PACRA Maintains Stability Rating of Pakistan Income Fund - Press Release issued by The Pakistan Credit Rating Agency Limited.

Lahore -- September 05, 2022 (PPI-OT)

Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)

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Pakistan Income Fund (or the 'Fund') is a medium risk-profile fund. The Fund aims to invest in the money market, debt, and fixed income instruments through active management. The rating reflects the moderate strength of the Fund's credit and interest rate risk profile. The Weighted Average Maturity of the Fund was 2.8 years at end-Jun'22, which subjects the Fund to moderate credit risk.

The duration was 93 days as at Jun'22. The Fund had allocated 70.9% of its net assets to Govt. Securities/AAA as of end-Jun'22, which reflects the strong credit rating of Fund's assets. 14.3% of Fund's assets were invested in AA+ securities. The unit holding pattern of the Fund is low concentrated with top ten investors representing 32.4% of the Fund's assets, which...