⚡ Flash Summary

The Al Meezan Investment Management Limited’s report analyzes the quarterly performance of the Meezan Rozana Amdani Fund for the period ended September 30, 2025. The fund’s net assets decreased significantly, resulting in a stable net asset value (NAV) per unit of 50.0000 Rupees. Total income decreased substantially compared to the same quarter last year, while expenses saw a smaller decrease. Despite the decrease in net assets, the fund maintained its investment objective of providing daily payouts through Shariah-compliant instruments.

📌 Key Takeaways

• 📉 Net assets decreased from 66,479,090,000 Rupees to 29,501,629,000 Rupees.
• 📊 NAV per unit remained stable at 50.0000 Rupees.
• 📉 Total income dropped from 3,232,345,000 Rupees to 1,112,749,000 Rupees.
• 💸 Expenses decreased from 207,753,000 Rupees to 151,419,000 Rupees.
• 🏦 Balances with banks decreased from 25,354,605,000 Rupees to 1,654,786,000 Rupees.
• 📉 Investments decreased from 44,655,614,000 Rupees to 27,547,283,000 Rupees.
• 💰 Profit on sukuk certificates decreased from 1,191,191,000 Rupees to 485,921,000 Rupees.
• 🏦 Profit on savings accounts with banks increased from 245,359,000 Rupees to 358,007,000 Rupees.
• 🔴 Net realized loss on sale of investments increased in losses from (1,639,000) Rupees to (4,288,000) Rupees.
• 🔴 Net unrealized (diminishing) on re-measurement of investments went from 77,382,000 Rupees appreciation to (21,143,000) Rupees diminishing.
• 📉 Total comprehensive income for the quarter went from 3,024,592,000 Rupees to 961,330,000 Rupees.
• 🔴 Number of units in issue decreased from 1,329,582,293 to 590,032,096.
• 📅 The cumulative distribution per unit for the quarter ended September 30, 2025, amounted to 1.1332 Rupees.

🎯 Investment Thesis

Given the financial performance and the lack of further information, a HOLD recommendation is appropriate. The fund faces challenges in income generation but maintains stability in NAV. A specific price target would require a full sector analysis.