33.00 million, sharply rising from Rs. 1.00 million last year, driven by both realized and unrealized gains.

In contrast, the Moderate Allocation Plan saw a moderate increase in net assets by 11%, reaching Rs. 69.00 million, with a total income of Rs. 26.00 million. This performance reflects a steady interest among investors seeking balanced risk exposure.

However, the Conservative Allocation Plan experienced a decrease in net assets by 17%, amounting to Rs. 49.00 million. Despite the drop, the plan managed a net income increase to Rs. 17.00 million from Rs. 9.00 million, primarily through gains on investments and dividend income.

The Very Conservative Allocation Plan, appealing to investors with low-risk tolerance, reported minimal movements with a net income of just Rs. 0.05 million and net assets totaling Rs. 1.10 million, showcasing a conservative stance towards investment fluctuations.

Meezan Asset Allocation Plan – I (MAAP-I), designed for medium-term higher returns, significantly increased its net assets by 31% to Rs. 93.00 million. It achieved a net income of Rs. 33.00 million, a substantial rise from Rs. 3.00 million, driven by robust market performance and strategic asset allocation.

Distribution payouts varied with the Aggressive Allocation Plan distributing Rs. 14.00 per unit, while the Moderate and Conservative plans distributed Rs. 16.00 and Rs. 8.20 per unit, respectively. The distribution highlighted a strategic income realization across different risk levels.

As of June 30, 2024, the total number of investors in these plans ranged from 706 in the aggressive category to 24 in the very conservative, indicating a tailored approach to meet various investor preferences in the Islamic finance sector. These results underscore the fund's adept management and its ability to cater to a range of investor needs with Shariah-compliant options.