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Karachi, The Board of Directors of MCB-Arif Habib Savings & Investments Limited, the management company of Alhamra Islamic Asset Allocation Fund, gathered in Karachi to approve the financial results for the year ended June 30, 2023.
The Alhamra Islamic Asset Allocation Fund showcased strong financial performance during the mentioned period. The approved financial results are as follows:
INCOME:
Capital Gain/(Loss) on Sale of Investments (Net): Rs. 101,725,000
Dividend Income: Rs. (306,732,000)
Profit on Bank Deposits: Rs. (72,307,000)
Unrealized Gain/(Loss) on Re-measurement of Investments Classified as Financial Assets at Fair Value through Profit or Loss (Net): Rs. (100,515,000)
Total Income/Loss: Rs. 29,418,000
EXPENSES:
Remuneration of MCB-Arif Habib Savings & Investments Limited – Management Company: Rs. (407,247,000)
Sindh Sales Tax on Remuneration of the Management Company: Rs. 18,922,000
Allocated Expenses: Rs. 29,418,000
Remuneration of Central Depository Company of Pakistan Limited – Trustee: Rs. (388,325,000)
Sindh Sales Tax on Remuneration of the Trustee: Rs. 29,418,000
Annual Fee to Securities and Exchange Commission of Pakistan: Rs. (388,325,000)
Auditors’ Remuneration: Rs. 29,418,000
Brokerage, Settlement, and Bank Charges Fees and Subscription: Rs. (734,000)
Legal and Professional Charges: Rs. 28,684,000
Shari’ah Advisory Fee: Rs. (28,684,000)
Printing and Related Costs: Rs. 28,684,000
Donation/Charity: Rs. (28,634,000)
Total Expenses: Rs. 28,684,000
NET INCOME/LOSS:
Net Income/Loss from Operating Activities: Rs. 734,000
Reversal of Provision for Sindh Workers Welfare Fund (SWWF): Rs. 28,684,000
Net Income/Loss from Operating Activities: Rs. 28,684,000
Taxation: Rs. (734,000)
Net Income/Loss for the Year After Taxation: Rs. 28,684,000
OTHER COMPREHENSIVE INCOME:
Other Comprehensive Income: Rs. 28,684,000
Total Comprehensive Income/Loss for the Year: Rs. 28,684,000
The financial results illustrate the Alhamra Islamic Asset Allocation Fund’s prudent investment strategies and successful management by MCB-Arif Habib Savings & Investments Limited. The fund’s overall performance reflects its dedication to providing attractive returns to its investors while adhering to Islamic principles.
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