Tag: PACRA

Lahore, March 11, 2023 (PPI-OT): NIT Government Bond Fund (or the ‘Fund’) is a medium risk profile Fund. The assigned rating reflects the Fund’s moderate credit risk profile emanating from Fund’s Investment policy to invest in avenues with sound liquidity.

The Fund had invested ~35% in PIBs, ~34.4% in T-Bills whereas ~29.1% in cash majority in Soneri Bank rated AA- and ~1.5% in others. The duration of the Fund stood at 36 days at the end Dec’22, limiting the exposure interest rate risk. While the WAM of the Fund stood at 224 days at the end Dec’22, exposing the Fund to high credit risk. However, major investment in Govt securities is providing comfort to the assigned rating.

The unit holding pattern of the Fund stood at 82.3%, representing top ten investor concentration. The Fund would remain exposed to redemption pressure. The Fund remained compliant with the given criteria of assigned rating by investing minimum 25% in Govt/AAA rated avenues and maximum 25% in double AA- rated avenues.

Going forward, any material changes in the investment policy would remain imperative. While compliance with the devised rating criteria for the assigned rating would remain critical.

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 NIT Government Bond Fund appeared first on Business News Pakistan.

The post PACRA Maintains Stability Rating of NIT Government Bond Fund appeared first on AsiaNet-Pakistan.

Lahore, March 11, 2023 (PPI-OT): Pakistan Income Enhancement Fund or the “Fund” is a medium-risk profile fund. The assigned rating reflects the moderate strength of the Fund’s credit and interest rate risk profile. At end Dec’22, the Fund was largely invested in Government Securities with 75.2% of total assets while 19.3% was invested in TFCs/Sukuks, 3.9% in Cash at Banks and remaining was invested in others.

At end Dec’22, Weighted Average to Maturity stood at 1.4 years mainly due to investments in government securities and corporate bonds. The Duration of Fund was 47 days depicting low interest rate risks. The unit holder concentration stood at ~46.4% with low redemption risks.

Going forward, the Fund may alter its allocation with banks and take a diversified exposure in term deposits and spread transactions keeping in view the market expectations. 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

The post PACRA Maintains Stability Rating of Pakistan Income Enhancement Fund appeared first on Business News Pakistan.

The post PACRA Maintains Stability Rating of Pakistan Income Enhancement Fund appeared first on AsiaNet-Pakistan.

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

The post PACRA Maintains Stability Rating of Alhamra Islamic Income Fund appeared first on Business News Pakistan.

The post PACRA Maintains Stability Rating of Alhamra Islamic Income Fund appeared first on AsiaNet-Pakistan.

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.

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