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Karachi, The Board of Directors of MCB-Arif Habib Savings & Investments Limited convened at their headquarters to announce the financial results of the Pakistan Cash Management Fund for the fiscal year ended June 30, 2023.
The Pakistan Cash Management Fund demonstrated strong financial performance during the year, achieving robust results despite economic uncertainties. The approved financial results are as follows:
INCOME:
Profit on Bank Deposits: Rs. 2,609,868,000
Capital Gain on Sale of Investments – Net: Rs. 98,254,000
Income from Government Securities: Rs. 9,725,000
Unrealized Diminution on Re-measurement of Investments classified as Financial Assets at Fair Value through Profit or Loss – Net: Rs. 2,511,614,000
Income on Letter and Other Placements: Not disclosed
Income on Debt Securities – TFC: Not disclosed
Profit on Term Deposit Receipts: Rs. 686,490,000
Total Income: Rs. 2,609,868,000
EXPENSES:
Remuneration of MCB-Arif Habib Savings and Investments Limited – Management Company: Rs. 86,149,000
Sales Tax on Remuneration of the Management Company: Rs. 11,199,000
Allocated Expenses: Rs. 3,544,000
Remuneration of Digital Custodian Company Limited – Trustee: Rs. 5,747,000
Sales Tax on Remuneration of the Trustee: Rs. 747,000
Annual Fee to Securities and Exchange Commission of Pakistan: Rs. 3,215,000
Auditors’ Remuneration: Rs. 554,000
Selling and Marketing Expense: Rs. 58,659,000
Brokerage, Settlement, and Bank Charges: Rs. 2,585,000
Legal and Other Professional Charges: Rs. 176,000
Fee and Subscription: Rs. 537,000
Printing and Stationery: Not disclosed
Total Expenses: Rs. 173,123,000
NET INCOME FROM OPERATING ACTIVITIES:
Net Income from Operating Activities: Rs. 2,609,868,000
REVERSAL OF PROVISION:
Reversal of Provision for Sindh Workers’ Welfare Fund: Rs. 12,614,000
NET INCOME BEFORE TAXATION:
Net Income for the Year Before Taxation: Rs. 2,609,868,000
NET INCOME AFTER TAXATION:
Net Income for the Year After Taxation: Rs. 2,609,868,000
OTHER COMPREHENSIVE INCOME:
Other Comprehensive Income: Not disclosed
TOTAL COMPREHENSIVE INCOME FOR THE YEAR:
Total Comprehensive Income for the Year: Rs. 2,609,868,000
Investors can take confidence in the Pakistan Cash Management Fund’s prudent investment strategies and effective risk management that contributed to its strong financial performance in FY2023.
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