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Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has maintained the stability rating of the Pakistan Income Fund (PIF), which is categorized under a medium risk profile. The fund is designed to provide returns from debt and fixed income investments while managing risk prudently.
As of June 2025, PIF reported Assets Under Management (AUM) of PKR 1.363 billion, indicating its significant involvement in Pakistan’s debt market. The fund’s asset allocation is diversified among cash placements, term finance certificates/sukuks, treasury bills, and Pakistan Investment Bonds (PIBs), with small allocations in other areas, including receivables.
The fund holds a satisfactory credit quality, with approximately 52.9% of its assets in government securities and AAA-rated instruments. Additionally, 30% of the assets are in AA+ rated avenues and 14.4% in AA, with the remaining 2.7% in other categories.
With a weighted average maturity of 803 days, equivalent to about 2.2 years, the fund exhibits moderate exposure to interest rate risk. PACRA notes that any significant changes in the fund’s investment policy or adherence to rating criteria could impact its assigned rating.