Meezan Financial Planning Fund Reports Robust FY24 Performance with Increased Returns in Multiple Allocation Plans

Karachi: The Meezan Financial Planning Fund of Funds (MPFF), an open-end Shariah-compliant investment scheme, reported a notable performance for the fiscal year ended June 30, 2024. The fund, which is designed to cater to various investor risk preferences, has recorded substantial growth across its different investment plans.

The Aggressive Allocation Plan led the performance, registering a total income of 33.00 million, a significant increase from 1.00 million in the previous year. This plan primarily invests in Shariah-compliant equity funds, ensuring at least 65% of its assets are allocated to such equities. The net assets of the Aggressive Plan reached 64.00 million as of June 30, 2024, marking an impressive annual growth.

Similarly, the Moderate Allocation Plan showed strong returns with a total income of 26.00 million for FY24, up from 10.00 million last year. This plan, which balances investment in Shariah-compliant equities and fixed income funds, saw its net assets increase to 69.00 million.

The Conservative Allocation Plan posted a total income of 17.00 million, with investments focused on a minimum of 20% in Shariah-compliant equity funds. The plan’s assets amounted to 49.00 million by the fiscal year-end, up from 37.00 million.

According to information available from the Pakistan Stock Exchange (PSX), the Very Conservative Allocation Plan, which invests 100% in fixed income funds, recorded a modest total income of 0.06 million, reflecting the lower risk and return profile suited to conservative investors. Despite the smaller scale of income, this plan maintains a vital role in offering diversified portfolio options for investors seeking low-risk avenues.

The fund’s distribution strategy also reflected its overall success, with total disbursements reaching 14.00 per unit for the Aggressive Plan, 16.00 for the Moderate Plan, and varying rates for other plans, accommodating the diverse preferences and risk tolerances of its investors.

In total, the fund holds 706 unit holders with varied investment sizes, demonstrating its wide appeal and robust trust among investors. The Meezan Asset Allocation Plan – I (MAAP-I) alone saw an income of 34.00 million, significantly higher than last year’s 3.00 million, underscoring the fund’s effective management and strategic asset allocation.