⚡ Flash Summary

JS Pension Savings Fund reported financial statements for the year ended June 30, 2025. The Equity Sub-Fund return was an impressive 68.81%, increasing net assets to PKR 140.75 million. The Debt Sub-Fund showed a 17.73% return, with net assets reaching PKR 272.99 million. The Money Market Sub-Fund delivered a 14.82% return, resulting in net assets of PKR 619.49 million. The Fund maintains an ‘AM2++’ rating from PACRA, reflecting its strong management and governance.

📌 Key Takeaways

• 🎉 Equity Sub-Fund return: 68.81% for the year ended June 30, 2025.
• ⬆️ Equity Sub-Fund net assets: Increased to PKR 140.75 million from PKR 118.01 million.
• 💰 Debt Sub-Fund return: 17.73% for the year ended June 30, 2025.
• 📈 Debt Sub-Fund net assets: Increased to PKR 272.99 million from PKR 220.76 million.
• 💸 Money Market Sub-Fund return: 14.82% for the year ended June 30, 2025.
• 💹 Money Market Sub-Fund net assets: Increased to PKR 619.49 million from PKR 435.58 million.
• 👤 Total fund participants: 326 as of June 30, 2025.
• ⭐ Pension Fund Manager Rating: ‘AM2++’ with a ‘Stable Outlook’ by PACRA.
• 🏦 Investment in Listed Equity Securities: At least 90% of Equity Sub-Fund net assets.
• 🏦 Debt Securities Investment: At least 25% of Debt Sub-Fund net assets in government debt.
• 💸 Dividend Distribution: Fund paid an interim cash dividend of PKR 15.86 per unit.
• Auditors: A.F Ferguson & Co. Chartered Accountants being eligible offer themselves for reappointment.

🎯 Investment Thesis

Given the positive performance, strong fund management rating and the steady growth in net assets, a HOLD recommendation is appropriate. The fund’s ‘AM2++’ rating from PACRA indicates strong management quality and governance, supporting its continued stability and growth. A more bullish stance would be warranted if there were additional improvements in diversification and transparency.