PACRA Maintains Stability Rating of AL Habib Government Securities Fund

AL Habib Government Securities Fund (“AHGSF” or “the Fund”) is a moderate risk profile fund. The objective of the Fund is to generate a competitive return with low risk by investing primarily in Government Securities. As of Dec’25, the Fund’s AUM stood at ~PKR 15.562bln, up from PKR 11.580bln at the time of Jun’25, reflecting notable growth in fund size during the period while maintaining the Fund’s investment strategy. In terms of asset allocation, the Fund maintained ~44.34% in T-Bills, followed by ~29.00% in Cash holdings, ~25.19% in PIBs, and ~0.80% in GoP Ijarah Sukuk, with the remaining ~0.67% allocated to other instruments, reflecting a predominantly sovereign exposure strategy aimed at capital preservation and stable returns. From a credit quality perspective, ~70.34% of the portfolio was invested in Government Securities and ~29.00% in AAA rated avenues, with the remaining ~0.67% allocated to other categories, indicating a strong credit quality profile with minimal exposure to credit risk. At end-Dec’25, the Fund’s duration stood at 69 days, indicating low to moderate sensitivity to interest rate movements. Meanwhile, the WAM was recorded at 92 days, reflecting a balanced maturity profile. The unit holding pattern remained moderately concentrated, with approximately 52.25% of units held by the top 10 investors. In terms of performance, the Fund reported a 12-month trailing return of 11.24% as of Dec’25, which remained slightly above the benchmark return of 11.11%, indicating marginal outperformance relative to its benchmark.
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
AL Habib Asset Management Limited ('AHAML') incorporated in September 2005 as an unlisted public company, is the fastest-growing Asset Management and Investment Advisory Company in Pakistan. The company is licensed by the Securities and Exchange Commission of Pakistan (SECP) to carry out these services under the Non-Banking Finance Companies Regulations. The Company is a wholly-owned subsidiary of Bank AL Habib Limited. The Board of Directors comprises six members. The CEO, Mr. Kashif Rafi, has vast experience expanding over 22 years in the field of Investments and Fund Management. The Company’s diverse product slate includes 8 conventional funds and 5 Shariah-compliant in open-ended schemes. As of Dec '25, the total AUMs of AHAML stood at PKR 332.63bln.