PACRA Maintains Stability Rating of Lakson Islamic Money Market Fund

Lahore, March 06, 2023 (PPI-OT): Lakson Islamic Money Market Fund (or the ‘Fund’) is a low-risk profile fund. The assigned rating rating reflects the Fund’s low credit risk profile emanating from the fund’s investment policy to invest in strong credit quality investment avenues with sound liquidity. The Fund remain compliant with the given criteria of investing at least 25% in triple AAA rated avenues. In Fact, the Fund had invested ~92.8% in cash majority in triple AAA rated bank, ~6.25% in corporate sukuks rated AA whereas ~1% in others, in the end Dec’22.

The duration and the WAM of the Fund stood at 2-days, limiting the exposure to interest rate and credit risk. The unit holding pattern of top 10 investors concentration of the Fund stood at 94% at the end Dec’22. Going forward, the Fund strategy represents high liquidity and low risk profile, which bodes well to the rating. this would remain imperative to the rating. Any breach of investment policy is considered negative.

For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com

The post PACRA Maintains Stability Rating of Lakson Islamic Money Market Fund appeared first on Business News Pakistan.

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