Meezan Strategic Allocation Fund – II Reports Robust Returns in FY24

Karachi: The Meezan Strategic Allocation Fund – II (MSAF – II) achieved significant returns in fiscal year 2024, posting a net income of Rs. 78.00 million. The fund, which focuses on strategic asset allocation between Shariah-compliant fixed income and equity mutual funds, reported a total asset value of Rs. 281.00 million as of June 30, 2024.

In FY24, the Meezan Capital Preservation Plan – IV, a component of MSAF – II, realized an income of Rs. 79.00 million, underscoring effective asset management that contributed to an overall gain for the fund. The strategic allocation between asset classes was dictated by a tailored investment policy aimed at balancing risk and reward, accommodating investors with varying risk tolerances and return expectations. According to information available from the Pakistan Stock Exchange (PSX), the weighted average return of the KMI 30 Index and Fixed Income/Money Market Scheme benchmarks for MSAF – II was recorded at 34.35%, slightly above the industry standard.

Additionally, the fund declared a distribution of Rs. 5.00 per unit during FY24, with the total distribution amounting to Rs. 19.00 million. This move aligns with the fund’s objective to provide favorable returns to its investors based on Shariah principles.

Investor interest in MSAF – II was notable, with a total of 186 investors holding units in varying sizes by the end of June 2024. This diverse investor base reflects confidence in the fund’s strategy and management.