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Karachi, The Board of Directors of MCB-Arif Habib Savings & Investments Limited gathered at their Head Office in Karachi to unveil the financial results of Pakistan Capital Market Fund for the year ending June 30, 2023.
Despite facing challenging market conditions, Pakistan Capital Market Fund demonstrated resilience and announced encouraging financial results for the fiscal year. The approved financial report is as follows:
INCOME:
Dividend Income: Rs. 24,529,000
Income from Government Securities: Rs. 4,505,000
Capital Loss on Sale of Investments Net: Rs. (8,853,000)
Income from Unlisted Debt Securities: Rs. 9,000
Profit on Bank Deposits: Rs. 15,229,000
Income on Deposits with NCCPL Against Exposure Margin: Rs. 202,000
Unrealized Diminution on Re-Measurement of Investments classified as Financial Assets at Fair Value through Profit or Loss Net: Rs. 5,619,000
Total Income (Loss): Rs. 30,002,000
EXPENSES:
Remuneration of MCB-Arif Habib Savings & Investments Limited Management Company: Rs. 11,790,000
Sindh Sales Tax on Remuneration of the Management Company: Rs. 1,533,000
Allocated Expenses: Rs. 352,000
Selling and Marketing Expenses: Not disclosed
Remuneration of Central Depository Company of Pakistan Limited Trustee: Rs. 719,000
Sindh Sales Tax on Remuneration of the Trustee: Rs. 93,000
Annual Fee to the Securities and Exchange Commission of Pakistan: Rs. 70,000
Securities Transaction Costs: Rs. 1,184,000
Settlement and Bank Charges: Rs. 482,000
Fees and Subscription: Rs. 27,000
Auditors’ Remuneration: Rs. 925,000
Printing and Related Costs: Rs. 40,000
Legal and Professional Charges: Rs. 174,000
Total Expenses: Rs. (17,389,000)
NET INCOME FROM OPERATING ACTIVITIES:
Net Income (Loss) from Operating Activities: Rs. 12,613,000
REVERSAL OF PROVISION:
Reversal of Provision for Sindh Workers’ Welfare Fund (SWWF): Rs. 6,269,000
NET INCOME BEFORE TAXATION:
Net Income (Loss) for the Year Before Taxation: Rs. 12,613,000
NET INCOME AFTER TAXATION:
Net Income (Loss) for the Year After Taxation: Rs. 12,613,000
TOTAL COMPREHENSIVE INCOME FOR THE YEAR:
Total Comprehensive Income (Loss) for the Year: Rs. 12,613,000
The positive performance of Pakistan Capital Market Fund is a testament to its prudent investment strategies, which have provided investors with stability in a volatile market.
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