⚡ Flash Summary

MCB Pakistan Fixed Return Fund’s financial results for the quarter ended September 30, 2025, show a net income for the period after taxation of PKR 153.254 million. This is derived from the two plans of the fund, PFRP-23 and PFRP-25. Most of the income is generated from government securities. Total assets for PFRP-23 are reported at PKR 6,381.138 million and PFRP-25 at PKR 5,167.085 million.

📌 Key Takeaways

• 💰 Net income for the period after taxation is PKR 153.254 million.
• 📈 The net income includes PKR 150.746 million from PFRP-23.
• 📊 And PKR 2.508 million from PFRP-25.
• 🏛️ Total income is mainly from income from Government securities amounting to PKR 174.139 million.
• 📉 Unrealized loss in fair value of investments classified at fair value through profit or loss’ – net: PKR (5.805) million.
• 🏦 Profit on bank deposits: PKR 929 thousand.
• 🧾 Total assets for PFRP-23: PKR 6,381.138 million.
• 🗜️ Total assets for PFRP-25: PKR 5,167.085 million.
• 💸 Net assets for PFRP-23: PKR 6,340.608 million.
• 💵 Net assets for PFRP-25: PKR 5,166.897 million.
• 🏦 Number of units in issue for PFRP-23: 61,898,635.
• 📈 Number of units in issue for PFRP-25: 51,643,890.
• 📊 Net assets value per unit for PFRP-23: 102.4352.
• ✨ Net assets value per unit for PFRP-25: 100.0486.

🎯 Investment Thesis

Given the fund’s focus on fixed income securities, particularly government securities, and a lack of significant growth catalysts in the short term, a HOLD recommendation is appropriate. The fund provides a stable income stream with relatively low risk (due to its government securities holdings). The price target should be based on the fund’s yield and prevailing interest rates, with a re-evaluation contingent on macroeconomic developments in Pakistan. There is no set time horizon.