PACRA Maintains Stability Rating of AL Habib Islamic Savings Fund

AL Habib Islamic Savings Fund ('AHISAVF' or 'the Fund') is a medium risk profile fund. The investment objective of AHISAVF is to provide competitive risk adjusted returns to its investors by investing in a diversified portfolio of long, medium and short term Shariah Compliant debt instruments while taking into account liquidity considerations. As of Jun’26, the Fund’s Assets Under Management (AUM) stood at ~PKR 19.35bln, down from PKR 22.40bln as of Dec’25, reflecting a moderate contraction in fund size during the period while maintaining its investment strategy. In terms of asset allocation, approximately 57.87% of the portfolio was invested in GoP Ijarah Sukuk, ~39.72% in Cash, and the remaining ~2.41% in other instruments. The allocation reflects a predominantly sovereign-backed Islamic portfolio, complemented by a meaningful liquidity position. From a credit quality perspective, ~57.87% of the assets were invested in Government Securities, ~39.42% in AAA rated avenues, ~0.29% in AA- and ~0.01% in AA+ rated instruments, with the remaining ~2.41% allocated to other categories, indicating a strong credit profile supported by significant exposure to sovereign and high-quality rated instruments. As of Jun’26, the Fund’s WAM stood at 318 days, while duration stood at 137 days, reflecting moderate exposure to longer-tenor instruments and interest rate movements. The unit holding pattern remained highly concentrated, with the top 10 investors accounting for ~77.4% of total holdings, indicating higher redemption pressure. However, the Fund’s meaningful cash allocation provides some liquidity cushion against potential redemptions. In terms of performance, the Fund delivered a return of 11.29% as of Jun’26, compared to the benchmark return of 9.60% and peer average return of 11.43%, reflecting outperformance of approximately 169bps against the benchmark, although remaining marginally below the peer average.
Going forward, any material changes, in the investment policy, and/ or compliance with rating criteria for the assigned rating would have 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 Jun '26, the total AUMs of AHAML stood at PKR 290.561bln.