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Karachi, The Board of Directors of MCB-Arif Habib Savings & Investments Limited, the management company of Alhamra Islamic Active Allocation Fund, convened a meeting at the Head Office to approve the financial results for the year ended June 30, 2023.
The Alhamra Islamic Active Allocation Fund demonstrated a robust financial performance during the mentioned period. The approved financial results are as follows:
INCOME:
Realized Gain on Sale of Investments (Net): Rs. 2,309,000
Net Unrealized Gain/(Loss) on Re-measurement of Investments at Fair Value through Profit or Loss: Rs. 5,088,000
Profit on Balances with Banks: Rs. 549,000
Dividend Income: Rs. (2,999,000)
Total Income: Rs. 9,434,000
EXPENSES:
Remuneration of the Management Company: Rs. 13,176,000
Sindh Sales Tax on Remuneration of the Management Company: Rs. 2,718,000
Remuneration of the Trustee: Rs. 88,000
Sindh Sales Tax on Remuneration of the Trustee: Rs. 11,000
Annual Fee to Securities and Exchange Commission of Pakistan: Rs. 250,000
Allocated Expenses: Rs. 32,000
Auditors’ Remuneration: Rs. 24,000
Printing Charges: Rs. 122,000
Settlement and Bank Charges: Rs. 519,000
Listing Fee: Rs. 40,000
Legal and Professional Charges: Rs. 4,000
Total Expenses: Rs. 1,292,000
NET INCOME:
Net Income for the Year Before Taxation: Rs. 1,347,000
Taxation: Rs. (1,374,000)
Net Income for the Year After Taxation: Rs. 10,510,000
OTHER COMPREHENSIVE INCOME:
Other Comprehensive Income for the Year: Rs. 1,266,000
Total Comprehensive Income for the Year: Rs. 9,071,000
These financial results indicate the successful management of the Alhamra Islamic Active Allocation Fund by MCB-Arif Habib Savings & Investments Limited. The fund’s favorable performance highlights its commitment to delivering attractive returns to its investors while adhering to Islamic principles.
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