JS Global Banking Sector ETF Reports Financial Results for Nine Months Ended September 2026
JS Global Banking Sector Exchange Traded Fund (ETF), managed by JS Global Capital Limited, has announced its unaudited financial results for the nine-month period ended September 30, 2026, reporting a net loss of Rs13.79 million compared with a net profit of Rs112.46 million in the corresponding period last year.
According to the financial statements approved by the fund’s management company on October 19, 2026, the fund’s financial performance was affected by changes in investment valuations and other income and expense items during the reporting period.
Total Assets Rise to Rs361.90 Million
The fund’s total assets increased to Rs361.90 million as of September 30, 2026, compared with Rs273.53 million at the end of December 2025. Investments accounted for the largest portion of its assets, reaching approximately Rs348.67 million, up from Rs263.23 million.
Bank balances also increased to Rs11.77 million from Rs9.06 million over the same period. The fund reported total liabilities of Rs3.60 million, resulting in net assets of Rs358.30 million.
Despite the growth in total assets, the fund’s net asset value (NAV) per unit declined to Rs39.0731 from Rs45.1111 at the end of December 2025.
Financial Performance Shows a Reversal
For the nine months ended September 2026, the fund recorded a net loss of Rs13.79 million after taxation, compared with a net profit of Rs112.46 million in the same period of 2025.
The financial statements show that dividend income reached approximately Rs24.75 million, while profit on bank deposits contributed Rs1.11 million. The fund also recorded a gain on the sale of investments of approximately Rs24.46 million.
However, these gains were offset by an unrealized loss of approximately Rs51.69 million arising from the remeasurement of investments classified at fair value through profit or loss. The resulting operating loss, together with other reported items, contributed to the negative result for the period.
Total expenses increased to approximately Rs3.63 million from Rs2.11 million in the corresponding period last year, adding to the fund’s financial costs.
Unit Issuance and Fund Size
The number of units in issue increased to 9.17 million as of September 30, 2026, compared with 5.97 million at the end of December 2025. During the reporting period, the fund issued 5 million units and redeemed 1.8 million units, according to its statement of changes in unit holders’ funds.
The increase in units issued contributed to the expansion of the fund’s asset base. However, the lower NAV per unit indicates that the increase in total assets did not translate into an improvement in per-unit value.
No Dividend or Bonus Shares Announced
In its communication to the Pakistan Stock Exchange, JS Global Capital Limited stated that the fund had not announced any cash dividend, bonus shares, or right shares for the reporting period. The company also reported no other entitlement, corporate action, or price-sensitive information in the announcement.
The fund’s quarterly report is expected to be transmitted separately through the Pakistan Unified Corporate Actions Reporting System (PUCARS) within the stipulated timeframe.
Outlook
The latest financial results highlight the importance of investment valuation movements in determining the performance of exchange-traded funds. Although JS Global Banking Sector ETF reported growth in total assets and an increase in units outstanding, its net loss and decline in NAV per unit reflect the challenges recorded during the nine-month period.
Investors following the fund may wish to review its detailed financial statements, portfolio composition, and subsequent disclosures to better understand its performance. The reported figures cover the period ended September 30, 2026, and do not necessarily indicate how the fund will perform in future periods.
