⚡ Flash Summary

JS Islamic Pension Savings Fund (JS IPSF) reported its annual performance for the year ended June 30, 2025. The Equity Sub-Fund generated a return of 57.02%, significantly increasing its net assets. The Debt Sub-Fund return was 16.01%, also showing a substantial increase in net assets. The Money Market Sub-Fund return stood at 16.23%, with a considerable rise in net assets as well. The fund currently has 493 participants and retains ‘AM2++’ rating reflecting a strong management quality.

📌 Key Takeaways

• 📈 Equity Sub-Fund return: 57.02%.
• 💰 Equity Sub-Fund Net Assets: Increased from PKR 30.92 million to PKR 56.14 million.
• 💸 Equity Sub-Fund expense ratio: 2.57% (includes 0.31% govt. levies).
• 📊 Debt Sub-Fund return: 16.01%.
• 🏦 Debt Sub-Fund Net Assets: Increased from PKR 45.34 million to PKR 69.97 million.
• 🧾 Debt Sub-Fund expense ratio: 2.12% (includes 0.25% govt. levies).
• 💵 Money Market Sub-Fund return: 16.23%.
• 💱 Money Market Sub-Fund Net Assets: Increased from PKR 126.50 million to PKR 213.83 million.
• 📉 Money Market Sub-Fund expense ratio: 0.97% (includes 0.15% govt. levies).
• 🧑‍🤝‍🧑 Total Fund participants: 493 as of June 30, 2025.
• ⭐ Management Company Rating: ‘AM2++’ with a ‘Stable Outlook’ from PACRA.
• 🏛️ Auditors: A.F Ferguson & Co. re-appointed for year ending June 30, 2026.
• 📜 Shariah Advisors: Al-Hilal Shariah Advisors appointed for year ending June 30, 2026.
• 🎯 FY2026 Federal Budget target: Real GDP growth of 4.2%, headline inflation of 7.5%.

🎯 Investment Thesis

HOLD. JS Islamic Pension Savings Fund showcases strong growth and performance metrics across its sub-funds, supported by robust management practices and a positive industry outlook. While the Equity Sub-Fund return is substantial, indicating successful risk-taking, the consistent performance of Debt and Money Market Sub-Funds provides stability. Given the current ‘AM2++’ rating and favorable trends, maintaining current positions is prudent. Price target: Monitor for sustained performance and favorable regulatory developments.