PACRA Maintains Stability Rating of Alfalah GHP Money Market Fund

Alfalah GHP Money Market Fund ("AGMMF" or "the Fund") is classified under a low risk profile. The objective of AGMMF is to seek to generate competitive returns consistent with low risk from a portfolio constituted of short term instruments including cash deposits, money market placements and government securities. The Fund will maintain a high degree of liquidity, with time to maturity of single asset not exceeding six months and with weighted average time to maturity of Net Assets not exceeding 90 days. As of June 2025, the Fund reported Assets Under Management (AUM) of PKR 66.15 billion. Regarding the asset class, 52.7% of assets were allocated in Treasury Bills, 21.6% as Cash Placements, 13.3% in Pakistan Investment Bonds, 8.5% in Govt Guaranteed Debt Securities, while remaining 2.1% in TFCs/Sukuks and 1.5% in Placements with Banks/DFIs, demonstrating an optimal balance between yield generation and liquidity preservation. The Fund exhibits high credit quality with 84.5% of assets in Government Securities/AAA rated instruments, 13.57% in AA and 1.5% in A1+ rated securities and instruments. This sovereign anchored composition provides protection against credit risk while maintaining the Fund's liquidity objectives. With a Weighted Average Maturity (WAM) of 54 days as of June 2025, the Fund maintains limited exposure to interest rate movements. This disciplined duration management ensures consistent alignment with the Fund's low-risk objectives while allowing for competitive yields.
Going forward, any material changes in the investment policy and/or compliance with the rating criteria for the assigned rating would have an impact on the ratings.

About the Entity
Alfalah Asset Management Limited (Formerly: Alfalah GHP Investment Management Limited) was incorporated on October 18, 2004 as an unlisted public limited company and is licensed by the Securities and Exchange Commission of Pakistan to manage open-ended mutual funds and offer investment advisory services. The Company was established as joint venture Non-Banking Finance Company by Bank Alfalah Limited and GHP Arbitrium. The Company provides a wide range of mutual funds and pension funds both in conventional and Shariah compliant category. The Company also provides investment advisory services to HNW individuals and corporate clients. The Company’s board of directors comprises eight members including the Chairman (Mr. Atif Aslam Bajwa) and the Chief Executive Officer (Mr. Khaldoon Bin Latif). The board is dominated by representatives of MAB Investments and Bank Alfalah Limited. The board has two independent and five non-executive directors. The board members possess strong profile and skills suited to the financial services industry. Assets under management of the Company stood at ~PKR 291bln at end Jun'25.