Lahore, March 11, 2023 (PPI-OT): Alhamra Islamic Income Fund or the “Fund” is a medium-risk profile fund. At end-Dec’22, the portfolio was invested 36.7% in Cash at Banks, 28.1% in Government Securities, 24.8% in Sukuk, 8.3% in Shariah Compliant Bank Deposits, whereas, remaining was invested in others including receivables. The WAM stood at 2.5 years mainly due to investments in long term government securities and corporate bonds. The duration of the Fund stood at 88 days depicting a moderate interest rate risk in accordance with medium-risk profile of the Fund. The investor concentration is on lower side standing at 28.8% in Dec’22 showing very low redemption risks.
Going forward, the Fund will invest as per its authorized investment policy, however, the allocations will be diversified appropriately. Material changes in the Fund’s asset allocation strategy, impacting its credit quality and/or exposure to interest rate risk, would affect the rating.
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
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