Lakson Income and Islamic Tactical Funds Surge in Yearly Earnings

Karachi: In a notable fiscal performance for the year ending on June 30, 2024, Lakson Investments Limited disclosed a robust upturn in profits for two of its flagship funds: the Lakson Income Fund and the Lakson Islamic Tactical Fund, as per the financial reports filed with the Pakistan Stock Exchange.

The Lakson Income Fund showcased a dramatic recovery, turning around a substantial realized loss on investments from the previous year. By the close of June 2024, the fund had reported a net income of PKR 719.93 million, a significant bounce from the prior year’s PKR 105.19 million, according to information available from the Pakistan Stock Exchange (PSX). This recovery was primarily driven by a marked increase in profits from mark-up and bank balances which surged from PKR 167.81 million to PKR 829.39 million within a year.

Expenses for the fund were efficiently managed with total operational costs at PKR 48.11 million compared to last year’s PKR 17.25 million, which includes payments to the management company, and brokerage fees among other regular charges.

On another front, the Lakson Islamic Tactical Fund reported a net income of PKR 117.00 million for the same period, significantly up from PKR 25.96 million in the previous year. The fund’s earnings were buoyed by gains on sales of investments and substantial mark-ups on bank deposits, reflecting a prudent and strategic management approach.

Investment strategies seemed to pivot effectively, evidenced by an income leap from foreign currency deposits and a decrease in provisions against non-performing debt securities, marking a strategic shift that has borne financial gains.

Both funds’ financial robustness underscores Lakson Investments Limited’s capacity to navigate market volatility and optimize asset performance under varying economic conditions. These financial statements will be available on the PSX’s PUCAR portal soon for public access and further scrutiny.

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