Lahore: The Pakistan Credit Rating Agency Limited (PACRA) has maintained the stability rating of the Alhamra Government Securities Fund. This decision underscores the Fund’s sustained performance and its strategic focus on conservative investments within the Islamic finance sector.

According to Pakistan Credit Rating Agency Limited, the Alhamra Government Securities Fund is one of Pakistan’s largest money market funds, boasting Assets Under Management (AUM) of PKR 139.7 billion as of December 2024. The Fund’s asset allocation is predominantly invested in sovereign Islamic instruments, with approximately 77.7% in GOP Ijara Sukuk. Additionally, 20.7% of the Fund’s assets are placed with Islamic banks and banking windows, while the remaining 1.6% is allocated to other avenues.

The Fund’s credit quality remains robust, with 77.7% of its holdings in Government/AAA-rated securities and 20.7% in AA-rated placements. The remaining 1.6% is in other instruments. The Fund’s Weighted Average Maturity (WAM) stands at 164 days, reflecting a low credit risk aligned with its conservative allocation strategy.

Looking ahead, any significant changes in the investment policy or compliance with the rating criteria could impact the current rating.