⚡ Flash Summary

JS Islamic Money Market Fund reported a strong year-end performance for June 30, 2025, with a fund return of 13.91% compared to the benchmark return of 10.41%. The Fund’s Net Assets increased significantly from PKR 3,018.86 million in 2024 to PKR 4,214.21 billion in 2025. The fund paid a Daily Dividend accumulating to Rs 9.74 per unit. The total expense ratio is 0.85%, which includes 0.14% of government levies on the Fund.

📌 Key Takeaways

• 💰 Fund return was 13.91% for the year ended June 30, 2025, outperforming the benchmark return of 10.41%.
• 📈 Net Assets surged from PKR 3,018.86 million in 2024 to PKR 4,214.21 billion in 2025.
• 💸 The Fund paid a Daily Dividend accumulating to Rs 9.74 per unit during the year.
• ✅ Total expense ratio stands at 0.85%, including 0.14% for government levies.
• ⭐ Asset manager rating is ‘AM2++’ with a ‘Stable Outlook’ from PACRA.
• 📊 PACRA maintained the stability rating of the Fund at “AA(f)”.
• 📜 Fund is Shariah-compliant.
• 🏦 Fund’s investments primarily focused on short-term Shariah-compliant bank placements and short-term Sukuks.
• 📉 Short-term tenors in the government securities market fell sharply, with 3M, 6M, and 12M closing at 11.01%, 10.89%, and 10.85%, respectively.
• 🚀 The issuance of Pakistan’s first 15-year zero-coupon bond, raising PKR 288 billion at a 12.70% cut-off, was a notable milestone.

🎯 Investment Thesis

BUY: The JS Islamic Money Market Fund presents a compelling investment opportunity due to its strong performance, increase in Net Assets, Shariah compliance, and well-managed risk profile. The Fund’s focus on short-term instruments provides stability and liquidity, making it suitable for investors seeking steady returns and capital preservation. Given the current monetary easing environment in Pakistan, the Fund’s strategy is well-positioned to benefit from declining yields.