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Karachi, The Board of Directors of MCB-Arif Habib Savings & Investments Limited convened at their Head Office in Karachi to announce the financial results of MCB Pakistan Opportunity Fund Dividend Yield Plan for the period ended June 30, 2023.
The fund exhibited a strong performance during the fiscal year, reporting profitable results. The approved financial report highlights the following key figures:
INCOME:
Financial Income on Government Securities: Rs. 174,000
Financial Income on Bank Balances: Rs. 4,388,000
Dividend Income: Rs. 21,658,000
Loss on Sale of Investments Net: Rs. (1,985,000)
Unrealized Loss on Re-measurement of Investments classified as at Fair Value through Profit or Loss Net: Rs. (2,069,000)
Total Income: Rs. 22,166,000
EXPENSES:
Remuneration of the Management Company: Rs. 1,505,000
Sindh Sales Tax on Remuneration of the Management Company: Rs. 196,000
Remuneration of the Trustee: Rs. 301,000
Sindh Sales Tax on Remuneration of the Trustee: Rs. 39,000
Annual Fee of the Securities and Exchange Commission of Pakistan: Rs. 30,000
Auditors’ Remuneration: Rs. 500,000
Securities Transaction Cost: Rs. 617,000
Settlement and Bank Charges: Rs. 338,000
Legal and Professional Charges: Rs. 199,000
Printing Charges: Rs. 40,000
Fees and Subscription: Rs. 141,000
Total Expenses: Rs. 3,906,000
NET INCOME FOR THE YEAR:
Net Income for the Year: Rs. 18,260,000
OTHER COMPREHENSIVE INCOME:
Other Comprehensive Income: Rs. (344,000)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR:
Total Comprehensive Income for the Year: Rs. 18,223,000
The MCB Pakistan Opportunity Fund Dividend Yield Plan managed to deliver a favorable outcome for its investors during the period under review. The fund’s prudent investment strategy and focus on dividend-yielding opportunities have contributed to its overall positive performance. Investors can be optimistic about the fund’s potential for stable returns moving forward.
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