Karachi: The Board of Directors of NBP Fund Management Limited has released the unaudited Condensed Interim financial statements for the NBP Savings Fund (NBP-SF) for the quarter ending September 30, 2026. The report, dated November 3, 2026, highlights a period marked by upward trends in government securities yields, driven by ongoing inflationary pressures and external uncertainties.
In the first quarter of the fiscal year 2027, government securities experienced notable yield increases, particularly as the quarter drew to a close. The State Bank of Pakistan (SBP) facilitated six Treasury Bill auctions between July and September 2026, with cut-off yields for tenors ranging from one month to twelve months settling between 11.25% and 12.35%. The last quarter also saw Shariah-compliant government securities being actively issued through the Pakistan Stock Exchange. Short-term Sukuk yields rose from around 11.30%-11.84% in July to roughly 11.68%-12.49% by the final auction in September.
According to information available from the Pakistan Stock Exchange (PSX), the NBP Savings Fund, classified as an Income Scheme, maintained a stability rating of 'A+ (f)' from PACRA. The Fund adheres to stringent investment guidelines, engaging in T-Bills, Bank Deposits, and Money Market instruments, with additional provisions for investments in MTS. These practices are aimed at minimizing credit risk while enhancing liquidity.
The NBP Savings Fund reported a substantial increase in its size, growing by 28% from Rs. 5,564 million to Rs. 7,115 million during the quarter. The Fund's unit price rose from Rs. 9.9397 on June 30, 2026, to Rs. 10.1984 on September 30, 2026, reflecting an annualized return of 10.33%, which is slightly lower than the benchmark return of 11.16%. This performance is calculated after accounting for management fees and other expenses.
The Fund's total income for the period amounted to Rs. 203.50 million. After accounting for total expenses of Rs. 28.47 million, the net income stood at Rs. 175.03 million. As of September 30, 2026, the asset allocation of NBP-SF was comprised of 8.53% in T-Bills, 9.75% in CFS/MTS, 9.84% in Term Deposit Receipts (TDR), and 71.88% in Cash Equivalents & Other Net Assets rated AA+.
The NBP Savings Fund continues to demonstrate robust growth and strategic asset allocation in the face of evolving market conditions, offering a compelling option for investors within its designated market category of Income Schemes.