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General

PACRA Maintains Stability Rating of Alhamra Islamic Income Fund

Lahore, September 13, 2022 (PPI-OT):Alhamra Islamic Income Fund or the “Fund” is a medium-risk profile fund. The Fund allocated 33.4% of assets to banks, whereas 34% of the exposure was maintained with Government Securities and ~26% was allocated to corporate sukuk. Weighted average maturity stood at 3.7 years mainly due to investment in long term government securities and corporate bonds while, the duration of the fund stood at 57 days. The investor concentration is on lower side standing at 20% in Jun’22 showing 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

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