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Karachi: The Meezan Strategic Allocation Fund – III (MSAF-III) showcased impressive annual performance for the fiscal year ended June 30, 2024, achieving a net income of Rs. 74 million after accounting for expenses. This income stems from a total gain of Rs. 75 million, bolstered by dividends and investment gains totaling Rs. 28.29 million, according to the latest fund report.
The closed-end Plan, which is based on Shariah-compliant investments, reported that its net asset value per unit at the end of the fiscal year stood at Rs. 728.706. This reflects a substantial return, with the interim payout by the Plan during the fiscal year being Rs. 5.50 per unit, marking an 11.00% dividend yield. The total distribution made by the fund was Rs. 167.10 million.
In line with its strategic allocation model, MSAF-III compared favorably against its benchmarks. The weighted average return of the KMI 30 Index and Fixed Income/Money Market Scheme showed a fund return of 34.99% against a benchmark return of 30.56%. This indicates that the fund not only met but exceeded its performance targets, providing robust returns for its investors.
According to information available from the Pakistan Stock Exchange (PSX), the Meezan Strategic Allocation Fund – III has garnered a broad investor base, with total unit holders of 249 as of June 30, 2024. The breakdown reveals that the majority of investors hold between 1 to 9,999 units, demonstrating the fund’s appeal to a diverse group of investors seeking Shariah-compliant investment opportunities.
This performance report underscores the fund’s successful management and strategic investment policies, which aim to generate returns on investments as per the risk/return preference of the investors. MSAF-III continues to attract investors looking to balance their portfolios with a mix of fixed income and equity mutual funds in accordance with their risk tolerance levels.