PACRA Maintains Stability Rating of ABL Cash Fund

ABL Cash Fund (or the "Fund") is a low risk profile Fund. The objective of this Fund is to provide investors, consistent returns with a high level of liquidity, through a blend of money market and sovereign debt instruments. At end Jun'24, the Fund had invested ~35.3% in T-Bills, ~34.6% in Bank placements, ~22.6% in PIBs, ~3.7% in TFCs/Sukuks, while the remaining was invested in other. At end Jun'24, most of the investments was held in Govt.Sec/AAA rated avenues (~95.3%), ~2.3% in AA, while the remaining was invested in others. At end of Jun'24, the duration of the Fund stood at 1 day, limiting the exposure to interest rate risk. The WAM of the Fund stood at 86 days, exposing the Fund to moderate credit rate risk. The unit holding pattern of the fund stood at 4% at end Jun'24, representing top 10 investors concentration, hence giving very low level of redemption pressure.
Going forward, any material changes in the investment policy or the devised rating criteria for the assigned rating would have an impact on the rating.

About the Entity
Incorporated in 2007, ABL AMC is a wholly owned subsidiary of Allied Bank Limited (ABL). ABL operates with 1,400 plus branches including 117 Islamic banking branches, 8 Digital/ Self Service branches & 2 overseas branches. ABL AMC possesses licenses for asset management, pension management and investment advisory services. As the leading private sector asset management and investment advisory Company in Pakistan, offerings include a comprehensive range of both Conventional and Shariah Compliant investment solutions across all major asset classes. Assets under management of the Company stood at ~PKR 199.8bln at the end of Jun'24.