Karachi: The Board of Directors of NBP Fund Management Limited has released the unaudited condensed interim financial statements for the NBP Government Securities Fund-II, specifically the NBP Government Securities Plan-VIII (NGSP-VIII), covering the quarter ending September 30, 2026. The report, dated November 3, 2026, outlines the fund's performance amidst rising government securities yields driven by inflationary pressures and external uncertainties.

During the first quarter of the fiscal year 2027, yields on government securities saw an upward trend, particularly towards the end of the quarter. The State Bank of Pakistan (SBP) conducted six Treasury Bill auctions from July to September 2026, with cut-off yields ranging from 11.25% to 12.35% across tenors from one month to twelve months. The yields, initially contained in July, began to firm up in August and September. By the quarter's end, the six-month and twelve-month cut-offs had reached 12.45% and 12.49%, respectively. Fixed-rate Pakistan Investment Bonds (PIBs) also experienced yield increases, with the two-year tenor reaching 12.40%, and both the three-year and five-year tenors closing at 12.49%. The ten-year tenor reached 12.50%, although some bids for selected maturities were rejected during the quarter.

The NGSP-VIII, categorized as an Open-End Sovereign Income Scheme, focuses on providing attractive returns by primarily investing in government securities. According to information available from the Pakistan Stock Exchange (PSX), the size of the NBP Government Securities Plan-VIII closed at Rs. 2 million on September 17, 2026. The unit price of the fund increased from Rs. 11.1880 on June 30, 2026, to Rs. 13.2646 on September 17, 2026, reflecting a significant move with an annualized return of 85.76%, compared to its benchmark return of 11.37%.

The fund reported a total income of Rs. 2.69 million during the period, with expenses totaling Rs. 0.23 million. Consequently, the net income amounted to Rs. 2.46 million.