Karachi: The Board of Directors of NBP Fund Management Limited has presented the unaudited condensed interim financial statements for the NBP Savings Plus Fund (NSPF) for the period ending September 30, 2026. The report, dated November 3, 2026, details the fund's performance and its strategic investment allocations.
NSPF, classified under the Income Scheme category, is designed for investors with a medium-term investment horizon. The fund's authorized investments encompass government securities exceeding 90 days, bank deposits, reverse repurchase agreements, and money market instruments with maturities over six months. It also includes commercial papers, short-term Sukuks, and investments through the Margin Trading System.
The first quarter of the fiscal year 2027 witnessed an upward trend in government securities yields, driven by persistent inflationary pressures and external uncertainties. The State Bank of Pakistan (SBP) conducted six T-Bill auctions from July to September 2026, with cut-off yields ranging from 11.25% to 12.35% across tenors from one to twelve months. The yields increased notably in August and September, with six-month and twelve-month cut-offs reaching 12.45% and 12.49%, respectively. Shariah-compliant government securities, issued through the Pakistan Stock Exchange (PSX), also saw a rise in short-term Sukuk yields from around 11.30%-11.84% in July to approximately 11.68%-12.49% by the final auction in September.
According to information available from the Pakistan Stock Exchange (PSX), the size of the NBP Savings Plus Fund grew by 41%, from Rs. 13 million to Rs. 19 million, during the reporting period. The unit price of the fund increased from Rs. 10.0000 at inception on September 17, 2026, to Rs. 10.0366 by September 30, 2026, marking a return of 10.28% per annum, compared to the benchmark return of 11.30% per annum.
The total income earned by the fund during this period was Rs. 0.059 million. After accounting for total expenses amounting to Rs. 0.006 million, the net income stood at Rs. 0.053 million. As of September 30, 2026, the asset allocation for NSPF was entirely in cash equivalents and other net assets, accounting for 100% of the portfolio.