Karachi: UBL Fund Managers Limited has announced the approval of its condensed interim financial statements for the period ending December 31, 2024. The company's Board of Directors met on February 11, 2025, to discuss the financial performance of various funds under its management. This meeting took place at the UBL Fund Managers Limited Head Office in Karachi.
The funds reviewed include the Al-Ameen Islamic Aggressive Income Fund, Al-Ameen Islamic Asset Allocation Fund, and UBL Asset Allocation Fund, among others. The financial statements revealed a total income of 6.22 billion rupees for the year 2024, a significant increase from the 2.80 billion rupees recorded in 2023. This growth is largely attributed to a substantial gain on the sale of investments, which netted 1.28 billion rupees, and an unrealized gain on revaluation of investments classified at fair value through profit or loss, amounting to 4.62 billion rupees.
Operating expenses for 2024 stood at 287.84 million rupees, up from the 158.10 million rupees reported in the previous year. Despite the increase in expenses, the net income for the period after taxation was 5.93 billion rupees, showcasing a robust financial performance. Earnings per unit were not specified in the data provided.
According to information available from the Pakistan Stock Exchange (PSX), UBL Fund Managers Limited's performance has been commendable, particularly in the designated market category, with strategic investments yielding significant returns. The detailed financial statements reflect the company's effective management and investment strategies, which have resulted in increased income and profitability.
The net income after taxation for the period, after accounting for income already paid on units redeemed, amounted to 5.64 billion rupees. The allocation of net income relating to capital gains also matched this figure, indicating the company's strong focus on maximizing returns from capital investments.
In summary, UBL Fund Managers Limited has successfully navigated the financial landscape in 2024, achieving impressive gains and demonstrating financial resilience and acumen in managing its suite of funds.