Lahore, September 06, 2022 (PPI-OT):Lakson Investments Limited (LIL) is in the process to launch the “Fund” in order to strengthen its relative position in the Islamic money market category. Lakson Islamic Money Market Fund (or the “fund”) would be an open-ended fund, managed by Lakson Investment Limited (LIL). The objective of the Lakson Islamic Money Market Fund (or the “Fund”) is a long-term capital appreciation by investing in Shariah Compliant avenues. The initial Fund’s size is expected to be PKR ~1.5bln-2bln.
The 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 Investment Policy of the Fund restricts exposure in below “AA’ rated avenues. The duration of the Fund would be capped at 90 days. The Fund would remain invested at least 25% in Govt Securities/AAA rated avenues. 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