Alhamra Daily Dividend Fund Announces Half-Year Financial Results

Karachi, MCB Investment Management Limited, the management company of Alhamra Daily Dividend Fund, has unveiled its financial performance for the half year ended December 31, 2023. The announcement came following a board meeting held at the company’s Karachi office on February 2, 2024, at 2:30 p.m., where the financial outcomes were thoroughly reviewed and approved.

The Fund reported a total income of Rs. 278,629 thousand for the period, a noticeable increase from the Rs. 327,216 thousand registered in the corresponding period of the previous year. This income comprised profits on bank deposits and investments, showcasing the Fund’s strategic approach to optimizing its investment portfolio for steady returns.

Expenses for the half-year stood at Rs. 20,806 thousand, slightly above the Rs. 20,176 thousand reported in the previous year. These expenses included the remuneration of MCB Investment Management Limited as the management company, Sindh Sales Tax on the management company’s remuneration, allocated expenses, selling and marketing expenses, and brokerage expense, underlining the Fund’s operational costs during the period.

After accounting for expenses, the net income before taxation was reported at Rs. 257,823 thousand for the half-year ended December 31, 2023, compared to Rs. 307,040 thousand in the same period of the previous year. The Fund achieved a net income after taxation of Rs. 257,823 thousand, maintaining its commitment to providing consistent returns to its investors.

The financial report highlights the Alhamra Daily Dividend Fund’s ability to generate substantial income and effectively manage its expenses, ensuring attractive returns for its unit holders. Despite the slight variance in income and expenses compared to the previous year, the Fund’s performance remains robust, demonstrating its resilience and strategic investment prowess.