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

Lahore -- March 02, 2023 (PPI-OT)

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

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AL Habib Income Fund (or the "Fund") reflects the medium risk profile. 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 allocated ~86.5% in PIBs, ~4.5% in T-bills, ~3.5% in Cash majority in AAA rated bank, ~2.1% are placed in TFCs rated AA, ~1.9% in Sukuks rated AA- and above whereas ~1.5% other avenues at the end Dec'22. The duration of the Fund stood at 16 days at the end Dec'22, limiting exposure to interest rate risk. While the WAM of the Fund increased to 988 days at the end Dec'22 due to major investment in PIBs.

However, the major investment in Govt Securities is providing comfort to the assigned rating. The unit holding pattern of the Fund was highly concentrated where ~80.3% were represented by...