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Lahore, December 28, 2018 (PPI-OT): The fund objective is to provide competitive return with maximum possible capital preservation by investing in low risk and liquid Shariah Compliant authorized instruments. The rating reflects the fund’s strong credit risk profile emanating from the fund’s investment policy to invest in high credit quality investment avenues with sound liquidity. The fund’s portfolio at June-18 comprises cash balances ~98.7%. Fund’s portfolio duration of 1 day results in low exposure towards interest rate volatility.
The fund’s unit holding pattern remains concentrated with the top10 investors comprising ~99% of the fund’s net assets, of which almost all of the investment is AMC’s own investment which exposes the fund to a very low level of redemption pressure. Going forward, the rating remains dependent on maintaining assets in AA or above category, whereas at least 50% allocation towards AA+ exposure with portfolio duration not exceeding 60 days.
For more information, contact:
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com